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METALL MINING CORPORATION AWARE OF RUMORS

 TORONTO, July 13 /PRNewswire/ -- Metall Mining Corporation has become aware of rumors in the financial community to the effect that Metall is contemplating transferring its gold assets to a newly created public company.
 In response to these rumors, Metall wishes to confirm that the creation of a new company to hold its gold assets is among the initiatives it has recently been considering. The project is still at a preliminary stage and no decision has yet been made to proceed. Any decision to proceed would be dependent on, among other things, receiving a positive feasibility study for the Troilus (Quebec) gold project, obtaining assurances from the government of the Province of Quebec with respect to financial assistance for infrastructure, and arranging satisfactory project financing for that project. In addition, any decision to proceed would be influenced by the state of the financial markets at the time.
 Metall Mining Corporation is a Canadian-based international mining company with significant interests in copper, zinc, lead, gold, silver and industrial mineral operations and properties in North America, Europe and the Pacific rim.
 -0- 7/13/93
 /CONTACT: H. Douglas Scharf, vice president of finance of Metall Mining, 416-860-3975/


CO: Metall Mining Corporation ST: Ontario IN: MNG SU:

TM-MG -- NY076 -- 1130 07/13/93 18:50 EDT
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Publication:PR Newswire
Date:Jul 13, 1993
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