Corriente Resources 5,000 Metre Drill Program to Begin on Laurani Silver-Copper-Gold Property.

VANCOUVER, British Columbia--(BUSINESS WIRE)--May 20, 1997-- Corriente Resources(TSE CTQ.) The first phase of drilling will commence in two weeks on the Laurani Project, located in the altiplano of northwestern Bolivia, 125 kilometres southeast of La Paz.

The program is part of a joint venture between Corriente Resources and Ascot Resources, which will evaluate the potential for high sulphidation bulk tonnage style silver-copper-gold mineralization. Initial drilling will mainly target the Capaja and Carnavalito zones, previously undeveloped areas in the southern part of the Laurani volcanic complex. These zones consist of intensely clay altered volcanic rocks surrounding widely scattered "ledges" of quartz-alunite alteration exposed over an area 1,500 metres by 750 metres and with a minimum vertical extent of 300 metres. The drill holes are planned to evaluate silver-arsenic soil and bedrock anomalies within altered rocks accompanied by chargeability, resistivity, and magnetics anomalies. Phase one drilling will comprise 15 holes totaling 5,000 metres and will utilize a reverse circulation drill supplied by Boytec of La Paz. The drill will be capable of testing targets to depths of 400 metres below surface.

In separate news, Corriente has completed a revised option agreement regarding Cateo 14816 (Cerro Samenta Project) which was originally announced on a press release of August 26, 1996 and further discussed on a press release dated December 16, 1996. The revised agreement with Globe Enertech Ltd. calls for the reduction to two hundred thousand common shares of the two million common shares of Corriente originally required to be issued in order to exercise Corriente's option to acquire the Samenta property. Under the revised agreement, 100,000 shares are to be issued upon approval by the Toronto Stock Exchange, and the balance upon the satisfaction of certain conditions. Cateo 14816 is subject to a title dispute between the underlying property owner and a subsidiary of Mansfield Minerals of Vancouver, B.C. The dispute is currently before the Argentina court system.

Kenneth R. Shannon, President -0-

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

CONTACT: Corriente Resources Inc.

Mr. Dan Carriere, 604/687-0449

604/687-0827 (FAX)

http://www.info-mine.com/corriente