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Gold/Mining/Energy : Diamonds in Alberta, Ashton, Pure Gold, Montello, New Cla -- Ignore unavailable to you. Want to Upgrade?

To: Jesse who wrote (732)	10/22/1998 4:01:00 PM
From: Famularo	Read Replies (1) \| Respond to of 822

October 22, 1998 TSE SYMBOL: PUG PURE GOLD'S DIAVIK AREA CLAIMS CONSIDERED PROSPECTIVE FOR KIMBERLITES - LAC DE GRAS AREA Donald R. Sheldon, President of Pure Gold Minerals Inc., is pleased to provide an update on the prospectivity of the Pure Gold North and South claim blocks located 55 km east of the cluster of economic kimberlite pipes of BHP-Dia Met - Ekati Diamond Mine. In 1992, Pure Gold Minerals Inc. acquired a 75% interest in the Diavik area claims and subsequently optioned the properties to Aber Resources Ltd. ("Aber Resources"). Exploration on the properties was directed by Aber Resources from 1992 to 1995. Since then Kennecott Canada Exploration Inc. and Diavik Diamond Mines Inc. (together referred to as "Rio Tinto")conducted extensive detailed airborne geophysical surveys, till sampling for kimberlitic indicator minerals, ground geophysics and limited diamond drilling. A compilation of all exploration work was recently completed by Rio Tinto on both claim blocks to ascertain their prospectivity for discovery of diamoniferous kimberlites. It was concluded that there were two kimberlitic heavy mineral anomalies that appear to be sourced from the Pure Gold properties and are worthy of further investigation. Although the anomalies are subtle, several airborne anomalies are located up ice from the anomalous tills. In addition, at least two ground geophysical anomalies have been delineated as possible drill targets. The Pure Gold properties fall along the eastern margin of the Lac de Gras kimberlite field and are within the desired geologic and tectonic environment for finding diamondiferious kimberlites. Pure Gold currently has a 49% interest in the North claim block and a 45% interest in the South block. Representatives of Pure Gold and Rio Tinto recently met to discuss a follow-up exploration program and budgets for the winter program. For further information contact: Donald R. Sheldon - President -or- Carina Bittel - Shareholder Information (604) 682-1240