|T.S.E. SYMBOL: SAO
S.E.C. Registration: 0-22216
BERLIN S.E. SYMBOL/WKN: SRS/899 188
|SAN ANDREAS RESOURCES CORPORATION
ANNOUNCES THIRD QUARTER FINANCIALS
|Vancouver, British Columbia, November 27, 1997: San Andreas Resources Corporation (the "Company") is pleased to announce its unaudited financial results for the nine month period ended September 30, 1997. The Company is in the development stage of its business and has earned no revenue from its operations.
At September 30, 1997, the Company had a balance of cash and cash equivalents of Cdn $933,452 compared to Cdn $321,405 at September 30, 1996, and total assets including its resource interest and capital assets were Cdn $11,576,227 for 1997 compared with Cdn $10,656,103 at September 30, 1996.
There was a reduced loss for the nine month period ended September 30, 1997 at Cdn $248,031 compared with Cdn $430,632 for the comparable period in 1996. Exploration expenditures at its Prairie Creek mine in the Northwest Territories amounted to Cdn $295,669 compared with Cdn $370,089 for the first nine months of 1996.
The Company has 18,573,352 common shares with no par value outstanding which compares with 15,925,852 at September 30, 1996.
The Company will provide a copy of its financial statements for the period ended September 30, 1997 to each security holder who requests them.
|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|