Takla Star Announces Land Acquisitions Near Voisey Bay Nickel - Copper - Cobalt Discovery In Labrador

Business Wire, Jan 12, 1995

EDMONTON, ALBERTA--(BUSINESS WIRE)--JANUARY 12, 1995--TAKLA STAR RESOURCES(Alberta Stock Exchange: TKR) Mr. James P. Stewart, President of Takla Star Resources Ltd., today announced the completion of a mineral claim acquisition program in Labrador. Takla Star's substantial land position is comprised of 16 claim groups covering distinct geological and geophysical targets, in the immediate area of the Voisey Bay nickel-copper-cobalt discovery recently announced by Diamond Fields Resources Inc.

Takla Star has acquired, by staking, a 100% working interest in 912 claims, totaling approximately 22,800 hectares (57,000 acres). Takla Star has also optioned a 75% interest in 60 claims totaling approximately 1,500 hectares (including a 10 claim parcel within the Diamond Fields discovery block) from Newfoundland Mining and Exploration Ltd. The optioned claims were staked prior to the announcement of Diamond Field's initial assay results while Takla Star's staking took place immediately following that announcement. Subsequent to Takla's staking numerous other claims were staked in the Voisey area by Noranda, Cominco and others.

Takla's claims cover discrete airborne magnetic anomalies associated with gabbroic and anorthositic (principally troctolite) phases of the Nain Plutonic Suite. These rock types host the Voisey Bay deposit as well as other known nickel-copper occurrences in the area.

J. Tuach Geological Consultants Inc. of St. John's, Newfoundland, is in the process of preparing technical reports and recommended exploration programs for Takla's 16 Voisey Bay properties.

Takla Star Resources has exploration projects in Bolivia, Nevada and Canada and is listed on the Alberta Stock Exchange.

For property location and maps please contact William C. Bale, V.P. Corporate Development, TAKLA STAR RESOURCES LTD.

CONTACT: William C. Bale

              V.P. Corporate Development
              403/421-4521
              403/426-3211 (FAX)

"The Alberta Stock Exchange has neither approved or disapproved the information contained herein." REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or