B2Bauctionworld to Join Official Trade Mission to Chile; Canadian Senate will Promote Industrial Auction Website to South American Market.

Business/Technology Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Oct. 5, 2000

B2Bauctionworld.net (NQB:SGIG; www.b2bauctionworld.net), a soon to be launched international industrial auction and mall website, will participate in a trade mission to Chile with the Senate of Canada next week (October 8 to 15). The mission will be chaired by Senator Raymond C. Setlakwe, and is being organized by the Canadian International Promotion Centre (C.I.P.C.) and Xalix International Group in Chile.

Marino Middleton, consultant to B2Bauctionworld.net, will meet with numerous Chilean industrial firms, industrial equipment and auction representatives, resource industry executives and government officials to negotiate listings and agreements for the website. The company also plans to select an agent to represent B2Bauctionworld.net in Chile.

B2Bauctionworld.net targets the rapidly growing international Ecommerce market for industrial equipment and services. The website will offer a 24-hour auction service, industrial mall and industrial ad services where any business or individual can list items for sale or auction.

"This mission will help establish marketing of our products and services in Chile, and is the first step in our effort to reach South American markets," said Raymond Merry, president and CEO of Sierra Gigante Resources, the parent company of B2Bauctionworld.net.

Latin America is projected to be one of the world's most promising markets in the growth of information technology spending. Microsoft Chairman Bill Gates predicted in March 2000 that Latin American spending on web commerce could reach nearly $11 billion annually by 2003, driven by an Internet market that will have grown to approximately 30 million Latin users during the same period.

Merry said B2Bauctionworld.net is built on the business concept of harnessing the power of the Internet to provide companies with a cost effective way to convert surplus inventory into working capital.

"Almost every government, factory, industrial site, mining company, oil production company, shipping company, medical facility, etc. has surplus equipment. Many companies do not have sophisticated shopping cart model Web sites to sell their goods. Many companies would like to sell their industrial services. B2Bauctionworld addresses all three of these needs," he said.

A demonstration site is currently available for review at www.B2Bauctionworld.net.

About Sierra Gigante Resources

Sierra Gigante Resources (www.sierragigante.com) is a US company incorporated in 1998. With its industrial experience and the hiring of new executives who are leading authorities in Ecommerce, the company has created a unique international online auction site (www.B2Bauctionworld.net) for industrial services and equipment. Sierra Gigante, which trades on the NQB "pink sheets" as SGIG, has 11.7 million shares issued, of which 2.3 million are free trading. Sierra Gigante has a seasoned management team with solid industry start-up and operations experience. The team includes former executives from both private industry and government, as well as professors from business faculties at major universities in Canada.

Contact: Raymond Merry, President and Chief Executive Officer; Sierra Gigante Resources; Inc.; 355 Burrard Street, Suite 1000; Vancouver, BC, V6C 2G8. Toll Free: 1-888-310-2888; [phone]; [phone]. Neither US nor Canadian Exchanges have reviewed this release. This press release may contain forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Investors are cautioned that such forward-looking statements involve risk and uncertainties, which may cause actual results to differ from those described.