Bre-X soars on RI mine

Bre-X soars on RI mine

CALGARY (Reuter): Shares of Bre-X Minerals Ltd skyrocketed in
frantic trading Wednesday after the Alberta Stock Exchange-listed
company released drill results suggesting it may have found one
of the world's largest gold mines.

Bre-X was trading up C$9-1/2 to C$38-3/4 on volume of 930,380
shares. As recently as March Bre-X stock was at C$2.00 a share.

Bre-X vice-president Steve McAnulty told Reuters he is
comfortable with estimates that the company's Busang gold project
in East Kalimantan, Indonesia could contain over 30 million
ounces of gold.

"This may be the largest deposit in the world," McAnulty said.
"It's too early to categorically state that, however it's got all
the earmarks."

He said the company has been confident of a major strike since
it began doing work on the property in early 1993, but tried to
avoid major hype until it had updated reserve calculations.