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ITL CAPITAL CORP. & RILEY RESOURCES LTD. DIAMOND EXPLORATION CONTINUES

 VANCOUVER, British Columbia, Oct. 19 /PRNewswire/ -- ITL Capital Corp. (Vancouver: ICL) and Riley Resources Ltd. (Vancouver: RYR) are pleased to announce that preliminary results from the sampling and aerial recognizance of their joint property in the Northwest Territories yielded at least six interesting new targets for further exploration. Five are combined geophysical and geochemical anomalies, the sixth is a major geophysical feature on the northeastern boundary. All merit further work.
 Three of the five "combined" targets run in a northwest, southeast trend along the eastern boundary, the last two combined targets are in mid property. The targets were picked up from the analysis of extensive property sampling. To date approximately 90 percent of the 205 initial samples taken have been processed, the balance should be completed within a month.
 Geochemical and Geophysical Results Coincide:
 For the five areas that have good combined geophysical and geochemical targets, extra work has been laid on. Four of the five areas showing positive geochemical anomalous values (pyropes, chrome diopsides, chromites, and ilminites) have been resampled on a more rigorous basis, the last one will be completed shortly. This will help refine the ultimate targets from the geochemical perspective. In addition, geophysical analysis refinements have been made in order to better define the geophysical targets. Refinements to date continue to show good coincidence in the geochemical and geophysical targets.
 Results of the geochemical resampling should be available within the month. It is the intention of the companies to assess these results in combination with the improved geophysical data. This work will proceed through the necessary refinement to the development of combined drilling targets as rapidly as possible.
 -0- 10/19/93
 /CONTACT: Clark Gilmour, director, 604-687-3376/
 (ICL. RYR.)


CO: ITL Capital Corp.; Riley Resources Ltd. ST: British Columbia IN: MNG SU:

JB -- LA030 -- 4043 10/19/93 14:01 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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