AMT Acquires Remaining BHP Interest in Copper Creek.

TORONTO--(BUSINESS WIRE)--July 2, 1998--AMT International Mi(TSE:AAI.) AMT today announced that it will purchase BHP Copper's remaining 50 percent undivided interest in the AMT/Magma/BHP Copper Creek Project comprising a 1,680 acre portion of the total 6,000 acre Copper Creek Project, located near Mammoth in Arizona. With the purchase of the remaining BHP interest in Copper Creek, AMT will, upon completing the transaction, control 100 percent of approximately 90 percent of the total Copper Creek property. This residual 50 percent interest was acquired by AMT by paying a sliding scale royalty, a cash payment, and the assumption by AMT of certain reclamation obligations. The details of the deal structure are subject to a confidentiality agreement prior to closing.

AMT is focused on the development of two distinct types of copper projects at Copper Creek, based on feasibility study results:

- High-grade shallow sulfide (breccia) deposits, with the potential to produce 100 million pounds of copper annually at a cost below US$0.50/lb.

- Porphyry deposits, with the potential to produce an additional 200 million pounds of copper annually at cash costs in the lower US$0.30/lb. range.

AMT's Chief Operating Officer, Glen Zinn, said: "We are delighted to have reached an agreement with BHP, which will extend our control over the Copper Creek district and will add to our flexibility to pursue various development options. We are in the middle of a program designed to secure development and production permits, and in March this year we began a second phase diamond drilling program at Copper Creek aimed at delineating additional breccia systems on the property with the objective of expanding our mineable reserve tonnage".

The Copper Creek district is located 45 miles north-east of Tucson, Arizona, and within 70 miles of three smelter complexes owned by ASARCO, BHP Copper and Cypress respectively. Phelps-Dodge, from whom AMT is earning a 51 percent interest in the northern 1,300 acre section of the Copper Creek Project, also operates smelters at Santa Rita and Hidalgo, New Mexico.

    CONTACT:  AMT International Mining Corporation
                Dr. Kushal Singh, 520/544-8815
                  520/544-8507 (FAX)
                W. Glen Zinn, 520/544-8815
                  520/544-8507 (FAX)
                e-mail:  [e-mail]
                AMT website: http://www.primenet.com/amt1/
                   or
                Forbes West
                Investor Relations, 416/413-4608