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Birim Goldfields Inc.: Ashanti Finds New Gold Zones at Dunkwa.

Business Editors

MONTREAL--(BUSINESS WIRE)--July 30, 2001

Birim Goldfields Inc. (TSE:BGI.) has received results from Ashanti Goldfields Company Limited (NYSE:ASL)(TSE:AHD.U.) for trenching and sampling conducted by them on the Aboronye gold prospect.

This area is located 500 metres west of the Mampon gold deposit and is outside the forest reserve boundary. The prospect lies within the 40 square kilometre portion of the Dunkwa property which Birim spun off to Ashanti last year. Birim is to receive advanced royalty payments for all the recoverable ounces of gold within this area.

Twenty-nine trenches, extending over a cumulative length of 1,512 metres, were excavated in a northeast-southwesterly direction across four newly discovered mineralized zones along a strike length of 700 metres. The mineralisation appears to be present along a splay off the main Ashanti structure, as is commonly found at Ashanti's deposits at Obuasi. Good gold values were encountered along 580 metres of this strike length. Of the 1,008 samples assayed, 362 samples returned values above 0.5 grams of gold per tonne, with the average of these being 2.04 g/t. Twenty-five samples assayed greater than 5.0 grams of gold per tonne showing the existence of high-grade zones such as are found at Mampon. In addition, the mineralized zones exhibited good continuity from trench to trench. The results of this work are presented in the following table:


Trench Easting Northing Length From To Width Grade Remarks
 (m) (m) (m) (m) (g/t)

TAB01A 11024 31552 69.0 No significant mineralisation
TAB02A 11020 31658 82.5 10.5 64.5 54.0 1.07 Zones 1,2
TAB03A 10945 31617 103.5 7.5 72.0 64.5 2.12 Zones 1,2
TAB04A 10972 31736 55.5 36.0 52.5 16.5 0.98 Zone 2
TAB04B 10946 31688 61.5 18.0 45.0 27.0 3.97 Zone 1
TAB05A 10946 31775 126.0 28.5 69.0 40.5 1.68 Zone 2
TAB06A 10915 31793 84.0 16.5 52.5 36.0 1.51 Zone 2
TAB07A 10863 31821 40.5 0.0 40.5 40.5 1.93 All
 within mineralisation;
 Zone 2
TAB07B 10878 31835 16.5 No significant mineralisation
TAB08A 10859 31934 9.0 No significant mineralisation
TAB08C 10790 31896 25.5 No significant mineralisation
TAB09A 10789 31979 36.0 0.0 28.5 28.5 2.15 Started in
 mineralisation; Zone 3
TAB09B 10804 31984 16.5 No significant mineralisation
TAB10A 10799 32059 37.5 0.0 27.0 27.0 0.83 Started in
 mineralisation; Zone 4
TAB11A 10790 32122 37.5 19.5 37.5 18.0 1.22 Ended in
 mineralisation; Zone 4
TAB12A 10780 32191 85.5 No significant mineralisation
TAB12B 10791 32197 12.0 No significant mineralisation
TAB13A 11001 31667 63.0 4.5 24.0 19.5 1.92 Zone 2
TAB14A 10950 31741 97.5 10.5 76.5 66.0 1.89 Zones 1,2
TAB15A 10922 31772 46.5 7.5 40.5 33.0 1.41 Zone 2
TAB16A 10885 31807 48.0 4.5 40.5 36.0 2.63 Zone 2
TAB17A 10773 31837 54.0 No significant mineralisation
TAB18A 10785 31954 28.5 No significant mineralisation
TAB19A 10800 32022 48.0 No significant mineralisation
TAB20A 10792 32090 33.0 4.5 33.0 28.5 3.74 Zone 4
TAB21A 10789 32160 34.5 No significant mineralisation
TAB22A 11037 31635 46.5 12.0 28.5 16.5 2.37 Zone 2
TAB23A 10795 31814 55.5 No significant mineralisation
TAB24 10747 32218 58.5 No significant mineralisation

--These coordinates represent the northeast end of the trench.


From this data, Birim believes that Aboronye could host mineralised zones which are lower in grade but higher in tonnage than at Mampon. If shown to be economic, the ore could be trucked to Ashanti's heap leach facility 20 kilometres to the west at Ayanfuri. These results and corresponding maps are posted on Birim's web site at: www.birim.com

Ashanti is keen to follow up on these results and has prepared 36 drill sites for a reverse circulation drilling programme which is scheduled to begin shortly. Given the encouraging results obtained at Aboronye, Ashanti will be carrying out trenching on two other prospects within the 40 square kilometre area, namely Adukrom and Akwaboa, located to the south of Aboronye and also outside the forest reserve.

The name of the Qualified Person (QP) supervising the field programme for Ashanti is Clement Asamoah-Owusu, M.Sc. (Leicester), Manager Geology - Exploration. Birim's QP is Matthew Chinn, Chartered Geologist, FGS, MAusIMM, Vice-President - Exploration. All the assaying was carried out at AGC Laboratories in Obuasi utilizing fire assay with atomic absorption finish.

Birim Goldfields Inc. is a mining exploration firm whose mission is to explore and develop gold deposits in Ghana, West Africa. The Company currently has 24.1 million common shares outstanding.
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Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1CANA
Date:Jul 30, 2001
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