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CARSON GOLD ACQUIRES AN ADDITIONAL 5,500 HECTARES IN THE KILOMETER 88 DISTRICT OF VENEZUELA FOR JOINT VENTURE WITH VENEZUELAN GOLDFIELDS

 VANCOUVER, British Columbia, March 2 /PRNewswire/ -- Carson Gold Corp. (Vancouver: CQG) and Venezuelan Goldfields Ltd. (Vancouver: VZG) announces that Carson Gold Corp. has entered into an agreement with Stegall Development, S.A. for the acquisition of the rights to the Sor Teresita 1, 2, 3, 4 and 5 concessions and the Bloque B (formerly the Orientales 1, 2, 3, 4, 6 and 7) concession totaling 5,500 hectares (more than 13,500 acres) in the heart of the Kilometer 88 mining district of Venezuela. Sor Teresita 1 through 5 is contiguous to the Bloque C concession while Bloque B is east of the Bloque A concession. Both the alluvial and hard rock exploration and exploitation rights to Bloques A and C for gold and diamonds were granted by the Corporacion Venezolana de Guayana (C.V.G.) directly to a wholly owned Venezuelan subsidiary of Carson Gold Corp. These concessions will be joint ventured by Venezuelan Goldfields Ltd. initially on a 60/40 basis. To earn its 60 percent interest, Venezuelan Goldfields Ltd. will assume all financial obligations to acquire, explore and develop the concessions to production feasibility. Under certain conditions, Venezuelan Goldfields Ltd. is entitled to increase its interest in the concessions to 70 percent.
 Stegall Development, S.A. holds all of the issued share capital of Corporacion Minera Sor Teresita, C.A. which has the exclusive alluvial and hard rock rights to explore and exploit gold and diamonds in the Sor Teresita and Bloque B concessions. The rights for exploration and exploitation were granted to Corporacion Minera Sor Teresita, C.A. by the Corporacion Venezolana de Guayana (C.V.G.). Stegall Development, S.A. is owned by K.I.S. Mining Conglomerate in which the Finalven Group is the controlling and managing partner. The Finalven Group, one of the most influential financial groups in Venezuela, is a major shareholder in Banco Provincial, Banco de Venezuela and Banco Mercantil, the first, third and fourth largest banks in the country.
 The total consideration to be paid to Stegall Development, S.A. is US$3,000,000 payable as follows:
 1) U.S. $600,000 which has already been deposited into a trust account. The trustee will release the funds to Stegall Development, S.A. at completion, which is scheduled for March 31, 1993.
 2) A total of eight U.S. $300,000 payments every three months from the completion date.
 The initial U.S. $600,000 payment was advanced of behalf of Carson Gold as a loan by a third party who will receive a bonus of 16,200 shares of Carson Gold Corp. at a deemed issue price of CDN$3.70 per share.
 Sor Teresita has a history of alluvial and underground gold mining. A report by C. Freeman (1933) states that a very small portion of the main Sor Teresita vein was mined by underground methods beginning in 1932. C. Freeman states in his report that he assayed a 150 ton pile of reject material from the mine and determined that the average grade was more than 1.5 ounces of gold per ton. In addition, the Sor Teresita and the Bloque B concessions contain a number of small open pits that have been worked by alluvial gold miners for years. Carson Gold Corp. and Venezuelan Goldfields Ltd. are scheduled to begin an extensive exploration program on these concessions during the second quarter of this year.
 A finder's fee for the above acquisition is payable in the amount of 100,000 shares of Carson Gold Corp. Both the acquisition and finder's fee are subject to acceptance by the Vancouver Stock Exchange.
 Carson Gold Corp. is in the final stages of completing additional land acquisitions in the Kilometer 88 mining district. In this regard, another party has made a loan to the company in the amount of U.S. $200,000. This party will receive a bonus of 5,400 shares of Carson Gold Corp. at a deemed issue price of CDN$3.70 per share.
 Further to a news release dated Jan. 5, 1993, Carson Gold Corp. announces the completion of its private placement of 500,000 units at a price of $1.25 per unit, each unit consisting of one share and one two-year non-transferable share purchase warrant entitling the placees to purchase one additional share for $1.25 at any time on or before Feb. 25, 1994, and for $1.45 after Feb. 25, 1994, but before Feb. 26, 1995.
 The common shares of Venezuelan Goldfields Ltd. trade on the Vancouver Stock Exchange under the Symbol "VZG" and the common shares of Carson Gold Corp. trade on the Vancouver Stock Exchange under the symbol "CQG."
 /EDITOR'S NOTE: A copy of the Carson Gold Corp./Venezuelan Goldfields Ltd. map of the Kilometer 88 Gold Mining District is available by fax by calling Canada NewsWire, Vancouver at 604-669-7764/
 -0- 3/2/93
 /CONTACT: Joseph M. Kajszo, director, Venezuelan Goldfields, 604-688-7166 or Eric V. Friedland, director, Carson Gold, 604-731-1094/
 (VZG CQG)


CO: Venezuelan Goldfields Ltd.; Carson Gold Corp. ST: British Columbia IN: MNG SU:

EH -- LA035 -- 2150 03/02/93 17:02 EST
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Date:Mar 2, 1993
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