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WESTERN AND PACIFIC RESOURCES CORP. RELEASES UPDATE

 VANCOUVER, British Columbia, Sept. 24 /PRNewswire/ -- The Board of Directors of Western and Pacific Resources Corp. (NASDAQ: WNPRF) ("Western") have been informed by Stephen J. Roth, a director of Western who is in charge of its operations in Butte, Mont., and is chairman and chief executive officer of Metanetix Marketing Corp. ("MMC"), that MMC is in the final stages of negotiation with a major North American distributor of specialty agricultural chemicals and fertilizers for the joint development by MMC and such distributor of a large range of chemical products for the agricultural industry. MMC is owned 50 percent by Kelley Resource Recovery Corp. ("Kelley"), a wholly owned subsidiary of Western, and 50 percent by Metanetix Corp. ("Metanetix"), a 75 percent subsidiary of Hariston Corp. ("Hariston").
 Such specialty agricultural chemicals will be produced by Kelley from its facility at the Kelley Mine site in Butte, where it has commenced its metals extraction and processing operation. This facility is being built and operated by Metanetix and Kelley under the terms of a Joint Venture Agreement. Metanetix holds the world-wide rights to the proprietary and patented Metanetix technology for the selective and individual extraction of metals from soil, sludge and water. Western, through its Montana-based subsidiary companies, owns over 8,000 acres of former Anaconda mines, containing approximately 3,000 miles of underground mine workings interconnected with a water system containing in excess of 30 billion gallons of mineral-laden water which is being continually increased with a natural inflow of over 3,000 gallons per minute ("GPM").
 Roth, who is also president and chief executive officer of Kelley, further advised the board of Western that this facility is the first commercial application of the Metanetix Technology. The mine water available in Butte contains substantial commercial quantities of aluminum, zinc, iron, copper, calcium, magnesium and manganese, as well as lesser, but still commercially viable, quantities of approximately 25 other metals and rare earths. The Kelley mine is situated on an EPA Superfund site, and one of the key aspects of this operation is that the removal of the metals from the mine water by this process results in converting the currently toxic mine water into clean potable water, suitable for sale for municipal and agricultural use.
 The plant is currently extracting aluminum, zinc, iron, calcium, magnesium and manganese, and by mid-1994 will also extract rare earths and other metals and will have completed its pure water processing facility. These metals are extracted in virtually pure hydroxide form and are processed as metal chelate and other chemical products for the agricultural and other specialty chemical industries. Kelley intends to increase capacity of the current 250 GPM plant to 2,150 GPM by June 1994 and, pending regulatory approvals, to over 8,000 GPM by the end of 1995. Estimations of the market value of the metal products which can be produced from the Kelley Mine water is $30 per 1,000 gallons of water.
 MMC is currently developing further agricultural markets for these products as well as markets in the pharmaceutical rubber, paint and other specialty industries. Discussions and negotiations are also underway with several other specialty chemical distributors, each interested in and capable of purchasing from MMC most of the entire production of the planned 2,150 GPM facility.
 Pending anticipated plant expansion and successful development and penetration of identified markets for identified products, joint venture gross revenues are anticipated to be in excess of $60 million for fiscal 1994, and $145 million for fiscal 1995, with joint venture pre-tax profit of $26 million and $88 million respectively. Western's allocation of these joint venture profits is 50 percent.
 -0- 9/24/93
 /CONTACT: Allan Ferguson, president, Western and Pacific Resources Corp., 604-682-4488/
 (WNPRF)


CO: Western and Pacific Resources Corp.; Metanetix Marketing Corp. ST: British Columbia IN: MNG ENV SU: JVN

JB-LS -- LA011 -- 5502 09/24/93 15:10 EDT
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Publication:PR Newswire
Date:Sep 24, 1993
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