August 26, 1999
(Mines and Energy)

Mineral Exploration Program continues with success

Roger Grimes, Minister of Mines and Energy, today announced more projects that are benefitting from the new Mineral Exploration Program announced in this year's budget.

Under the Junior Company Exploration Assistance Program (JCEAP), 21 projects have received funding. This brings the total amount of contributions to $1.3 million. Of the 21 projects, three projects have been completed and the results will soon be released.

In addition, 93 prospectors have received contributions under the expanded Prospectors Assistance Program. Of the $250,000 available to prospectors under the program, $233,000 has been allocated.

Grimes added that prospectors with grants have concluded six option agreements so far this year with exploration companies. These agreements will result in mineral exploration company commitments of more than $1 million.

The Dimension Stone Incentive Program has four approved agreements signed, bringing total contributions to approximately $157,000, which will give rise to an expenditure of approximately $503,000 by industry.

"Our province is rich in natural resources and has a strong mining industry," said Grimes. "The positive response to the mineral exploration program is another indicator of the commitment and confidence both government and industry has in the future of the mining sector in Newfoundland and Labrador." (See attached lists)

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

Attachments:

• Junior Company Exploration Assistance Program

• Prospectors Assistance Program

• Dimension Stone Incentive Program

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JUNIOR COMPANY EXPLORATION ASSISTANCE PROGRAM
Contribution Agreements 1999 - 2000

COMPANY / PROJECT / AREA

Major General Resources Ltd.
Green Bay - Base Metals
Springdale

Burin Minerals Ltd.
Blue Beach North-Fluorspar
St. Lawrence

Noveder Inc.
Wild Cove - Base Metals/Gold
Twillingate

Altius Resources Inc
Shamrock Project - Base Metals/Gold
Long Island, G.B.

Mountain Lake Resources Inc.
Valentine Lake - Gold
Southwest of Buchans

Major General Resources Ltd.
Hammerdown/Rumbullion - Gold
King's Point-Springdale

Cornerstone Resources Inc.
Paul's Pond - Gold
South of Glenwood

Thundermin Resources Inc.
Duck Pond - Base Metals
Southeast of Buchans

Altius Resources Inc.
Lockport - Base Metals
Lockport, NDB

International Granite Corporation
Hodges Hill - Granite
Grand Falls-Windsor

Great Gull Lake Resources
Gullbridge - Base Metals
Gullbridge Property

Canadian Magnesium Corporation
Baie Verte - Magnesium
Baie Verte

Alto Minerals Inc.
Long Lake North - Base Metals
Southwest of Buchans

Fort Knox Gold Resources Inc.
Wing's Point - Gold
Gander Bay

Burin Minerals Ltd.
Tarefare Deposit - Fluorspar
St. Lawrence

International Granite Corporation
Mount Peyton - Gabbro
Bishop's Falls

New Island Resources Inc
Glover Island - Gold
Corner Brook

United Carina Resources Corporation
Linear Property - Gold
Glenwood

Kelmet Resources
Tulks North Property - Base
Southwest of Buchans

Alto Minerals Inc.
Long Lake South - Base Metals
Southwest of Buchans

Noveder Inc.
Betts Cove - Base Metals/Gold
Baie Verte Peninsula

Total Committed Contribution                          $1,302,269.00
Total Private Sector Expenditure                      $4,585,017.00
Total Projects                                                     21
Updated                                                             August 23/99

PROSPECTORS GRANTS
Commitments 1999 - 2000

NAME / RESIDENCE

Graham Bishop / Corner Brook
Roy French  / Carbonear
Leroy Smith  / Arnold's Cove
Steve Baldwin  / Gander
Paul Crocker  / Cape Broyle
Thomas Gosine  / Mount Pearl
Roland Quinlan  / Birchy Bay
Tony Hawco  / Mount Pearl
Tom Lush  / St. John's
Leonard Muise  / Stephenville
Dan Kelly  / Marystown
Alexander Stares  / Benton
Albert Stone  / Marystown
Donald Cormier  / Stephenville
Larry Quinlan  / Birchy Bay
Carl Wade  / Gambo
Wilbert Bailey  / Shoal Harbour
Calvin Pottle  / Whiteway
Michael Basha  / Flatrock
Barry Sparkes  / Glovertown
Tony Stead  / Labrador City
Bill Power  / New Perlican
Patrick Connors  / Labrador City
Brian McGrath  / St. John's
Peter Rogers  / Labrador City
Frank Pottle  / Gander
Ray Elliott  / St. Anthony
Jerry Layden  / Deer Lake
Lai Lai Chan  / St. John's
George Lannon  / Placentia
Gary Lewis  / Grand Falls-Windsor
Albert Woodman  / South Dildo
Herb Froude  / St. John's
William Lucy  / Hopedale
Glen Deveraux  / Terrenceville
Gus Melbourne  / Burgeo
Karl Krats  / Labrador City
Kevin Goodyear  / Clarenville
Kenneth Lewis  / Baie Verte
Walter Mercer  / Badger
Keith Poole  / St. Lewis
Troy Gordon  / Deer Lake
Gerald Hull  / Paradise
Robert Taylor  / St. John's
Allan McBride  / Terra Nova
Ramsey Way  / Flower's Cove
Angus Bradley  / Gander
Robert Hedd  / Winterton
Stephen Greene  / Fogo Island
Edwin Northcott  / Ramea
Boyce Payne  / Stephenville
Stanley Fiander  / Tors Cove
Jim Bouzane  / St. John's
Eddie Quinlin  / Birchy Bay
Kevin Mercer  / Badger
Calvert Davis  / St. John's
Joseph Walsh  / Marystown
Wayne Warren  / Arnold's Cove
Sherry Dunsworth  / Pasadena
Raymond Power  / Paradise
Jamie Meyer  / Pasadena
William Mills  / Marystown
George Warford  / Upper Island Cove
Glen Goobie  / Gander
Perry Young  / Corner Brook
Raymond Hynes  / Gander
James Crocker  / Benton
Allan Hollett Head  / Bay D'Espoir
Calvin Crocker  / Benton
William Mercer  / Badger
Lou Bailey  / Burin
Gus Finn  / Mount Pearl
Peter Dimmell  / St. John's
Garry Luffman  / Goulds
Jarvis Eastman  / Port au Choix
Charles Dearin  / St. John's
Wade Power  / Little St. Lawrence
Bruce Dearin  / St. John's
Ben Turpin Mount Pearl
Cal Miles  / Mount Pearl
Alec Turpin  / Mount Pearl
Tim Froude  / Topsail
Alex Turpin Sr.  / Mount Pearl
George Mercer  / Badger
David Toms  / Bishop's Falls
Shirley Rideout  / Grand Falls-Windsor
Ross Flowers  / Hopedale
Ivan Mesher  / St. John's
Gerald Pardy  / Grand Falls-Windsor
Gerald Seward  / Hillview
Vic Noseworthy  / Gander
Steve Power  / St. John's
Owen Marsden  / Burgeo

Total Committed Contribution              $233,000.00
Total Grants                                          93
Updated                                                August 23, 1999

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DIMENSION STONE INCENTIVE PROGRAM
Contribution Agreements 1999 - 2000

COMPANY / PROJECT AREA

International Granite
Mount Peyton - Black Granite
Bishop's Falls

J. Tuach Geol. Consultants
Fisher Hills - Flagstone
Deer Lake

B & B Consulting
Gabbro Lake - Black Granite
Western Labarador

International Granite
Hodges Hill - Coloured Granite
Grand Falls-Windsor

Total Committed Contribution                  $157,383.00
Total Private Sector Expenditure             $503,626.00
Total Projects                                            4
Updated                                                    August 23, 1999

1999 08 26 3:30 p.m.