April 30, 1996
Trading Symbol: CYR (ASE)

MILLER POND - ML 1506 - ALLIGER LAKE

Columbia Yukon Resources Ltd. is pleased to announce that the first of an aniticipated six to eight initial diamond drill hole program (3,000 feet approximately) is now underway as of 2:05 p.m. local time today on ML 1506 in the Alliger Lake-Okak Bay region of Labrador.

The work planned will include drill testing of electromagnetic conductors in the layered troctolite sequences identified in the 1995 Phase 1 field season.

Silverstone Resources Ltd. has the right to earn 50% interest in ML 1506, with Columbia Yukon Resouces Ltd. being the operator.

ON BEHALF OF THE BOARD OF DIRECTORS


"Douglas L. Mason"
Douglas L. Mason, DIRECTOR

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