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R.D.G. Minerals Inc. reserves confirmed at over $625 million USD.

TORONTO--(BUSINESS WIRE)--Nov. 26, 1996-- Anthony Papa, president and CEO, RDG MINERALS INC. (RDGI), announced today the talc reserves at the Rainbow Mine Site, Baker California, were sampled by the United States Department of Interior, Bureau of Mines and that summary report has been released to RDG MINERALS INC.

The report samples showed no asbestos contained in the talc reserves. Additionally, the brightness specifications exceeded 95 where specifications are at a 90 minimum.

Such brightness and asbestos-free talc reserves are proving to be of the highest quality in the talc industry.

R.D.G. Minerals Inc. has proven reserves of 12,500,000 tons, which represents an inground reserve value of $625 million USD based oil inground reserve value of $50 per ton.

Papa stated, "These reports continue to reinforce our confidence in the quality and environmental soundness of our investment in the Rainbow Mine Talc reserves."

R.D.G. Minerals has signed a contract for delivery of 50 tons of pharmaceutical-grade talc per week at a price of $1,250 U.S. per ton for one year with Mint Energy Corp., New York, New York. Deliveries are FOB, Baker, California. The contract was dated Nov. 24, 1996, for deliveries to begin Jan. 1, 1997.

Final sample tests are being done on the Bruce's Inc., contract for bulk talc deliveries of 200 tons per day. The contract calls for a price of $116 U.S. per ton. This contract is valued at $8,398,400 U.S.D.

RDG Minerals Inc. is listed on the Canadian Dealing Network. There are approximately 18,000,000 shares outstanding.

CONTACT: RDG MINERALS INC.

Alex Kennedy, Investor Relations: 905/602-6365;

Fax 905/602-6370

Tony Papa, President: (Montreal) 514/288-8883;

(Toronto) 905/602-6365

Carl Yeatman (RDG Texas): 713/446-7122;

Fax 713/446-7711
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Publication:Business Wire
Date:Nov 26, 1996
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