Coromandel Reports Assays Results on Weepah Gold Project.

VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Oct. 8, 1996--COROMANDEL RESOURCES(VSE:CND.) Coromandel Resources Ltd. (the "Company") reports that assay results from 11 of 15, Exploratory holes (shipments #1 and #2, Phase One) have been received, on Coromandel's Weepah gold project, Esmeralda County, Nevada. A total of 24 Target and Exploratory holes had been shipped for assay.

Phase One geological model indicated that reserves could be expanded substantially into a very large tonnage, disseminated, low grade heap leach deposit, above the 300 foot level.

None of the Target hole assays have been received to date. The possible presence of free gold in the samples has necessitated analyses of metallic fractions. Reverse circulation hole 96-R-13, an Exploration hole, was drilled vertically to a depth of 500 feet to obtain information for the Company's geological model for Phase Two. The results from the lower section of Exploratory hole 96-R-13 indicate a new zone of gold mineralization, 800 feet south of the Weepah East zone, where previous drilling delineated a near-surface reserve grading 0.042 oz/ton gold.

Management cautions the public that this new zone was not targeted in the recently completed drilling program and will require substantial drilling in Phase Two to establish the lower zone.

We also caution the public that we are still awaiting assays on the balance of the 24 holes, and in particular, the Target holes designed to establish economic values above 300 feet.

Exploratory holes #96-R-1,9 and 11, are still being assayed, as well as holes #96-R-16 through 96-R-24, which were shipped at later dates. -0-

ASSAY RESULTS

Cutoff Grade, Weepah project: 0.01 ounces per tonne

Exploratory hole #96-R-13 (800 feet south of Weepah East)

Intersection   140-150 feet   anomalous values, down dip of projected
                              extension, Weepah East.
Intersection   350-370 feet   0.024 oz/ton
Intersection   370-390 feet   weakly mineralized
Intersection   390-420 feet   0.025 oz/ton

-0-
         Exploration Hole #96-R-5 had anomalous gold values from
110 - 120 feet.
         Exploration Hole #96-R-15 had anomalous gold values from
190 - 200 feet.  (96-R-15 was drilled 3200 feet South and 3600
feet East of the Weepah open pit gold mine.)
         Exploration Hole #96-R-2 had anomalous gold values from
225 - 230 feet.

Management believes these results; in addition to suggesting a possible second gold-bearing zone below the original zone, indicates its thesis is correct that the original mine did not penetrate the main ore body and that reserves can be expanded into a large tonnage, disseminated, low grade heap leach deposit, above the 300 foot level. Exploration Holes #96-R-3,4,6,7,8,10,12 and 14 were drilled randomly to various depths and outside the main target area. All holes encountered mineralization. The information from these holes will be tabulated and utilized in the design of the geological model for the Phase Two drilling program. Phase Two drilling date will be announced as soon as all data has been received and tabulated.

The Phase Two geological model, will include three targets, including additional deep drilling below the 300 foot level, to expand the potential ore body, and confirming the results of the Phase One drilling program.

1) The Weepah quartz vein structure.

2) The Weepah East vein, recrystallized limestone, near surface, disseminated gold deposit.

3) The Weepah alluvium valley.

On behalf of the Board of Directors of Coromandel Resources Ltd.

Robert J. McGowan

No Stock Exchange has approved or disapproved of the information contained herein.

CONTACT: Coromandel Resources Ltd.

William V. Williams, 604/886-4798