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Blue Ribbon Suriname exploration update.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 22, 1996-- Blue Ribbon Resource (VSE:BLO.) Blue Ribbon Resources Ltd. currently has exploration crews active on three of their six concessions in Suriname, including Toeboeka, Lawa and Oelemari.

On the Toeboeka concession, soil sampling crews have now collected 1,500 of a planned 1,700 soil samples from a grid area measuring 3 by 7 km. Preliminary geochemical results for soils include gold values as high as 1.7 g/t gold. Collectively, a large number of samples with elevated gold values define a circular feature that measures 1.6 km in diameter with elevated gold values concentrated along the margin of the feature. Company geologists presently interpret the feature to represent gold mineralization along the margin of a felsic intrusion. In addition, many other elevated gold values define several northeast linear trends.

On the 20,000 hectare Oelemari concession reconnaissance crews have initiated pan concentrate sampling as the first step toward on overall evaluation, and are already generating very encouraging results. Visible gold has been identified in 20 pan concentrate samples representing six separate drainage basins in the northwest portion of the concession. This appears to be significant new development because gold had not been previously known to occur here. The Company acquired the concession earlier this year primarily on the basis of the geology which included a large area of prospective volcanic rocks. The sampling crew is now expanding their pan concentrate sampling efforts into the central portion of the concession. The anomalous areas already identified will be the subject of grid-based soil sampling in the near future.

Soil sampling crews are also active on the 18,200 hectare Lawa concession, located in the northern Benzdorp area. To date the crews have collected more than 300 soil samples of the planned 2,500 samples which will target the volcanic belt that transects the concession. The crews will also use pan concentrate sampling to test the concession for diamond indicator minerals. Alluvial diamonds are reported from Assiei Creek which crosses the southeast corner of the concession. Geochemical results are pending. Historically, more than 500,000 oz. of placer gold have been produced from the Benzdorp area. Canarc and Golden Star Resources also have large land positions in the area and are actively exploring. Golden Star recently reported encouraging results from their Antino prospect which lends technical merit to the lode potential of the entire Benzdorp area. The volcanic belt that is generally considered to have the highest potential runs through the entire Benzdorp area including our Lawa concession.

Blue Ribbon is a natural resource company that has been exploring a series of Suriname concessions since 1994. The current programs will be used to target areas for resource definition programs in 1997. -0-

NOTE TO EDITORS: The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy of the content of this news release.

CONTACT: Martyn Element & Associates

800/505-5655, 604/687-6820

604/687-6328 (FAX)

INTERNET: http://www.info-mine.com/blue-ribbon

E-MAIL: element@info-mine.com
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Publication:Business Wire
Date:Nov 22, 1996
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