Masuparia Gold Proceeds With Bluechip.com Acquisition; Deal to Acquire Online Brokerage Firm Subject to Regulatory and Shareholder Approval.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--May 31, 2000

Masuparia Gold Corporation (CDNX:MPG) announced today it has completed its due diligence and is proceeding with the acquisition, announced on Feb. 24, 2000, of 100% of Blue Chip Online Ltd. ("Blue Chip"), a private Bahamas-based financial services company offering secure, reliable online trading and clearing services to international financial institutions through its fully functional www.bluechiponline.com website.

The system commenced commercial operations on Oct. 1, 1999 and is currently used by six dealers with a total of 47 clients. The acquisition is subject to regulatory and shareholder approval.

In conjunction with the acquisition, the Company also announced the following:

1. IPO Capital Corp. ("IPO") has undertaken to act as the Company's

sponsor in its application for a Change of Business with the

Canadian Venture Exchange (the "Exchange"). The terms of the

Company's Sponsorship Agreement with IPO include the Company

paying the Sponsor the sum of $ 25,000.00 plus expenses.

2. The Change of Business application will seek regulatory approval

for the acquisition of 100% of the outstanding shares of Blue

Chip. The consideration for the acquisition will include the

issuance by the Company to the shareholders of Blue Chip, 12

million of its common shares, and the assumption of the obligation

of 2 million share purchase warrants issued by Blue Chip. These

shares and warrants will be issued by the Company within ten days

of approval of this transaction by the Exchange.

Business of Blue Chip

Blue Chip was incorporated on Feb. 23, 1999 in the Territory of the British Virgin Islands by its founder, Richard Czerlau.

Blue Chip is an integrated financial services company that offers secure, reliable online trading and clearing services for offshore financial institutions.

Online trading now accounts for one-third of all trades on the major North American stock exchanges. Multi-national firms who have long relied solely on a national force of brokers for distribution, are now offering online trading. With investors becoming more demanding, they are insisting on taking a more active role in the management of their investments, and are looking for lower cost solutions than what they were getting from their traditional brokerage relationships. Online trading is one solution that is proving to be very popular.

To capitalize on this opportunity, Blue Chip has engineered a unique system to handle online trades from a multitude of financial services firms around the world. Blue Chip developed their system to act as a "back-office" platform for small financial institutions, brokerage firms and financial planners. These firms understand the need to offer online services, but may not have the capital, personnel or expertise required to develop an online trading site and manage the ongoing maintenance. Blue Chip offers these firms a customized website and the online trading platform to execute and clear their trades.

Blue Chip has commenced operations by offering this platform to financial institutions in various offshore jurisdictions. Subject to regulatory approvals, Canada will be Blue Chip's next expansion area where it will offer similar back-office services (online trading services) to small brokerage firms.

Blue Chip derives revenues from a share of the fees earned by its clients on asset management and from cash transfers generated from their client base.

Blue Chip operates in the Bahamas. Blue Chip chose this location because of available infrastructure, international recognition, and no direct taxes on income, profits, capital gains, or interest from operations. Another benefit is the flexible legislation, allowing Blue Chip freedom to offer the most comprehensive range of services currently available anywhere offshore.

Summary of Financial Operations

As Blue Chip is a start-up company, it has limited financial history. Since its incorporation on Feb. 23, 1999 to March 31, 2000 Blue Chip had revenue of US$5,770 and had incurred US$597,436 in the development of the business. At March 31, 2000 Blue Chip has a working capital deficiency of US$300,205. In order to execute its business plan and to provide adequate working capital, Blue Chip requires additional funding in the amount of US$650,000. The Company intends to provide the funds to Blue Chip from cash on hand ($500,000), proceeds from the previously announced private placement ($300,000) and proceeds from the issuance of existing warrants ($684,000).

The Company has agreed to issue 12,000,000 common shares in its capital to acquire all of the issued and outstanding common shares of Blue Chip. All of the12,000,000 common shares will be subject to escrow, to be released over a period of six years. The holders of the escrowed shares will be as follows:

                                                        No. of Escrow
                                  % of Shares            Shares to be
                                    of Blue             Issued by the
Name                               Chip Held               Company
----                               -----------         --------------
Richard Czerlau                       50%                  6,000,000
Burlington, Ontario

Joe Czerlau                           1.66%                200,000
Burlington, Ontario

Butternut Capital Limited (1)         10%                  1,200,000
100% owned by Pilar Picado of
 San Jose, Costa Rica

International Shareholders Corp. (2)  10%                  1,200,000
100% owned by Floria Vargas of
 San Jose, Costa Rica

Corporate Solutions Limited  (1)      10%                  1,200,000
100% owned by Alfonso Jimenez of
 San Jose, Costa Rica

Greensted Equities Ltd. (1)           10%                  1,200,000
100% owned by Maria Rodriguez of
 San Jose, Costa Rica

Epiros Associates Corporation (2)     4.166%               500,000
100% owned by Maria Knowles of
 the British Virgin Islands

Lighthouse Capital S.A. (1)           4.166%               500,000
100% owned by Jean M. Guillemard
 of San Jose, Costa Rica

    (1) Private corporations incorporated under the jurisdiction of
        Costa Rica.

    (2) Private corporations incorporated under the jurisdiction of
        the British Virgin Islands.

3. In conjunction with the proposed change of business, the Company

also proposes to change its name to Blue Chip Online Inc. to more

accurately reflect the nature of its new business. The name change

is also subject to regulatory and shareholder approval.

4. The Company has entered into two contracts for investor relations

services, as follows:

(a) By letter agreement dated April 27, 2000, the Company engaged

Barry Kaplan Associates of Fair Haven, New Jersey to provide

public relations, investor relations and assistance in

communicating with the investment community on behalf of the

Company. The agreement is for an initial period of one year,

at a cost of US$5,000 per month, plus expenses; and

(b) By letter agreement dated April 27, 2000, the Company engaged

Brokerwise Communications Inc., of Halifax, Nova Scotia to

provide investor relations and corporate communications

services on behalf of the Company. The initial term of the

agreement is one year, although the agreement may be

terminated by either party at any time during the year on 30

days notice. The agreement calls for the Company to pay a

monthly fee of $5,000 per month, plus expenses.

5. The Company also announces the resignation of three of its

directors, Messrs. Jamie Macintosh, Neil Raymond and Mike Magrum.

Richard Walker of Saskatoon, Saskatchewan joins the Board and has

been appointed acting president until the acquisition closes. At

that time it is intended that new members will join the Board,

namely Richard Czerlau and Bruce Ramsay, the current directors of

Blue Chip.

Czerlau is an international offshore consultant, author of Tax Haven Roadmap, and a public speaker. He is a leading expert on international financial centers and offshore banking. For many years Richard has traveled the world speaking with and on behalf of leading experts in the fields of international law, banking, and investment. It is intended that Czerlau will assume the presidency of the Company upon completion of the transaction.

Ramsey is the founder and President of Ram Technologies, formed in February 1991 to provide leading edge software solutions for the financial industry. Ramsey has also been active in the financial planning industry, serving as a founding partner of one of Canada's leading financial planning firms. Ram Technologies has been successful in many Canadian and International financial software implementations. Ramsey will serve as a director of the Company upon completion of the transaction.

6. An aggregate of 295,000 shares have been granted as incentive

stock options to the principals of Blue Chip as part of the share

purchase agreement covering this transaction. An additional 50,000

shares have been granted as incentive stock options to a director

of the Company. The options have an exercise price of $0.36 per

share, are exercisable over a five-year period expiring on May 30,

2005, and are subject to the requirements of the Canadian Venture

Exchange.

As previously announced, a finder's fee in the form of the Company's shares will apply to this acquisition in keeping with CDNX policies.

ON BEHALF OF THE BOARD:

"Richard Walker", President & Director

For more information contact: Brokerwise Communications Inc. Call Toll Free 877/434-4433 or 902/490-4447

Completion of this transaction is subject to a number of conditions, including but not limited to Exchange acceptance and disinterested shareholder approval. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular and the Filing Statement to be prepared in connection with the transaction, any information released or received with respect to the

Change of business may not be accurate or complete and should not be relied upon. Trading in the securities of Masuparia Gold Corporation should be considered highly speculative.

IPOCapital Corp, subject to completion of satisfactory due diligence, has agreed to act as sponsor to Masuparia Gold Corporation in connection with the transaction. An agreement to sponsor should not be construed as any assurance with respect to the merits of the transaction or the likelihood of completion.

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.