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Gold/Mining/Energy : Cypress Min. (CYP.V) Diamond Fields clone? -- Ignore unavailable to you. Want to Upgrade?

To: Zardoz who wrote (489)	2/11/1999 9:57:00 PM
From: wayne cath	Respond to of 595

Cypress Minerals Corp CYP Shares issued 13,970,781 Feb 10 close $0.14 Thu 11 Feb 99 CYPRESS MINERALS CORP Corporate Update - February 1999 Claims acquired near Nuinsco discovery: Cypress Minerals ("the Company") is pleased to announce that its field crews have confirmed the staking of 115 claims immediately northwest of the Nuinsco Resources nickel discovery in the Matagami mining camp of northwestern Quebec. The claims were staked on the basis of favourable geology and proximity to Nuinsco's core holdings. Falconbridge Limited, one of the largest nickel producers in the world, holds an L-shaped block of claims within the overall confines of the Company's holdings. None of the Cypress claims are within the Quebec government's restricted land reserve for its James Bay hydro project which accounts for a large amount of geologically prospective terrain in the region. The southeastern boundary of the Cypress claim block is estimated to be approximately two kilometers northwest of Nuinsco's core exploration area. Quebec government maps show a significant nickel showing just over the southeastern boundary of the Company's holdings. Major intrusive, magnetic high transect property: The Cypress claims host a large, north-south trending mafic intrusive consisting of pyroxenite, gabbro and carbonatite. This mafic intrusion is bounded to the west by granitic rocks, to the east by a thin wedge of biotite schist, and to the north by an elongated section of monzonite. A regional airborne geophysical survey shows a strong magnetic high transecting the Cypress property along its north-south axis. Government geological maps also show a series of diabase dykes either cross-cutting or trending into the southern portion of the Company's holdings. The Company's field crew was among the first to establish a camp in the area and was not affected by the inclement weather that restricted helicopter access into the region by competing companies. Excellent portfolio of advanced stage properties: Cypress Minerals' principal asset is its South Voisey's Bay Joint Venture (SVBJV) in Labrador. The Company holds a 37.5% interest in 785 claims in three separate claim blocks covering portions of the central, south-central and southeastern parts of the SVBJV. Teck Corp., a diversified Canadian mining company, is the contract operator for the project. Approximately $9 million was spent on the SVBJV in 1998 and another major exploration program is planned this year. The Company also holds the right to earn a 25% interest in the Durham-McEwen gold property in the Red Lake mining camp; this property adjoins a major discovery by TSE-listed Goldcorp Inc. which averages almost 1.4 ounces gold per ton and is believed to be the richest gold find in North America. Drilling is expected to resume on the Company's Durham-McEwen property this Spring. In the historic Timmins Mining Camp, Cypress can earn a 75% interest in three patented mineral claims in Hislop Township, approximately one kilometer from the Glimmer Gold Mine. The Company intends to drill this property in the first quarter of 1999. Leader among junior sector companies: Cypress Minerals' portfolio of high-quality, active exploration projects makes it a leader among junior sector companies. Significant results from any one of the Company's outstanding exploration projects is certain to generate intense market interest in Cypress Minerals over the next several months. With a working capital of approximately $650,000, the Company is well financed to meet its exploration obligations. For detailed information on Cypress Minerals, including location maps for its various projects, please visit the Company's Web Site at: cypressminerals.com. For additional information: Ph: (604) 687-3376 or 1-800-665-3390 Fax: (604) 687-3119 Email: mailto:info@cypressminerals.com ************************************************************************* This bulletin is sponsored and has been sent to you for no charge. THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! To remove yourself from this mailing list, access this URL: canada-stockwatch.com For more information about this service please contact the advertising department at Stockwatch 800.268.NEWS or 604.687.1500 *************************************************************************