Diamond Mine On Schedule for September Start-Up.

Business Editors

WINDSOR, Nova Scotia--(BUSINESS WIRE)--June 19, 2002

Etruscan Resources Inc. (EET.TSE) and Mountain Lake Resources Inc. (MOA.CDNX) reported today that construction of the Phase I diamond mine at Ventersdorp in the Republic of South Africa is proceeding on schedule with commercial production to commence in September 2002. The mine will operate at a rate of 1,200,000 tonnes per annum and is projected to produce 19,200 carats of gem quality diamonds annually which has the potential to generate US$28,500,000 in after tax profits over 10 years.

All contractors to date have performed on time and on budget. Manhattan Mining Equipment are responsible for the fabrication, construction and commissioning of the diamond processing facility and will begin delivery of the plant components to the mine site starting June 24. Over the following eight weeks the entire diamond processing facility will be delivered and constructed.

Etruscan continues to provide detailed updates and photographs on construction progress at its website at www.etruscan.com. The website also provides production updates from contractors' bulk sampling operations and photographs of diamonds recovered from the Ventersdorp and Mooi River properties.

The common shares of Etruscan are traded on The Toronto Stock Exchange under the symbol "EET". The common shares of Mountain Lake are traded on the Canadian Venture Exchange under the symbol "MOA".

For more information from Etruscan contact:

Richard Gordon, Investor Relations

Tel: [phone]

Fax: [phone]

Tony Hayes, Vice President

Tel: [phone]

Fax: [phone]

For more information from Mountain Lake contact:

Allen Sheito, President and CEO 

Tel: [phone]

Fax: [phone]

Frank Metcalf, QC, Director

Tel: [phone]

Fax: [phone]

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