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INTERNATIONAL SKYLINE GOLD UPDATE

 VANCOUVER, British Columbia, Nov. 29 /PRNewswire/ -- International Skyline Gold Corp. reported that negotiations for the acquisition of a significant interest in an operating Canadian gold mine were terminated last week. The acquisition had a purchase consideration in excess of $70 million and would have secured Skyline's position among Canadian gold producers. Clifford A. Grandison, president and chief executive officer regrets that this initiative was not successfully concluded but the acquisition of an income producing property continues to be a high priority with the company.
 The company also reports that the Johnny Mountain mine is in the final stages of a seasonal shutdown. The mill treated 24,000 tons of ore and produced approximately 7,500 ounces of gold. Operating costs are not yet available but it is expected that they will be within budget. Revenues are below forecasts due to lower-than-anticipated grades and total production.
 Skyline also reports the exploration of the Bronson copper/gold porphyry was concluded for the season with a total of seven holes being drilled in two fences. The drill core is being sent for assay with results expected in two to three weeks.
 The company will prepare a new mining plan for the Johnny Mountain mine when the mine finally closes for the season and is preparing an exploration program for both Johnny Mountain and its Aztec property in Mexico.
 The company will now focus its exploration activities on the Aztec property in Mexico. A trenching, sampling and assaying program will commence immediately on the silver rich dyke zone in the copper, lead, zinc and silver Breccia body previously discovered. This zone was found to contain 72.0 ounces of silver per ton in earlier sampling and assaying.
 This program will also include road building and drill site preparation for an exploration drilling program planned for February.
 The Aztec group have continued a regional exploration program around the initial discovery area. A skarn zone was discovered in the area of interest covered by the Aztec agreement. This zone has been sampled and assayed for gold, silver, copper, lead and zinc. Results of these assays may result in additional claims being staked and included in the Aztec option.
 -0- 11/29/93
 /CONTACT: Clifford A. Grandison, president and CEO, 604-683-6865/
 (ISC.)


CO: International Skyline Gold Corp. ST: British Columbia IN: MNG SU:

EH -- LA036 -- 8420 11/29/93 16:13 EST
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Publication:PR Newswire
Date:Nov 29, 1993
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