Anglo Minerals Acquires Option to Purchase Carlin Trend Land

Business Wire, May 22, 1996

CALGARY, Alberta--(BUSINESS WIRE)--May 22, 1996--ANGLO MINERALS LTD.(Alberta Stock Exchange:ALM) Mr. Todd Montgomery, President and CEO of Anglo Minerals Ltd., is pleased to announce the successful acquisition of an option to purchase 42,000 acres of patented land in Northern Nevada.

The land under option for Anglo's "Long Rider Project" lies in and near the major gold trends and producing mines in Nevada. These areas include, the Carlin trend, the Battle Mountain trend, and the Getchell trend. The majority of the land in the Long Rider Project lies within the Getchell trend where approximately 35,000 acres is adjacent to Santa Fe Pacific Gold Corp.'s, Twin Creek's Mine. Twin Creeks mine produced 510,000 oz of gold in 1994. The reserves are estimated to be 148,062,000 tons averaging 0.068 opt gold for a total of 10,013,000 ounces of gold.

The Long Rider Project also has 6,756 acres under option near Franco Nevada's Midas joint venture project where they have defined a reserve of 1.5 million ounces of gold and 10 million ounces of silver.

Management is extremely excited about this significant acquisition in light of the fact that most of this favorable ground has never been subjected to any means of exploration. This is due to the fact that historically, the property was a privately owned family operated ranch.

Anglo's Reno-based consultant believes the area is highly prospective for the discovery of gold deposits of the Carlin or Hot Springs type. The attached property map shows the location of the Long Rider Project relative to operating and past mines in Northern Nevada including Pinson, Getchell, Twin Creeks, Divide, Falcon, Lone Tree and Midas.

Financing is being sought for a US$15 million placement. The majority of the proceeds from the placement will be used to aggressively explore and develop the properties.

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NOTE TO EDITORS: NOTE: Location map available from the Company at the phone number listed above.

CONTACT: Anglo Minerals Ltd.

Todd Montgomery, Calgary, AB

403/262-3580

403/262-2229 (Fax)

or

Vancouver, BC

(604) 684-6136

or

Moose Jaw, Saskatchewan

306/693-7577

306/693-7299 (Fax)