Amalgamation of Chase and Delta Completed.

VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--May 28, 1997--Chase Resource Corp. (TSE:CQS. ) Mr. Michael Callahan, Director, reports that Chase Resource Corporation (CQS-TSE) and Delta Gold Mining Corporation (DTG-VSE) have obtained all necessary approvals for the amalgamation of the two companies. Effective at the opening of markets on Friday, May 30, 1997, the amalgamated company, which retains the name Chase Resource Corporation, will commence trading on the Toronto and Vancouver Stock Exchanges under the trading symbol "CQS".

Amalgamation of the two companies, which have common management and significant exploration portfolios in the Philippines and Indonesia, was approved by shareholders of each company on April 25, 1997. Under the terms of the amalgamation agreement, each share of Chase will be converted to one share of the amalgamated company. One share of the amalgamated company will be issued for each two shares of Delta.

Following the amalgamation the new company will have 23,248,931 shares issued and outstanding which is comprised of 16,526,472 old Chase shares and 6,722,459 for old Delta shares on a two old-for-one new basis.

Management of the companies expect to achieve significant operating cost savings by eliminating various duplications associated with running the two companies and through consolidation of the southeast Asian mineral property holdings of each, especially the Cikondang Gold Project, in West Java, Indonesia, where each company currently holds a 38.75 percent interest.

CONTACT: Chase Resource Corporation

Mr. Ian Rozier, 604/685-6851