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Technology Stocks : Xenolix Technologies (XTCI) 'Ecstasy'(Formerly MGAU) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (2780)	2/16/1999 4:24:00 PM
From: Craig Wilson	Read Replies (1) \| Respond to of 5143

Press release: MG NATURAL RESOURCES) (MGAU) MG Natural Resources Corporation Reports Gold Recovery and Completion of $1,000,000 in Financing February 16, 1999 On January 7, 1999, MG announced 35 pounds of concentrate had been produced from a 500 pound bulk sample. This was a test conducted by MG using Johnson/Lett technology. Ten pounds of the concentrate has been refined into a gold button weighing 2.7713 grams. The button was analyzed by a scanning electron microscope with the results indicating 82.87 % gold. Back calculations to head ore indicate a gold recovery of 1.034 opt/au. The MG press release of February 4, 1999 stated fire assay grades on the concentrate had an average head ore result of 0.563 opt/au. The recovery of 1.034 opt/au indicates a recovery of 184 % of the assayed concentrate utilizing the Johnson/Lett recovery technology. The Board of Directors of MG Natural Resources Corporation has reviewed the results from this internal chain of custody procedure. The management "due diligence" program including assay and recovery procedures and results, has satisfied the Directors of the proven technology of Johnson, Lett & Company. MG Directors have approved in principle, the acquisition of Johnson, Lett & Company, including all their assets and technology. The acquisition is subject to completion and execution of a definitive purchase agreement. MG has recently raised one million dollars, ($1,000,000) through a limited offering involving 50% MG Investors and 50% J/L Investors. The funds are for the expenses incurred with the due diligence program of testing and proving the J/L technology and also to build a pilot plant for Sinagua ore. Start-up production is planned to begin within 90 days. The J/L recovery process appears to be economical. In order to minimize the cost, maximize the profit, establish the criteria for a pre-feasibility study and to establish the specifications for the pilot plant, a one ton sample of Sinagua ore is currently being processed for extraction. The processing of this ore and documentation of findings, is the first joint effort of MG & J/L toward fulfilling the MG Mission Statement, " to enhance shareholder value" MG Natural Resources Corporation is a diversified, environmentally responsible natural resource company. Its mission is to continue building a natural-resource company by acquiring, developing and operating resource assets, converting them to significant cash-flow generators and thus enhancing shareholder value. Forward looking statements in this release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, commodity prices of precious metals, increased levels of competition for the Company, perfection of extraction technology, the Company's dependency upon third- party suppliers, intellectual property rights and other risks detailed from time to time in the Company's periodic reports. The Company assumes no obligation to update the information in this release. All inquiries can be made through the offices of MG Natural Resources Corporation at 1334 E. Chandler Blvd., #5, B-72, Phoenix, Arizona 85048 or by calling Mike Amundson, President and CEO, at (602) 460- 7842 or Fax at (602) 460-6324. MG Natural Resources information can also be obtained through its Web Site, mg-resources.com