Bargold Announces Summary of Interim Oil & Gas Project.

Business Editors

HOUSTON--(BUSINESS WIRE)--Sept. 12, 2000

Further to the News Release of August 18th, 2000 Bargold Resources Ltd's (CDNX:BGA) international Oil & Gas acquisition/expansion program announces interim reserves from the Karlavske Oil & Gas Deposit as stated by CrymGeologia, State Geologic Enterprise ("CrymGeologia"), Simferopol, AR Crimea, Ukraine, a former Soviet Socialist Republic of the USSR.

Summary

The following summary is based on the CrymGeologia results from 1961 until present. During this period fourteen holes were drilled. The Karlavske Oil & Gas fields consist of two gas fields and one oil field, which were initially discovered in 1961. The gas discovery in Lower Paleocene sediments was encountered at the depth of 1100 - 1200 meters. When the Karlavske #2 hole was tested, 9900 m(3)/day of gas was measured. The Paleocene possible reserves are: C1=39 mln m(3) and C2=48 mln m(3)(please see note a).

The oil, occurring in the northern area of the structure, in sediments of Turonian-Upper Cretaceous age, was encountered at the depth of 3146-3212 meters. The Karlavske #12 hole was tested 1.3 m(3)/dat at 3315-3360 meters depth). Possible recoverable reserves are C1=144,000 tons and C2=469,000 tons.

Another gas deposit, in the Senomian-Upper Cretaceous, occurring in the southern portion of the Karlavske structure, was encountered at the depth of 3265-3572 meters. During the testing of the Karlavske #8 hole, gas flowed at 150,000 m(3)/day. During the removal of the test equipment at the Karlavske #13 hole, a gas surge occurred and the service water column reached 40 meters due to subsurface pressures. Possible gas reserves are: C1=156 mln m(3) and C2=458 mln m(3).

The Turonian oil is light with specific weight from 0.8102 to 0.8531 t/m(3). Fractional makeup of the oil: gasoline=0-29%, naphtha=10-21%, kerosene=12-17%, solar oil=5-6%, light distillate total=5-66%; black oil=34-45%, resin=10-12%. Initial boiling point is 75 degrees-121 degrees C and the viscosity is 4.32-4.7 cSt.

The gas of the Senomian is measured at 91.93% methane, 0.69% CO2 and the heavy hydrocarbon content indeterminate.

Karlavske Area License No. 1177, dated March 24, 1999 was issued to CrymGeologia for the purpose of geological studies, exploration for new anomalies to drill, experimental/industrial operation of producing wells and development of the fields. The License Area (including Karlavske oil and gas fields) is 60 km(2) which three levels total possible reserves are: oil 4.48 mmbl and gas 4.4mmboe.

Bargold Resources Ltd's internationally recognized consultant is presently evaluating and reviewing the Karlavske oil and gas fields.

Bargold Resources Ltd. is a junior Canadian natural resource company specializing in mining and Oil & Gas in emerging countries. Bargold Resources (proposed name change to be Indusmin Energy Corporation, subject to shareholder approval September 14th, 2000) reflects the company's new position, expanding into international markets and investment opportunities for under valued properties/projects.

ON BEHALF OF THE BOARD OF DIRECTORS

"Eugene Larabie"

President

Bargold Resources Ltd.

The contents of this News Release have neither been approved nor disapproved by the Canadian Venture Exchange.

a) Please note that superscript notations in this version of this story are represented as a numeral in parentheses, while subscript notations are represented as numerals without parentheses (usually a "1" or "2" following the letter "C."). The second paragraph, for example, contains this expression: "C1=39 mln m(3)," and should be read as "C subscript 1 = 39 mln superscript 3." These changes are necessary because many media systems do not support sub- and superscript characters. Also, the "degree" symbol has been replaced by the word "degree."