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Gold/Mining/Energy : International Tournigan(ITG.V)announces major discovery -- Ignore unavailable to you. Want to Upgrade?

To: keith schaefer who wrote (299)	7/16/1998 4:29:00 PM
From: Mr Metals	Respond to of 347

International Tournigan Corporation - Update on the Acquisition of a World-Class Silver Copper Manganese Project International Tournigan Corporation ITG Shares issued 16,553,331 1998-07-15 close $0.85 Thursday Jul 16 1998 INTERNATIONAL TOURNIGAN CORPORATION Suite 1407-700 West Pender Street Vancouver, British Columbia, Canada, V6C 1G8 Phone: (604) 681-7281 * Fax: (604) 681-8313 Toll Free: 1-800-716-4745 WEB: tournigan.com E-MAIL: mailto:info@tournigan.com Update on the Acquisition of a World-Class Silver Copper Manganese Project with a 20-Year Mine Life July 15, 1998 - Mr. Ted Daem, president of ITC, announces that ITC has entered into an agreement to acquire 100% interest in Peru's Berenguela project by issuing up to 8 million shares (and up to 2 million warrants) plus a payment of US$ 770,000 to the vendor (KCA) and committing US$ 140,000 per month for engineering to complete the bankable feasibility. To date the US $750,000 has been advanced to KCA as a loan. This loan will be converted to a payment. The recently announced financing will allow the company to begin engineering immediately as it covers Tournigan's monthly commitment. The property was acquired by Kappes, Cassiday & Associates (KCA) in 1995 through the privatization program of Minero Peru. Since 1972 Kappes, Cassiday & Associates (KCA) has provided process metallurgical services to the International Mining Community. KCA specializes in all aspects of heap leach and cyanide processing including laboratory testing, project feasibility studies, engineering design, construction and operations management. The deposit contains a probable reserve of 14 million tonnes assaying 125 grams silver per tonne, l.3% copper, and 18% manganese. According to independent reports prepared by professional engineers including Ross Glanville & Associates, Charles A. R. Lammle, Mine Development Engineering Ltd. And O'Kane Consultants Inc., the net present value at an after-tax constant-dollar discount rate of 10% is US $ 182.7 million. The cash flow after payback of capital and income tax averages US $1.1 million per week for the 20-year life of the project. The deposit is a tabular body approximately 500 meters wide, 1.5 km long, and 60 meters thick. There is minimal overburden, therefore the stripping ratio for mining is low. The orebody was mined from 1905 to 1965, and has long been recognized as a major ore deposit. Underground workings total 17km, however, only 3 % of the currently defined ore body has been mined. In the late 1960's, the property was nationalized and has been unavailable for development until now. The Berenguela project is located 50kms west of Juliaca, on the Altiplano of Southern Peru. The major highway of commerce from Peru to Bolivia runs adjacent to the orebody. Juliaca, a town of 100,000 residents is located 50 km east of Berenguela via a paved highway. A railroad and a river, with sufficient water for operations, parallel the highway and pass within 5 km of the deposit. The deposit is located in an area of rolling hills, with easy road access and suitable sites for a process plant and tailings ponds. KCA has conducted an intensive program of laboratory testing and project evaluation, and has developed a viable flowsheet. A total of CDN$ 5 million is required for working capital and the next phase of the project, which will culminate in the production of a bankable feasibility study for a 700,000 tonne per year operation with a 20-year life. International Tournigan trades on the Vancouver Stock Exchange under the symbol ITG. International Tournigan Corporation A.E. (Ted) Daem President & CEO For further information, please contact Investor Relations Telephone: (604) 681-7281 Toll-Free: (800) 716-4745 Website: tournigan.com E-mail: mailto:info@tournigan.com (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com MM

To: keith schaefer who wrote (299)	7/16/1998 10:58:00 PM
From: MWS	Read Replies (1) \| Respond to of 347

"But the reality of the market today is that these stocks have rallies and fallbacks, and if you don't trade them, you won't make $$." You may not make dollars in the short term if you fail to trade into a rally, but there is always the buy-and-hold strategy which can make money long term if you've chosen the right company. Trading is a great past-time/occupation and many traders are astute market timers and can add liquidity to a market. What is unreasonable, IMHO, is for traders to start bad-mouthing a hard-working and honest management when a trade/investment hasn't gone their way. I agree with you that the management of ITG is honest. As I've said here before, they turned their junior Au exploration Co from a speculative investment where they were attempting to find a mineable ore body, into a future mid-size producer by acquiring an existing pre-defined and economically viable project. This shows excellent management, IMO. Alot of the initial investors became interested in ITG when the speculation in junior golds was hot. As we all know, it is no longer a hot market. I became interested in ITG when they acquired a drill-proven project. Remember when Ghana Goldfields was drilling next to ITG in Ghana. Which would speculators/traders/investors rather hold now: GHN at $.08, which is probably overvalued(?) at a market cap of < 1M C$ or ITG at $.80 which is clearly undervalued at a market cap of 27M C$ ?