Partners Value Split Corp T.PVS.PR.G

exceeds expectations?

[wofats]

PRIORITY VENTURES LTD. Trading Symbol: CDNX : PVS August 16, 2001 News Release 01-22 Vancouver Island Drill Project Exceeds Expectations Priority Ventures Ltd. is pleased to announce that phase one of the Vancouver Island project has been completed. Results to date have significantly increased the measured and indicated coal resource and proven the presence of methane gas. A phase two program will involve the drilling of up to four gas wells. The locations have been identified and will be surveyed as required by the Oil and Gas Commission. Drilling of these wells will commence upon receipt of the well licences. As a result of finding thicker than expected coal seams Priority will also apply for as many as ten additional delineation boreholes. Coal quality analysis from the three drilled boreholes will help determine and prioritize the new locations. The information collected from phase one will require several weeks to interpret and incorporate into the existing data base. In the interim period Priority intends to expand the scope of its Vancouver Island energy project. For investor relations see our website at www.priority-pvs.com or call 1-877-212-3233. On behalf of the Board of Directors, NEIL SWIFT President "The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release."