Akiko Gold Resources announces drilling progress in Nevada and Utah.

CRESCENT VALLEY, Nev.--(BUSINESS WIRE)--Dec. 1, 1994 Akiko Gold Resources Ltd. announces that partial results from the ten hole (6,000 foot) Phase III drilling of its 5,200 acre Bru Lovie project in Nevada's Battle Mountain Gold Trend has produced an encouraging ore grade drill hole in a previously undrilled portion of the project's Colorback claims. The project operator, Ramrod Gold, reports that hole CB 94-2 intercepted 35 feet of 0.069 (including five feet of 0.164) oz/ton gold at 60 to 95 feet below surface. The other six Phase III holes assayed to date contain more modest values, the best of which graded 0.012 to 0.019 oz/ton gold; assays for three more Bru Lovie holes are still pending. Ramrod explained in a news release last month concerning its drilling in Nevada that: "Average grade for heap leach ore at some of the Nevada operations may be as low as 0.01 oz/ton; ores averaging over 0.05 oz/ton gold are usually milled to obtain better recoveries."

The strong mineralization encountered in CB 94-2 is particularly promising because of its proximity to surface and because it is approximately 1,200 feet from the nearest lower grade drill holes to the east and 3,000 feet from those to the west. This allows for the possibility that there might be a quantity of ore-grade mineralization in the vicinity of CB 94-2. In order to assess this possibility, Ramrod intends to drill four offset holes in the vicinity of this hole as soon as a drill rig is available from Mud Springs or elsewhere (weather permitting). Meanwhile, at the highly prospective 8,300 acre Mud Springs project immediately north of Bru Lovie, Ramrod has already drilled six widely spaced reverse circulation holes and plans to drill six additional holes as soon as weather permits. Assays are not yet available from the Mud Springs' drilling.

These two joint venture projects encompass 13,500 acres, beginning immediately north of the AMAX/Coral "Robertson" gold deposits and four miles north of Placer Dome's eight million ounce "Pipeline" gold deposits. The Bru Lovie Project is held 50% by Akiko Gold and 50% by Bradner Resources Ltd., with Ramrod earning 25% from each company by funding the first $1.5 million of exploration and land holding costs. The Mud Springs Project (including parcels leased from Santa Fe Pacific Gold) is being funded 50% by Ramrod, 25% by Bradner and 25% by the Company. Akiko has already paid its share of Mud Springs acquisition and maintenance costs, as well as its share of the current Mud Springs drilling program.

TINTIC, UTAH 

Akiko Gold announces that the required maintenance of the old Apex Standard #2 shaft and of the portion of the old Burgin 1050' level drift being utilized to access initial drill stations for the New Burgin deposit, has been completed by Centennial Development Company. Drilling, with a Boyles Brothers underground drill rigging, commenced this morning. Akiko is earning a 50% joint venture interest from property owner, Chief Consolidated Mining, in the high-grade New Burgin silver/lead/zinc deposit and other silver and gold exploration targets at the large patented East Tintic property. The New Burgin deposit, when calculated by Pincock, Allen & Holt as diluted, in- place mineable proven and probable reserves, has 1.14 million tons grading 19 opt silver, 22% lead and 7.6% zinc. That is over 21 million ounces of silver, with enough lead and zinc to effectively pay the costs of mining all the ore. This 1994-95 drill program (costing US $1 million, prepaid by the Company) has been designed to confirm and substantially expand the New Burgin deposit, while gathering technical data in order to refine capital requirements, operating costs and mine plans (including mine dewatering and water treatment requirements) for the final bankable feasibility study.

On Behalf of the Board of Directors

"Stephen E. Flechner"

President & Chief Executive Officer

CONTACT: Akiko Gold Resources

             Stephen E. Flechner, President & Chief Executive Officer
             604/689-0988

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