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To: bill who wrote (1363)	10/14/1998 8:38:00 PM
From: bill	Respond to of 2251

T Canada NewsWire Give us your message. We'll give you the world. Canadian Quotes from Telenium WSP. (VSE) Attention Business Editors: Winspear Resources Ltd. reports on the drilling program in the Snap Lake area VANCOUVER, Oct. 14 /CNW/ - Winspear Resources Ltd. (WSP-V) is pleased to report on the drilling program in the Snap Lake area, Camsell Lake property, which has now been suspended with the on-set of winter ''freeze-up'' conditions. Results of the recently completed detailed drill program on the NW dyke were reported October 5. Since that time, an additional five holes have been drilled at Snap Lake to further determine the extent of the NW dyke bringing the total drilled under this program to 71 holes (5410 metres). These holes have added significantly to the tonnage potential of the NW kimberlite dyke as indicated below. As recently agreed with its joint venture partner, Winspear's interest in the Camsell Lake property is now formally established at 67.76% as a result of its sole-funding of the original 1998 program. Winspear and its joint venture partner each funded its pro rata share of the subsequent 1998 Supplemental Program on the property. North Shore Holes: Three vertical holes were drilled on the north shore of Snap Lake. Kimberlite characteristic of the NW dyke was intersected in all holes over potentially mineable widths. The first hole (CL98-15), collared about 200 metres north of the NW peninsula across Snap Lake on the north shore and about 500 metres down-dip from the projected sub-crop, intersected 2.8 metres of dyke material at a depth of 98.7 metres. The second hole (CL98-16) was collared about 150 metres north of CL98-15 and about 450 metres east (approximately 1000 metres east of the projected sub-crop). This hole returned two intersections of kimberlite measuring 2.0 and 2.1 metres at a depth of 212 and 232 metres respectively. The third hole (CL98-19) was collared approximately 300 metres north and 100 metres east of CL98-15. This hole returned a 2.6 metre intersection of hypabyssal kimberlite that is hosted in granitic rocks. Down-Dip Holes: Two deep holes, CL98-17 and CL98-18, were drilled to test the down-dip extent of the NW dyke. Both holes were drilled from islands near the eastern shore of Snap Lake. In the 1998 spring drilling program, hole CL98-13, also drilled from an island on the east side of Snap Lake, had intersected the NW dyke about 1800 metres east of the subcrop on the NW peninsula. Hole CL98-17 was collared about 300 metres north and 400 metres east of CL98-13. This hole returned a 2.5 metre intersection of kimberlite typical of the NW dyke at a depth of 478 metres that is hosted in granitic material. This intersection occurs approximately 150 metres below the projected depth of the NW dyke at this location and either reflects a change in attitude or a separate segment of the NW dyke. The hanging wall of this kimberlite intersection is marked by significant alteration of the enclosing granitic rocks whereas the footwall is relatively unaltered. Hole CL98-18, collared approximately 160 metres south and 350 metres east of CL98-13, was drilled to a depth of 334 metres but only intersected a 15 cm kimberlite dyke at a depth of 264 metres in the hole. Although this hole tested the NW dyke as projected through from hole CL98-13, it may not have continued deep enough to test the projection of the kimberlite intersected in CL98-17. Summary: These drill holes have significantly expanded the tonnage potential of the NW dyke system. In a northerly direction parallel to strike, a potentially mineable thickness of hypabyssal kimberlite occurs over approximately 1350 metres and it remains open in both directions. Notably, substantial amounts of kimberlite may underlie the north shore of Snap Lake where there was no previous indication of its existence from surface sampling and prospecting. In addition, the NW kimberlite dyke system has been extended to at least 2200 metres east of the subcrop on the NW peninsula and it remains open down-dip. The eastern down-dip margin of the NW kimberlite dyke system is defined only by drill holes CL98-13 and CL98-17. At this location, the strike length of the kimberlite system is at least 350 metres and it remains open to the north; subsequent drilling may extend this to the south as well. As previously reported, 43 regularly spaced holes were completed earlier this summer under the current program on that part of the NW peninsula underlain by the NW dyke in an area measuring about 850 by 200 - 400 metres. These results permitted MRDI Canada - a division of H.A. Simons Ltd. (''MRDI'') to define an estimated quantity of approximately 1,348,000 tonnes of kimberlite in this restricted area. Of this total, approximately 670,000 tonnes is considered to be potentially open-pittable. Furthermore, upon reviewing preliminary results from this drill program, MRDI identified no insurmountable technical issues from a mining perspective. Caustic fusion analyses of kimberlite intersections obtained from this current program, as well as 250 kg from each of the two pits sampled this spring, are in progress and results will be reported when they are received. Results will contribute to the geostatistical database on microdiamond distribution that is being established on the NW dyke for purposes of grade prediction. Based on widely spaced intersections to date, there is significant tonnage potential of kimberlite in the NW dyke system. Characteristics of the NW dyke as defined by the drill program on the peninsula offer optimism that more regularly spaced drilling on the down-dip portion under Snap Lake as planned for this winter season can reasonably be expected to add significantly to its defined tonnage. Winspear Resources Ltd. ________________________ John A. McDonald, P.Geo. Vice-President and Director The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. -30- For further information: John A. McDonald, Vice-President and Director, (604) 687-6644, fax (604) 687-1405