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Blue Emerald Resources Inc. and International Larder Minerals Inc. Announce a Joint Venture Program Urban Township Area, Quebec.

TORONTO--(BUSINESS WIRE)--Oct. 31, 1996--BLUE EMERALD (VSE:BER.) Blue Emerald Resources Inc. ("Blue Emerald") and International Larder Minerals Inc. ("Larder") are pleased to announce a 50/50 joint venture on their respective claim blocks in Capriquet Township and Souart Township, Quebec.

Blue Emerald 's 100 percent owned 34 claim block in Capriquet Township and Larder's 100 percent owned 80 claim block in Souart Township are now both subject to a 50/50 joint venture between the two companies.

Line cutting and ground geophysics are scheduled to begin shortly on these two claim blocks as well as covering the companies 46 claim block situated in Urban Township and in which Larder retains a 60 percent interest and Blue Emerald a 40 percent interest. The current exploration budget covering all three projects is estimated to be $150,000, subject to the results of this first phase of exploration, a diamond drill program will be planned.

All three claim blocks were selected on the basis of favourable geology and geophysics. The Urban Township claim block is situated northeast of the MURGOR RESOURCES INC. gold deposit, while the 80 claim Souart Township block abuts the block hosting the NUBAR gold deposit to the southwest.

Several gold showings in Urban Township confirm a northeast trend of gold deposits and showings in the region.

The Capriquet Township claim block covers several strong airborne magnetic and electromagnetic anomalies in an area hosting numerous gold showings where outcrops have been located. Very little organized exploration has been undertaken on the prospects until the recent Murgor discovery in the area.

On October 23, both Murgor Resources and Freewest Resources announced an agreement reached with Teck Corporation on 111 claims controlled by the former two companies whereby Teck Corporation, a major Canadian mining company, can earn a 50 percent interest by spending $4.5 million. The claims cover the MURGOR gold deposit and other properties which overlie this northeast trend of gold mineralization which extends into Urban Township.

Blue Emerald further advises that it has agreed to issue an additional 50,000 common shares pursuant to the company's approved incentive stock option plan subject to all regulatory approvals.

BLUE EMERALD RESOURCES INC. Derek Bartlett, President -0-

The Vancouver Stock Exchange has neither approved nor disapproved the information contained herein.

CONTACT: Blue Emerald Resources Inc.

Derek Bartlett, 416/ 864-1456

or

Blue Emerald Resources Inc.

Richard Nemis, 416/864-1456

or

Blue Emerald Resources Inc.

Katharin von Gavel, 800/ 250-4485

(905)542-3551
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Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Oct 31, 1996
Words:410
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