Cantex Mine Development Corp V.CD

MAJOR GOLD INTERSECTION

[rabii]

Canadian Company Press Release WOLF 2000-03-01 (provided courtesy of BCE Emergis E-News Services.) register to receive future releases by email from BCE Emergis E-News Services Wolfden Intersects Major Gold Zone At Monument Bay Thunder Bay, Ontario -- Shares Issued: 8,337,348 WOLFDEN RESOURCES INC. (WOLF-CDN) is pleased to announce initial drill results from the Monument Bay Gold Project, located in northeastern Manitoba. WOLFDEN has the right to earn a 100% interest, subject to a 2% N.S.R., in the Property from BATTLE MOUNTAIN GOLD through exploration expenditures totaling $3,000,000 over a six year period. The first four holes have intersected a major zone of alteration over a strike length of 170 meters that is open in all directions. Assay results from Hole No. TL00-01 have identified two parallel high-grade gold bearing zones within extensively sericitized host rocks. The "A-Zone" returned 5.09 g/t gold across 3.25 meters (0.15 oz Au/ton - 10.7 feet) including 7.26 g/t across 1.5 meters (0.21 opt - 4.9 feet). The "B-Zone" returned 29.97 g/t across 4.2 meters (0.87 opt - 13.8 feet) including 36.72 g/t across 3.25 meters (1.07 opt across 10.7 feet) (Assays by Accurassay Laboratories, Thunder Bay, Ontario). Several specks of visible gold are noted in the "B-Zone" interval. Holes No. TL00-02, 03 and 04, eastward step-outs from Hole TL01, have intersected the same zones of sericitisation that were intersected in TL01. Silicified phases within the sericitic units are seen in these other holes and carry mineralization similar to those in Hole TL01 (see table). Visible gold has been noted in holes No. TL00-02 and 04, which are located 80 and 170 meters east of Hole TL01. The geological and mineralogical settings at Monument Bay are not dissimilar from those observed in some of the major gold camps in Canada. At Monument Bay, gold mineralization occurs in altered and sheared volcanic rocks bounded on either side by sedimentary rocks. Within the volcanic stratigraphy, persistent sericitised strata hosts the gold mineralization. Similarly altered settings occur at both Hemlo, Ontario (20-30 Million ounces of gold) and at Doyon-Bousquet, Quebec (approx. 10 Million ounces of gold). Limited previous drilling (Noranda 1989-91) at Monument Bay indicates an auriferous horizon with strike length of at least 3.5 kilometers, within which are a minimum of two partially delineated gold occurrences. This horizon occurs within a major zone of deformation (the "Twin Lakes-Monument Bay Deformation Zone") that has been traced for a strike length of over 30 kilometers across the entire property. The majority of this deformation zone has never been evaluated by drilling. Summer 1999 exploration on Wolfden's 100% owned "Monument Bay Ontario Property" identified an extensive zone of ankerite and albite alteration along a strike length of 7 kilometers. A similar zone is known to occur in the southern portion of the Twin Lakes-Monument Bay Deformation Zone. Due to overburden and water cover, the northern portion of the Ontario unit has not been seen. Joint venture partners are being considered for the Ontario portion of the property. WOLFDEN'S current program is to test a 600 meter section of the A-Zone and B-Zone area with approximately 15 holes totaling more than 3000 meters. The stratigraphy observed in these four holes fits well with the stratigraphy described in the earlier holes drilled by Noranda, and indicates a stratigraphic control for the mineralised units. The following table summarises the results of drilling to-date: Hole No. Significant mineralization Intersection Width Assay g/t (m) (m) (oz/ton) ---------------------------------------------------------------- TL00-01 "A-Zone"-sil.>3% py,aspy 43.40 - 47.65 3.25 5.09(0.15) Incl. 43.40 - 44.45 1.05 9.57(0.28) 44.45 - 45.45 1.00 0.44(0.01) 45.45 - 46.15 0.70 0.35(0.01) 46.15 - 46.45 0.30 9.98(0.29) 46.45 - 47.65 1.20 6.58(0.19) "B-Zone"-sil. 1-5% py +minor aspy+vg 114.90 - 119.10 4.20 29.97(0.87) Incl.114.90 - 115.50 0.60 7.09(0.21) 115.50 - 116.00 0.50 29.44(0.86) 116.00 - 117.00 1.00 34.64(1.01) 117.00 - 117.65 0.65 5.51(0.16) 117.65 - 118.75 1.10 60.35(1.76) 118.75 - 119.10 0.35 6.52(0.19) TL00-02 Sil. 2-8% sulphides (py,aspy) 57.40 - 64.00 Sil. py,aspy (up to 10% locally)+minor vg 171.25 - 177.00 TL00-03 Sil. 2-3% sulphides (py,aspy) 189.00 - 195.65 Sil. 2% sulphides (py,aspy) 249.70 - 251.70 TL00-04 Sil. >1% sulphides (py,aspy) 47.10 - 54.00 Sil. 2% sulphides (py,aspy) 117.90 - 125.50 Sil., Massive sericitisation >5% sulphides + local VG 156.25 - 165.30 Sil. - Silicification py - Pyrite aspy - Arsenopyrite VG - Visible Gold Hole No. Location (m) Direction Dip Depth (m) --------------------------------------------------------------- TL00-01 155+50E - 110+12N 180 degrees 65 degrees 202.0 TL00-02 156+30E - 110+25N 180 degrees 70 degrees 308.0 TL00-03 156+35E - 110+70N 180 degrees 70 degrees 278.0 TL00-04 157+20E - 110+35N 180 degrees 68 degrees 188.0 Drill core from Hole No. TL00-01 will be on display at WOLFDEN'S display in the "Core Shack" at the PDAC Mining Convention in Toronto on March 5, 2000. Assay results from Holes No. TL02 - TL04 are anticipated to be released on Monday March 6 with drill core on display upon release. In other news, confirmation of the grade of a Crown Pillar bulk sample taken from the Pickle Crow Project has been received from Cantera Mining Limited. The Head Grade of this bulk sample returned 17.49 g/t gold (0.51 opt) with a Recovered Grade of 17.38 g/t (0.507 opt). WOLFDEN RESOURCES is a Canadian based mineral exploration and development Company engaged in the exploration for economic precious metal deposits. For further information, please contact: Ewan Downie, President Phone: [phone] and 807-346-1668 Fax: [phone] e-Mail: [e-mail] The statements made in this Press Release may contain forward looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.