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News Release
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YALETOWN ENTERTAINMENT CORP. 407 - 535 Howe Street, Vancouver, B. C. V6C 2Z4 Tel: (604) 688-0118 Fax: (604) 688-3348 CUSIP# 984909101 Rule 12g3-2(b)# 82-4336 |
April 28, 1997 A.S.E Trading Symbol: YAL
RESULTS IN FROM GORRO EXPLORATION PROGRAM
VANCOUVER, B. C., CANADA --- Yaletown Entertainment Corp. announces that it has received the report of Dr. Richard Culbert, P. Eng., the Company's independent consulting geologist, regarding the Phase I geological program on the Company's Gorro Property located in the Maipo River Region, Chile.
Although some samples yielded copper values of up to 1.1% and there were gold anomalies of up to 899 ppb, Dr. Culbert's coonclusion was that "In general, the mineralized skarns proved to be without anomalous values in gold or copper" and further work on the Gorro could not be recommended.
"We are disappointed in the results" said Yaletown C.E.O. John Cumming, "but Yaletown remains interested in mineral exploration and in Chile in particular. We will continue to search for credible exploration opportunities."
The Gorro property will remain in the Company's inventory pending further discussions with the property vendor.
Yaletown Entertainment Corp. is a Canadian film producer with diversified interests in mineral resource exploration in South America. The company is listed on the Alberta Stock Exchange under trading symbol YAL.
For further information, please contact Mr. John Cumming, Chief Executive Officer, at tel: (604) 688-0118.
John C. R. Cumming, Director, Chairman & C.E.O.
THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE.
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Yaletown Entertainment Corporation, Vancouver B.C. Canada
tel: (604) 669-3543 - Executive/Production Offices
Canadian Venture Exchange: ECY