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YELLOW POINT MINING CORP. RECEIVES GEOLOGICAL REPORT ON KASPERSKE HORY GOLD DEPOSIT IN CZECHOSLOVAKIA

 YELLOW POINT MINING CORP. RECEIVES GEOLOGICAL REPORT ON
 KASPERSKE HORY GOLD DEPOSIT IN CZECHOSLOVAKIA
 VANCOUVER, British Columbia, July 27 /PRNewswire/ -- The following is being issued by Yellow Point Mining Corp. (Vancouver: YPT):
 -- GEOLOGICAL REPORT RECEIVED ON KASPERSKE HORY GOLD.
 -- PROJECT DEVELOPING INTO A "WORLD CLASS" DEPOSIT.
 -- 10,265,959 TONS DRILL INDICATED AND INFERRED, WEIGHTED AVERAGE
 GRADE 0.223 OZ. GOLD PER TON (2,291,548 OUNCES OF GOLD).
 -- 4,930,428 TONS POTENTIAL WITHIN THE DRILLED AREA, WEIGHTED
 AVERAGE GRADE 0.233 OZ. GOLD PER TON (1,147,391 OUNCES OF
 GOLD).
 -- OPEN-ENDED ALONG STRIKE EAST AND WEST, AND TO DEPTHS BEYOND
 THE DRILLED AREA.
 -- MINING WIDTHS VARY BETWEEN 6.56 FEET AND 111.55 FEET,
 AVERAGING 8.62 FEET.
 -- POTENTIAL RESERVES EXIST ON PROPERTY IN OTHER ZONES WHERE
 DIAMOND DRILLING YIELDED EXCELLENT AND ABOVE AVERAGE RESULTS.
 -- OPEN PITTABLE RESERVE POTENTIAL EXISTS, (REQUIRES FURTHER
 DIAMOND DRILLING TO FIRM UP).
 -- PRELIMINARY METALLURGICAL TESTS INDICATE A CLEAN GOLD WITH
 INSIGNIFICANT IMPURITIES AND RECOVERIES OF 88 PERCENT TO
 91 PERCENT OF THE GOLD IN 24 HOURS.
 -- OPERATION COSTS ESTIMATED AT 40 PERCENT TO 60 PERCENT OF
 COMPARABLE CANADIAN COSTS.
 -- PROPERTY DESIGNATED A "PRODUCTION AREA" BY THE CZECH
 GOVERNMENT.
 Yellow Point Mining Corp., has received a comprehensive independent geological report from Min-Ex Resource Consultants on the Kasperske Hory gold deposit. The property is located in southwestern Czechoslovakia and encompasses some 21.2 square kilometers (8.19 square miles).
 More than $2,800,000 Cdn. expended on recently completed exploration and development work and equipment by the Czech government. Exploration work consisted of 53 surface and 14 underground diamond drill holes totaling 54,662 feet and underground development totalling 5,066 feet.
 Yellow Point Mining Corp., has a joint venture agreement with Riviera Explorations Ltd. and Bohemia Dulni A.S., a private Czech company, to explore, develop and mine the Kasperske Hory gold deposit. Yellow Point, the major interest holder in the joint venture is the operator.
 -0- 7/27/92
 /CONTACT: Thomas R. Tough, P.Eng., president of Yellow Point Mining Corp., 604-538-6601/
 (YPT.) CO: Yellow Point Mining Corp. ST: British Columbia IN: MNG SU:


EH-JL -- LA008 -- 3337 07/27/92 08:32 EDT
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Date:Jul 27, 1992
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