Antam drilling results for Cibaliung gold project

International Antam Resources has received the assay results for drill holes AC-4, AC-5 and AC-6 on the Cibaliung gold project from its joint venture partner, Austindo Resources Corporation N.L. (Austindo). The results from the initial three holes were announced in Stockwatch May 11, 2000.

The Cibaliung gold project is a high-grade epithermal gold vein system located 150 kilometres southwest of Jakarta in West Java, Indonesia. Previous expenditures totaling $2.8-million (U.S.) identified two high-grade mineralized zones in an extensive epithermal system. The property is currently joint ventured with Austindo Resources Corporation N.L., which is required to finance the next stages of exploration expenditure to a total of $1.425-million, after which the company will be required to provide its pro rata share of expenditures or accept dilution of its current 37-per-cent interest.

These three holes are part of a 10,000-metre drill program that began in March of this year and is designed to confirm the current inferred resources of Cikoneng and Cibitung ore shoots, upgrade these to indicated status, explore extensions to the zones and test priority targets adjacent to the Cibitung and Cikoneng zones. Holes AC-4 and AC-5 intersected the targeted Cikoneng ore shoot in the expected positions and AC-6 intersected the Cibitung shoot. Assay results for all holes to date are reported below:

Downhole Assay Results

Vein Intercepts Length Au Ag

From To Core

(m) (m) (g/t) (g/t) Recovery

Cikoneng

Hole AC-1

221.70 232.20 10.50 25.88 193 77.2%

Hole AC-2

83.00 91.00 8.00 13.68 153 98.9%

Hole AC-3

170.70 180.00 9.30 8.11 86 93.6%

Hole AC-4

231.20 238.60 7.40 6.71 43 93.2%

251.70 253.80 2.10 34.04 228 90.5%

Hole AC-5 *

200.55 206.50 5.95 1.61 18 94.1%

Cibitung

Hole AC-6

122.40 123.35 0.95 19.10 133 100.0%

130.40 133.50 3.10 6.35 42 96.8%

(*)