AKIKO GOLD - QUARTZ STRUCTURES YIELDING SIGNIFICANT GOLD ASSAYS AT AKIKO GOLD'S GHANA CONCESSION.

VANCOUVER, B.C.--(BUSINESS WIRE)--June 29, 1995--Initial assays of rock chip samples taken during Akiko Gold's recent geologic reconnaissance program in the northwest portion of the Company's 54 square mile concession in Ghana are yielding significant gold values ranging from 0.05 to 0.38 ounces per ton. The company's large concession (the "Antubia Mine/Afere Concession") is located in southwest Ghana on the west flank of the highly mineralized Bibiani Greenstone Belt, approximately 40 miles southwest of the old Bibiani Mine where nearly 2 million ounces of gold have recently been identified, and parallel to the Ashanti Greenstone Belt where Ashanti Goldfields produces over 750,000 ounces of gold annually. The property contains the old underground Antubia Mine which produced gold grading nearly one half ounce per ton before WWII, numerous gold bearing quartz veins currently being manually mined near surface by local villagers, and geologic potential for zones of quartz veins hosting significant open pit and underground deposits.

Working with A.C.A. Howe International geologic consultants, the Company's program utilized side scanning radar and satellite imagery to map favorable geologic structures that could control or host gold mineralization masked by dense surface vegetation. Three grids totaling 5.6 line miles were established (in areas of prior or current mining or known gold mineralization) to provide access and control for geologic mapping as well as rock chip and soil geochemical sampling. Nearly 200 rock chip and 180 soil samples were collected and submitted for analysis. Assay results from the Afere grid, which encompasses two areas of shallow native workings spaced approximately 1,440 feet (350 m.) apart, are extremely encouraging.

This target area had been identified by the Company's preliminary work last year when a five foot (1.53 metre) wide chip sample of quartz returned a gold assay of 0.99 ounces per ton. Results from the recent program indicate (a) that there are broad soil geochemical anomalies containing gold values up to 0.48 ppm connecting and surrounding the two native workings, and (b) that quartz veins elsewhere in these old native working contain up to 0.38 ounces of gold per ton.

Preliminary assays from the east Juabeso grid which covers a series of widely spaced native trenches, shallow shafts and prospects located along the possible northeast continuation of the Antubia Mine shear zone are also very encouraging. Soil samples contain gold values up to 0.76 ppm, and rock chip samples of silicified, quartz veined metasediments contain gold values up to 0.079 opt with potential for higher grades at modest depths. Assays from the Main grid which covers the Antubia Mine area and its southwestern extension are still pending. Upon receipt of these results, compilation of all geologic and geochemical data obtained to date, and acquisition of aeromagnetic data covering the concession, the Company will be able to more fully assess targets and plan exploratory drilling. Results to date confirm geologic similarity to significant known open pit and underground gold deposits in this prolific gold producing country.

On Behalf of the Board of Directors

Stephen E. Flechner

President & Chief Executive Officer

CONTACT: Christine Reynolds

604/689-0988

INDUSTRY KEYWORD: MINING REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or

80