Band-Ore Resources Ltd. - Kennecott Recovers 7,216 Diamonds From The Engagement Zone.Business Editors BURLINGTON, Ontario--(BUSINESS WIRE)--April 23, 2002 S.E.C. EXEMPTION: No. 82-4233 SHARES: 27.7 MILLION Band-Ore Resources Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : BAN) reports the Company has now received complete caustic fusion results from 93 channel samples collected by Kennecott Canada Inc. ("Kennecott") during the fall 2001 sampling program. All of the samples were collected by Kennecott personnel from the GQ property, located near Wawa, Ontario Wawa, Ontario is a community in Northern Ontario, Canada, located in Michipicoten Township in the Algoma District. The community is known for its 28-foot-tall metal statue of a Canada goose, which was built in 1963. . All samples were submitted to Kennecott's mineral processing mineral processing or ore dressing Mechanical treatment of crude ores to separate the valuable minerals. Mineral processing was at first applied only to ores of precious metals but later came to be used to recover other metals and nonmetallic minerals. laboratory in Thunder Bay Thunder Bay, city (1991 pop. 113,946), SW Ont., Canada, on Thunder Bay inlet of Lake Superior. The city was created in 1970 by the amalgamation of the twin cities of Fort William and Port Arthur and two adjoining townships. , Ontario for caustic fusion processing and microdiamond recovery. A total of 66 channel samples weighing 637kg were collected from trenched outcrops along a 200 meter strike length of the Engagement Zone. 7,216 diamonds greater than 0.15mm were recovered. Sample weights for each sample averaged 9.65kg and diamond counts varied from zero to 998 diamonds per sample (only one sample did not have diamonds). There were 33 diamonds which sat on a 0.5mm sieve (diamonds with 2 dimensions greater than 0.5mm) and one diamond, which remained on the 1mm sieve (diamonds with 2 dimensions greater than 1.0mm). To date, over 20,000 diamonds have been recovered from caustic fusion processing of 1043kg from the Engagement Zone (samples collected by both Band-Ore and Kennecott). 373 of these diamonds were macrodiamonds (diamonds with one dimension greater than 0.5mm), 149 of these diamonds measured over 0.5mm in 2 dimensions, and 13 measured over 0.8mm in two dimensions. The largest diamond recovered from caustic fusion processing measured 1.94 mm by 1.54 mm by 1.16 mm. Band-Ore also recovered a 0.254 carat CARAT, weights. A carat is a weight equal to three and one-sixth grains, in diamonds, and the like. Jac. L. Dict. See Weight. broken white octahedral oc·ta·he·dral adj. Having eight plane surfaces. oc  ta·he dral·ly adv. diamond from a 12.5 tonne mini bulk sample collected in
May, 2001.From the Barnett Zone, 27 channel samples totaling 247 kg were processed. 207 diamonds greater than 0.15mm were recovered. Sample weights for each sample averaged 9.2kg and diamond counts varied from zero to 19 diamonds per sample. Only one sample did not have diamonds and no diamonds were found on the 0.5mm sieve. Based on the foregoing results, Kennecott has outlined a detailed exploration program to further evaluate the diamond potential of the GQ property. Exploration will commence immediately as field crews have been mobilized. Initial exploration work will consist of soil sampling, detailed geological mapping, prospecting and diamond-drilling. Pursuant to the option agreement (see press release dated April 16, 2002), Kennecott can earn a 70% interest in the GQ Property by spending a minimum of $15 million on exploration and by completing and financing all work on the property until a decision to mine has been made. Band-Ore also has several gold projects in northern Ontario Northern Ontario is the part of the province of Ontario which lies north of Lake Huron (including Georgian Bay), the French River and Lake Nipissing. Northern Ontario has a land area of 802,000 km² (310,000 mi²) and constitutes 87% of the land area of Ontario, although it for which exploration programs are being prepared. The properties include the Thorne Gold project in Timmins, Ontario This article is about city in Ontario, Canada. For other uses, see Timmins (disambiguation). Timmins, with a population of 42,997 (2006), is a city in northeastern Ontario, Canada on the Mattagami River. At 2,961. , which has a drill indicated resource of 440,000 ounces of gold and several untested geophysical anomalies. For Further Information Contact: Wayne J. O'Connor, President or Jonathan Armes, Investor Relations Investor relations The process by which the corporation communicates with its investors. @ (905) 319-7469 THIS PRESS RELEASE WAS PREPARED BY BAND-ORE RESOURCES LTD. WHICH ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. NO REGULATORY AUTHORITIES OR SIMILAR BODY, HAVE APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. Safe Harbour - Certain statements in this document constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, to be materially different from any future results, performance or achievements expressed by such forward-looking statements. Such factors include, among others, exploration works as detailed within may not be continually successful, that by virtue of exploration there is never a guarantee of economic or profitable outcomes; that exploration companies may have a history of operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. and no guarantee of future profitability, uncertainty of access to additional capital, environmental liability claims and insurance; dependence on and priority conflicts joint-venture partners; should the company profiled herein seek such a partner.
1115 Sutton Drive, Burlington, Ontario Canada L7L 5Z8
Tel: (905) 319-7469 * Fax (905) 319-3527
Website: http://www.band-ore.com
EMAIL: wayne@band-ore.com
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