Consolidated Silver Tusk Mines, Ltd. Corporate Update.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 26, 1999--

The Board of Directors of Consolidated Silver Tusk Mines, Ltd. (VSE:CKS) takes pleasure in making the following announcements.

Karya Bukit Utama (KBU) Property I.P. Survey Completed

The Company completed an I.P. Survey on their KBU property during the first week of October. Ten grid lines for a total of 6,325 meters were surveyed in 12 consecutive days. A geophysicist processed each day's data and the resulting preliminary pseudosections (profiles), as expected, show many previously unknown (and known) geological features.

The field portion of the project was completed on schedule and the entire project will come in under budget. The final report from the geophysicists will be ready within three weeks, at which stage the completion and availability of the colored pseudosections, geophysical maps and geophysicists' reports will be immediately utilized to identify recommended drilling targets. A drilling program is planned and will commence as soon as possible thereafter.

Assay Reports

During September, the company proceeded with assays on their KBU property. Promising results have been returned from four random auger samples taken from down the valley in the old KBU tailings areas. Samples were recovered from a depth of approximately one meter. Results were as follows. -0-

Top of Valley:     4.15 g/t Au   603 g/t Ag
                   2.83 g/t Au   342 g/t Ag

Bottom of Valley:  2.16 g/t Au   241 g/t Ag
                   1.36 g/t Au   204 g/t Ag

These values show an expected drop off with distance away from the outflow source. To estimate the amount and value of this material, it is planned to grid sample the area. It is further planned to use these old tailing areas in the near future for new tailing deposits. More comprehensive results are expected from ongoing exploration in the near future.

Exploitation

The company's mining management has identified at least two areas for immediate exploitation by means of "Continuous Bulk Mining." South Gate Trench in particular presents immediate exploitation capabilities. This area consists of 132,000 tons grading 3.53 g/t Au and 230 g/t Ag, an area approximately 100 meters long, 30 meters wide and 20 meters in depth. This specific area could be mined with a minimum of preparation, and yield 265 days of production at a rate of 500 tons per day. The company plans to commence with their drilling and exploitation activities prior to this year's end.

Mergers/Acquisitions

The company has entered into preliminary negotiations with Tri-Star Gold Corporation for the purpose of establishing the feasibility of a merger. Tri-Star Gold has several gold properties in Ghana, Africa, and is currently conducting several drilling programs on these properties. It is the objective of CKS to complete a full due-diligence on the viability of such a transaction. These negotiations are the first of several planned by the Board of CKS in order to create for the company a more diverse asset base, together with corporate growth, and afford shareholders additional investment security. CKS has also commenced with preliminary discussions with mining operators in Indonesia that have shown an interest in acquiring CKS's expertise and the use of equipment to process mined materials. Under acceptable terms, such joint ventures can be lucrative ventures, affording CKS additional capital cash flow.

The Board of Directors looks forward to reporting back on several of the above-mentioned subject matters in the near future. Please visit our new web site for weekly/monthly reports on the company's activities at www.silvertusk.com.

On Behalf of the Board of Directors,

William Van der Merwe Vice President -- Finance & Administration

The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.