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Gold/Mining/Energy : ZINC The base metal. News and Views. Symbol Zn -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (150)	3/17/1999 11:50:00 AM
From: Stephen O	Respond to of 3270

Positive news from Breakwater, reopens El Toqui BREAKWATER RESOURCES LTD. 95 Wellington Street West, Suite 2000 Toronto, Ont., M5J 2N7 Tel: (416) 363-4798 Fax: (416) 363-1315 MEDIA RELEASE BREAKWATER RE-OPENS THE EL TOQUI MINE March 17, 1999...Breakwater Resources Ltd. (TSE-BWR) announced today that it has restarted mining operations at the El Toqui mine in Chile. As previously announced (January 12, 1999), underground mining operations were suspended in early January while a 103,000 tonne stockpile of broken development ore was to be milled. Milling of the stockpiled ore to date has shown that the metal recoveries and concentrate grades have been equal to or better than planned. The improved mill performance combined with successful implementation of cost reduction measures and improving zinc prices were the major factors that led to the re-opening decision. In 1999, the El Toqui mine is expected to produce approximately 70 million pounds of zinc in concentrate as compared with the 36 million pounds produced during the eight months of operation in 1998. Breakwater Resources is the tenth largest producer of zinc in the Western World with four producing zinc mines; the Nanisivik mine on Baffin Island; the Bougrine mine in Tunisia; the El Mochito mine in Honduras; and the El Toqui mine in Chile. Breakwater also owns the Caribou mine in New Brunswick, which is currently closed pending the results of technical and economic studies currently being conducted and higher metal prices. For further information please contact: Gordon F. Bub Chairman and Chief Executive Officer (416) 363-4798 Ext. 264 E. Ann Wilkinson Corporate Secretary and Investor Relations Officer (416) 363-4798 Ext. 277