Akiko Gold Resources announces Nevada drilling, Ghana concession and Utah silver project support.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 15, 1994--

NEVADA DRILLING: Six drill holes have been completed by Ramrod Gold at the Company's Bru-Lovie gold exploration project in Nevada's Battle Mountain - Eureka Gold Trend. Drilling of the 10 to 20 hole Bru-Lovie program continues, while drilling is also commencing today at regional structures and previously indicated gold resources on the Mud Springs and Santa Fe projects near Bru-Lovie. These highly prospective joint ventures encompass over 12,500 acres, beginning four miles north of Placer Dome's eight million ounce Pipeline gold deposits in Crescent Valley, Nevada. Akiko has already paid its 25% share of the anticipated Mud Springs and Santa Fe drilling costs (the balance being 50% Ramrod Gold and 25% Bradner Resources Ltd.). Ramrod Gold is funding 100% of the first $1.5 million of Bru-Lovie costs in order to earn a 50% interest, half from Akiko Gold and half from Bradner Resources.

GHANA CONCESSION:

The Ghana Minerals Commission has granted the Company a property concession covering 54 square miles on the west side of the Sefwi Bibiani Belt, 36 miles southwest of the Bibiani Mine which produced approximately 1.5 million ounces of gold at an average grade of 0.3 opt. Ghana is a major gold producer with favourable mining and foreign investment policies, and is located within the Precambrian Shield of West Africa which contains greenstone belts similar to those hosting world class gold discoveries in Canada, Venezuela and Guyana. The high-grade Obuasi Mine, operated by Ashanti Goldfields in Ghana's major producing greenstone belt parallel to the Bibiani greenstone belt, produces over 750,000 ounces of gold annually and is expanding. Select samples taken by the Company's V.P - Exploration from the property concession this summer produced encouraging gold assays (ranging up to 0.28 and 0.99 opt) from a composite sample of quartz collected from the tailings dump of the old Ntubia underground mine and from several relatively large quartz veins or quartz veined zones exposed in shallow overgrown pits 1.8 miles from the old gold mine. The Company plans an initial exploration program of airborne and ground magnetics, geochemical sampling and geologic mapping to define initial drill targets before considering possible joint venture partners.

UTAH SILVER PROJECT SUPPORT:

The widely-circulated Silver & Gold Report has recommended purchase of Akiko Gold stock in a Flash News Alert to subscribers dated last week, due primarily to this advanced stage exploration/development project. Underground drilling will start by month-end at the high-grade New Burgin silver/lead/zinc deposit in Tintic, Utah, where Akiko is earning a 50% joint venture interest from property owner, Chief Consolidated Mining. The Company has already funded the U.S. $1 million program for reserve in-fill and expansion drilling and feasibility work on the New Burgin silver deposit, and for drilling of related gold targets.

This New Burgin deposit, when conservatively calculated by Pincock, Allen & Holt as diluted, in-place mineable proven and probable reserves, has 1.14 million tons grading over 19 opt silver, 22% lead and 7.6% zinc. That is over 21 million ounces of silver, with enough lead and zinc to pay the total cash costs of mining. At current metal prices, each ton has a value of approximately $320, with anticipated cash operating costs of approximately $77 per ton. That high profit margin and value of the known mineable reserves, added to the likelihood of doubling or tripling the reserves, especially in light of relatively moderate capital costs due to facilities already on site, make the ultimate bankable feasibility and debt financing of the project very achievable (without excessive dilution of Akiko's stock). As long as this pre-paid drilling program successfully confirms and expands the high-grade New Burgin deposit reserves, this inherent high profit margin combined with underground mine planning expertise, will facilitate effective/profitable handling of difficult ground conditions and dewatering of the quantity of hot saline water related to developing the New Burgin deposit (as is done in other comparable, profitable underground mines).

The Flash News Alert was issued by the Silver & Gold Report last week, partially in response to a negative commentary issued two weeks earlier by an influential newsletter which caused the price of Akiko shares to fall. The Report commends Akiko's exploration/development (and plans to expedite production) of the New Burgin deposit, noting its high silver grade. The analysis contained in the Report supports that of Akiko's management and team of technical consultants, as summarized above and in the Company's News Release of November 4th. As noted in the Report, its "opinions are completely independent" and unsolicited, without any form of compensation for its support, and without any current ownership by the author of the stock recommended. The Silver & Gold Report can be contacted by calling 1-800-289-9222.

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On Behalf of the Board of Directors

"Stephen E. Flechner"

Stephen E. Flechner

President & C.E.O.

CONTACT: Christine Reynolds, 604/689-0988