Akiko fefines Ghana gold drill targets.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 30, 1997-- AKIKO GOLD RES. (VSE:AKI.) The second phase of Akiko Gold's successful 1996 reconnaissance program on the Antubia Mine-Afere concession located in southwestern Ghana has been completed.

All analytical results from this program have now been received and are being integrated and interpreted to help plan drilling scheduled to commence by March/April 1997. This second phase 1996 recon, consisting of geochemical sampling and a ground magnetics survey, more completely defined and substantially expanded the East Juabeso and Afere anomalies. It also identified and partially defined another significant target southwest of the old Antubia mine near the village of Antobia, and indicated additional prospect to the north.

The results from the 1996 Phase I and II programs indicate that the northeast trending East Juabeso anomaly consists of several parallel higher grade zones that contain gold values up to 850 ppb in the soil. The anomaly has now been defined over a strike length of 1650 m (5362') with widths up to 700 m (2275'). The East Juabeso anomaly covers numerous shallow native and European workings from which an underground channel sample collected in 1995 contained 3.0 m (9.75') averaging 5.39 g/t (0.157 oz/t) gold. This anomaly appears to be situated at or near a major splay or structural intersection related to regional scale northeast trending structures.

The 1996 exploration results at the Afere anomaly located approximately 2.0 km (1.2 mi) southeast of the East Juabeso anomaly indicate that soil gold values up to 1000 ppb are related to two intersecting zones of northeast trending quartz veins. The anomaly has now been defined over a strike length of 1200 m (3900') with widths up to 1000 m (3250'). The Afere anomaly covers an area of shallow native workings from which a 1994 chip sample of a 1.0 m (3.25') wide zone of quartz veining contained 30 g/t (0.99 oz/t) gold. As at the East Juabeso anomaly, aeromagnetic data for the Afere anomaly indicate that anomalous gold mineralization is located at or near a major splay or structural intersection related to regional scale northeast trending structures.

In addition to the East Juabeso and Afere anomalies that remain open to expansion along strike, the 1996 Phase II program has defined a broadly anomalous area approximately 1500 m (4875') in length and 700 m (2275') in width near the village of Antobia. This complex geochemical anomaly covers an area of recent native workings and is on the southwest extension of the Antubia mine shear zone. Also, there are newly indicated prospects in the northern sector of the concession associated with splays from the main Antubia shear, with valuable soil geochemical responses indicating additional gold targets over a strike length of approximately 1.5 km.

The company's 141 km2 (54 mi2) concession is accessibly located in southwest Ghana on the west flank of the highly mineralized Bibiani greenstone belt that lies northwest of and parallels the prolifically mineralized Axim-Konongo greenstone belt hosting the Ashanti and Prestea mines. The Antubia Mine-Afere concession is situated in an area undergoing active exploration 66 km (40 mi) southwest of the two million ounce Bibiani mine. The 1996 exploration results are being used to plan 1997 exploration work which will begin with additional geochemical sampling, an IP survey and an initial phase of drilling at Afere. Like other gold targets on the concession, the Afere anomaly has geologic potential for zones of quartz veins hosting significant open pit as well as underground gold deposits.

CONTACT: Akiko Gold Resources Ltd., Vancouver

Christine Reynolds, 604/689-0988

or

Akiko Gold Resources Ltd., Denver

Fran Tester, 303/298-1663