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   Gold/Mining/EnergyPele Mountain


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To: GC who wrote (224)1/8/2004 9:55:47 PM
From: rdww
   of 241
 
what area (S) do you hear are hot in timmins?

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To: GC who wrote (224)1/16/2004 1:29:34 PM
From: rdww
   of 241
 
Company believes it could be onto the next Northern diamond find
TIMMINS/The Daily Press
January 14.2004

By Gregory Reynolds

A junior mining company has big dreams as it is seeking nickel south of
Timmins and diamonds at Attawapiskat and Wawa.
Pele Mountain Resources Inc. is drilling on its 100 per cent owned Timmins
Nickel Property. It is also drilling on its 100 per cent owned Attawapiskat
River Diamond
Project.
What may be its best property is 25 kilometres north of Wawa where president
Al Shefsky says ³Pele has discovered an important new source of Canadian
commercial size and gem quality diamonds.²Pele controls a 100 per cent
mineral rights interest in the 101 square km Festival Diamond Property.
During the 2003 winter exploration program, a 13 tonne sample from the
Cristal diamond occurrence returned 39 commercial size diamonds, including a
0.72 carat white gem quality diamond named ³The Big Goose.²
In December, prospector Joe Leadbetter found a 1.39 carat gem quality stone
by panning in the Wawa district.
In July, De Beers Canada Exploration Ltd., the world¹s leading diamond
exploration, mining and marketing company, signed an option and joint
venture agreement that will see it earn an initial 5l per cent participating
interest and to form a joint venture if it spends $10 million by Dec. 31,
2006.
In November, Pele acquired 41 mining claim units 35 kms south of Timmins
tied to the southern boundary of the former producing Texmont Nickel Mine.
³Pele acquired this highly prospective nickel property in late 2003 because
of strong nickel market fundamentals and the fortuitous availability of a
property that included the appropriate host rock types situated adjacent to
a past producing mine,² Shefsky said.
³Several former and currently producing nickel mines are hosted within the
world-renowned komatiite associated nickel deposits of the Timmins area.
³The recent increase in nickel prices and the construction of a nickel
concentrator by Falconbridge for its Montcalm nickel mine to be on-stream by
2005, has revitalized nickel exploration in the area which has already led
to an important discovery of nickel mineralization by Mustang Minerals
Corporation.²
At Attawapiskat, where De Beers is expected to announce Ontario¹s first
diamond mine in May, Pele¹s drilling is to test targets identified in the
on-going ground geophysics program it announced in October and December.
Drilling of magnetic geophysical targets is an established method for the
discovery of the known kimberlite pipes in the Attawapiskat cluster.
At least 18 diamond-bearing kimberlites have already been discovered in the
cluster, including De Beers¹ Victor kimberlite pipe which, according to
published information, is advancing toward planned commercial diamond
production in 2007.
Pele¹s Attawapiskat River Diamond Project comprises the largest 100 per cent
owned claim holdings within a 30 kilometre radius of the Victor pipe.
Kimberlite discoveries announced by a number of junior exploration companies
working in the area over the past few years suggest the possibility that
additional kimberlites are likely to be present in the area, he said

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To: GC who wrote (224)2/4/2004 1:45:19 AM
From: rdww
   of 241
 
Kaiser calls GEM aggresssive in Atta at Vancouver conference

"Another well-regarded junior, Pele Mountain Resources Inc. (TSX.V: GEM), is however moving along a much more aggressive timeline in Attawapiskat than the notoriously methodical Fipke. Pele Mountain is presently drilling some magnetic targets in the hope that Fipke’s theory is far from watertight. Kaiser likes Pele Mountain as a long shot that could surprise everyone with one or more diamondiferous kimberlite discoveries in early 2004. "

excerpted from:

smallcapmedia.com

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To: GC who wrote (224)2/9/2004 10:56:07 AM
From: rdww
   of 241
 
NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PELE MOUNTAIN RESOURCES INC.

TSX VENTURE SYMBOL: GEM

FEBRUARY 9, 2004 - 10:45 ET

Pele Mountain Discovers Gold Near Timmins

TORONTO, ONTARIO--Pele Mountain Resources Inc. (TSX Venture:GEM)
("Pele" or the "Company") is pleased to announce that gold
mineralization was intersected during its recent drill program
within its 100% owned Timmins Property, located 35 kilometres
south of Timmins. A limited suite of split core from zones of
alteration and deformation clearly indicate that the recent drill
program intersected significant concentrations of gold. The gold
mineralization is coincident with a ground horizontal loop
electromagnetic (HLEM) conductor that has been outlined within
Pele's Timmins Property to extend for more than 1.6 kilometres.

Selected samples of halved core were collected across relatively
narrow segments within different zones and submitted for assay to
SGS Lakefield Research Limited with a secure chain of custody.
All samples were of split core and only a limited number of
samples were collected from zones that were perspective for gold
mineralization. Assays of the more significant gold results are
summarized in the table below and additional sampling of the four
drill holes will be completed to gain a more thorough
understanding of the gold potential.

/T/

---------------------------------------------------------------------
Hole Line Sample # From To (m) Width
(m) (m) Au g/t
---------------------------------------------------------------------
PM-03-03 3+00S 3725 132.38 133.50 1.12 0.21
---------------------------------------------------------------------
PM-03-03 3726 133.50 134.41 0.91 4.55
---------------------------------------------------------------------

---------------------------------------------------------------------
PM-03-03 3727 134.85 135.98 1.13 0.16
---------------------------------------------------------------------
PM-03-03 3728 135.98 137.59 1.61 0.03
---------------------------------------------------------------------
PM-03-03 3729 137.59 138.56 0.97 0.67
---------------------------------------------------------------------
PM-03-03 3730 138.56 138.95 0.39 0.09
---------------------------------------------------------------------
PM-03-03 3731 138.95 139.68 0.73 1.04
---------------------------------------------------------------------
PM-03-03 3732 139.68 141.06 1.38 0.29
---------------------------------------------------------------------

---------------------------------------------------------------------
PM-03-04 7+00S 3765 142.45 143.00 0.55 1.67
---------------------------------------------------------------------
PM-03-04 3766 143.00 143.60 0.60 0.29
---------------------------------------------------------------------
PM-03-04 3767 143.60 144.51 0.91 0.12
---------------------------------------------------------------------

---------------------------------------------------------------------
PM-03-04 3773 147.45 148.10 0.65 0.13
---------------------------------------------------------------------
PM-03-04 3774 148.10 148.80 0.70 1.47
---------------------------------------------------------------------
PM-03-04 3775 148.80 149.12 0.32 0.41
---------------------------------------------------------------------
PM-03-04 3776 149.12 149.61 0.49 0.18
---------------------------------------------------------------------

/T/

The drill program was originally designed to test the HLEM
conductor that extended southward from the Texmont Nickel Mine
onto Pele's Timmins Property. The HLEM conductor closely
correlates with the basal contact of ultramafic flows that
include spinifex textured komatiite and economic concentrations
of nickel sulphide mineralization on the Texmont property to the
north.

The drilling program completed by Pele has demonstrated that the
HLEM conductor is coincident with gold mineralization and a
limited amount of nickel mineralization was also identified in
samples assayed to date. Spinifex textured komatiites and
ultramafic rocks with disseminated sulphides and massive sulphide
(pyrrhotite and pyrite) were intersected during drilling. Nickel
mineralization within these zones varied from below detection
limit ( less than0.05 weight percent) up to 0.22 weight percent
nickel.

Pele is a Canadian mining exploration and development company and
a leader in the search for economic diamond and gold deposits in
Northern Ontario. This press release has been reviewed and
approved by Dr. Edward Walker P. Geo., of PetroLogic Inc., an
independent consultant and Qualified Person.

Common Shares Outstanding: 43,403,014.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Some
of the statements contained in this release are forward-looking
statements, such as estimates and statements that describe Pele's
future plans, objectives or goals, including words to the effect
that Pele or management expects a stated condition or result to
occur. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements.
None of the Company's properties have any known ore body of
economic or commercial value.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Pele Mountain Resources Inc.
Al Shefsky
President
(416) 368-7224
info@pelemountain.com
www.pelemountain.com

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To: rdww who wrote (223)2/13/2004 12:16:11 PM
From: rdww
   of 241
 
Pele Advances Attawapiskat River Diamond Project

FEBRUARY 13, 2004 - 12:05 ET

TORONTO, ONTARIO--Pele Mountain Resources Inc. (TSX Venture:GEM)
("Pele" or the "Company") is pleased to report that an aggressive
exploration program is progressing at its 100% owned Attawapiskat
River Diamond Project. Kimberlite indicator minerals have
recently been recovered from Pele's West River Property that
include: high forsteritic olivine, lherzolitic garnets,
high-magnesium ilmenites, and high-magnesium chromites. The
samples containing the kimberlite indicator minerals were stream
sediments collected with an auger from a creek bed within the
vicinity of a number of prospective magnetic targets in the
southern portion of Pele's West River Property. The samples were
processed for kimberlite and diamond indicator minerals and the
recovered indicator minerals were analyzed with an electron
microprobe at SGS Lakefield Research Limited.

Pele is currently performing an extensive, highly detailed ground
magnetic survey. Approximately 200 line kilometres of grid have
already been cut in the southern portion of the West River
Property with 100 metre and 50 metre line spacing. Magnetic
readings are being taken on 25 metre and 12.5 metre intervals
along the cut lines. The highly detailed ground magnetic survey
has revealed a number of magnetic anomalies that may be
indicative of pipe-like kimberlite intrusions, which are not
readily discernible on available airborne magnetic surveys. The
magnetically dominant Precambrian basement lithologies appear to
have masked certain relatively more subtle, near surface
pipe-like magnetic targets that have recently been identified by
Pele's detailed ground magnetic data.

Drill testing of magnetic targets using a small portable drill
began immediately upon identification of ground magnetic
anomalies as Pele's magnetic survey was progressing. Following
several delays in January as a result of extreme winter weather
conditions, two of these anomalies were drilled to a depth of
approximately 35 to 40 metres, which is approaching the practical
depth limit of Pele's portable drill. Both resulted in the
successful recovery of core containing predominantly limestone
from bedrock. Recently obtained detailed ground magnetic data
have identified additional targets within the much stronger
magnetic background of the Precambrian basement that exhibit
magnetic characteristics indicative of near surface, pipe-like
kimberlite intrusions. The drilling of these targets will
commence in the next few days.

Pele's West River Property is strategically located at the
northwest extension of a structure that appears to have
controlled the emplacement of most of the known diamond-bearing
kimberlites of the Attawapiskat cluster. Pele's mining claims in
the area comprise the largest 100% owned claim holdings within a
30 kilometre radius of De Beers' Victor kimberlite pipe, which,
according to published information, is advancing towards planned
commercial diamond production in 2007.

Pele is a Canadian mining exploration and development company and
a leader in the search for economic diamond and gold deposits in
Northern Ontario. This press release has been reviewed and
approved by Dr. Edward Walker P. Geo., of PetroLogic Inc., an
independent consultant and Qualified Person.

Common Shares Outstanding: 43,403,014

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Some
of the statements contained in this release are forward-looking
statements, such as estimates and statements that describe Pele's
future plans, objectives or goals, including words to the effect
that Pele or management expects a stated condition or result to
occur. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements.
None of the Company's properties have any known ore body of
economic or commercial value.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Al Shefsky,
President
(416) 368-7224
www.pelemountain.com

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To: rdww who wrote (229)2/17/2004 10:22:38 AM
From: rdww
   of 241
 
COMPANY STRIKES GOLD
By MAGGIE RIOPELLE
Timmins Times
Originally searching for nickel, Pele Mountain Resources Inc. was pleasantly surprised to find gold.
The company owns a property, located 35 kilometres south of Timmins, near the former Texmont nickel mine.
They will be back on the property next week to conduct additional drilling and sampling for gold resources.
“It’s very interesting news, because we weren’t even sampling for gold,” commented Al Shefsky, president. “We did find some nickel, up to 2.2 per cent, which was lower than anticipated. What really grabbed our attention was the gold. The gold numbers we’ve seen are significant – way beyond anything we were expecting.
“A limited suite of split core from zones of alteration and deformation clearly indicate that the recent drill program intersected significant concentrations of gold.”
The gold mineralization is coincident with a ground horizontal loop electromagnetic conductor that has been outlined within Pele's Timmins Property to extend for more than 1.6 kilometres, he added.
“There is a lot of core that has not been sampled. It is a great property with great potential.”
Once an extended drilling program is completed, the sampling will be sent to the labs. After which, Pele hopes to have a better indication of the gold resources on the property and what will be the next phase of the project.
“We may do some surface stripping, it is a wonderful way to get a picture of the resources and sampling. It is also very cost effective. We will be looking at this property one step at a time. The company is well funded right now and we have four other projects that are active.
“This is the first time we have been in Timmins and we think Timmins is great.”
As for the mining of nickel, Shefsky said the company still hopes to mine the nickel but will focus on the gold resources.
“We will have to add a whole new dimension to the plans now that we have very enticing gold mineralization. Anytime you make a new gold discovery it is an exciting time. One can only dream.”
Pele is a Canadian mining exploration and development company. The company is known for its search for economic diamond, nickel, and gold deposits in Northern Ontario.

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To: rdww who wrote (230)3/8/2004 10:55:46 PM
From: rdww
   of 241
 
Pele Gold Corporation Begins Gold Exploration
Mar.8.2004
TORONTO, ONTARIO--Pele Mountain Resources Inc. (TSX Venture:GEM)
("Pele" or the "Company") is pleased to announce that a
mechanical stripping and sampling program is underway to discover
and delineate significant near surface bedrock gold occurrences
at its Wawa Gold Project. In 1999, Pele successfully recovered
1,600 ounces of gold from a 10,000 tonne surface sample mined at
the Markes Zone. This sample successfully demonstrated the
possibility of generating a positive cash flow from low cost
surface bulk sampling at Pele's Wawa Gold Project. The Wawa Gold
Project is located approximately 50-kilometers northeast of Wawa,
Ontario.

Late in 2003, Pele's 100% owned Wawa Gold Project and its 100%
owned Ardeen Gold Mine Project were transferred to Pele Gold
Corporation, a wholly owned subsidiary of the Company. The new
corporate structure is intended to highlight both the Company's
diamond and gold projects and to provide additional flexibility
for Pele to facilitate future opportunities to enhance
shareholder value.

Pele's Wawa Gold Project covers approximately 14 kilometers of
the Goudreau-Localsh Deformation Zone and is strategically
located within an area that has hosted several former producing
gold mines. On the east side of Pele's Property, the Renabie Gold
Mine produced more than 1,000,000 ounces of gold. On the west
side of Pele's Property there have been many former gold
producers including, the Kremzar, Edwards, Cline and Magino gold
mines. Infrastructure in the area is considered by management to
be excellent with road and rail access, electric power, a
qualified workforce and modern gold mills located in close
proximity to Pele's Property.

Pele acquired its Wawa Gold Project in 1996 and has conducted
several phases of exploration that have included geophysics,
geochemistry, prospecting, mechanical stripping, mapping and more
than 6000-meters of diamond drilling. In December 2003, Pele
reactivated exploration at its Wawa Gold Project by initiating a
data compilation and surface sampling program that has confirmed
the presence of widespread gold mineralization across several
different geological units.

The current mechanical stripping and sampling program has
expanded into a new area approximately 9-kilometers east of the
Markes Zone. Previous sampling by Pele in the new area was
limited to two bedrock samples collected in 1999 that returned
23.8 grams gold/tonne from a quartz vein and 0.2 grams gold/tonne
from adjacent wall rock. The current stripping program will open
the area around these two samples to determine if they are
related to a zone of significant gold mineralization.

Pele is a Canadian mining exploration and development company and
a leader in the search for economic diamond and gold deposits in
Northern Ontario. This press release has been reviewed and
approved by Dr. Edward Walker P. Geo., of PetroLogic Inc., an
independent consultant and Qualified Person.

Some of the statements contained in this release are
forward-looking statements, such as estimates and statements that
describe Pele's future plans, objectives or goals, including
words to the effect that Pele or management expects a stated
condition or result to occur. Since forward-looking statements
address future events and conditions, by their very nature, they
involve inherent risks and uncertainties. Actual results in each
case could differ materially from those currently anticipated in
such statements. None of the Company's properties have any known
ore body of economic or commercial value.

Common Shares Outstanding: 43,571,014

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Al Shefsky
President
(416) 368-7224
(416) 368-7230 (FAX)
www.pelemountain.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

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To: rdww who wrote (231)3/19/2004 12:28:42 AM
From: rdww
   of 241
 
Pele Mountain Bulk Sample Returns Big Diamond

TSX VENTURE SYMBOL: GEM

MARCH 17, 2004 - 17:06 ET

TORONTO, ONTARIO--Pele Mountain Resources Inc. (TSX Venture: GEM)
("Pele" or the "Company") is pleased to announce that De Beers
Canada Exploration Inc. ("De Beers") has reported the recovery of
a 0.9 carat diamond from the Genesis diamond occurrence
("Genesis") located within the Festival Property, north of Wawa,
Ontario. The 0.9 carat diamond was recovered from an ultramafic
facies of rock that is comparable to the facies of rock from
which the 0.72 carat, white, gem quality diamond "The Big Goose"
was recovered in March 2003 from the Cristal Diamond Occurrence
("Cristal").

In late 2003, De Beers collected four bulk samples weighing a
total of 258 tonnes and processed them at their DMS facilities in
Grande Prairie. The processing circuit recovered diamonds greater
than 1mm square mesh sieve size which is a routine practice for
bulk samples in this size range. The 0.85mm to 1.00mm size
fraction was collected and retained at Pele's request but has not
yet been processed and any commercial size diamonds in this size
fraction are not included in the bulk sample results reported to
date.

The bulk sample sites were selected from different facies to
acquire information about the diamond distribution relationship
between micro diamonds and commercial size diamonds. Two of the
samples collected are ultramafic facies of rock from different
locations at Genesis and the other two samples collected are a
mafic facies of rock, one from Genesis and the other from the
Moet diamond occurrence. The four bulk samples also represent
locations with variable micro diamond results including locations
with relatively high (greater than 10 diamonds per kilogram) and
relatively low (less than 0.1 diamonds per kilogram) micro
diamond frequencies.

A total of 875 kilograms of diamond concentrate was produced in
Grande Prairie and then shipped to South Africa for final diamond
extraction and reporting of the results. Concentrates from three
(3) of the samples representing 203.4 tonnes of head feed weighed
328 kilograms, a concentrate weight of only 0.16% of these
samples. De Beers achieved the relatively smaller concentrate
weight (compared to the previous 100 tonne bulk sample from
Cristal with a concentrate weight of 3.3% of the sampled rock) by
modifying its standard processing circuit with the introduction
of a high power permanent magnet roll separator to process the
DMS concentrates. The magnetic separator used in Grande Prairie
was the same machine that Pele had used at its on-site processing
facility in 2002 and Pele was in full agreement with the use of
this magnet in the processing flow chart.

Each of the four bulk samples successfully returned commercial
size diamonds greater than 1mm square mesh sieve size as
indicated in the table below and the diamond recorded in the +13
sieve class screen size for the Genesis-2 sample is the 0.9 carat
diamond. As a routine practice at the Grande Prairie facility,
10% of the DMS rejects are reprocessed by De Beers for auditing
purposes. No diamonds were reported for three (3) out of the four
(4) routine audits (one per bulk sample), however, the audit
sample of the DMS rejects from the Genesis-2 sample returned
seven (7) of the 46 diamonds reported for this sample.

De Beers also reported that 100% of the diamonds for the
Genesis-3 sample and 100% of the diamonds from the Genesis-2
audit sample were not recovered by the diamond x-ray sorter. All
of the Genesis-3 diamonds and all of the diamonds recovered from
the audit of the Genesis-2 sample were recovered from the
non-magnetic x-ray rejects for each of these samples. To ensure
full recovery of all diamonds, to include low luminescence
diamonds, the standard flow sheet at De Beers' GEMDL facility in
Johannesburg includes magnetic separation of all x-ray rejects,
with full sorting of the non-magnetic fraction. In total, 44% of
all diamonds reported from the bulk samples were not recovered by
the diamond x-ray sorter. The following chart contains the
results of the bulk samples as reported by De Beers:

/T/

--------------------------------------------------------------------
Occurrence Rock Sample Sieve Class Screen Size(a) Total Total
Type Wt. +1 +2 +3 +5 +6 +13 Dia- Carat
Tonnes monds Wt.
--------------------------------------------------------------------
Genesis-1 Mafic 54.6 1 3 1 3 2 - 10 0.34
Genesis-2 Ultra- 82.9 16 16 10 3 - 1 46 1.75
mafic
Genesis-3 Ultra- 72.7 4 2 2 - - - 8 0.13
mafic
Moet Mafic 47.8 1 2 2 - - - 5 0.13
--------------------------------------------------------------------
(a) As reported by De Beers

/T/

Both the 0.9 carat diamond from Genesis and 0.72 carat diamond
from Cristal were recovered from a suite of rocks that are
considered to be a "primary facies" of diamond-bearing ultramafic
volcanic rock within the Festival Property. These rocks have been
identified in intermittent outcrop along a stratigraphic horizon
for more than 5 kilometers within the Festival Property with
surface widths up to and exceeding 100 metres. Based on all
results to date, the next sampling program will focus on testing
a number of the diamond bearing ultramafic facies within this
horizon.

Pele is a Canadian mining exploration and development company and
a leader in the search for economic diamond and gold deposits in
Northern Ontario. This press release has been reviewed and
approved by Dr. Edward Walker P. Geo., of PetroLogic Inc., an
independent consultant and Qualified Person.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Some
of the statements contained in this release are forward-looking
statements, such as estimates and statements that describe Pele's
future plans, objectives or goals, including words to the effect
that Pele or management expects a stated condition or result to
occur. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements.
None of the Company's properties have any known ore body of
economic or commercial value.

FOR FURTHER INFORMATION PLEASE CONTACT:
Pele Mountain Resources Inc.
Al Shefsky
President
(416) 368-7224
Visit our website at www.pelemountain.com

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To: rdww who wrote (232)3/23/2004 1:34:57 PM
From: rdww
   of 241
 
Pele Mountain to Drill Wawa Gold Project
3/23/04

TORONTO, ONTARIO, Mar 23, 2004 (CCNMatthews via COMTEX) --
Pele Mountain Resources Inc. (TSX Venture:GEM) ('Pele'or the 'Company') is pleased to announce that Pele Gold Corporation, a wholly owned subsidiary of the Company, is set to begin drilling at its 100% owned Wawa Gold Project. The drill program follows a successful mechanical stripping campaign that uncovered a new mineralized zone to the east and west of a bedrock grab sample that returned 23.8 grams gold per tonne (see Pele's press release dated March 8, 2004). The new zone has been named the Golden Eagle Zone and drilling is scheduled to begin within one week.
Al Shefsky, President and CEO of Pele stated, 'We are very excited to be back to work with a new drilling program on this highly prospective gold property. Our Wawa Gold Project is strategically located between several past producing gold mines including the Renabie Gold Mine, which produced more than 1,000,000 ounces of gold. Pele is looking forward to a very active field season at the Wawa Property this year.'

Pele's near term exploration program is focused on outlining gold resources that can be bulk sampled from the surface and trucked to nearby producing gold mills for custom milling. Pele successfully mined a 10,000 tonne bulk sample in 1999 from the Markes Zone, which is located approximately 10 kilometres west of the Golden Eagle Zone. The Markes Zone bulk sample returned 1,600 ounces of gold from just the top ten (10) metres of the zone and demonstrated that low cost surface mining can generate important exploration data as well as positive cash flow. The Markes Zone remains open at depth.

Previous gold exploration within the western half of Pele's Wawa Property has discovered at least six (6) gold-bearing zones with potential to host significant gold resources. All of the known zones are open along strike and at depth. Pele's mechanical stripping program that began on March 1, 2004 confirmed that the gold bearing structures continue into the eastern half of the property, which also appears very prospective for hosting significant zones of gold mineralization. Infrastructure in the area is excellent with road and rail access, electric power, a qualified workforce and modern gold mills located in close proximity to Pele's Wawa Property.

Pele is a Canadian mining exploration and development company and a leader in the search for economic diamond and gold deposits in Northern Ontario. This press release has been reviewed and approved by Dr. Ed Walker, P.Geo. of Petrologic Inc., an independent consultant and qualified person.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Pele's future plans, objectives or goals, including words to the effect that Pele or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. None of the Company's properties have any known ore body of economic or commercial value.

Common Shares Outstanding: 43,571,014

Al Shefsky President (416) 368-7224 www.pelemountain.com

NEWS RELEASE TRANSMITTED BY CCNMatthews The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Copyright (C) 2004, CCNMatthews. All rights reserved.

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To: rdww who wrote (233)4/6/2004 10:40:40 AM
From: rdww
   of 241
 
Pele Mountain Begins Drilling at Wawa Gold Project

TORONTO, ONTARIO--(CCNMatthews - Apr 6, 2004) - Pele Mountain
Resources Inc. (TSX Venture:GEM) ("Pele" or the "Company") is
pleased to announce that its wholly owned subsidiary, Pele Gold
Corporation ("Pele Gold"), has begun drilling the Golden Eagle
Zone at Pele Gold's 100% owned Wawa Gold Project. The Golden
Eagle Zone was uncovered during a mechanical stripping program
last month (see Pele's press release of March 23, 2004). The
current drill program is designed to test the near surface gold
potential of the Golden Eagle Zone along strike to the east and
west of previous bedrock sampling. Previous sampling by Pele in
the new area was limited to two bedrock samples collected in 1999
that returned 23.8 grams of gold per tonne from a quartz vein and
0.2 gram of gold per tonne from adjacent wall rock.

Pele's board of directors has allocated to Pele Gold a
preliminary budget of $250,000 for gold exploration at the Wawa
Gold Project. A private placement of $125,000 of flow through
shares of Pele Gold was subscribed for by Pele in early February
2004, the proceeds from which will be used to fund qualified
exploration expenditures (including the current drill program).
These qualified exploration expenditures will be flowed through
to Pele which in turn have been previously renounced by Pele to
subscribers of Pele's flow through shares pursuant to private
placements completed during 2003.

Pele is a Canadian mining exploration and development company and
a leader in the search for economic diamond and gold deposits in
Northern Ontario. This press release has been reviewed and
approved by Dr. Ed Walker, P.Geo. of Petrologic Inc., an
independent consultant and qualified person.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Some
of the statements contained in this release are forward-looking
statements, such as estimates and statements that describe Pele's
future plans, objectives or goals, including words to the effect
that Pele or management expects a stated condition or result to
occur. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements.
None of the Company's properties have any known ore body of
economic or commercial value.

Common Shares Outstanding: 43,571,014

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Pele Mountain Resources Inc.
Al Shefsky
President
(416) 368-7224
www.pelemountain.com

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