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Gold/Mining/Energy : PolyMet Mining Corp POM.V (was Fleck Resources) -- Ignore unavailable to you. Want to Upgrade?

To: Elizabeth Andrews who wrote (535)	10/10/1998 5:21:00 PM
From: Jacek Nowak	Respond to of 708

New press release POLYMET MINING CORP ("POM-V") - 1998 Dunka Road Drilling Program, Additional Assay Results The press release of October 8, 1998, sent to some shareholders prior to discovery of the reporting error found in gold, platinum and palladium, is rescinded and replaced by this news release. PolyMet Mining Corp. is pleased to announce additional results from its 6365-foot reverse circulation drill program. As of September 25, 14 holes were completed in the drill program. The news release of August 27 reported assay results for the first two drill holes, (98-114B and 98-113B). This release reports assay results from the subsequent five drill holes of the program. (See attached drill hole map for hole locations relative to the previous US Steel drill holes). Assay data for the remaining drill holes are expected soon. Average Assay Values Drill Hole Primary Mineralized Cu Ni Co ppm Number Interval Percent Percent (Thickness in feet) 98-105B (0' to 25') 25' 0.59 0.16 88.2 98-105B (35' to 115') 80' 0.38 0.12 99.3 98-105B (160' to 195') 35' 0.38 0.12 115.7 98-108B (20' to 65') 45' 0.42 0.15 80.5 98-108B (85' to 105') 20' 0.36 0.12 60.7 98-86B (295' to 535') 240' 0.48 0.14 80.2 98-201C (270' to 505') 235' 0.43 0.13 71.1 98-210C (535' to 590') 55' 0.35 0.11 75.1 98-113C (185' to 305') 120' 0.39 0.15 118.9 Average Assay Values Drill Hole Primary Mineralized Au Pt Pd Copper Number Interval g/t g/t g/t Equilvalency (Thickness in feet) Percent (1) 98-105B (0' to 25') 25' 0.065 0.119 0.538 1.71 98-105B (35' to 115') 80' 0.058 0.090 0.279 1.26 98-105B (160' to 195') 35' 0.036 0.060 0.169 1.22 98-108B (20' to 65') 45' 0.061 0.136 0.386 1.42 98-108B (85' to 105') 20' 0.057 0.105 0.342 1.16 98-86B (295' to 535') 240' 0.084 0.115 0.465 1.50 98-201C (270' to 505') 235' 0.079 0.101 0.448 1.37 98-210C (535' to 590') 55' 0.036 0.057 0.399 1.16 98-113C (185' to 305') 120' 0.037 0.067 0.266 1.37 (1) Assuming metal prices of U.S. $0.76/lb for copper, U.S. $1.83/lb for nickel, U.S. $25/lb for cobalt, U.S. $290/oz for gold, U.S. $353/oz for platinum and U.S. $283/oz for palladium. Actual payable values received will depend upon recovery, which may vary for different metals, and prevailing metal prices. Note: ppm: parts per million, g/t: grams per metric tonne Cu: copper, Ni: nickel, Co: cobalt, Au: gold, Pt: platinum, Pd: palladium Both the thickness and grade of the mineralized interval in 98-105B and 98-108B are less than the values reported on August 27 for holes 98-114B and 98-113B. Based on the attached geologic map, both of these holes occur on the northwest side of a fault. The relative movement on the fault brings the mineralized unit to the surface on the northwest side and down-drops it on the southeast side. (Note the shallow depth of mineralization in hole 98-105C, 0-195 feet, vs. the depth of mineralization in hole 98-86B, 295-535 feet.) Erosion apparently has removed some of the mineralized thickness on the northwest side of the fault. All material from this drill program is sampled every five feet and shipped to Acme Analytical Laboratories in Vancouver for assaying. Chemex Labs is conducting check assays. Reverse circulation chips of average mineable grade identified from the assay results are being stored and will be sent to Lakefield Research Laboratories in Brampton, Ontario. The samples will be crushed, ground, and subjected to flotation to make a bulk sulfide concentrate. This concentrate will be shipped to different metallurgical labs for bio-leaching, pressure oxidation leaching, and other hydrometallurgical studies. DONALD W. GENTRY, PRESIDENT AND CEO This news release was prepared by Donald W. Gentry on behalf of PolyMet Mining Corp., which is solely responsible for its contents. NOTE: Location map is available from the number listed below. TEL: 1-800-221-9492 Vancouver Office PolyMet Mining Corporation Email: info@polymetmining.com Website: polymetmining.com TEL: (877) 233-4831 Company Headquarters PolyMet Mining Corporation