Cusac Gold's 1997 Full Year Results.

VANCOUVER, British Columbia--(BUSINESS WIRE)--March 4, 1998-- CUSAC GOLD(TSE:CQC.) (NASDAQ:CUSIF) David H. Brett, Vice President, reports the following summarized 1997 full year results. All figures are in Canadian Dollars. -0-

                     Three Months Ended    Twelve Months Ended
                           Dec. 31                 Dec. 31
                        1997       1996       1997        1996

Production Revenue   $538,616 $1,975,000 $3,146,616 $10,963,665
Production Costs    1,118,764  2,094,000  6,340,764   8,285,636
Exploration Costs   1,245,174        (x)  1,245,174         (x)
Administration
 Costs                234,128    230,000    838,128     849,103
Resource Properties
 Write-off          2,300,000        nil  2,300,000         nil
Investment
 Write-off            168,750        nil    168,750         nil
Net Income (loss)  (4,528,200)  (349,000)(7,746,200)  1,828,926
Net Income (loss)
 per share             ($0.22)    ($0.02)    ($0.37)      $0.10

(x) 1996 Exploration Costs included in production costs.

1997 revenues decreased to $3,146,616 in 1997, compared to $10,963,665 for 1996, resulting in a loss for the year, before write-downs, of $5,277,450, or $0.25/share, compared to net earnings of $1.82 million for 1996, or $0.10/ share. Including write-downs of $2,468,750, 1997 losses totaled $7,746,200, or $0.37 per share. Working capital at December 31, 1997, was $240,723.

Losses for the period are attributable to decreased gold production due to a significant decrease in ore grades, lower recovery rates, and lower gold prices. 1997 gold production totaled 8,331 ounces from processing of 26,501 tons at an average grade of 0.341 opt with recovery rates averaging 90 percent. The resource property write-down of $2.3 million reflects accelerated amortization of costs due to a shortening of the mine life horizon to take into account lower gold prices and lower grades of current reserves.

Given current low gold prices and lower reserve grades, management does not expect to resume mining operations at its Table Mountain property during 1998. Company geology and engineering staff are in the process of digitizing, reviewing and interpreting the considerable exploration data generated in 1997 and previous years for the purpose of generating new high grade drill targets for 1998. Also, the company is currently reviewing a number of new properties for possible acquisition.

In other news, Cusac has retained American Eagle Resources Ltd. to provide corporate financial and investor relations services to the Company and has granted to American options to purchase 700,000 shares of Cusac common stock at $0.35 for a period of five years, subject to the approval of the Toronto Stock Exchange. Cusac Gold Mines Ltd. David H. Brett, Vice President

CONTACT: Cusac Gold Mines Ltd.

David Brett, 800/670-6570

604/682-7576 (FAX)

Website: http://www.cusac.com

E-mail: [e-mail]