Updates Nevada Projects
May 19, 2004
SLEEPER GOLD PROJECT SLEEPER JOINT VENTURE HUMBOLDT COUNTY, NEVADA
The Sleeper Exploration Team and Joint Venture Committee are scheduled to meet prior to the end of this month for a progress update and planning session.
The Sleeper Gold Project is a 50/50 joint venture between New Sleeper Gold Corp. and X-Cal Resources Ltd. New Sleeper has provided US$20 million to the joint venture to consolidate the 30 square mile Sleeper Gold District and also to fund exploration of the Sleeper Gold Property.
Three drills, consisting of two core drills and one reverse circulation drill, are operating as part of the comprehensive 2004 Sleeper work program.
Press releases of exploration data by the Sleeper Joint Venture require consensus of the partners and will be made jointly under the supervision of Qualified Persons as defined in National Instrument 43-101.
MILL CREEK GOLD PROJECT 100% X-CAL RESOURCES LTD. LANDER COUNTY, NEVADA
The drill program on X-Cal’s 100%-owned Mill Creek Gold Property, located in the Cortez Joint Venture Area of Lander County, Nevada, commenced in schedule. A diamond (core) drill and a reverse circulation drill are operating on site. (See Press Release dated April 21, 2004)
The core rig is expected to provide stratigraphic information about the Mill Creek Property. The reverse circulation drill has begun a series of exploratory holes.
SUMMARY
The Sleeper Joint Venture is in the early stages of a major exploration program at the Sleeper Gold Project, in Humboldt County, NV.
X-Cal is carrying out initial drill testing of its 100% owned Mill Creek Gold Property in Lander County, NV.
