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H-L CORP. ANNOUNCES THE COMPLETION IN ESCROW OF THE ACQUISITION OF BALL RESOURCE SERVICES LTD.

RICHMOND HILL, Ontario--(BUSINESS WIRE)--March 7, 1996--H-L CORP. (NASDAQ LEVEL "3" & THE CANADIAN DEALING NETWORK: HHHL) ("the Company") is pleased to announce the completion in escrow of the acquisition of Ball Resource Services Ltd., a private British Columbia corporation which held title to two Claim Blocks totalling 1,047 hectares in Northeast Kalimantan, Indonesia.

The release from escrow is conditional on the delivery of 1) signed off share certificates 2) signed closing documents by Mr. Ball and 3) all corporate records of the corporation.

These two claim Blocks are 10 kilometers north of the Bre-X Busang Gold Discovery, and are actually within the original Bre-X Contract of Work. A contract of work from the government for these two properties should be available within four to six months, however ongoing geological surface sampling and trenching can now begin subject to an S.I.P.P. Bond application. The $100,000.00 (U.S.) Bond is insurance against environmental damage and is refunded with interest when the contract of work is granted.

Airborne geophysics have now been completed over the Company's Puttuaalu Brook Project in Voisey Bay, Labrador, 90 kilometers northwest of the Diamond Fields' Nickel, Copper, Cobalt Discovery. A geophysical report identifies three EM anomalies, one of which appears to be flat lying over an area of 1000 metres by 100 metres. Follow-up ground geophysics are scheduled to begin in April of this year, or as soon as weather conditions permit.

CONTACT: INVESTOR RELATIONS AT 905/508-0216
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Publication:Business Wire
Date:Mar 7, 1996
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