March 4, 1999
(Mines and Energy)

Roger Grimes, Minister of Mines and Energy, today announced his department's "Call for Proposals" to explore and develop an exempt mineral land near Ming's Bight on the Baie Verte Peninsula.

This land parcel, comprising 250 hectares, is known as the Deer Cove Property and has proven and indicated assets of gold and talc. The property was formerly held and explored by Noranda Exploration Company Limited, whose mineral licence expired in November 1998. Noranda performed advanced exploration including considerable underground work on the gold zone and laboratory work on the talc prospect.

Mr. Grimes noted that "the known gold reserves on this property could possibly support a small mining operation", and that "the property has great potential for gold and talc and is located in an area which has excellent infrastructure and an historic link to the mining industry."

Closing date for receipt of proposals is May 15, 1999. An information package with property descriptions and terms of reference for proposals is available from:

Roger D. Grimes
Minister
Department of Mines and Energy
P.O. Box 8700
St. John's, Newfoundland
AlB 4J6
Telephone: (709) 729-2920
Fax: (709) 729-0059

Media contact: Carl Cooper, (709) 729-4890.

1999 03 04 10:00 a.m.