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Gold/Mining/Energy : Flag Resources (FGR.A A) -- Ignore unavailable to you. Want to Upgrade?

To: ali who wrote (1099)	5/3/1999 10:46:00 AM
From: ali	Read Replies (1) \| Respond to of 4269

CALGARY, May 3 /CNW/ - ''Flag Resources (1985) Limited And Golden Briar Mines Limited Discovery Of A Large Area Of Disseminated Platinum, Palladium, Nickel And Copper Mineralization, At Matagamasi Lake, Rathbun Township, Sudbury, Ontario, Is The First Physical Evidence Of The Presence Of A Near Surface Mineralized Igneous Intrusion In The Wanapitei Anomaly. It is apparently the only large area of consistent disseminated mineralization ever found in Gowganda sediments, in the Sudbury area, the mineralization, it is indicated, injected and transported into the Gowganda sediments from an underlying igneous intrusion. The disseminated mineralization is open beyond 2400 feet vertical depth and beyond 700 feet east into Matagamasi Lake. Drilling is continuing. The 54 mile long Wanapitei Anomaly is the adjoining gravity and magnetic anomaly to the Sudbury Anomaly, similar in shape and size. It is suggested that the two anomalies are genetically related and that the Wanapitei Anomaly may similarly host rich nickel-copper-platinum group metal deposits. The Sudbury Anomaly has been the world's largest known reserve of nickel (1,648,000,000) one billion, six hundred and forty eight million tons - (A.J. Naldrett) The objective of exploration of the Wanapitei Anomaly has been to find mineralzied igneous intrusions within mineable depth of the surface. Flag and Golden Briar believe their discovery of a wide zone of disseminated platinum, palladium, nickel and copper mineralization, apparently injected into the Gowganda sediments from an underlying igneous intrusion, is the first physical evidence of a near surface mineralized igneous intrusion in the Wanapitei Anomaly. Golden Briar (M.S.E.) may earn a 50% interest in this portion of Flag's large holdings in the Wanapitei Anomaly, by spending $400,000.00 over a four year period.'' The Alberta and Montreal Stock Exchanges have neither approved nor disapproved the contents herein. -30- For further information: M.C. McLeod, President, Flag Resources, (403) 262-8883, Fax: (403) 262-8886, www.flagresources.com, e-mail info@flagresources.com This press release concerns more than one organization. To view releases from one of these organizations, please select from below. FLAG RESOURCES (1985) LIMITED GOLDEN BRIAR MINES LIMITED