| ||Tue Aug 3, 2004|
Stealth In Discussions with Watch Lake Resources
| ||STEALTH MINERALS IN DISCUSSIONS WITH ARGENTINA BASED WATCH LAKE RESOURCES|
Stealth Minerals Limited ("Stealth") has entered into preliminary discussions with Watch Lake Resources Ltd., a private British Columbia Corporation and its Argentine subsidiary, Salta Exploraciones, S.A. Watch Lake is based in Vancouver and Salta Exploraciones is based in north western Argentina in the city of Salta.
The discussions include the review of certain data on a wide range of mineral prospects under the control of Salta Exploraciones. Stealth's primary interest is in reviewing data on open pit bulk-mineable gold prospects, which is one mineral style in Salta's extensive portfolio.
During the past year, Salta Exploraciones S.A. has located by staking a portfolio of mineral prospects in north western Argentina under the direction of Dr. Tom Richards and his staff of prospectors, research scientists and geologists. Salta's portfolio consists of properties that display several styles of mineralization, such as porphyry copper-gold, IOCG, high and low-sulphidation epithermal gold-silver, sandstone hosted copper-silver, exotic copper, VMS lead-zinc with precious metal credits and other mineral occurrences that have economic potential.
The discussions contemplate that Stealth may provide property financing to earn an interest in mineral prospects in this complimentary exploration jurisdiction. This strategic move will allow Stealth Minerals to have a year-round exploration program.
Stealth's activities are currently focused in the Toodoggone region in north central BC. The first drill program will start August 5th on the Quartz Lake gold-silver epithermal veins. Large-scale exploration is also underway on Stealth's 63,000 hectares of prospective geology.
Stealth and Watch Lake are related parties as the companies have certain directors in common. Subject to favourable review and agreement, Watch Lake and Stealth may enter into formal agreements. All agreements will be subject to normal regulatory review and approval.
Chief Executive Officer
Phone: 604 999 0391
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