Tandem Resources Ltd Reports That It Is Acquiring A 50-Square Kilometre Concession In The Quebec-Labrador Trough Northeast Of Schefferville

Business Wire, April 30, 1996

TORONTO--(BUSINESS WIRE)--April 30, 1996--Tandem Resources Ltd. ("Tandem") reports that it is acquiring a 50-square kilometre concession in the Quebec-Labrador trough northeast of Schefferville. The concession contains a soil gossan or rust zone over 5 acres in area which contains up to 0.13% nickel-copper. A reconnaissance geophysical survey has located a very strong conductor zone adjacent to the gossan area. Some of the readings related to the survey were off scale. The conductor zone is about 3200 feet long and up to 800 feet wide. Arrangements for a drilling program are being made with drilling slated to start about the middle of June.

Aerial geophysical surveys of the Voisey Bay area concessions are now under way. A prospecting party, last year, located several areas on two of the concessions that carried copper values up to 1.06% and 0.30% nickel.

In Indonesia, Tandem is a joint venture partner with Bresea Resources and Diadem Resources in the exploration of three separate concessions in Kalimantan. Bre-X Minerals, under the direction of Bre-X Mineral's chief geologist, John Felderhof, is managing the program. Tandem has a 30% interest in one concession and 25% interest in two others. Exploration on the three concessions is expected to be started by the middle of May or in approximately two weeks.

Tandem is a joint venture partner with NAR Resources Ltd. ("NAR") in the Matheson area of Northern Ontario. Tandem and NAR recently reported a potentially ore grade gold intersection on optioned ground (Windsor Option) near Highway 101. This intersection was in Hole W-3 and it obtained 10.8 feet averaging 0.47 ounces of gold per ton starting at 272.0 feet in the hole. Further holes were drilled 100 feet on either side of W-3 and 100 feet below W-3. These latter holes encountered gold values but they were below 0.20 ounces of gold per ton. Owing to spring break-up, drilling has been suspended but the drill remains at the property pending a correlation of all results. A decision as to a further drill program will be made after a study of all drilling and geophysical data has been completed.

The Schefferville prospect is being acquired for $16,000 and the issuance of 50,000 shares of Tandem. The vendors, a prospecting syndicate, will hold a 10% net profit interest and the prospectors a 1 1/2% net smelter return, subject to regulatory approval.

CONTACT: Stanley G. Hawkins, 416/862-7885