Coleville Resources - New Assays from Joint Work Program On Coleville's Sumatra Property Confirm Significant Gold And Silver Occurrences.

CALGARY, Alberta--(BUSINESS WIRE)--Sept. 3, 1996--COLEVILLE RESOURCES (ASE:CLL) Coleville Resources Ltd. (CLL) trading on the Alberta Stock Exchange (ASE) is pleased to announce that a team of Coleville geologists with geologists from a potential joint venture partner have completed a massive channel, trenching and grab sampling on the company's Ojolali Property in the Lampung Province, South Central Sumatra.

Many of the nearly 1,000 gold and silver assays have been received from P.T. Geoservices Ltd. in Jakarta and confirms prior work on the property which had indicated the presence of large areas of consistent low-grade gold mineralization.

The detailed geological/reconnaissance, prospecting and sampling program has confirmed the existence of widespread "supergene enriched" gold and silver mineralization within a 5 by 5 kilometer area of intense hydrothermal alteration.

The assays which can be reported at this time contain some unexpectedly high solver and gold values and Coleville's geologist believes there is a potential in the district for at least one large open pit operation of "low cost gold" with significant credits from high silver values. In addition, the assays showed encouraging base metal values.

The gold values have been reported as high as 1.46 oz./ton and the silver values were as high as 56 oz./ton in the high grade zone. The low-grade zone has the potential of containing gold equivalents of 2.5 grams/ton. This compares quite favourably with Round Mountain, the modern open pit heap leach mining operation in Nevada, where a 1 gram/ton equivalent is currently being mined.

Coleville has also identified a "major volcanic caldera depression" on the Ojolall Property that is in excess of 3 kilometers in diameter, but will not speculate on the significance of this latest discovery until a detailed exploration and sampling program is conducted on the site.

Based on the volume and specificity of the data, Coleville plans on releasing additional information regarding the results received from the assay program along with additional information on the progress of its joint venture negotiations, as well as current developments on its other properties in Venezuela and Indonesia. Further press releases will follow later this week. The company plans on initiating a formal drilling program to further qualify the above sampling results.

Coleville Resources Limited (CLL) is a rapidly emerging junior mining company with extensive mineral holdings in two of the world's great frontier mining regions, Indonesia and Venezuela. Its goal is to develop world class mines in these areas through its own resources and in conjunction with qualified joint venture partners.

COLEVILLE RESOURCES LIMITED David R. Bourne, Director

The above release has neither been reviewed or approved by the Alberta Stock Exchange.

CONTACT: Colleville Resources Limited

David R. Bourne

Director

800/976-1122 or

604/327-9040