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GOLD EXPLORATION NEWS Latest Results from Meadowbank

NUNAVUT So far this year CUMBERLAND RESOURCES has drilled 90 holes at its 100%-owned Meadowbank gold project 70 k...


NUNAVUT So far this year CUMBERLAND RESOURCES has drilled 90 holes at its 100%-owned Meadowbank gold project 70 km north of Baker Lake. Some of the results are spectacular. Holes returned high values of 119.46 g/t Au over 4.89 metres, 87.88 g/t over 4.91 metres, 97.61 g/t over 4.28 metres during infill drilling of the Goose Island deposit.

The Goose Island deposit is one of six closely-spaced, near surface gold occurrences that made up the Meadowbank project. Measured and indicated resources at Goose Island are 1.92 million tonnes averaging 4.8 g/t plus 2.1 million tonnes of inferred resources also averaging 4.8 g/t. For the entire project, Cumberland places the measured and indicated resources at 21.67 million tonnes grading 4.3 g/t Au and inferred resources of 5.7 million tons at the same grade.

This year’s $5.9-million diamond drilling program is focused on expanding both the deposit and open pit potential as well as hunting for new targets within the 25-km-long gold trend. Cumberland is reworking the figures and expects to complete the Meadowbank feasibility study in the fall of 2004.

Meadowbank is estimated to be the third largest undeveloped gold resources in Canada, producing as much as 250,000 oz/year if it goes into production as planned. Read all about it at www.CumberlandResources.com.


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