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Gold/Mining/Energy : Int'l Pursuit (T.IPJ) -- Ignore unavailable to you. Want to Upgrade?

To: Alex Harrington who wrote (724)	9/2/1998 6:19:00 PM
From: Ron Everest	Read Replies (1) \| Respond to of 835

NEWS There appears to be a clue in this news release as to the problems experienced with the Hinoba-an property at the end of this release. Strange that the markets would price IPJ with no basic value to their extraordinary properties. RE Indonesian exploration continues International Pursuit Corporation IPJ Shares issued 28,562,795 Sep 1 close $0.45 Wed 2 Sept 98 News Release Mr. Stephen Dattels reports Exploration activity on the company's Mahakam contract of work in Kalimantan, Indonesia continues to yield exciting results. Recent prospect work has included detailed technical surveys of the previously announced copper-molybdenum-gold porphyry discoveries at Manto and Tebihi. In addition regional prospecting and geochemical surveys have now found new promising epithermal gold prospects. Mahakam Porphyry Discovery Over the last year Pursuit has identified an important area of mineralized intrusive structures termed the Mahakam Cluster within the Mahakam East CoW. The south and east zone of this 20km diameter area are occupied by the Manto (Cu plus Mo) and Tebihi (Cu plus Mo plus Au) porphyry intrusives. Recent detailed surveys to the north and northwest areas have now confirmed an area of potential epithermal gold deposits. Seleheh Gold Discovery The Seleheh prospect has recently been identified by Pursuit personnel as a classic low sulphidation epithermal gold environment. A first pass sampling program yielded results of up to 2.2 g/t Au and 71 g/t Ag with high base metal values. Alluvial gold workings by locals are evident downstream from these areas. The combination of geologic data suggests the potential for porphyry-related stockwork deposits which are commonly multi-million ounce in size. Mahakam West Exploration In the Mahakam West block recent geochemical results have identified two new potential targets - Naha Silat and Piyomgi. The latter was identified earlier as a potential copper porphyry and these results confirm high copper and gold values. Naha Silat is still an early prospect area but results have yielded extremely high silver, gold and copper values. Pursuit's Indonesian properties are being actively reviewed by several major mining companies which are considering joint ventures with the company. Hinoba-an Project There are no new developments as yet in Pursuit's endeavours to sell or joint venture this project. The original claim owners of the Hinoba-an property who had consented to Pursuit's interest in the property have made certain adverse claims against the property. Pursuit's counsel in the Philippines considers that these claims are without merit.