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Gold/Mining/Energy : Major General--MGJ -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (842)	11/17/1998 10:21:00 PM
From: sbest	Respond to of 1707

News Release Subject: News Release NR98-35 Date: Tue, 17 Nov 1998 15:57:27 -0500 From: "MAJOR GENERAL RESOURCES LTD." <mmackie@intergate.bc.ca> To: info@majorgeneral.com 1550 - 409 Granville Street Vancouver, B.C. V6C 1T2 Tel. (604) 685-5254 Fax: (604) 685-2814 Date: November 17, 1998 Vancouver Stock Exchange: MGJ Shares Issued: 36,945,680 News Release #98-35 DESPINASSY GOLD PROJECT, QUEBEC Major General Resources Ltd. announces that Cameco Gold Inc., subsidiary of uranium producer Cameco Corporation, has renewed its option on the Despinassy Gold Property for the second year by making a cash payment of $20,000. Cameco has recently completed additional linecutting in preparation for a 30 kilometre Induced Polarization (I.P.) survey that is intended to locate sulphide zones which host the gold mineralization on the property. The I.P. survey will commence shortly and is expected to outline new targets that will be tested by a drilling program planned for early 1999. Earlier this year, Cameco completed geophysical surveys and 1389 metres of drilling in 7 diamond drill holes. This work resulted in the discovery of a second zone of gold mineralization parallel to the original Despinassy Ideal Gold Zone which has been traced by drilling for over 1500 metres strike length. Numerous intervals grading over 1 g/T Au have been intercepted in the Ideal Zone, including values of 8.0 g/T Au over 1.5 metres and 16.2 g/T Au over 0.7 metres. Wide intercepts of anomalous gold values with extensive alteration were encountered in the new Parallel Zone with shorter intervals grading up to 4.9 g/T Au over 1.2 metres. Both zones exhibit classical Abitibi style, shear hosted gold mineralization with associated quartz veining and sulphide mineralization. Two late stage quartz porphyry dykes are also closely related to the gold mineralization in these zones. The similar geological and geochemical signatures of the two zones have been interpreted by Cameco geological staff to represent two limbs of a possible fold. The zones appear to be open both along strike and to depth. Cameco may earn a 60% interest in the Despinassy property which is located about 100 kilometres north of Val d'Or, Quebec and is directly accessible year round by all weather highways. During 1998 an additional 35 claims were staked thus increasing the size of the property to the current holding of 60 claims. ON BEHALF OF THE BOARD OF DIRECTORS Glenn G. Shevchenko President Contact: Investor Relations Major General Resources Ltd. (604) 685-5254 majorgeneral.com email:info@majorgeneral.com The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.