Rio Amarillo Mining Ltd. Drilling Results

Business Wire, Sept 11, 1997

VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 11, 1997-- Rio Amarillo Mining (VSE:RIO) ("RIO") is pleased to announce the drill results from the second diamond drill hole in the Gigantones zone at the Guabisay gold-silver-copper property in central Ecuador. The hole, GD-2, was drilled due west into the near-vertical mineralized shear zone at an inclination of -60 degrees.

The second hole was drilled from the same drill platform as the first hole that was drilled on the azimuth N60W and intersected the shear zone from 69-165 metres. The results from the intersection in GD-1 were previously announced and graded 1.62 g/Mt Au, 18.01 g/Mt Ag and 0.68 percent Cu over 96 metres. The shear zone has been mapped on surface over a strike length of 200 metres and a width of 100 metres. Geochemical anomalies extend on strike over 1 kilometre in length.

Prior to hitting the main target, the second drill hole encountered a 6 metre intercept, from 48.5-54.5 metres, averaging 1.67 g/Mt Au, 46.3 g/Mt Ag and 0.19 percent Cu. The main brecciated shear zone was penetrated at 87.5 metres and sporadic values were encountered to a depth of 123.5 metres. More consistent mineralization was encountered from 123.5 metres to the bottom of the hole at 181.5 metres, and yielded an average grade of 0.89 g/Mt Au, 14.9 g/Mt Ag and 0.56 percent Cu over an interval of 58.0 metres. The last 38.5 metres within this intercept was higher grade and averaged 1.18 g/Mt Au, 18.8 g/Mt Ag and 0.66 percent Cu. A summary of the results is shown in the following table: -0-

   From     To   Interval     Gold      Silver     Copper
   (m)      (m)     (m)      (g/Mt)     (g/Mt)    (percent)

   48.5    54.5    6.0       1.67       46.3        0.11
   87.5   123.5   36.0       0.23       11.0        0.39
  123.5   143.0   19.5       0.32        7.2        0.42
  143.0   181.5   38.5       1.18       18.8        0.66

Combined average values from the above intercepts total:

  123.5   181.5   58.0       0.89       14.9        0.56
   87.5   181.5   94.0       0.64       13.4        0.50