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Naneco Retains Watts, Griffis, and McOuat to Conduct a Pre-Feasibility Study for the Development to Production of the Jiawula Polymetallic Deposit in Nei Mongol, China.

CALGARY, ALBERTA--(BUSINESS WIRE)--April 8, 1998--Naneco(Alberta Stock Exchange:NNE.) Naneco Minerals Ltd. has retained Watts, Griffis and McOuat ("WGM") to conduct a Pre-Feasibility Study for the development to production of the Jiawula polymetallic deposit in Nei Mongol, China.

WGM will utilize and confirm information from the Feasibility Study completed by the Shenyang Non-Ferrous Metallurgical Design and Research Institute but with emphasis on modern, underground, bulk-tonnage mining methods at a minimum rate of 1000 ton/day. The Shenyang Study concluded that Jiawula had a Geological Reserve of 7,339,400 tons of 5.19 percent Zinc, 124.4 grams of Silver, 3.26 percent Lead, and .38 percent Copper with a Mining Reserve of 5,168,000 tons of 5.70 percent Zinc, 140.8 grams of Silver, 3.38 percent Lead and .46 percent Copper. The WGM report is expected to be complete in May 1998.

Naneco's geologic team believes that there is significant potential at the Jiawula Project, with some 40 known mineral deposits, for a low-cost, high margin mining operation with in excess of 20 million tons.

-0- The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

CONTACT: Naneco Minerals Ltd.

Archie Nesbitt, 403/232-6833

403/232-6463 (FAX)


Naneco Minerals Ltd.

Raju Wani, 403/232-6833

403/232-6463 (FAX)
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Publication:Business Wire
Date:Apr 8, 1998
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