Altai Resources summary of Manto Azul drill results and geological evaluation of the Tierra Amarilla no. 4 gold property, Peru.

TORONTO--(BUSINESS WIRE)--May 6, 1996--ALTAI RESOURCES INC.(TSE: ATI) Altai Resources Inc. has completed the geological evaluation of its Peruvian properties. The following is a summary of exploration results from the Manto Azul copper property and the Tierra Amarilla No. 4 gold property which are two of the twelve projects in that country. Manto Azul was the subject of an earlier briefer news release dated March 7, 1995.

The results of sampling of underground workings at the Manto Azul copper property is given below.

Crosscuts or adits     Total length    Number of     Average Cu
sampled               explored (m)   samples taken   content
                                                    (percent)

Crosscut, 2,490m level        42.5          17         0.36
Anomaly A

Crosscut/Adit 2,456m level    96.4          20         0.18
Anomaly A

Adit, 2,396m level            72.0          13         0.70
Anomaly C

Adit, 2,360m level            35.0          2          0.17
Anomaly C

Anomalies A and C are surface occurrences of iron oxide and oxide copper mineralization. The centers of the two anomalous areas are 500 meters apart. So far Altai completed about seven diamond drill holes, each about 50 meters deep. The results are summarized below. The average assay results were calculated for the entire length of drill holes.

The best mineralized intersections and the average Cu content of drill holes

Drill Hole  Elevation  Length    Best mineralized    Average Cu
No.         (m)        of hole   intersection        content
                                 Interval   Assay    (percent)
                                 (m)        result
                                            (percent)

MAD-1       2,548      56.1      11.6-56.1   0.13       0.10
MAD-2       2,559      48.6      27.0-47.2   1.08       0.60
MAD-3       2,559      50.3      17.6-23.8   2.47       0.57
MAD-4       2,525      50.3      24.3-25.8   2.65       0.16
MAD-5       2,513      50.2      17.0-50.2   0.14       0.11
MAD-6       2,492      43.8      21.4-25.3   0.35       0.07
MAD-7       2,384      50.4      43.6-50.4   0.11       0.08

All the drill holes intersected disseminated copper mineralization and all of them stopped in mineralized rock. The underground workings and the drill holes outline a 300 meters by 200 meters area of copper mineralization. The limits of the mineralized area are not determined, the mineralization is open in all direction. The property has open pit potential and is expected to have a low stripping ratio. In order to better define drill targets, geophysical surveys including IP and magnetics will be carried out.

The recently acquired 800 hectares size Tierra Amarilla gold property is located near Otuzco in Northern Peru within a mining camp with numerous past producing and presently operating gold, silver and copper mines. A preliminary geological evaluation and sampling of the property by Altai detected disseminated gold mineralization in clay altered volcanic rocks. Five out of the fifteen rock samples collected from the property assayed 120 to 860 ppb gold and up to 14ppm silver. The samples with elevated gold content come from five different areas with the property. The mineralization is disseminated type. The gold occurrence is in the same volcanic formation (Calipuy Group Volcanics) as at the Yanacocha mine which is Peru's largest gold mine. The Tierra Amarilla Property has high potential for the discovery of a large disseminated gold deposit. A detailed evaluation including soil or rock sampling and trenching will be carried out.

CONTACT: Altai Resources Inc.

Niyazi Kacira, Ph. D., 416/869-1338

or

Altai Resources Inc.

Arpad Farkas, Ph. D., 416/869-1338

INDUSTRY KEYWORD: MINING REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-236-4266 or

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