Cathedral Reports Results for the Three Months Ended March 31, 2000.

Business Editors

VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--May 30, 2000

Cathedral Gold Cathedral Gold Corporation (CAT-T)(TSE:CAT.) reports financial results for the three months ended March 31, 2000 as follows:

(Unaudited)            March 31, 2000   March 31, 1999

Revenues                          Nil         $114,395
Net Loss                      $24,590         $206,349
Net Loss Per Share              $0.00            $0.01
Operating  Loss                   Nil         $179,883
Cash Flow Deficiency          $24,258         $201,826

Prior to December 31, 1999, all of Cathedral's revenues were derived from the sale of Cathedral's share of gold produced at the Sterling mine.

The financial results for the three months ended March 31, 2000 reflect the debt settlement agreement entered into between Cathedral and Imperial Metals Corporation effective December 31, 1999. All long term debt in the amount of US $1,283,881 owed by Cathedral to Imperial was settled in consideration of Cathedral issuing 1.4 million common shares to Imperial and assigning to Imperial all of its interests in the Sterling mine and in the Porcher Island and Addington properties.

On May 4, 2000, Cathedral announced that it had agreed to acquire Directional Plus Ltd. ("DPL"), a Calgary based private company that provides horizontal and directional drilling services to the oil and natural gas industry in Western Canada. The acquisition of DPL remains subject to regulatory approval.