Global-Pacific Minerals and Southwestern Gold: Approval Received for Agreement with Brigade 217 of the Northwest Bureau of the China National Nuclear Corporation.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 8, 1998-- Global-Pacific (VSE:GPJ.) (TSE:GPJ.) Southwestern Gold Corporation (SWG-T) and Global-Pacific Minerals Inc.(GPJ-V,T) are pleased to announce that the Agreement entered into with Brigade 217 of the Northwest Bureau of the China National Nuclear Corporation has received approval from the Nuclear Corporation's head office in Beijing. This approval is a major step towards forming a Sino-Foreign Joint Venture with Brigade 217.

Several other approvals are required to finalize the Agreement, however, with the head office of China National Nuclear Corporation in full support of the project, no delays are foreseen.

The Brigade 217 exploration concession forms a key portion of the Haoya Project, which is located about 650 kilometres northwest of Beijing within the Autonomous Region of Inner Mongolia, China. The entire project area is accessible by four-wheel drive on paved and gravel roads. Logistics for the project are excellent.

Under the terms of the Agreement with Brigade 217, Southwestern and Global can earn an 80 percent interest in the concession by spending US$ 2.5 million on exploration and making cash payments of US$ 1.125 million over a three year period from the date all government approvals are received. Once the Companies have earned an 80 percent interest, ownership in the joint venture company will be Southwestern 56 percent, Global 24 percent, and Brigade 217 20 percent.

Further contributions to exploration will be on a pro-rata basis. If Brigade 217 chooses not to contribute to future exploration they can only be diluted to a 10 percent interest and will be carried from that point. Southwestern/Global have the exclusive option to purchase a 5 percent interest from Brigade 217 at any time for a price to be negotiated.

Brigade 217 has been conducting exploration work on the Property since 1992 and completed 56 trenches and collected over 2,000 rock chip samples. Results of this work have defined an east-west trending gold mineralized zone with an exposed strike length of 4,800 metres and a width which varies from 50 metres to 140 metres. The host rocks are carbonaceous slates and gold is associated with both pyrite alteration and quartz stringers.

An exploration decline completed in 1993 in the eastern part of the zone tested the depth continuity of mineralization down to 40 metres vertical. The decline is 109 metres long and the entire length is mineralized with no significant change in gold grades from surface to 40 metres vertical. The style of mineralization and host rocks are similar to the Sukoi Log Deposit located in Russia.

Southwestern and Global are presently collecting two bulk samples of both oxide and sulphide material to be shipped to Canada for metallurgical test work. Based on the extensive exploration work completed by Brigade 217, potential of the Property to host a large tonnage low grade open pittable gold deposit is excellent. The Companies plan a major drilling program to define the deposit.

Southwestern Gold Corporation presently has over 20 joint ventures with companies including Newmont, Phelps Dodge, RTZ, Pan American Silver, Cominco, Teck Corporation, Paramount Ventures, Southern Peru Copper, Minorco (Anglogold), Cambior and Cedimin.

Global-Pacific is a gold-base metal mining company engaged in mining exploration and development in the People's Republic of China. The Company currently operates the Hucun copper/gold mine and is developing the Qian Chang iron-gold-copper deposit, both of which are located in Anhui Province, China.

Daniel G. Innes, Director, Global-Pacific Minerals Inc.

The Toronto and Vancouver Stock Exchanges have not reviewed and are not responsible for the adequacy or accuracy of this release.