To: Douglas Simpson who wrote (3585 ) 6/22/1998 4:16:00 PM From: Steve Stakiw Read Replies (2) | Respond to of 4057
Fairmile Identifies New Targets at Buffalo Valley and Highland FAIRMILE GOLD CORPORATION June 22, 1998 ASE: FLA Fairmile Identifies New Targets at Buffalo Valley and Highland Vancouver, BC - Fairmile Gold Corporation (Fairmile) has identified new targets at Buffalo Valley and Highland, its two wholly owned gold properties in Nevada. Both properties offer a number of previously identified targets in addition to those newly identified. Fairmile believes all of these targets are geologically favorable to establish, or at Buffalo Valley to increase, resources that may be developed into low-cost producing mines. At Buffalo Valley, located along the prolific Battle Mountain/Eureka Gold Trend in north-central Nevada, recent computer modeling of Fairmile's previous drill results has led to the development of a new target along strike but deeper than the known resource of +600,000 ounces of gold. This target is modeled after the nearby Fortitude high-grade gold deposit, and has the potential to host high-grade gold where the Buffalo Valley Fault cuts a 300' thick unit of favorably altered carbonate host rocks of the Havallah Sequence. Fairmile is continuing discussions with several major mining companies as potential joint-venture partners to drill test this and the other high-quality targets identified at Buffalo Valley. Work also continues on Fairmile's Highland Project, situated in the Walker Lane Trend in west-central Nevada. Highland has produced a small amount of high-grade gold ore in the past. Geologic evaluation of the recently acquired BUZ claims has identified three target areas on the new claims, each with surface samples containing more than 0.10 troy ounces gold per ton and trace element geochemistry similar to the other Highland targets. Fairmile currently controls approximately 350 claims (6,900 acres) covering seven targets at Highland. Fairmile is discussing a possible joint venture of Highland with several major mining companies. Fairmile continues to evaluate other projects at various stages of exploration, development and production. For further information visit Fairmile's web site at fairmile.com or contact Investor Relations toll-free at 1-888-599-6777. "Thomas R. Kelly" Thomas R. Kelly, President The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. Telephone: 1-888-599-6777 Toll Free Fax: (604) 683-2540