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REA GOLD CORP. SOUTH COMSTOCK JOINT VENTURE PROCEEDING AHEAD OF SCHEDULE

 VANCOUVER, British Columbia, July 13 /PRNewswire/ -- Development of Phase 1 of the South Comstock Joint Venture is proceeding ahead of schedule. Preproduction pit stripping is now two weeks in advance of plan with work in progress in both north and south starter pits. A revised waste management scheme recently implemented is expected to further reduce operating costs to less than U.S. $220 per ounce equivalent.
 Construction of crushing and heap leach facilities adjacent to the Oliver Hill plant are also on schedule and expected to be well within budget. Trucking to the new heaps will begin on Sept. 7, as planned, with gold production anticipated by the third week in September.
 Phase 1 anticipates processing up to 400,000 tons of ore grading 0.07 oz/ton to yield between 16,000 and 18,000 ounces gold and more than 100,000 ounces of silver during a seven-month heap cycle.
 In the meantime, work continues on Phase 2 in anticipation of a late 1994 startup. Results of the RC drilling program carried out earlier this year are being incorporated into a new mine model which will form the basis for an operating plan to produce more than 45,000 ounces of gold and at least 180,000 ounces of silver annually at a cost of just more than U.S. $200 per ounce equivalent.
 Rea Mining Corp. (Vancouver, Toronto: REO), the joint venture operator, is carrying out a study of other precious metal deposits in the South Comstock area with a view to extending reserves beyond the 3,000,000 tons grading 0.05 Oz/ton now blocked out.
 The South Comstock Joint Venture is a 50/50 joint venture between BMR Gold Corp. and Rea Gold Corp. The project is located in two miles south of Virginia City, Nev., and approximately 30 miles southeast of Reno, Nev.
 -0- 7/13/93
 /CONTACT: W.J. Hogan, president and CEO, or R.A. Shier, treasurer and CFO, of Rea Gold, 604-684-7527/
 (REO.)


CO: Rea Gold Corp.; Rea Minng Corp; South Comstock Joint Venture;
 BMR Gold Corp. ST: British Columbia, Nevada IN: MNG SU: JVN


BP-MF -- LA004 -- 0854 07/13/93 11:31 EDT
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Publication:PR Newswire
Date:Jul 13, 1993
Words:363
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