TVX Gold announces successful results at its wholly owned Kasperske Hory Property in the Czech Republic.

TORONTO, Ontario--(BUSINESS WIRE)--Jan. 12, 1996--TVX GOLD INC.(TSE, NYSE, ME: TVX ) -- TVX Gold Inc. stated today that its previously announced 1995 exploration program at its wholly owned Kasperske Hory property in the Czech Republic, has been successful in increasing its proven, probable and possible reserves to 3,360,000 tonnes, at a grade of 9.27grams/tonne or approximately 1 million ounces.

These reserves are included in the Golden Creek block, over a strike length of 1000 metres up to a depth of 350 metres. Approximately 15,000 metres of diamond drilling and 1.5 kilometres of drifting were conducted within this area. Reserves were estimated on 25 to 50 metre sections. Based on this successful exploration program, TVX anticipates commencing a pre-feasibility study in 1996 while continuing exploration work.

The Kasperske Hory project is located 160 kilometres southwest of Prague near the town of Kasperske Hory, in the Czech Republic, about 20 kilometres from the border of Germany and situated in the Sumava Mountain Range. The orebody is within an environmental buffer zone adjacent to the northern boundary of the Sumava National Park. Mining on the property has taken place since ancient times.

The areas that host the gold mineralization on the property are underlain mainly by west northwesterly striking paragneisses which exhibit moderate dips to the north and northeast. The gold mineralization is largely confined to quartz veins and lenses with subordinate values present in certain sections of the silicified wall rock. Mineralization width ranges between several decimetres to several metres, and the minimum true width taken into account for reserve estimates was 1.5 metres.

Individual gold-quartz zones can be traced up to several hundred metres along strike and the total known strike length of the potentially mineralized structures included within the property boundaries is approximately 20 kilometres. Sparse diamond drilling has had positive results along the entire length of the structure.

CONTACT: TVX GOLD INC.

Ed Baer, 416/941-0119