Brush Creek Retains Kvaerner Metals for Iron Mountain Project.GRASS VALLEY, Calif.--(BUSINESS WIRE)--June 26, 1998--Brush Creek Mining and Development Co., Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BCMD) today announced that it has retained Kvaerner Metals to assist the company by providing engineering and potentially construction services with regard to the Iron Mountain Mine Iron Mountain Mine, also known as the Richmond Mine at Iron Mountain, is a mine near Redding in Northern California. Geologically classified as a "massive sulfide" ore deposit, the site was mined for iron, silver, gold, copper, zinc, and pyrite intermittently from the 1860s on which the company currently holds an exclusive option. The Iron Mountain Mine is a massive sulphide deposit near Redding, Calif. with a proven reserve of 241,000 tons of copper, 323,000 tons of zinc, 542,000 ounces of gold and 18,000,000 ounces of silver. Kvaerner Metals (formerly Davy McKee) is very familiar with the Iron Mountain Mine. In 1986 they created a pre-feasibility study on the project and completed additional studies in 1991. Kvaerner Metals designs and constructs mining and processing facilities for base and precious metals and non-metallic minerals, with expertise in beneficiation beneficiation Treatment of raw material (such as pulverized ore) to improve physical or chemical properties in preparation for further processing. Beneficiation techniques include washing, sizing of particulates, and concentration (which involves the separation of valuable , hydrometallurgy hydrometallurgy Extraction of metal from ore by dissolving the metal (as one of its salts) and then recovering it from the solution. The operations usually involved are leaching (dissolving in water), commonly with additional agents; separating the waste and purifying the , pyrometallurgy Pyrometallurgy The branch of extractive metallurgy in which processes employing chemical reactions at elevated temperatures are used to extract metals from raw materials, such as ores and concentrates, and to treat recycled scrap metal. and electrometallurgy Electrometallurgy The branch of process metallurgy dealing with the use of electricity for smelting or refining of metals. The electrochemical effect of an electric current brings about the reduction of metallic compounds, and thereby the extraction of metals . Christine Wiedmeier of Kvaerner Metals stated, "We have extensive experience in copper, gold, zinc and silver recovery processes. Additionally, we have worked extensively with EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. Region IX. Kvaerner Metals is pleased to participate in this exciting project." Kvaerner ASA, with international headquarters in London, employs more than 60,000 people worldwide and has annual operating revenues approaching U.S. $10 billion. Mitch Jones, Brush Creek's chief geologist, stated, "I have organized a meeting for July 10, 1998, in Redding to discuss our plans for the project. The list of invitees includes environmental agencies, academicians, and officials from Shasta County, the State of California and the Federal government, among others. Kvaerner Metals' first task for Brush Creek will be to describe at the meeting the remedial mining concept, how it may minimize environmental impacts, and how our mining activities will ultimately alleviate the source of Iron Mountain's acid mine drainage Acid mine drainage (AMD), or acid rock drainage (ARD), refers to the outflow of acidic water from (usually) abandoned metal mines or coal mines. However, other areas where the earth has been disturbed (e.g. ." Certain statements contained herein constitute "forward looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance, achievements expressed or implied by such forward looking statements. Such factors include, among others, the factual results of current exploration activities, future prices of gold as well as adequate funding to perform the work. Brush Creek controls nine mines in the Alleghany-Downieville district of Northern California, which produced more than 12 million ounces of placer gold and 2 million ounces of hard rock gold. It also controls more than 4,000 acres of potentially diamondiferous ground near La Porte, Calif.
CONTACT: Brush Creek Mining and Development Co. Inc.
Lionel Gosselin, 888/272-7335
or
Jim Chapin 530/477-5961
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