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MINVEN GOLD ANNOUNCES COMPLETION OF RESTRUCTURING, PRIVATE PLACEMENT AND NAME CHANGE TO DAKOTA MINING

 DENVER, Sept. 15 /PRNewswire/ -- MinVen Gold Corp. (AMEX; Toronto; Vancouver: MVG) today announced the completion of its corporate restructuring, the private placement of US $11.0 million, and the change of its name to Dakota Mining Corp. with the new trading symbol of DKT.
 Following this transaction, Dakota Mining has 13,967,662 shares outstanding and effective Monday, Sept. 20, 1993, will trade on the Toronto and American stock exchanges under its new name and symbol. Trading in the company's shares until Sept. 20, 1993 will continue as MinVen Gold (MVG) and these old shares will be subject to the exchange conditions announced on May 21, 1993.
 A letter of transmittal to all shareholders of record on Sept. 15, 1993 with instructions on the procedures necessary to exchange their old MinVen Gold common shares for new Dakota Mining common shares and warrants is being mailed as of this date.
 Alan R. Bell, president of Dakota Mining stated that the completion of the restructuring marks the end of a lengthy, difficult and complex process. However, the result is the achievement of the principal company goal set in 1991, to eliminate the burden of an unmanageable debt load. Bell also expressed his gratitude to shareholders for their support, without which this restructuring could not have been achieved. Bell also expressed his thanks to convertible debt holders, company creditors and new investors. Bell further added, "Dakota Mining Corporation will have no corporate debt, about US $7.0 million in cash after repaying certain indebtedness and ongoing production from its interest in four producing mines. In light of its very large gold reserve and resource position, this should lead to a bright future for the new company with its new name reflecting its major interest in the Black Hills of South Dakota."
 Dakota is a publicly held mining company based in Denver with interests in four operating gold mines in the United States.
 -0- 9/15/93
 /CONTACT: Alan R. Bell or Robert R. Gilmore of Dakota Mining, 303-573-0221/
 (MVG)


CO: MinVen Gold Corp.; Dakota Mining Corp. ST: Colorado IN: MNG SU: RCN

MC -- DV003 -- 2187 09/15/93 11:11 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
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