Coleville and Antares Close Joint Venture on Ojolali Property.

CALGARY, Alberta--(BUSINESS WIRE)--Feb. 26, 1997--Coleville (Alberta Stock Exchange: CLL) -- Coleville Resources Ltd. wishes to announce that it has formally concluded a definitive joint venture agreement with its joint venture partners Antares Mining and Exploration Corporation (ANZ-TSE) and P.T. Kurnia Dwipa Kencana on the Ojalali gold property located in the district of North Lampung, Lampung Province on the island of Sumatra in the Republic of Indonesia.

An aggregate of U.S. $1,500,000 has been paid to P.T. Kumia Dwipa Kencana and Coleville is to receive 1,030,000 common shares of Antares pursuant to the joint venture agreement.

Antares has committed to fund the first $500,000 U.S. of exploration on the Ojalali property and has outlined a program of aerial geophysics, surface exploration, and drilling encompassing expenditures of CDN $1,700,000 in 1997 and CDN $3,300,000 in 1998.

Assay results from Antares due diligence on the Ojalali property have been received, are undergoing final plotting and interpretation, and will be released shortly. -0-

NOTE: NEITHER THE ALBERTA STOCK EXCHANGE NOR ANY OTHER REGULATORY BODY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE.

CONTACT: Silicon Capital Corp.

Gerry Belanger, 403/205-3660

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