T.S.E. SYMBOL: SAO
S.E.C. Registration: 0-22216
 
DRILLED RESOURCES AT HIGH GRADE
PRAIRIE CREEK DEPOSIT EXCEED 10 MILLION TONNES

Vancouver, British Columbia, November 28, 1995: San Andreas Resources Corporation is pleased to announce excellent results from its 1995 drilling program at Prairie Creek, Northwest Territories. The in-situ geological resource now amounts to 10.6 million tonnes, an increase of more than 70% in the size of the deposit compared with 1994 (6.2 million tonnes). The grade of the enlarged resource is 13.1% zinc, 11.3% lead and 188 grams of silver per tonne. A summary of the in-situ geological resources is shown in Table I attached.

Based upon this updated resource estimate, the metal contained in this deposit, which remains open, now amounts to around:

 
3.1 billion lbs. of zinc (1.39 million tonnes),
2.6 billion lbs. of lead (1.2 million tonnes) and
64 million oz. of silver (2,000 tonnes)
 
The additional 4.4 million tonnes in the vein extension is calculated on the seven step-out holes drilled in 1995, which extended the strike length of the deposit to 2.1 kilometres, details of which are shown in Table II attached. The Company has a high degree of confidence in this resource estimate because of the geology and the consistent nature of the 1995 intercepts compared with the previously identified vein which has been drilled in greater detail. There is also excellent potential for discovering additional stratiform resources since the vein remains open to the north and drilling has not yet been carried out to test for stratiform mineralization within the area of the vein extension.

It is particularly encouraging that high grade stratiform mineralization has now been identified in 5 locations between Zone 6 and Zone 3 covering a distance of some 3.5 kilometres and each of these is hosted by the same rock formation. Significantly this stratigraphy continues to outcrop for a further 5 kilometres to the south which is an area entirely covered by the Company's present landholdings. This evidence, associated with the geological similarity to the Irish carbonate hosted deposits, such as Navan, indicates the potential of locating substantial tonnage of stratiform-type ore at Prairie Creek in the future.

The Company proposes to conduct in-fill drilling on the vein deposit in 1996 as it moves progressively forward with the development of the project towards a feasibility study and permitting.

FOR FURTHER INFORMATION PLEASE CONTACT:

SAN ANDREAS RESOURCES CORPORATION

Tony Millar, Chairman & C.E.O. (UK):011 44 1252 794740
David Elgee, President (CANADA):(604) 688-2001

TABLE I
 
PRAIRIE CREEK
1995 IN-SITU GEOLOGICAL RESOURCES

  Tonnes
(000's)
Zn
%
Pb
%
Ag
gm/t
Zone 3        
Vein

1,588

12.27

14.95

230.3

Stockwork

255

16.64

7.31

109.0

Stratiform

772

13.78

7.72

76.8

Stratiform Stockwork

224

12.89

5.91

67.9

Zone 3 Proven & Probable Reserves

2,839

13.12

11.59

164.9

Possible Resources - 1994        
Zone 3        

Vein

2,431

11.86

13.86

210.3

Stockwork

465

17.88

8.69

129.6

Stratiform

83

13.47

8.96

94.2

Stratiform Stockwork

66

6.39

3.98

37.4

Zone 3 Possible Resources

3,045

12.70

12.72

191.1

Zone 7 & 8

 

 

 

 

Vein

332

12.02

12.27

205.0

In-Situ Geological Resources to Dec. 1994

6,216

12.86

12.18

179.9

Possible Resources - 1995      

 

Zone 3      

 

Vein 4,383 13.41 10.15

200.6

Total In-Situ Geological Resources -1995

10,599

13.09

11.34

188.4

TABLE II
 
1995 VEIN STEP-OUT HOLE SUMMARY
Drillhole From (m) To (m) Core Interval (m) True Width (m) Section N (m) Elevation (m) Zn % Pb % Ag gm/t Cu %

PC-94-90

431.4

437.8

6.4

5.2

1833N

708.0

13.6

12.6

289.8

0.8

PC-95-95

417.9

423.1

5.2

4.0

2005N

741.0

11.8

13.0

198.1

0.3

PC-95-99

732.0

733.9

1.9

1.3

2225N

467.0

3.5

3.3

1.7

0.2

PC-95-109

602.0

605.9

3.9

2.7

2426N

670.0

22.9

20.4

244.0

0.5

PC-95-116

682.0

686.2

4.2

3.6

2658N

618.0

4.7

2.2

39.9

0.1

PC-95-122

761.4

766.8

5.4

4.1

2861N

448.0

12.5

5.6

202.7

0.5

PC-95-125a

745.0

748.2

3.2

2.6

3070N

467.0

13.7

18.0

367.8

1.1

PC-95-125b

759.9

766.2

6.3

5.2

3072N

455.0

18.7

7.0

238.7

0.8

PC-95-125c

772.9

773.9

1.0

0.8

3075N

447.0

31.6

16.9

325.5

1.0

Weighted Average (tonne) 4.2 3.3 13.4 10.2 200.6 0.5

Note:  Hole PC-95-125, the last step-out hole of the drilling season, intercepted 3 well mineralized intersections of vein structure with a combined core interval of 10.5 metres.