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Gold/Mining/Energy : MIRANDOR-MIQ ON MONTREAL -- Ignore unavailable to you. Want to Upgrade?

To: Kenner who wrote (2090)	8/6/1998 2:54:00 PM
From: Mike Paulin	Read Replies (1) \| Respond to of 2635

Kinross drilling confirms gold potential on Elliot High Ranch Mirandor Exploration Inc MIQ Shares issued 17,282,926 Aug 5 close $0.28 Thu 6 Aug 98 News Release Mr. James Speros reports Exploration Mirandor has released initial results from the first six holes drilled by Kinross Gold on Mirandor's Railroad project in the Carlin trend of Nevada. The first six holes drilled in the Elliot High Ranch area of the project (SE corner) all interested significant gold mineralization across impressive widths at shallow depths. The results are as follows: Hole Depth Length Au No. ft ft oz/t ----- --------- ------ ----- K98-1 250 - 360 110 0.022 K98-2 295 - 430 135 0.018 K98-3 325 - 450 125 0.016 K98-4 370 - 385 15 0.052 K98-5 200 - 215 15 0.046 K98-5 565 - 625 60 0.031 K98-6 275 - 280 5 0.043 The assays were done using fire assay by Bondar-Clegg. It must be emphasized that these are only preliminary results from the start up of the drill program which is expected to continue until the winter. Drilling continues and further results are expected shortly on a continual basis. In 1997, drilling by Mirandor at the Elliot High Ranch revealed the following results: Depth Length Au Hole No. ft ft oz/t -------- --------- ------ ----- Elliot High Ranch EHR 9707 225 - 560 335 0.023 330 - 560 230 0.047 EHR 9708 290 - 475 185 0.02 EHR 9709 250 - 275 25 0.024 320 - 345 25 0.032 EHR 9710 175 - 200 25 0.062 330 - 380 50 0.021 The gold mineralization encountered this year within the Elliot High Ranch structure implies an increase in the overall resource. The Railroad project (55 sq miles) is on the Carlin Trend and lies at the intersection of the Carlin Trend and the Pinon anticline structure. The project is adjacent to the producing Rain and soon to be operational Emigrant Spring gold mines. During 1997, Mirandor carried out an initial reconnaissance type drill program consisting of shallow holes in favorable areas. This short program resulted in the discovery of three new gold zones (Elliot High Ranch, Lt East and Bunker Hill) and enhanced the potential at the surface POD zone where probable reserves of 1.4 million tons at a grade of 0.085 are presently known. Kinross and Mirandor formalized an agreement in March of this year whereby Kinross may earn a 50 per cent interest in the project by expending $10-million and an additional 10 per cent by expending $7.5-million on a positive feasibility study. Upon completion of the positive feasibility and Kinross will furnish, if necessary, the completion guarantee on Mirandor's behalf. Based on these initial results received at the start up of a major drilling program on a high potential property, Mirandor is awaiting results from the next holes. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com