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Gold/Mining/Energy : Pallaum Minerals (ASE:PLM) -- Ignore unavailable to you. Want to Upgrade?

To: gtr who wrote (471)	7/28/1998 7:27:00 PM
From: Lloyd	Read Replies (1) \| Respond to of 536

We have a $1 million program going on right now in SVB with around 90% going towards the Adlatok River 2 property. We have not received any geological results back yet but I understand the program is moving along well. Drill targets will be defined once these results are in. All the right geological indicators for the potential of an ore body are there i.e leopard texture core, altered gabbro, disseminated sulfides and spotty massive sulfides near surface. Donner's program is ongoing around us - as per their last news release they are approximately 30% through first phase drilling. They have developed a geophysical technique that is projected to indicate massive sulfides only - they have spent allot of time and money developing this technique on site which is the key reason why the program up there has been moving so slowly. In Nevada we have recommendations for a number of 1st and 2nd phase drill programs on many of our properties, but to this point have commenced only preliminary work programs down there this year. We plan on beginning some work very shortly on one of our new properties "the W property" where some very good gold grades and mineralization have been encountered. Majors continue to show interest in these properties and if a deal is right for the shareholders then a deal might be done. We have sufficient funds to complete these work programs and have pre-payed most of the SVB work program. Placer Dome is very active in the Battle Mountain Trend right now and have completed a number of joint ventures so that they control allot of the region. Our Bullion Mountain and CVP properties are very key / high potential properties in this area. i understand they will be doing allot of work on the property to the south of Bullion Mountain including some deep drilling. Deep drilling on the "Pipeline fault" is the recommendation for Bullion Mountain and we hope to get to this year. Obviously any movement / more positive sentiment towards gold makes these targets very attractive. The target on this property is a Pipeline type target. Meryll Lynch last fall in a recommendation titled " More Gold at the Pipeline" stated that they "have great confidence of further discoveries in and around the Pipeline ore-bodies" According to their report 1.1 million ounces of gold should be produced from this deposit in 1998 with a cash cost less than $100 US an ounce. In Placer Dome's recent news release they announced that they had produced 215,822 ozs of gold at the Pipeline at a cash production cost of $64/oz Pallaum's properties are mainly in this area and have excellent potential. The financing will not be re-priced - over half the money has come in already. Your sincerely, Mark Crowther Pallaum Minerals Mcrowther@pallaum.com