Akiko Gold reports private placement subscription.

VANCOUVER, Bc--(BUSINESS WIRE)--Nov. 29, 1995--AKIKO GOLD RESOURCES (VSE: AKI) Pan-Pacific Metal Mining Corporation (the wholly- owned Canadian subsidiary of Korea Zinc Company, Ltd.) has subscribed to a private placement of 2.7 million units of Akiko Gold at a price of $0.50 per unit.

Each unit consists of one common share and one warrant to purchase an additional common share. The warrants are exerciseable for two years at a price of $0.70 per share in the first year and $0.90 per share in the second year.

The $1.35 million purchase price for the units is payable to the Company, subject to regulatory approval and execution of the definitive joint venture operating agreement for the Tintic, Utah Project. The Company is entitled to compel exercise of the warrants under certain circumstances, and can increase the warrant price when the market trading price for Akiko's shares exceeds $1.50. The shares are subject to a one year hold period and entitle the investor to designate a nominee for the Company's Board of Directors. A 5 percent finder's fee is payable to Felske and Associates in connection with this private placement.

Proceeds of the placement are expected to be utilized for 1996 working capital and:

(i) additional technical expertise in connection with development of the high-grade Burgin silver/lead/zinc plus gold deposit and several other highly mineralized targets at Tintic, Utah (where recently completed reserve expansion drill hole CB-17 intercepted 21.8 feet averaging 15.8 ounces silver per ton, 15.6 percent lead and 3.6 percent zinc; while progress towards completion continues on increased independent reserve calculation, pre-feasibility work, and definitive joint venture operating agreement).

(ii) initial drilling on part of the Company's 90 percent owned, 54 square mile concession on Ghana's Bibiani Greenstone Belt (where samples taken by the Company have identified both open-pit and underground targets including a sample of quartz veining assaying nearly one ounce gold per ton across five feet);

(iii) follow-up drilling on the Company's 50 percent owned 900 acre Colorback prospect on Nevada's Battle Mountain-Eureka Gold Trend (where drilling has discovered an open pit target, initially indicated by 35 feet averaging 0.069 ounces gold per ton within 65 feet of surface); and

(iv) monitoring for potential exercise of the Company's contractual right to acquire a 20 percent interest (40 percent of Gold Canyon Resources' 50 percent interest) in the Springpole, Ontario project, expected to be drilled this winter by Santa Fe Pacific Gold (where gold stock analyst reports have suggested the possibility of some 8 million ounces of gold, and Akiko could exercise its right at a cost of less than $500,000 if this winter's drill program were to support such suggestions).

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On behalf of the Board of Directors

"Stephen E. Flechner"

President and Chief Executive Officer

CONTACT: Christine Reynolds, 604/689-0988