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Gold/Mining/Energy : Sun River Mining (SUNR) -- Ignore unavailable to you. Want to Upgrade?

To: CIMA who wrote (467)	3/4/1999 2:38:00 PM
From: Jim Bishop	Read Replies (1) \| Respond to of 1650

New profile up: Stocktopics.com: Sun River Mining Company Profile Sun River Mining is an international mining company with an active gold mining project in the Challana River valley, Tipuani Gold Mining District, Bolivia. The company is currently in the process of evaluating other mineral prospects in Bolivia, the United States, and other mineral rich countries. Sun River Mining, Inc. trades on the OTC Bulletin Board under the symbol SUNR. Sun River is currently engaged in the development of a gold mine in the Challana River valley in Bolivia. On January 11, 1999 Sun River Mining, Inc. announced that its' Bolivian subsidiary, "Rio Del Sol", entered into an agreement with Cooperativa Minera Aurifera 26 de Septembre Ltda. (the "Cooperative"). The agreement grants Rio Del Sol the exclusive rights of exploration/development and exploitation of a producing mine on two concessions near the Challana River, in the Tipuani Gold Mining District of Bolivia ("Challana" property). The two concessions cover approximately 1,670 acres. Initial exploration and development work had been done by Giovanni Viscarra. Mr. Viscarra has 15 years geological exploration and mine development experience in the Tipuani Mining District. The Company is in negotiations with Viscarra regarding retaining his services as Mine Operations Manager. An independent third party audit was performed on the Challana property prior to completion of the agreement. During the investigation, 13 samples were collected for analysis of gold content. Assays results ranging from <0.002 to 5.21oz-gold/ton. The lowest assays, as expected, were from samples of materials deemed as out of the pay streaks or from material exiting the gold recovery sluice box. 2 samples were treated to determine recoverable gold content. The samples showed gold and silver recoveries of 98.1% and 98.4% respectively in minus 1/4 inch by 20-mesh product. Notable silver content was found in certain samples tested by the spotty or "nugget" procedure. There has not been sufficient exploration work conducted on this property to date that would permit preparation of a resource or reserve estimate. The independent report summarized the Challana as "a low-risk exploration project with significant upside potential, and a property that clearly merits further exploration and development." The assessment also stated that, "exploration work suggests that Challana could be developed as a small tonnage, low cost, high-grade underground gold mine. Property developed and managed, the project could be extremely profitable even at a long term gold price of US$300 per ounce." As indicated in the January 11, 1999 news release, the company is seeking funding for exploration work and payments on the property. The independent audit report ("Challana Report") and sampling results ("Hazen Report") and details of the Challana contract are available at the Company's web-site www.sunrivermining.com. In addition to the Challana property, on March 7, 1997, Rio Del Sol entered into a preliminary agreement (the "Aluvion Agreement") whereby Rio Del Sol would acquire an 81% interest in Aluvion S.A., a Bolivian corporation engaged in the acquisition and exploration of alluvial gold prospects in Bolivia. Following the completion of the Aluvion Acquisition, the Sun River Group will have interests in several additional gold prospects which it hopes to bring into production. The Aluvion prospects may be considered in two categories: (i) alluvial prospects where the target mineralization consists of the river bed and beaches of an existing river and which are suitable for dredging techniques using a floating dredge, backhoe or similar equipment (the "dredging prospects"), and (ii) other prospects (so-called "dry land prospects") which contain alluvial or primary gold mineralization. At the request of Sun River Mining, Watts, Griffis and McOuat Limited (WGM) Senior Placer Engineer Joseph Wojcik visited the location of proposed dredging operations along the Tipuani, Kaka and Challana rivers in north west Bolivia in May 1997 to evaluate the potential of the Aluvion mining prospects. Based on these observations and supplemental documentation and engineering estimates provided by Aluvion, S. A., WGM concluded that gravel deposits exist of sufficient size to support profitable gold mining operations on the Tipuani and Kaka rivers for more than ten years, even at the current price of gold. The WGM report can be reviewed on Sun River Mining's web site. The company is currently in negotiations with Aluvion in effort to secure terms more favorable to the company and it's shareholders. In a move to increase it's technical capabilities and ensure competitiveness in an ever tightening gold market, the Company recently announced the appointment of Mr. Joseph Wojcik to the positions of Vice President and member of the Board of Directors. Mr. Wojcik has been actively engaged in the mineral industry for more than 40 years. He is widely recognized for his experience in alluvial deposit exploration and development, and the application of dredging techniques to mining and industrial projects. Mr. Wojcik will be in charge of Exploration and Mining Operations and will be responsible for developing and implementing the exploration/development and exploitation plans for the Company's alluvial Challana property, as well as helping to review and acquire additional mining prospects. In addition, to Mr. Wojick's recent hire, Sun River Mining is currently reviewing applicants for the position of President and Chief Executive Officer.