Copper Ridge Explorations: World Class Zinc Deposit Purchase From Placer Dome and U.S. Steel.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--July 6, 2000

Copper Ridge (CDNX:KRX.)

Copper Ridge Explorations Inc. is pleased to announce it has acquired an option from Placer Dome (CLA) Limited ("Placer") and U.S. Steel Group - Cygnus Mines Limited ("U.S. Steel", collectively, the "Vendors") to purchase a 100% interest in the Howards Pass Zn-Pb-Ag deposit along the Yukon-Northwest Territories border in northern Canada. The Howards Pass property holds one of the largest undeveloped zinc deposits in the world with a resource estimate calculated by Placer of 110.5 million tonnes grading 7.7% combined zinc plus lead, with silver and cadmium.

Copper Ridge believes that an innovative combination of existing and recently developed mining and metallurgical technology give Howards Pass the potential to become one of the largest and lowest cost zinc producers in the world.

Key factors that make this an attractive acquisition target for Copper Ridge:

      * World-class zinc resource in a configuration that should allow
efficient, bulk tonnage surface mining.
      * Potential for application of newly developed environmentally
friendly hydrometallurgical technology.
      * Potential for development of relatively inexpensive gas turbine
power near the project.
      * Excellent potential for new discoveries, including high-grade
zones such as the core of the known XY deposit.
      * Favourable acquisition terms.
      * Advanced discussions with a senior participant.
      * The Yukon government is actively encouraging mineral
development.

PROPERTY BACKGROUND

Howards Pass is one of the largest undeveloped zinc deposits in the world. It is a sedimentary hosted, or "Sedex" deposit and most of the known mineralization lies within two deposits, XY and Anniv, within a 45 km trend of favourable stratigraphy. The deposit was discovered by Placer in 1972 and was explored by drilling and underground exploration through to 1981. U.S. Steel became a participant in 1975. Over the 10 year period, approximately Cdn$15 million was spent on the property. In 1981, Placer estimated a resource of 110.5 million tonnes at a grade of 7.7% combined zinc and lead (approximately 5.3% zinc and 2.4% lead) at a 4% combined cut-off within a much larger global resource. The project has not been developed previously due to a lack of infrastructure and the high cost of traditional milling and smelting options.

DEVELOPMENT PROPOSAL

Copper Ridge plans to undertake a staged evaluation of the property, commencing with a comprehensive, 150-day due diligence period to be followed by a pre-feasibility study. The main focus of this work will be on metallurgy and power options, both of which have the potential to dramatically reduce capital and operating costs for a project of this scale. In addition, the due diligence will examine the resources identified to date, mining plans and infrastructure alternatives. The goal will be to develop Howards Pass into a highly profitable, world class mining and metal production operation.

Metallurgy: Copper Ridge proposes to investigate the use of hydrometallurgical processing that would result in the production of zinc metal at or near the mine site. To this end, Copper Ridge is in discussions with a major mining company that holds proprietary rights to new hydrometallurgical technology that could be applicable to Howards Pass ores. This new proposal has the potential to resolve many of the issues that had previously held this project back from development. These include the potential for simplification of the metallurgical process and improved zinc recoveries, reduced transportation costs by eliminating the need to move concentrates to smelters and the elimination of smelter charges.

Power: With the recent discovery and development of natural gas reserves in northeastern B.C. and western Northwest Territories and active exploration in southeastern Yukon, relatively inexpensive gas turbine power could be developed reasonably close at hand to the project. This is in contrast to the original proposal for expensive diesel generated power at the site.

In addition to the above developments, Copper Ridge believes that there is excellent exploration potential for further deposit discoveries within the 45 kilometre trend of favourable stratigraphy.

Copper Ridge plans immediate work on the project commencing with preliminary metallurgical testing and an engineering evaluation of all aspects of the project, from reserve and resource calculations to mining and processing plans and infrastructure. This work will be carried out during the 150 day due diligence period. Contingent upon the success of this review, the Company will then commence a detailed project pre-feasibility that is expected to include a major drill campaign, comprehensive metallurgical testing and engineering studies.

The Honourable Pat Duncan, newly elected Premier of the Yukon, met with mining industry representatives in Vancouver recently and stated: "... mining activity remains the most important business sector [to the Yukon]. We must regain the positive contribution that the mining sector can make to the Yukon and restore investors' confidence in the Yukon." She promised that her government would work diligently towards a new strategy to promote exploration and mine development in the territory.

PURCHASE TERMS

Terms of the purchase of a 100% interest in the project include an initial payment of $10,000 and a 150 day period for due diligence. Copper Ridge can then exercise its option to purchase the property by making a $1 million payment to the vendors (75% cash, 25% units) as a part of a $10 million total payment over four years. A further $5 million is payable as a bonus on a production decision. This non-binding letter of intent is subject to approval of the CDNX and the Board of Directors of Placer and U.S. Steel - Cygnus Mines Limited and the execution of a formal agreement.

Copper Ridge's objective is to aggressively enhance shareholder value. Management believes the Howards Pass project and Copper Ridge's development plan represent a potentially richly rewarding opportunity to achieve this.

On Behalf of the Board of Directors Gerald G. Carlson, Ph.D., P. Eng. President & CEO

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.