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CONSTRUCTION COMMENCED AT AMAX GOLD'S HAYDEN HILL PROJECT

       CONSTRUCTION COMMENCED AT AMAX GOLD'S HAYDEN HILL PROJECT
    GOLDEN, Colo., Nov. 18 /PRNewswire/ -- Amax Gold Inc. (NYSE: AU; TSE: AXG) has received final approvals to proceed with construction of the Hayden Hill Mine, northwest of Susanville, Calif. The Bureau of Land Management and U.S. Forest Service have completed public review of the final Environmental Impact Statement and have issued Records of Decision approving the mine plan of operations. These decisions allow Amax Gold to begin full-scale construction of Hayden Hill.  At a meeting held in Susanville on Sept. 25, 1991, Amax Gold received unanimous approval from the Lassen County Board of Supervisors to proceed with construction on privately-held land. Subsequently, Amax Gold began construction on the privately held land after receiving this approval. With construction on a fast-track, production is expected from Hayden Hill in the second quarter of 1992.
    "We are gratified by the cooperation we have received from the county and federal agencies in their thorough environmental analysis and in bringing the permitting process of Hayden Hill to a successful conclusion," commented Timothy J. Haddon, president and chief executive officer of Amax Gold.  "Hayden Hill is slated for annual production of about 145,000 ounces of gold at cash costs of about $250 per ounce. Construction of this mine represents another milestone in Amax Gold's strategy of quality growth."
    Amax Gold Inc. produces and explores for gold in the United States and New Zealand, is listed on the New York and Toronto stock exchanges and is 87 percent owned by AMAX Inc.
    -0-                       11/18/91
    /CONTACT:  Gina Wilson of Amax Gold Inc., 303-273-0623/
    (AU AXG) CO:  Amax Gold Inc. ST:  Colorado IN:  MNG SU: SS-AW -- DV002 -- 1330 11/18/91 10:32 EST
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Publication:PR Newswire
Date:Nov 18, 1991
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