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Gold/Mining/Energy : LAYFIELD RESSOURCES (LAY-VSE) -- Ignore unavailable to you. Want to Upgrade?

To: hedger who wrote (453)	12/15/1998 3:11:00 PM
From: John Fairchild	Read Replies (1) \| Respond to of 528

NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: CONTIKI RESOURCES LTD. VSE SYMBOL: TKI DECEMBER 15, 1998 Contiki Begins Drilling At Molopo VANCOUVER, BRITISH COLUMBIA--Drilling at Contiki Resources' Molopo diamond property in southwestern Botswana commenced on the weekend, President Don Moore announced today. Molopo is one of eight known kimberlite fields in Botswana. Two already have developed mines - Jwaneng and Orapa/Letlhakane and a third, Gope has a project in feasibility. Botswana is the largest producer of diamonds, by value, in the world and Molopo has some of the largest kimberlite pipes in the world. Contiki's ground, PL 139/93 is in the heart of the most prospective ground at Molopo. It already has 28 known pipes 27 of which are unevaluated. Contiki will drill 12 holes, one each into 12 targets (2 known diamondiferous kimberlite pipes, 3 known kimberlite pipes and 7 high priority undrilled geophysical targets). These known kimberlite pipes are all highly prospective - previous work has identified kimberlite but the pipes, as yet, have not been evaluated for economic diamond potential. The first four drill targets in a subcluster of known diamondiferous kimberlite pipes are: /T/ Target Target Expected Drill Target Description Number Diameter Depth (meters) to Target (meters) 94-39 300 80 Not previously drilled large magnetic anomaly, 4 known kimberlite pipes nearby - 2 contain microdiamonds. M-31 1,050 80 Very large kimberlite pipe (over 80 hectares) one previous hole by Falconbridge. No modern drilling. 94-41A 150 60 Not previously drilled magnetic target on a NW trend between 2 known kimberlite pipes. M-38 300 80 No modern drilling on this diamondiferous kimberlite pipe discovered by Falconbridge. /T/ Contiki is earning a 60 percent interest in PL 139/93, Southern Africa Minerals Corporation will retain a 25 percent participating interest and Layfield Resources Inc. will retain a 15 percent participating interest. ON BEHALF OF THE BOARD Donald G. Moore, President and Director -30- ===================================================== I am in at .11. A no brainer at this price. John