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CORNUCOPIA ACQUIRES 100 PERCENT INTEREST IN NEVADA GOLD DEPOSIT

 VANCOUVER, British Columbia, July 21 /PRNewswire/ -- Cornucopia Resources Ltd. (NASDAQ: CNPGF; Toronto: CNP) announces that it has exercised its option to acquire a 100 percent interest in the Mary- Drinkwater Gold deposit near Silver Peak, Esmeralda County, Nev. A major exploration and definition drilling and ore reserve modeling program estimated to cost U.S. $2.2 million over the next 18 months has been approved by the board of directors. Drilling has now commenced, and it is anticipated that a pre-feasibility study will be completed during 1994.
 Compilation of geological and drilling data available on a portion of the 94 contiguous claims indicates a geological resource of 6,100,000 tons grading 0.059 ounces of gold per ton, including a higher grade area of approximately 1,100,000 tons grading 0.206 ounces of gold per ton at a 0.06 ounces per ton cut-off grade. Current reserve calculations for the small portion of the property for which data exists, coupled with past production of approximately 600,000 ounces of gold, indicate potential for substantial resource expansion.
 Cornucopia currently receives gold production from the Ivanhoe property on the Carlin Trend, Nev., where it is a co-venturer with Newmont Mining Corp. in the exploration and development of the 84,000 acre property. Cornucopia is listed on The Toronto Stock Exchange (CNP) and is quoted on the NASDAQ Small-Cap Issuers Market (CNPGF).
 -0- 7/21/93
 /CONTACT: James M. Carter, VP Finance & Corporate Development of Cornucopia, 604-687-0619/
 (CNPGF)


CO: Cornucopia Resources Ltd. ST: British Columbia, Nevada IN: MNG SU: TNM

JB -- LA035 -- 4251 07/21/93 20:55 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
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