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Gold/Mining/Energy : BANDORE -- Ignore unavailable to you. Want to Upgrade?

To: MrsNose who wrote (1322)	1/18/1999 2:12:00 PM
From: MrsNose	Respond to of 1692

Band-Ore Resources Ltd. - New Discovery TORONTO, ONTARIO--Band-Ore Resources Ltd. is pleased to announce that the Company has entered into an agreement with a private Company, Whalen Resources, allowing Band-Ore the right to earn a 75 percent interest in the 54 claim unit (2160 acres), Q-9 precious metals property located approximately 120 km west of Thunder Bay Ontario. Band-Ore will earn its interest by making cash payments totaling $100,000, issuing 100,000 common shares in accordance with OSC policy, and by incurring exploration expenditues of $200,000. Band-Ore will be the project operator. The agreement is subject to regulatory approval. In December, 1998 well known Thunder Bay area prospectors, (Stephen and Michael Stares) discovered visible gold in a quartz vein along the west shore of Cunniah Lake while claim staking. The gold mineralization occurs as fine disseminated grains in a quartz vein approximately 1.5 metres in width and is exposed for a strike length of approximately 9 metres. A review of previous work in the area indicates that the westerly extension of the vein had been intermittently sampled by previous land holders. However, the new discovery area (area with abundant visible gold) had never been sampled and the easterly extension of the discovery which dips under Cunniah Lake remains unexplored. A review of previous work in the area also indicates that this vein structure has never been drill tested. The due diligence review of the property included numerous grab samples of the mineralized vein by Qualified Persons (QP) Robert Duess and Bruce Durham (Vice Presidents of the Company and experienced geologists). All samples were assayed by Swastika Laboratories where standard fire assaying and check assays were completed. Check assays were also performed by a second independent laboratory (Bourlamaque Assay Laboratories in Val d'Or, Quebec). The assay results from both independent labs compare extremely well and are listed as follows: /T/ SWASTIKA BOURLAMAQUE (check assays) -------- ----------- Sample No GOLD SILVER GOLD SILVER OZ/TON OZ/TON OZ/TON OZ/TON 51464 20.14 420.9 20.45 418.1 51465 6.93 433.9 6.86 385.8 51466 9.62 302.3 9.35 299.5 51467 30.69 537.4 28.36 546.4 51468 54.78 432.6 55.87 517.3 51469 0.65 1.14 0.634 0.7 51470 0.035 0.42 0.022 0.3 51471 0.073 1.02 0.10 0.8 51472 0.071 1.21 0.061 0.9 51476 16.54 271.7 18.31 284.1 /T/ In addition to check assaying, petrographic and mineralogical analysis of the mineralization was completed by Vancouver Petrographics Inc. Results of the petrographics and SEM (scanning electron microscope) analysis shows that vein material is mineralized with coarse patches and wispy veinlets of native gold (of a very high purity) hosted within patches and veinlets of silver telluride (petzite). A 1,500 metre diamond drilling program estimated to cost approximately $150,000 is currently being planned and drilling is expected to commence in early February, 1999. Band-Ore is well financed with over $ 1.5 million in working capital with no debt. All exploration on the property will be supervised by the Company's Qualified Persons. This press release was prepared in accordance with the new proposed industry standards for mining and exploration companies listed on the Toronto Stock Exchange. Interested parties are invited to view digital images of the outcrop and mineralization on the Company's web site at www.band-ore.com., starting on Tuesday January 19, 1999. THE PRESS RELEASE WAS PREPARED BY BAND-ORE RESOURCES LTD. WHICH ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. NO REGULATORY AUTHORITIES OR SIMILAR BODY, HAVE APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Band-Ore Resources Ltd. Wayne O'Connor President (416) 365-0811 band-ore.com Edit: Trading will resume at 2:30 EST