Akademia Enterprises Inc. Corporate Update.

CALGARY, Alberta--(BUSINESS WIRE)--Nov. 6, 1996-- Akademia (Alberta Stock Exchange AKP.A.) -- Akademia Enterprises Inc. of Calgary (the "Corporation") hereby announces the following:

1. NOTICE OF SPECIAL SHAREHOLDERS' MEETING 

An Information Circular has been distributed to the Shareholders of the Corporation in connection with the holding of a Special Meeting of the Shareholders. The Information Circular is subject to review by The Alberta Stock Exchange and amendments thereto may be pending.

The Meeting will be for the following purposes:

(a) to pass a resolution fixing the number of directors at five (5) members and electing the directors for the ensuing year;

(b) to approve the acquisition of the Windpass Mining Property located north of Kamloops, British Columbia, formerly a producing gold mine that was closed during the Second World War.

An agreement has been signed between the Corporation as Purchaser and Alan Hilton and Nathan Saunders as Vendors to acquire this property for consideration of $950,000.00 subject to receipt by the Corporation of an independent evaluation of the property. The consideration shall be paid by way of $50,000.00 cash and the balance by way of issuance of Class "A" Shares from treasury.

This transaction is deemed by The Alberta Stock Exchange to be a reverse take-over and consequently is subject to review and approval by The Alberta Stock Exchange. Trading in the stock of the Corporation will be halted until such review is completed.

(c) to approve a private placement to raise up to $1,000,000 for exploration and development;

(d) to authorize the Corporation to sell all of its interest in V.L.M. Development Ltd. and Q.C. International Academies Inc.;

(e) to authorize the directors to settle outstanding debts to creditors in the form of shares for debt;

(f) to approve a change in the name of the Corporation from Akademia Enterprises Inc. to Windpass Mining Ltd.

2. CURRENT STATUS OF BUSINESS OPERATIONS 

(a) Q.C. International Academies Inc. ("QCI"), a wholly-owned subsidiary of the Corporation, has closed The Banff International College effective November 1, 1996. Management of QCI is presently assisting students with placement into other private and public schools and will ensure that all funds owed to students, if any, will be refunded to them expeditiously. QCI is not engaged in any other business.

(b) The Corporation is planning to concentrate entirely on the development of the gold mine property and pursue future mining prospects.

(c) Mr. Stan Cichon, a director and officer of the Corporation, who has been in charge over school operations in his capacity as President and a Director of QCI, has tendered his resignation as a Director and Officer of the Corporation and as President of QCI. He has been replaced as a member of the Board of the Corporation by a new director, Mr. Richard K. Yu, subject to regulatory approvals. Mr. Yu, a professional engineer, is currently Chairman of the Board of Directors of Prince Resources Corp.

All matters contained herein are subject to approval by all regulatory authorities. Additional information will be provided in due course. -0-

The Alberta Stock Exchange has neither approved or disapproved the information contained herein.

CONTACT: Akademia Enterprises Inc.

Mr. Meir Porat, 403/262-7387

or

Mr. Keith McKenzie, 604/681-9688

1-800-263-1880