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Gold/Mining/Energy : Birch Mountain Resources BMD-ASE -- Ignore unavailable to you. Want to Upgrade?

To: J.E.Currie who wrote (48)	4/1/1999 11:50:00 AM
From: Gord Bolton	Read Replies (1) \| Respond to of 402

Birch Mountain Resources Ltd. CALGARY, April 1 /CNW/ - Birch Mountain Resources Ltd. (ASE:BMD) announces that it has completed preliminary interpretation of an airborne magnetometer survey of its Birch Mountain permit block. This block comprises nine contiguous exploration permits on the northern flank of the Birch Mountains covering a total area of 82,944 hectares (approximately 205,000 acres) adjacent and to the north of the Kennecott/Montello/Redwood joint venture property which hosts at least one diamondiferous kimberlite. Preliminary examination of the airborne magnetometer data shows a number of anomalies that have magnetic signatures similar to those exhibited by kimberlites discovered by the Ashton/AEC/Pure Gold joint venture in the Buffalo Head Hills. The nine targets identified to date are clustered along northeasterly trending lineaments and are located within subcrop areas of Upper Cretaceous Smoky Group marine shales. Glacial till thickness across the property is estimated to be less than 50 metres and underlying shales of the Shaftsbury Formation outcrop in the northern part of the permit block. Birch Mountain plans limited follow-up work and is actively seeking a partner to develop the diamond potential of its Birch Mountain block to allow Birch Mountain to pursue its primary objective of precious metals hosted in Devonian limestone. Birch Mountain continues its ongoing research and development of analytical protocols for accurate and reproducible analysis of metals in rocks from Prairie Gold targets in Athabasca. Although the company is encouraged by progress to date, no material developments in this work have occurred. Assays for existing core and bulk samples will be released once precious metal assay protocols now under development have been verified by testing in an independent laboratory. Birch Mountain is in discussions with third party consultants to provide independent verification of any protocols that may be developed. Birch Mountain announces that it expects to close a non-brokered private placement which was applied for on February 4, 1999 and conditionally approved by the Alberta Stock Exchange on March 1, 1999. If fully subscribed as it appears it will be, this private placement of flow-through and non-flow-through units will generate approximately $1 million to the corporation. There are no other material developments at this time. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. %SEDAR: 00003909E -30- For further information: Doug Rowe, President and CEO or Jane Quinn, Shareholder Services, Birch Mountain Resources Ltd., (403) 262.1838, Fax: (403) 263-9888, Email: rowed@birchmountain.com, jquinn@birchmountain.com, Home page: birchmountain.com