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Gold/Mining/Energy : Peruvian Gold Ltd. PVO -- Ignore unavailable to you. Want to Upgrade?

To: Brian Warner who wrote (679)	4/19/1999 5:35:00 PM
From: kidl	Read Replies (1) \| Respond to of 892

Peruvian to earn 60 per cent of Imperial's Silvertip deposit Peruvian Gold Limited PVO Shares issued 14,227,466 Apr 16 close $0.53 Mon 19 Apr 99 News Release Also Imperial Metals Corporation (IPM) Mr. David Henstridge reports Peruvian Gold has signed a letter of intent with Imperial Metals Corporation, whereby Peruvian can acquire by option a 60 per cent interest in the Silvertip deposit in northern British Columbia. Peruvian can earn its 60 per cent interest by spending $5-million over three field seasons with a minimum commitment of $450,000 in 1999. IMC retains the right to buy back a 20 per cent interest by spending $2-million within 18 months of completion of Peruvian's earn-in. Silvertip is approximately 85 kilometres southwest of Watson Lake, Yukon, and is accessible by a 25 kilometre road from the Alaska Highway. Good infrastructure exists for shipping concentrates to the port at Skagway, Alaska, accessible by 510 kilometres of all-season road from the site. The Silvertip deposit (formerly Midway) is 100 per cent owned by Silvertip Mining Corporation, a wholly owned subsidiary of Imperial Metals. Imperial's 1997 drill program increased the resource to 2.57 million tonnes grading 8.80 per cent zinc, 6.4 per cent lead, 325 grams per tonne (9.5 ounces per ton) silver, and 0.63 g/t (0.02 ounces per ton) gold. The table below shows the resource categories calculated by Imperial. Tonnes Ag Pb Zn Au (millions) g/t % % g/t Measured and indicated 1.12 378 7.7 9.5 0.85 Inferred 1.45 284 5.4 8.3 0.46 Total 2.57 325 6.4 8.8 0.63 Using metal prices of $5 (U.S.) per ounce silver, $280 (U.S.) per ounce gold, 22 U.S. cents per pound lead and 44 U.S. cents per pound zinc, this mineralization has a contained metal value in excess of $170 (U.S.) per tonne. Silvertip is classified as a manto deposit, consisting of irregular tube-like mineralized bodies hosted by limestones, similar to deposits found in Mexico and Central America (Santa Eulalia, El Mochito). As yet, the source of the mineralization, which is expected to have been channeled along a steeply dipping feature such as a fault or chimney, has not been identified. Geophysics, particularly the CSAMT (controlled source audio-frequency-magnetic-telluria) method has been demonstrated to be a useful tool in defining the known mineralization, reflected as low resistivity anomalies. At the end of the 1998 exploration program, several deep geophysical anomalies remained to be drill tested, including one chimney-like feature. These anomalies are immediately to the south of and below the known mineralization. Also, in 1998, IMC discovered mineralization in outcrops of the Tapioca sandstone, the formation that stratigraphically underlies the McDame limestone, which is the host to the Silvertip deposit. Broad CSAMT anomalies exist at depth within the Tapioca sandstone and will need to be drill tested. The 1999 work program, managed by Imperial, will include several more lines of CSAMT to further define the targets before proceeding with a 2,000 metre diamond drilling program. Peruvian's option transaction may result in the acquisition of a significant stake in a large and advanced high-grade silver-zinc deposit with Imperial Metals, a recognized and highly experienced mine operator and developer in British Columbia. © Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

To: Brian Warner who wrote (679)	8/16/1999 12:13:00 AM
From: Brian Warner	Read Replies (1) \| Respond to of 892

Did anybody notice this August 4 press release? 1999-08-04 Peruvian Gold Limited Announces CSAMT Survey Completed at the Silvertip Property, Drilling to Commence in Mid-August, 1999 VANCOUVER, BRITISH COLUMBIA--David Henstridge, President, is pleased to announce that the first phase of the 1999 exploration program on the Silvertip property has been completed. Silvertip is located about 85 kilometres south-west of Watson Lake, Yukon, accessible by a 25 kilometre road from the Alaska Highway. The Silvertip deposit (formerly Midway) is 100 percent owned by Silvertip Mining Corporation, a wholly-owned subsidiary of Imperial Metals Corporation (IMC). Previous drill programs defined a resource of 2.57 million tonnes grading 325 g/t (9.5 oz/st) silver, 8.80 percent zinc, 6.4 percent lead and 0.63 g/t (0.02 oz/st) gold. At the end of the 1998 exploration program, a deep CSAMT geophysical anomaly, immediately to the south of, and below the known mineralization, remained to be drill tested. During July 1999, IMC, the operators of the project, completed a 5.65 line-km CSAMT survey over the area of the geophysical anomaly, and the survey confirmed the previous findings. In addition, two other anomalies were found, one about 200 metres south of the previously known target, another about 400 metres southeast from it. Interpretation of the geophysical anomalies reveal that horizontally, each target is roughly equi-dimensional, ranging in approximate size between 10 and 100 metres across. The data is being compiled and integrated with the known subsurface geology prior to selecting drilling targets. A minimum 2,000 metre diamond drill program will commence about mid-August to test these targets. Peruvian has the right to earn a 60 percent interest in the property by spending $5 million over three field season with a minimum commitment of $450,000 in 1999. IMC retains the right to buy back a 20 percent interest by spending $2 million within 18 months on completion of Peruvian's earn-in. On Behalf of the Board David Henstridge, President -30- FOR FURTHER INFORMATION PLEASE CONTACT: Peruvian Gold Limited David Henstridge President (604) 681-0110 or toll-free 1-888-215 5111 (604) 682-2236 (FAX) E-mail: pvo@intergate.bc.ca Website: www.peruviangold.com The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy of this release and the information contained herein. fin-info.com