Corum Resource Reports Mineralized Showings Located During Exploration on Mazenod Lake Claims, NWT.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 12, 1996--CORUM RESOURCE CORP.(VSE: CMZ ) Corum Resource Corp.("Corum") is pleased to announce that field crews have completed the initial reconnaissance mapping and prospecting on its 100 percent owned DEN 1-8 and OD 1-2 claim blocks, located in the Mazenod Lake area, Northwest Territories. Numerous companies, including Fortune Minerals Limited, are carrying out exploration for potentially large polymetallic "Olympic Dam"-style copper-gold-silver-uranium mineralization.

Initial prospecting of anomalies outlined by the 1994 Geological Survey of Canada regional airborne geophysical survey, located several areas of mineralized gossans on both groups of claims. Corum believes that, based on the initial exploration results, the OD claims appear to have significant potential to host polymetallic mineralization within Snare Group metasediments and associated Proterozoic intrusives. Gossans on the OD claims are related to shears, fractures and quartz stockworks within Proterozoic metasediments located near the Wopmay Fault which could have served as a channelway for the mineralizing fluids. The mineralization consists of varying amounts of magnetite, hematite, pyrite and chalcopyrite. Two samples collected assayed up to 0.45 grams/tonne gold and 9.6 grams/tonne silver, respectively. Six of seven samples collected contained anomalous copper values, ranging from 0.18 percent up to 2.01 percent copper. The prospectors also found a brecciated gabbro containing abundant amounts of magnetite. Although not mineralized on surface, the magnetic anomaly caused by this feature extends for some distance under a lake.

The detailed airborne geophysical survey due to commence this week will allow greater definition of the magnetic and radiometric anomalies which led to the initial discoveries of the gossans. Additional field work will be required upon completion of the survey. The DEN 9 and DEN 10-11 claim blocks, located in close proximity to the former producing Rayrock Mine have not been prospected on the ground. Ground work will be carried out upon receipt of the airborne geophysical survey data which will include magnetics, radiometrics and electromagnetics. This survey is being carried out on behalf of a consortium of companies active in the area of the NICO and Sue-Dianne discoveries and is being managed by Fortune Minerals Limited. -0- ON BEHALF OF THE BOARD OF DIRECTORS OF CORUM RESOURCE CORP. Frank A. Johnson President and Director -0- The Vancouver Stock Exchange has neither approved nor disapproved of the information contained herein.

CONTACT: Corum Resource Corp.

Mr. Rick Smith, 604/643-1711

1-888-212-2288