|T.S.E. SYMBOL: SAO
S.E.C. Registration: 0-22216
BERLIN S.E. SYMBOL/WKN: SRS/899 188
|EXERCISE OF WARRANTS|
|Vancouver, British Columbia, October 1, 1997: San Andreas Resources Corporation (the "Company") announces that 890,000 common shares in the Company have been issued following the subscription for 890,000 share purchase warrants which formed part of the private placement which closed on July 9, 1997. One warrant entitled the holder to purchase one common share of the Company, at a price of $0.50 per share, on or before September 30, 1997. The Company now has 18.6 million common shares in issue.
The net proceeds of $445,000 from the subscription for the warrants, together with the Company's existing cash resources, will be used for working capital and development work on the Company's Prairie Creek property, a high grade zinc, lead and silver project in the Northwest Territories of Canada.
|FOR FURTHER INFORMATION PLEASE CONTACT:
SAN ANDREAS RESOURCES CORPORATION
|Tony Millar, Chairman & C.E.O.||(UK):||011 44 1252 794740|
|Alan Taylor, President||(CANADA):||(604) 688-2001|