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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Laflamm who wrote (6122)	6/22/1998 10:04:00 AM
From: Rob Hirtz	Respond to of 26850

From: newsout@canada-stockwatch.com Date: Mon, 22 Jun 1998 07:00:58 -0700 Subject: Stockwatch: Winspear Resources Ltd - News Release To: robhirtz@silk.net Results of valuations from Snap Lake Winspear Resources Ltd WSP Shares issued 32,726,333 Jun 19 close $0.61 Mon 22 Jun 98 News Release Mr. Randy Turner reports Winspear Resources has received the results of valuations obtained from diamonds recovered by processing 199.7 tonnes of kimberlite obtained earlier this year from the northwest dyke, Snap Lake area, Haywood project, Camsell Lake property, Northwest Territories. The Haywood project area is 140 miles northeast of Yellowknife, Northwest Territories. Winspear operates the project on behalf of a joint venture in which Winspear's interest is 57.3 per cent. By completing 1998 budgeted expenditures of $2.68-million, Winspear's interest in the Haywood project will increase to approximately 68 per cent. Three independent valuations were carried out in Antwerp, Belgium, on diamonds recovered from processing the kimberlite sample through the Diavik plant in Yellowknife. Values reported below are the average of these three valuations for all diamonds. Dry tonnes of kimberlite processed 199.7 dry tonnes Total carats recovered (uncleaned) 228.90 carats Total carats recovered (cleaned) 226.72 carats Average cleaned grade* 1.14 carats per dry tonne Average valuation (U.S. dollars per carat) $301.43 (U.S.) Average value per day tonne (U.S. dollars) $343.63 (U.S.) * Note: average recovered and cleaned grade is for those diamonds that exceed in size an effective square mesh cut off of approximately 1.2mm. Winspear is encouraged by these valuations obtained on diamonds recovered from the bulk sample taken from the northwest dyke. All data on the Snap Lake area is presently being evaluated with the view of undertaking a major drill program this summer season to further delineate the northwest dyke. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com