Attwood Gold - Special Warrants Private Placement.

VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--July 11, 1996-- Further to our press release of June 14, 1996, Attwood Gold Corp. (VSE:ATW) announced that it has appointed C.M. Oliver & Company Ltd. of London, England, who has agreed to act as its agent, to sell by way of private placement, 1,500,000 special warrants at a price of $3.35 per special warrant for gross proceeds of $5,025,000.

Each special warrant will be exercisable into one unit, each unit consisting of one common share and one non- transferable purchase warrant, until the earlier of the fifth business day after the effective date of an Exchange Offering Prospectus to qualify the distribution of the units on exercise of the special warrants, and, one year from the date of issue of the special warrants.

The non-transferable purchase warrant forming part of the units will entitle the holder to purchase one additional common share in the capital stock of Attwood for a period of 18 months from the date of issue of the special warrants at a price of $3.75 per share for the first 12 months and $4.00 per share for the remaining 6 months.

Attwood will use its best efforts to obtain a receipt for the Exchange Offering Prospectus to qualify the common shares and the purchase warrants receivable on exercise of the special warrants no later than 120 days from the date of issue of the special warrants.

In the event Attwood fails to obtain a receipt for the final Exchange Offering Prospectus within 120 days from the date of issue of the special warrants, any special warrants exercised thereafter will entitle the holders thereof to receive 1.1 common shares on exercise of the special warrant instead of 1 common share.

In connection with the private placement, Attwood will pay to C.M. Oliver & Co. Ltd. a corporate finance fee of 10,000 pounds sterling and an agency fee in an amount equal to 8 percent of the gross proceeds of the sale of special warrants. Attwood will also issue to C.M. Oliver & Co. Ltd. purchase warrants in an amount equal to 10 percent of the number of special warrants issued.

The purchase warrants will entitle C.M. Oliver & Co. Ltd. to purchase a maximum of 150,000 common shares in the capital stock of Attwood for a period of 18 months from the date of issue of the special warrants at a price of $3.35 per share for the first 12 months and $3.85 per share for the remaining 6 months.

As described in Attwood's press release of June 14, 1996, the proceeds from the private placement will be used to fund the development of the Tonkin Springs Gold Project in Eureka County, Nevada and Attwood's working capital requirements. The private placement is subject to acceptance for filing by the Vancouver Stock Exchange.

The Vancouver Stock Exchange neither approves nor disapproves on the information contained herein.

CONTACT: Attwood Gold Corporation

Ken Berry, 604/689-1378

800/260-4828

or

Barrington Communications

Jill Brand, 800/663-0321

Internet site http://www.attwoodgold.com