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Gold/Mining/Energy : Savanna -- Ignore unavailable to you. Want to Upgrade?

To: Colin who wrote (110)	9/8/1998 3:29:00 PM
From: Colin	Read Replies (2) \| Respond to of 192

SAVANNA RESOURCES LTD. SURINAME GOLD EXPLORATION UPDATE CALGARY, Sept. 8 /CNW/ - Based on high-grade gold assays obtained from quartz vein material and spectacular nuggets recovered from the alluvium, Savanna Resources Ltd. reports it is now focusing exploration of its 15,000 hectare Lawa permit in Suriname on a six square kilometre north-south zone in the southwest quarter of the permit. Exploration over the past year has now established the Lawa permit, located within the main gold-bearing greenstone belt of eastern Suriname, as a prime target for bedrock deposits of economic grade. Gold is present in the alluvials throughout this area, with all streams crossing the mineralized zone having been placer mined in the past. The northern third of the trend lies within an area from which a UN survey reported exceptionally high panned and bedrock gold values. A continuous chip sample of quartz vein material taken by Savanna's consultant this summer returned 2.43 ounces gold per ton across 3 m. The whole area is underlain by felsic intrusive rocks, in contact with mafic volcanic rocks to the west. Quartz veining occurs in both units. Panning results indicate the mineralized area is open to the east. Two kilometres to the south, alluvial mining conducted in 1996-97 recovered a documented 360 ounces of gold, much in nuggets, the largest of which weighed 22 ounces. Four kilometres further south, in the area where Savanna conducted a pilot alluvial operation earlier this year, a sample of sheared quartz vein material taken from the top of the weathered bedrock in the bottom of pit 8 assayed 4.2 ounces gold per ton. These discoveries of high grade gold in quartz and the ubiquitous presence of alluvial gold over a six square kilometre area clearly demonstrate the potential for a major bedrock gold occurrence. An expanded follow up program is planned. John M. Alston President The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. Visit our Website at www.savanna.net -30- For further information: John M. Alston, 1 (800) 793-8370 Fax: (403) 261-2866