Thermal Exploration Acquires Interest in Claims in Quebec, Canada Near Recent Gold Discovery.

CALGARY, Alberta--(BUSINESS WIRE)--Jan. 17, 1995--THERMAL EXPLORATION (ASE:THR) (OTC BB:TECC) Thermal Exploration Company announces that, subject to all regulatory approvals, it has optioned a gold property from Orient Resources Inc. in Souart and Barry Townships, Quebec, near the recent Murgor Resources Inc. gold discovery. Under the terms of the Letter of Intent, Thermal will issue to Orient 100,000 common treasury shares on signing a definitive agreement, pay Orient $15,000 cash six months from signing, $50,000 in shares or cash on each anniversary date for three years, and spend $400,000 on the property over a four-year period to earn a 60% interest. (All dollar amounts are in Canadian Funds)

The property consists of 30 claims located approximately 3 km southwest of the Murgor gold discovery. It contains shear zones and geophysical targets similar to those associated with the Murgor gold discovery. Thermal anticipates commencing an initial exploration program in Spring, 1995. Orient will be the Operator during the earn-in period.

Thermal Exploration is a minerals exploration and development company which, in equal partnership with Western Copper Holdings Limited of Vancouver, B.C., intends to bring into production the Carmacks Copper Oxide Project near Carmacks, Yukon Territory, Canada during 1996. It also has mineral claims in the Lac de Gras area of the Northwest Territories, the Kirkland Lake area of Ontario and the State of Nevada, U.S.A.

CONTACT: F. Dale Corman, 916/265-0653