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VICEROY REPORTS RECORD EARNINGS OF $0.24 PER SHARE FOR SIX-MONTH PERIOD ENDING SEPT. 30, 1993

 VANCOUVER, British Columbia, Nov. 12 /PRNewswire/ -- D. Ross Fitzpatrick, president, announces that Viceroy Resource Corp. earned $5,292,000 on sales of $26,380,000 during the six-month period ended Sept. 30, 1993, which is an increase of 92 percent over the $2,756,000 earned on sales of $16,991,000 during the same period last year. The earnings and cash from operations on a per share basis were $0.24 and $0.47, respectively, for the six-month period, compared to $0.16 and $0.32 for the corresponding period last year. The significant improvement is primarily due to increased gold production and a higher realized gold price of U.S. $404 per ounce.
 The Castle Mountain Mine produced 67,707 ounces of gold, at an average cash cost of U.S. $211 per ounce for the six-month period ended Sept. 30, 1993, which compares favorably to the 51,291 ounces produced at a cash cost of U.S. $206 during the same period last year. The minesite facilities continue to operate very efficiently as 10,700 tons of ore per day, at an average grade of 0.055 ounces gold per ton, were delivered to the leach pad during the second quarter. Commissioning of the supplemental grinding mill is complete and the targeted processing rate of 1,200 tons per day was achieved by the end of September.
 Viceroy is operator and 75 percent owner of the Castle Mountain Gold Mine, a large open-pit, heap-leach operation located in San Bernardino County, Calif.
 -0- 11/12/93
 /CONTACT: J. Gordon Fitzpatrick, 604-688-9780/
 (VOY.)


CO: Viceroy Rescource Corp. ST: British Columbia, California IN: MNG SU: ERN

LM-JB -- LA030 -- 3974 11/12/93 19:04 EST
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Publication:PR Newswire
Date:Nov 12, 1993
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