Chase Resource acquisition of three more mineral concessions in the Philippines.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 18, 1995--Ian Rozier, president of Chase Resource Corp. (ToSE:CQS), announced that three Financial and Technical Assistance Agreements (F.T.A.A.s) have been submitted by the company's Philippines subsidiary, Chase Minerals (Phils.) Inc. for and on behalf of the company.

Two F.T.A.A.s have been filed on Mindoro Island south of the Batangas F.T.A.A. and Taysan project, and one has been filed in southern Mindanao.

The two F.T.A.A.s on Mindoro Island cover a total area of 162,000 Ha and are known as the Mamburao and Calapan concessions. Reconnaissance work on the Mamburao and Calapan F.T.A.A.s has identified silicified limestone with disseminated pyrite and chalcopyrite, and zones of massive sulphides. These two styles of mineralization have not been recognized previously and represent new exploration targets on Mindoro.

The Kiamba F.T.A.A. in southwest Mindanao covers an area of 114,000 Ha and is adjacent to and immediately south of the T'Boli F.T.A.A. (see news release dated July 11, 1994). Work at the Kiamba F.T.A.A. on Mindanao has discovered a large alteration system associated with a microdiorite intrusive that has returned anomalous copper and gold values.

These F.T.A.A.s enhance the company's land position in a very prospective region where several other companies are currently active.

Under Philippine law, an F.T.A.A. grants a right to explore and develop the project area for a term of 25 years, which may be extended for a further 25 years. The F.T.A.A. allows 100 percent foreign equity in mining ventures exceeding $50 million (U.S.) in cost and represents a significant advance in government policy for promoting foreign investment in natural resource projects.

The recent passing of the New Mining Code in the Philippines has resulted in several international mining companies setting up in the Philippines. Recent applicants for F.T.A.A.s include Newmont of the U.S., Placer Dome, Newcrest, Climax Mining, TVI Pacific and Delta Gold Mining Corp. of Vancouver, a company partly owned by Chase.

These F.T.A.A.s represent major acquisitions by the company in one of the most active gold and base metal exploration areas in southeast Asia. The company will be aggressively pursuing other opportunities in the southeast Asia region. -0-

NOTE: Location map available from the company at the phone number listed below. The Vancouver Stock Exchange has neither approved nor disapproved the contents of this news release.

CONTACT: Ian Rozier/Michael Callahan, 604/685-6851

800/510-8566 (Toll free in North America)