Blue Ribbon Resources - Acquisition of Lawa Gold Concession, Eastern Suriname.

VANCOUVER, British Columbia--(BUSINESS WIRE)--July 9, 1996--BLUE RIBBON RESOURCES (VSE: BLO ) Blue Ribbon Resources is pleased to announce the acquisition of the Lawa gold concession in eastern Suriname, from Suriname Industries N.V.

The concession encompasses a 20,000 hectare area, and is situated adjacent to Canarc Resources' North Benzdorp concession. The Lawa concession also surrounds Blue Ribbon's Wetiedede concession. The Lawa concession is partially underlain by rocks equivalent to those found in the Benzdorp North and South concessions, situated immediately to the south, where Canarc Resources and Golden Star Resources are undertaking aggressive exploration programs.

Under the terms of the agreement, Blue Ribbon can earn an 80 percent interest in the Lawa concession by spending a total of US$1,000,000 in exploration costs on the property and making annual property payments to Suriname Industries. The initial property payment is US$15,000. Annual payments increase incrementally to $35,000 on the 5th anniversary date. Once Blue Ribbon has earned their 80 percent interest, they would form a Joint Venture with Suriname Industries.

Suriname Industries could elect to either (1) participate actively in the Joint Venture by contributing their 20 percent portion of further exploration and development costs, or (2) become diluted. If Suriname Industries' equity interest dropped below 10 percent, it would convert to a 3 percent Net Smelter Return. Suriname Industries would have the option of selling their 3 percent NSR interest to Blue Ribbon Resources for US$1,000,000. Blue Ribbon will manage the exploration program before and after formation of the Joint Venture.

Acquisition of the Lawa concession increases the Company's land position in Suriname by 50 percent and is consistent with the Company's plan to increase both its scale and pace of gold exploration in Suriname.

On Behalf of the Board of Directors of Blue Ribbon Resources Ltd.

-0-

The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy of the content of this news release.

CONTACT: Martyn Element & Associates

Martyn Element, 604/687-6820

604/687-6328 (Fax)

800/505-5655 (Toll Free)

INTERNET: http://www.info-mine.com/blue-ribbon/

E-MAIL: [e-mail]