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VENEZUELAN GOLDFIELDS LTD. COMMENTS ON PRESS RELEASE

 VANCOUVER, British Columbia, March 2 /PRNewswire/ -- Venezuelan Goldfields Ltd. (Vancouver: VZG) ("Vengold") has become aware of the International Kengate Ventures Inc. ("IKV") press release dated March 2, 1993, and strongly and completely disputes IKV's position that Minex, C.A. holds any title to the Oro Uno Concession in Venezuela. Vengold is also of the opinion that the IKV press release is incomplete, misleading and incorrect in a number of material respects.
 Vengold is carefully reviewing the IKV press release and will issue a detailed response and update regarding litigation on the Oro Uno Concession as soon as possible.
 The common shares of Venezuelan Goldfields Ltd. trade on the Vancouver Stock Exchange (symbol: VZG).
 -0- 3/2/93
 /CONTACT: Joseph M. Kajszo, director of Venezuelan Goldfields, 604-688-7166/
 (VZG.)


CO: Venezuelan Goldfields Ltd. ST: British Columbia IN: MNG SU:

BP -- LA030 -- 2102 03/02/93 15:56 EST
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Publication:PR Newswire
Date:Mar 2, 1993
Words:146
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