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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth R. Moss who wrote (8305)	1/12/1999 11:59:00 AM
From: Handshake™	Read Replies (2) \| Respond to of 25548

Things do get in the way...I would expect delays as well but lets keep the toes, fingers, arms, legs crossed... Tuesday January 12, 10:37 am Eastern Time Company Press Release Sepik Gold: Drill Program Fully Underway VANCOUVER, BRITISH COLUMBIA--Sepik Gold Corporation (''the Company'') announces, that after unforeseen delays, the drilling programme at Milikap, the porphyry gold project of Sepik Gold Corporation in the Central Highlands of Papua New Guinea is fully unde rway. The crew worked throughout the Christmas period and has, as of the 12 January 1999 completed hole MK1 to a depth of 120m and MK2 to a depth of 138m. During the crew change on Friday, January 8, 1999, split core from MK1 of 120m and the completed portion of MK2 , being 78m, was forwarded to the labs for analysis. DDH MK3 is underway. The remaining core from MK2 will be forwarded to the labs upon completion of MK3. Due to the continuous visible presence of alteration and mineralisation in the holes, additional drill pipe is being helicopter transported into the site. The first hole after considerable startup problems encountered strong phyllitic and silisic alteration with massive secondary propylitic alteration dominated by chloritic and silisic assemblages. Sulphidic, silisic and carbonate veins with disseminated alteration overprinted with chalcopyrite and sphalerite mineralisation was prominent. The first hole was targeted to intersect a massive sequence of cross cutting quartz veins associated with E-W and N-S intersecting veins system observed in hand dug trenches through 4m of jungle covered saprolite assemblages. Hole MK1 was targeted to th e South at 50deg. inclination. MK2 is currently being drilled at 090 azimuth and 60 deg. Inclination. It is in similar lithologies as MK1 but displaying more sulphidic mineralisation. Hole MK1, 2 and 3 are being drilled at azimuth 180deg., 090 and 270 to a TD of 120-140m depth. Although progress is slow due to current weather conditions and rock type parameters, recovery has been 100 percent. All split cores have been forwarded to the company's consultant analyst and the first assay results are expected in the coming 10 days. Half core is held in secure holdings. Petrology and mineralogy samples will be selected upon receipt of assay results. The Company will expand its holdings in the area after the Warden's hearing on 24 January 1999 which is expected to authorise extension of the Awari License where drill hole targets have been delineated and drill pads prepared. Sepik Gold Corporation is a mineral exploration company focused on the identification, exploration, and development of high quality exploration properties in Papua New Guinea, one of the most exciting areas for gold and porphyry copper exploration. Our objective is to enhance the value of our properties through exploration, prior to the involvement of a corporate major. Papua New Guinea's proven geological potential and relatively low gold extraction costs, position it as a favorable exploration targe t for the Company. ON BEHALF OF THE BOARD OF DIRECTORS Ford Nicholson, President --------------------------------------------------------------------------------