Bhang Inc BHNGF

drilling in atta

[rdww]

FOR: PELE MOUNTAIN RESOURCES INC. TSX VENTURE SYMBOL: GEM JANUARY 5, 2004 - 13:36 ET Pele Begins Drilling at Attawapiskat River Diamond Project TORONTO, ONTARIO--Pele Mountain Resources Inc. (TSX Venture:GEM) ("Pele" or the "Company") is pleased to announce that drilling has begun at its 100% owned Attawapiskat River Diamond Project to test targets identified in the on-going ground geophysics program announced by Pele on October 30 and December 5, 2003. The drill currently in use is a lightweight, mobile drill that has been equipped to recover BQ size core samples of bedrock that can be readily examined to determine whether or not the drill target is kimberlite. This direct approach to acquisition of bedrock samples will provide the opportunity to test a number of targets prior to spring breakup. Drilling of magnetic geophysical targets is an established method for the discovery of the known kimberlite pipes in the Attawapiskat cluster. Pele's current exploration program is designed to drill-test shallow ground magnetic anomalies within or adjacent to primary structures that appear to have controlled the emplacement of the diamondiferous kimberlites. A total of 70 line kilometers of grid has been cut to date straddling the extension of important structures related to the diamond bearing kimberlite pipes along strike and within a few kilometers of De Beers' Victor and Tango kimberlite pipes. Pele's detailed ground magnetic survey has already identified a range of magnetic targets including relatively strong magnetic anomalies (similar in magnetic strength to known kimberlites in the cluster) and more subtle and weaker magnetic signatures (which may potentially be related to variably altered crater facies kimberlite). At least 18 diamond-bearing kimberlites have already been discovered in the cluster, including De Beers' Victor kimberlite pipe which, according to published information, is advancing towards planned commercial diamond production in 2007. Pele's Attawapiskat River Diamond Project comprises the largest 100% owned claim holdings within a 30 kilometre radius of the Victor pipe. Kimberlite discoveries announced by a number of junior exploration companies working in the area over the past few years suggest the possibility that additional kimberlites are likely to be present in the area. Pele is a Canadian mining exploration and development company and a leader in the search for economic diamond and gold deposits in Northern Ontario. This press release has been reviewed and approved by Dr. Edward Walker P. Geo., of PetroLogic Inc., an independent consultant and Qualified Person. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Pele's future plans, objectives or goals, including words to the effect that Pele or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. None of the Company's properties have any known ore body of economic or commercial value. Common Shares Outstanding: 43,403,014 -30- FOR FURTHER INFORMATION PLEASE CONTACT: Al Shefsky President [phone] www.pelemountain.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.