Big Blackfoot Resources -- Exploration Update.

CALGARY, Alberta--(BUSINESS WIRE)--June 3, 1998--Big Blackfoot Resour (Alberta Stock Exchange:BLF.) On May 7th, 1998, the company's joint venture partner announced a major assay grade increase at the Plata-Inca, Yukon Property, which is 100 percent owned by Big Blackfoot Resources Ltd. until $2.1 million has been spent by the partner to earn its 70 percent working interest.

Approximately $900,000 has been spent to date. The $500,000 drill program took place between January-May 1998. The drill, bulldozer and fuel remain on the site, to perform the on going evaluation.

The average grade for the P4 zone was determined by 25 metre centered drilling, and verified previous gold grade at 3.3 g/t (0.10 o.p.t. Au). Silver grades were more than doubled for 5-10' widths within 8-40 feet of surface in the near flat-lying deposit, in 13 new rotary drill holes. There appears to be a high grade enriched zone associated with the major Northwest trending fault zone, on the hangingwall.

Silver grades for the P-4 zone are now at 20 oz/ton, and lead-zinc values indicate an average grade of 5.4 percent combined base-metals, giving a recoverable gross value of in excess of $150.00 (U.S.) per ton. ($225/ton (C))

The drilling and trenching program resumes immediately. The program is designed to extend the P-4 zone northward to connect with the P-3 zone over intermediate ground, which greatly increases bulk tonnage and mining feasibility in a zone some kilometers long.

The company also announces that it has set its Annual Meeting date at July 21, 1998. It will be a Special Shareholders Meeting to approve the final acquisition terms of the Lincoln, Montana gold project which is deemed economic to bring into heap-leach production in late 1999 or as soon thereafter as permitting will allow. The property is held by 1997 option from four Directors, after 1995 acquisition.

The nearby Canyon Resources "MacDonald Meadows" deposit is expected to commence production in late 1999, at $300/oz. (U.S.) gold price or higher. Permitting has been arduous, but Big Blackfoot Resources Ltd. has the benefit of expensive base-line data, now public, thus reducing costs of completion of its own permitting work. The company permitting was 60 percent complete at acquisition.

The company has closed the first third of a $327,000 private placement at $0.36/share, fully subscribed and final closing May 15th, 1998. Funds will be used for General Corporate Purposes, and for the Caramelia Project in South British Columbia, as interim financing prior to a major financing being solicited by IBK Capital of Toronto, Ontario, on the company's behalf.

    CONTACT:  Big Blackfoot Resources Ltd.
               Paul S. White, 403/269-2122
               403/261-9964  (FAX)
               [e-mail]
               http://www.big-blackfoot.com