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CYCLONE CAPITAL ANNOUNCES MAJOR NEW DISCOVERY

 VANCOUVER, British Columbia, Aug. 11 /PRNewswire/ -- Cyclone Capital Corp. (Vancouver: CYA.) has expanded its Arctic diamond exploration to Bathurst Island where it currently holds a 100 percent interest in five claim groups totaling 228 units within a 9-by-5 mile region. Cominco Ltd. has the right to back-in for a 50 percent interest by contributing exploration totaling 200 percent of Cyclone's expenditures.
 The company originally acquired a 100 percent option on the Oka claim group located on Bathurst Island from Cominco, together with their diamond properties on Somerset Island.
 On Somerset Island Cyclone, in conjunction with others, is conducting a $1.6 million exploration program to evaluate widespread kimberlite diatremes, with microdiamonds previously reported. The program consists of extensive sampling, mapping, geophysics and diamond drilling with initial results expected shortly.
 An aeromagnetic survey commissioned by Cyclone earlier this summer outlined several magnetic anomalies in conjunction with the Oka, on Bathurst Island, including a very strong "bulls eye" anomaly located approximately two miles to the southwest.
 Recent ground surveys have located the source of this major anomaly. Although the total extent has not been determined, this appears to be a large diatreme in excess of 2,000 feet in diameter centering several additional satellite pipes and dikes. Surface fragments show it to be olivine rich, fragmental in part, likely representing a lamproitic- kimberlite diatreme. Field identification suggests a lamproitic diatreme with olivine, both fresh and altered, reaching up to 20 percent of the rock. It is believed that this would be the first major lamproitic diatreme reported in the northern Northwest Territories.
 The best known lamproite host for diamonds is the Argyle mine in Australia, the most prolific diamond producer in the world, producing in excess of 30 million carats per year. In the Ellendale lamproites of Australia, olivine-rich varieties tend to be richest in diamonds.
 Surface samples have been taken from the main Tali diatreme as well as several of the satellite bodies and are currently being sent for analysis. Previous sampling of the Oka intrusive revealed several indicator minerals, including kimberlitic garnets. Additional surface sampling together with alluvial testing is proposed to determine the extent and mineral content of these newly discovered diatremes.
 -0- 8/11/93
 /CONTACT: Ronald H.D. Philp, president and director of Cyclone Capital, 604-688-1508/
 (CYA.)


CO: Cyclone Capital Corp. ST: British Columbia IN: MNG SU:

MF-JB -- LA036 -- 1907 08/11/93 18:04 EDT
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Date:Aug 11, 1993
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