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

To: John M. Willis who wrote (3697)	10/8/1998 6:03:00 PM
From: Steve Stakiw	Read Replies (2) \| Respond to of 4057

Fairmile Extends Gold Mineralization at Buffalo Valley FAIRMILE GOLD CORPORATION October 8, 1998 ASE: FLA Fairmile Extends Gold Mineralization at Buffalo Valley Vancouver, BC - Fairmile Gold Corporation (Fairmile, ASE:FLA) has completed a drill program consisting of 8 holes (5,440 feet) on its wholly-owned Buffalo Valley gold property, located along the prolific Battle Mountain/Eureka Gold Trend in north-central Nevada. Seven of the holes were drilled at Target L; a gravel-covered area located immediately west of the known 600,000-ounce A/B/O Complex resource. The drilling tested anomalies identified by geochemical and geophysical work. The results show strong ability to expand the A/B/O Resource to the west and identified feeder structures that could expand the gold resource further. Several areas require additional drilling. Holes F98-2 through -7 were drilled in the eastern portion of Target L, where geophysical data indicated that a series of northwest-trending faults lay under gravel cover. These interpreted faults were anticipated to parallel the Buffalo Valley Fault, a high-grade feeder structure for the A/B/O Complex. Drill results identified two, and possibly three, new mineralized faults which could have acted as feeders for Target L. Highlights of the recent drilling program are shown below. Drill Hole# Total Depth ft Orientation Intervals in feet averaging +0.01 opt Au F98-4 705' -80, S60W 425'-510' (85') 0.021 opt Au (incl. 20' 0.067 opt Au) 600'-630' (30') 0.010 opt Au F98-6 765' -60, N60E 395'-435' (40') 0.041 opt Au 485'-570' (85') 0.034 opt Au (incl. 10' 0.140 opt Au) 655'-700' (45') 0.037 opt Au F98-7 705' -75, N60E 505'-510' (5') 0.062 opt Au 540'-555' (15') 0.017 opt Au F98-8 705' -70, N60E 390'-555' (165') 0.018 opt Au Holes F98-4, -6 and -7 were drilled into one of these faults. These holes intersected significant gold mineralization (see table) between Target L and the Target B portion of the A/B/O Complex, demonstrating the continuous nature of the gold mineralization. While Holes F98-2, -3, and -5 did not encounter economic concentrations of gold, they did identify strongly altered sediments and Tertiary dikes along other geophysical lineaments. Hole geochemistry indicates that the holes drilled were interior to projected gold zonation. Further drilling is required to define the gold zone. Hole F98-8 lies in the western portion of Target L. This hole intersected a favorable gold mineralized host rock that has now been encountered in four widely spaced holes in this area. Each of the four holes encountered long intervals of continuous gold mineralization. Significantly higher-grade mineralization may occur where feeder structures cut this favorable host. Several locations within Target L have a similar geologic setting to the setting that hosts the 600,000-ounce gold resource at the A/B/O Complex. One condemnation hole (F98-1) was drilled on leased land southeast of Target L, where it did not encounter significant gold mineralization. Fairmile's recent drilling program confirms the existence of several mineralized structures that are parallel to the Buffalo Valley Fault zone and provides the potential to expand the Buffalo Valley gold resource. Fairmile will seek a joint-venture partner at Buffalo Valley in order to follow-up on this year's successful drilling program. A technical summary of the 1998 program is being prepared, and it will be posted on the Company's Web site in about two weeks. For further information visit Fairmile's Web Site at fairmile.com or contact Investor Relations at 1-888-599-6777. "Thomas R. Kelly" Thomas R. Kelly, President The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. Telephone: 1-888-599-6777 Toll Free Fax: (604) 608-2949