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VICEROY INCREASES EARNINGS IN SECOND QUARTER

 VICEROY INCREASES EARNINGS IN SECOND QUARTER
 VANCOUVER, British Columbia, Oct. 15 /PRNewswire/ -- D. Ross


Fitzpatrick, president, announces that Viceroy Resource Corp. (Toronto, Vancouver: VOY) increased second quarter earnings by 28 percent to $1,549,000 from $1,207,000 earned during the first quarter. As a result, the company earned $2,756,000 or $0.16 per share on sales of $16,991,000 for the six month period ended Sept. 30, 1992. During the same period, operations generated a cash flow of $5,743,000 or $0.32 per share.
 Viceroy, as operator, increased second quarter gold production at their 75 percent-owned Castle Mountain mine by 18 percent to 27,720 ounces from 23,571 ounces during the first quarter. During the first six months of operation, the Castle Mountain mine has produced a total of 51,291 ounces of gold, at an average cash cost of U.S. $206 per ounce. The company continues to maintain low operating costs despite moving a record level of material during the second quarter, which has increased leach-grade stockpile by 22 percent.
 The Castle Mountain mine is a large open-pit, heap-leach operation located in San Bernardino County, Calif., which commenced commercial gold production April 1, 1992 and is expected to produce 100,000 ounces during its first year of operation.
 -0- 10/15/92
 /CONTACT: Gordon Fitzpatrick of Viceroy Resource, 604-688-9780/
 (VOY.) CO: Viceroy Resource Corp. ST: British Columbia IN: MNG SU: ERN


JB-LS -- LA029 -- 0571 10/15/92 15:42 EDT
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Publication:PR Newswire
Date:Oct 15, 1992
Words:250
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