HUGE NEWS RELEASE FOR LATITUDE !!!!!!!!!!!!!!
I DO BELIEVE THIS WILL QUELL THE NAYSAYERS. The creditability and
professionalism of LTU's management is no longer an issue. IMO, LTU
will now be recognized as the WORLD CLASS exploration company I believed it would be.
LATITUDE MINERALS CORP.
SUITE 612, 475 HOWE STREET, VANCOUVER, BC. V6C 2B3
Tel: (604) 688-2010; Fax: (604) 689-2015; Toll-free I 800 668-0071
e-mail: mineral@mineweb.com
Trading symbol: LTU.V
NEW DIRECTORS APPOINTED
VANCOUVER, BC, September 28, 1998: LATITUDE MINERALS CORP. (LTU.V) is pleased to announce the
appointments of Mr. John R. Carden, Ph.D. and W. Donald E. Ranta, Ph.D. to the Board of Directors of the Company.
Additionally, Mr. Carden has consented to accept the role of President of the Company. He is to be based at the company's
regional office in Spokane, Washington.
Mr. Carden earned his Doctorate from the Geophysical Institute at the University of Alaska. He was formerly with Echo Bay
Mines from 1986 to 1997 in various roles, most recently as Director of U.S. Exploration. He was responsible for
generating a large number of mineral prospects for the Company and several discoveries including Lamefoot. The Lamefoot
Gold Mine is a magnetite replacement ore deposit containing over 560,000 ounces of gold located in Ferry County,
Washington. It has been Echo Bays lowest cost producer for three years running. He also discovered the Easy Junior
Mine, a 250,000 ounce sediment-hosted gold deposit located in White Pine County, Nevada. The deposit was sold to and
mined by Alta Gold. Additionally, he secured the Kilgore Joint Venture with Placer Dome and oversaw the expansion of
the resource from 300,000 ounces to over 600,000 ounces of gold. While Director of Exploration for Echo Bay, Mr. Carden
managed a staff of 13 with an annual budget of USD$3.0 - 5.0 million.
Prior to joining Echo Bay, Mr. Carden worked with Atlas Precious Metals Inc. (1984 - 1986) and Exxon Minerals
Company (1978 - 1984). From 1970 through 1978, Mr. Carden taught and/or conducted research at Kent State University
(Ohio), University of Alaska, and Western State University (Colorado).
Mr. Ranta, Ph.D. graduated from the School of Mines and Metallurgy, University of Minnesota, obtained his Master of
Science from the Mackay School of Mines, University of Nevada and completed his Doctorate at the Colorado School of
Mines. From 1993 to 1997, Mr. Ranta was Vice-President, Exploration with Echo Bay Mines. He managed a technical
professional staff of 40 with annual budgets of up to USD$37 million. >From 1986 to 1993, Mr. Ranta was Manager of
North American Exploration with Phelps Dodge Mining Company. While at Phelps Dodge, he managed a technical
professional staff of 47 and annual budgets up to USD$25.0 million.
Earlier in his career, Mr. Ranta was with AMAX Exploration Inc. (1983 - 1986), Climax Molybdenum Company, division
of AMAX Inc. (1975 - 1983), Gulf Mineral Resources Company (1974 - 1975), Climax Molybdenum Company (1972 -
1973) and Bear Creek Mining Company, division of Kennecott Copper Corporation, (1967 - 1972).
Currently, Mr. Ranta is President and Managing Director of Union Hill with three partners in the raising of private equity
funds for investment in the mining industry worldwide. Since 1964, Mr. Ranta has been a member of the Society for Mining,
Metallurgy and Exploration (SME-AIME) and is the President-elect for the year 2000. He has served as a member of the
Board of Directors of SME and is past Chairman of the Mining and Exploration Division. He has received a number of
Awards and Citations during his membership, most recently the SME President's Citation, 1994.
Additionally, Mr. Brian J. Hillhouse has joined the Company as Manager of Investor Relations. He is based in Vancouver and
can be contacted at 1 800 668 0071. The Company has agreed, subject to regulatory approval to grant incentive stock
options to employees consisting of 20,000 shares of the Company at an exercise price of C$0.50 for two years.
KILGORE AQUISITION APPROVED
The Company has received conditional approval from the Vancouver Stock Exchange for the acquisition of the Kilgore Gold
Deposit pending the closing of the previously announced private placement (September 02, 1998). Located in eastern Idaho,
the Kilgore Gold Deposit is a 600,000-ounce resource of which 417,000 ounces are mineable. Kilgore is a large
volcanic-hosted gold system, which shares geologic similarities to the world-class Round Mountain and McDonald Meadows
gold deposits. To date, over USD$ 6.0 million has been spent on exploration at Kilgore by Placer Dome, Echo Bay and
others.
Work done by Echo Bay in 1996 indicated the potential for the discovery of a new mineralized zone. A core hole intercepted
326 feet of mineralized ruff, stratigraphically below a sinter. The hole is significant because it identifies an open-ended target
with scattered ore-grade intercepts. Drilling to test this potential new discovery zone is scheduled to commence prior to
September 30.
Latitude Minerals Corp. is a junior exploration company based in Vancouver, B.C. with field offices in Spokane, Washington.
The Company is developing three advanced stage gold projects in Idaho and Montana, which contain a current global
resource of greater than 1.8 million ounces of gold.
On Behalf of the Board of Directors,
LATITUDE MINERALS CORP.
"Edwin A. Bomford
Edwin A. Bomford, Director
THE VANCOUVER STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE INORMATION CONTAINED HEREIN
|
