Aranlee to resume exploration at Voisey's Bay Staghorn Lake Area top priority.

SCOTTSDALE, Arizona--(BUSINESS WIRE)--May 14, 1996--ARANLEE RESOURCES LTD.(VSE: ARB ) Aranlee Resources Ltd. ("Aranlee") is pleased to announce that NDT Ventures Ltd. ("NDT"), the Company's 50 percent joint venture partner, has identified the Staghorn Lake Area of Voisey's Bay as a high priority exploration target. In this area Cartaway Resources recently announced a significant discovery on their Cirque Property, which lies between three of Aranlee's claim blocks: within 2.5 km of Project 15-1, 11 km of Project 10-1 and 13 km of Project 16-1 (see attached map). Aranlee has a total of 4 projects covering approximately 100 sq. km in this exciting new area. NDT has recommended follow-up exploration programs totalling Cdn. $ 407,000 to commence this summer, including additional work on several other of Aranlee's 17 properties in the overall Voisey's Bay region.

STAGHORN LAKE AREA

The Staghorn Lake Area is considered by NDT to have a high potential to host significant nickel-copper-cobalt deposits similar to those of Diamond Fields', located approximately 85 km to the south. Aranlee's Projects 10-1, 15-1, 16-1 and 19-1 in this area cover a strategic part of the Nain Plutonic Suite and directly overlie or are adjacent to the structurally very important Nain-Churchill Province boundary fault, which is likely a "mantle tapping" feature directly responsible for magmatic nickel-copper-cobalt sulfide concentration. The recent announcement by Cartaway Resources appears to support this theory: one drill hole on the Cirque Property is reported to have intersected massive sulfides with significant visible chalcopyrite in four zones, to depths of 123 meters in a pipelike feature. Their assay results are awaited. Project 15-1

This project is located about 2.5 km southwest of Cartaway's property. Exploration during 1995 identified a 1 to 2 sq. km area with numerous sulfide-bearing gossans up to 100 by 300 meters in size. These gossans contain 1 to 2 sq. meter patches and lenses of massive pyrrhotite, magnetite, pyrite and chalcopyrite. Selective grab samples of these gossans contain up to 1.06 percent nickel, 0.88 percent copper and 0.16 percent cobalt. An airborne geophysical survey detected five conductive zones; two of the zones with the strongest responses are in the center of the property and correspond with the central gossanous area.

Aranlee has approved NDT's initial budget of approximately Cdn. $155,000 for this project for 1996 to include deep-penetration ground geophysical surveys and an initial program of follow-up drilling. Project 10-1

This project, located approximately 4 km northwest of Project 15-1 and 11 km west of Cartaway's reported discovery, contains numerous coincident airborne geophysical electromagnetic (EM) and magnetic anomalies with large areas of sulfide-bearing gossans. Four shallow drill holes, totaling 507 meters, were drilled in 1995, with each hole containing very encouraging significant widths of disseminated sulfides with lenses of more massive nickel-copper-cobalt mineralization; drill hole DDH 13 returned assays of 0.29 percent nickel, 0.28 percent copper and 0.067 percent cobalt over an 80 cm section. Detailed evaluation of the style and extent of mineralization indicates that these holes are similar to the mineralization located above the Eastern Deeps deposit at Voisey's Bay.

Aranlee has approved NDT's initial budget for this project of approximately Cdn. $200,000 for 1996 to include detailed geological mapping, deep-penetration ground geophysical surveys and an additional program of follow-up drilling. Other Areas

Aranlee has 2 other project areas in the Staghorn Lake Area which have yet to be explored in any detail. On Project 16-1, which is about 13 km east of Cartaway's discovery, and on Project 19-1, located 6 km south of Project 10-1, NDT expects to carry-out an initial exploration program as soon as possible dependent upon the constraints of the overall 1996 work program. VOISEY'S BAY AREA

Aranlee's Project 34-1 is located about 32 km northwest of Diamond Field's deposit and 15 km east of Consolidated Magna's nickel-copper mineralized system at Tasisuak Lake (see attached map). NDT will carry out an exploration program of geological mapping, prospecting and soil sampling during 1996. SAGLEK AREA

This area is approximately 85 km north of the Staghorn Lake Area. Aranlee's Projects 2-1, 4-1 and 6-1 were briefly prospected in 1995. Airborne geophysics, however, shows excellent geophysical responses with coincident electromagnetic (EM) and magnetic highs corresponding to extensive, stratabound horizons of graphite and pyrrhotite in gneisses. In addition, some of the highest nickel and copper values in lake sediments within Labrador occur within this district. NDT will carry out a detailed prospecting, rock sampling and heavy- mineral stream sampling program in 1996 on these three projects.

In addition to an option to acquire the 50 percent interest on 1,565 claims on 17 properties in the Voisey's Bay region of Labrador, Aranlee has rights to acquire a 100 percent interest in 8 properties within an emerging new precious and base metal belt in northwestern Argentina, adjacent to the Chilean border. Fieldwork in underway in Argentina and a project update will be released shortly. The Company has 11,769,217 shares issued and outstanding and 17,109,442 on a fully diluted basis.

Aranlee is a diversified mineral exploration company and is actively evaluating several acquisition opportunities. These are expected to provide additional asset value to the Company, coupled with a further diversification of interests. -0-

NOTE: Location map available from the Company at the phone number listed above.

CONTACT: Aranlee Resources Ltd.

Jim Kasten, cot/dale, Arizona 85260

602/951-4870

E-MAIL: [e-mail]

INDUSTRY KEYWORD: MINING REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or