Diamond drilling program started on Owl Creek West gold property.

TORONTO--(BUSINESS WIRE)--March 14, 1996--THUNDERWOOD RESOURCES (TSE:THS NASDAQ/OTC BULLETIN BOARD:TWDRF) Thunderwood Resources Inc. announces that a $302,000 phase two diamond drilling program consisting of approximately 16,000 feet of drilling in 15 holes employing two drill rigs has commenced on its 35 percent-owned Owl Creek West property with joint venture partner, Kinross Gold Corporation, as operator.

The Owl Creek West property is located two miles west of Kinross' Hoyle Pond Gold Mine in Hoyle Township, Timmins, Ontario.

A phase one drill program consisting of 5,860 feet of drilling in nine holes was completed on the property in September 1995. This program was successful in that it confirmed the up-dip, near surface continuity and near vertical attitude of gold mineralization previously intersected at generally deeper intervals on the property. The most significant intersections from individual holes from this drilling include 0.53 oz Au/ton over 6.3 feet (visible gold), 0.30 oz over 6.4 feet, 0.23 oz over 4.1 feet (visible gold), 0.17 oz over 6.7 feet and 0.12 oz over 3.8 feet. Other significant intersections from historical drilling on the property include 0.51 oz Au/ton over 26.2 feet. 0.56 oz over 4.9 feet, 0.31 oz over 16.4 feet, 0.33 oz over 32.7 feet and 0.44 oz over 9.8 feet, 0.23 oz over 23.5 feet, 0.19 oz over 21.3 feet and 0.16 oz over 19.7 feet. The purpose of the phase two program will be to increase the resources in the known gold-bearing zones on the property prior to making a decision to proceed with an underground exploration program.

The Owl Creek West property is strategically located along the same gold-bearing horizon that hosts Kinross' new 1060 gold zone and the past-producing Owl Creek open pit, to the east, and Bell Creek Mine to the west. In addition, the property is located on the eastern end of a new gold-bearing system that has been traced for over 6,000 feet from Owl Creek West across Black Hawk Mining Inc.'s Vogel property and onto Pentland Firth's Schumacher property to the west. The numerours ore grade gold intersections already encountered on these three properties strongly suggest that further drilling could lead to the definition of sufficient tons of ore to support a viable mining operation along this trend.

Thunderwood also announces that it has arranged for the private placement of 1,000,000 flow-through common shares from its treasury to raise aggregate proceeds of $650,000, which proceeds will be primarily utilized to fund its exploration programs on its Saskatchewan and Manitoba properties as well as on the Owl Creek West property.

CONTACT: Thunderwood Resource Inc.

Peter McCarter, 416/362-8730