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Gold/Mining/Energy : Royal Oak-RYO -- Ignore unavailable to you. Want to Upgrade?

To: Michael Bidder who wrote (1170)	8/7/1998 5:57:00 PM
From: Mike G	Read Replies (1) \| Respond to of 1706

Interesting News release today from RYO. Royal Oak Mines Inc RYO Shares issued 140,865,079 Aug 6 close $0.92 Fri 7 Aug 98 News Release See Asia Minerals Corp (AMP) News Release Mr. David Owens reports Asia Minerals has closed a joint venture agreement with Arctic Precious Metals, a subsidiary of Royal Oak Mines, to explore and develop the Copperstone gold property in La Paz County, Arizona. Upon closing, Asia Minerals purchased a 25 per cent interest in the project and acquired an option to earn up to an 80 per cent interest in Copperstone. Copperstone is a proven gold deposit. Cyprus Minerals produced 500,000 ounces of gold from an open pit mine between 1987 and 1992. The gold deposit extends below the limit of open pit mining and diamond drilling by Royal Oak Mines, between 1995 and 1997, resulted in the discovery of a new high grade zone of gold mineralization in the northwest strike extension of the deposit. The Northwest high grade zone contains a drill indicated resource of 574,040 tons at a gold grade of 0.53 oz/t (18.3 g/t). The down dip and on-strike tension of this high grade zone is open. Asia Minerals plans to begin a 10,000 feet surface drilling program in September to extend and further define the Northwest high grade zone. This zone has the potential to contain over 1 million ounces of gold. An underground mine feasibility study will commence in 1999 if the planned drilling program successfully confirms the existing gold resource. A 750 tons per day underground mine has the potential to produce up to 100,000 ounces of gold per year at a cost of under $200/ounce. The Copperstone property is in an established Arizona mining district. Mine infrastructure, including a high voltage power line, a water supply, an operating mine office and road access, is already established on the property. A potential underground mine portal location is available within the open pit.