Eskay Mining Corp./ ESK (TSXV)

Wer kennt das Unternehmen ?

http://www.kenrich-eskay.com

http://www.kenrich-eskay.com/index.php?site=8&page=141

http://www.kenrich-eskay.com/index.php?site=8&page=198Name

Name geändert
12/2020 Edel

Hommel schreibt dazu:

* KRE.V KREKF.PK (KENRICH ESKAY) (I own shares)
http://www.kenrich-eskay.com/
info@kenrich-eskay.com
Toll-free 1-888-805-3940 or (604) 682-0557
29.2 mil shares fully diluted (July, 2004)
@ $.45/share Cdn x .76 US/Cdn = $.34 US
$10 mil MC
Recently completed a $2.3 million financing for exploration.
Adjacent to Barrick's silver property, Eskay Creek, which is "the fifth largest silver producer in the world".
70% of the rights to The Property was once almost bought by Homestake (which was acquired by Barrick) for $35 million in 1996, and Homestake was going to fund all exploration and development. The buy out ended when metals prices collapsed, and Bre-X hit, and when the majors cut back on exploration budgets to stay alive. This means the market cap of KRE.V may be worth 100% / 70% x $35 million, or $50 million, plus exploration and development costs, to a major mining company, and likely worth much more today, due to inflation of the dollar, and the rise in the price of silver!

I own shares of KRE.V

http://www.silverstockreport.c…s/silverstockreport48.htm

KENRICH-ESKAY MINING CORPORATION
750 West Pender Street, Suite 410
Vancouver, British Columbia V6C 2T7
604-682-0557 Fax: 604-684-7116
Website: http://www.kenrich-eskay.com Email: info@kenrich-eskay.com
September 7, 2004 Symbol: KRE: TSX – V
NEWS RELEASE
DISCOVERY OF A NEW MASSIVE SULFIDE SHOWING ADDS TO DRILL TARGETS
ON COREY PROPERTY, ESKAY CAMP
Vancouver, BC – KENRICH-ESKAY MINING CORPORATION (the “Company”) is pleased to
announce excellent results from the first shipment of samples from its 100% owned Corey
property, in north-western British Columbia. The Corey property is a large land package
consisting of over 25,000 acres that is located on strike, just 8 km south of the world-class,
exceptionally rich, Eskay Creek gold mine of Barrick Gold Corp. The Cumberland, South Unuk
and C10 zones are now strongly confirmed as drill targets for Eskay-type gold-rich massive
sulphide deposits. First priority targets are now identified by these results and drilling will
commence mid-September.
PROGRESS REPORT ON 2004 FIELD PROGRAM
The high-priority field work commenced mid-July. Results are now in hand for the first shipment
of the rock, lithogeochemical and stream sediment samples from parts of the Cumberland,
South Unuk and C10 zones. With approximately one-half of the sampling results obtained, the
Company announces the following highlights:
New VMS Discovery: A new showing (the “Smitty”) of volcanogenic massive sulfides (VMS)
within Eskay-type mudstones, was discovered near the contact with Eskay-type tholeitic
basalts. The sulphides comprise massive pyrite, chalcopyrite, sphalerite and tetrahedrite
with anomalous silver and base metal (Ag-As-Sb-Cu-Zn-Pb) geochemical values. Assays
are pending. The sulphides occur at the same level in the Eskay sequence as the
Cumberland, and lie about 1.75 km southeast of the Cumberland Zone. The massive
sulphide portion of the discovery is one-half metre thick in outcrop and the stratigraphic
position and metal signature are exceptionally promising. Adjacent mineralization is
expected due to the results of stream sediment sampling, see below.
Multi-element Anomalies: Sediment sampling on the mountain slopes of the Cumberland -
South Unuk zone has yielded exceptionally strong multi-element geochemical anomalies
(Ag-Au-Cu-Zn-Pb-As-Sb), initially in two localities. Additional results are pending from later
shipments of samples. The anomalies are each defined by a dispersion train of responses
running downslope from a source within or near Eskay-type mudstones.
• One prominent anomaly is located downslope of the Smitty VMS discovery outcrop, but
extends onto the slope above the new showing, indicating an additional source of
precious and base metals lying to the east of the Smitty discovery.
• The second prominent anomaly, in Konkin creek on the South Unuk grid, occurs
downslope from a full sequence of Eskay basalt, a thick mudstone sequence and veined
and altered footwall volcanics, analogous to the Eskay sequence. Anomalies extend
upslope into the mudstone sequence above the altered footwall sequence.
• Other strong anomalies occur in adjacent creeks; however, interpretation is awaiting infill
sampling.
Gold Anomalies: The southern extension of the South Unuk zone is characterized by
numerous gold geochemical anomalies in stream sediments that lack the Eskay-type multielement
character, but drain a succession of Eskay-type volcanics and sediments.
Prospecting is underway to follow-up these strong geochemical values, which range up to
100 times background values.
C10 Zone Mapping: Lithogeochemical results from the 2004 program and field mapping
have confirmed the C10 zone quartz-sulphide-gold veining to be stringer-type
mineralization, related to altered volcanics of tholeitic and transitional affinity abutting Eskaytype
tholeitic basalts. The upper limits of the altered and veined zone have been mapped
and significant tetrahedrite-bearing veining with high gold-silver content has been located at
the contact. These results will be used to target drilling for VMS horizons along the contact
with the basalts.
The Company’s ongoing 2004 work is designed to trace, and to test at close intervals, the
volcanic and sedimentary horizons of the favourable Eskay-rift sequence. The initial results from
the 2004 work have conclusively demonstrated the effectiveness of the chosen high-energy
stream sediment geochemical technique in detecting Eskay-type mineralization. Additional
analytical results are expected next week.
These hard won results demonstrate that mineralized mudstones, massive sulfides and altered
and veined footwall rocks analogous to the Eskay deposit occur in a band extending at least 5
km south, along strike of the gold-silver bearing Cumberland massive sulfide horizon.
DIAMOND DRILLING TO START MID-SEPTEMBER
Drill-site selection will commence this week with the receipt of the balance of analytical results
from the high-priority field work. Sufficient data are now collected to target the exceptional
Smitty VMS showing, Konkin Creek and the C10 zones, all containing full signatures of a firstpriority
drilling target for Eskay-type high grade Au-Ag massive sulfides deposits. The diamond
drill rig is already mobilized to the Corey property, awaiting final drill hole layouts for start-up.
Drilling will commence by mid-September, with a 3,000m program in the first phase.
The geological information herein has been reviewed and approved by Paul J. McGuigan, P.
Geo. who is the Company’s Qualified Person.
On behalf of The Board of Directors of Kenrich-Eskay Mining Corporation.
“Wally E. Boguski”
Wally E Boguski,
President and Director
This document contains certain forward looking statements which involve known and unknown risks,
delays, and uncertainties not under the corporations control which may cause actual results, performance
or achievements of the corporation’s to be materially different from the results, performance or
expectation implied by these forward looking statements.
This release has been prepared by management – TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of this news release.

http://www.kenrich-eskay.com/i…sentation_files/frame.htm

@ Schwabenpfeil

freut mich zu hoeren,dass noch mehr Leute Interesse an Explorern haben. Glaube, dass einige Explorer recht guenstig sind. Die grossen Konzerne haben in den letzten Jahren ihre Explorationstaetigkeit eingeschraenkt, so dass sie auf die Kleinen bald angewiesen sind.

Ja, bin in Kenrich investiert.

Kurs wird in Toronto gemacht!!!

Finde die Aktie nach Peer Share Vergleich viel guenstiger als die anderen Explorer. Niedriges Mcap. Explorationsgebiet hoch interessant.

Nur eines der Gebiete von Kenrich wurde vor 8 Jhren mit etwa 50 Mio bewertet.

In den naechsten Wochen mehr.

Weitere Werte auf meiner Watchliste: Cream Minerals, Expatriate,Canadian Zinc, Silvercrest, Plexmar

@ Schwabenpfeil

Zitat

70% of the rights to The Property was once almost bought by Homestake (which was acquired by Barrick) for $35 million in 1996, and Homestake was going to fund all exploration and development. The buy out ended when metals prices collapsed, and Bre-X hit, and when the majors cut back on exploration budgets to stay alive. This means the market cap of KRE.V may be worth 100% / 70% x $35 million, or $50 million, plus exploration and development costs, to a major mining company, and likely worth much more today, due to inflation of the dollar, and the rise in the price of silver!

Exceptional Phase One results from the 2004 field program has Kenrich
beginning plans for a very aggressive 2005 Exploration Program on its
100% owned Corey property. The Corey is situated 10 km south of the
rich Eskay Creek gold-silver deposit in northwestern BC. The Corey is a
major holding on the prolific Eskay Rift trend and comprises 466 units
of claims covering 10,200 hectares (25,190 acres).
Definitive work in 2003 by Kenrich geologists tightened the focus on
the distribution of the important Jurassic rift basin that hosts the
exceptionally rich Eskay gold silver deposits. Favourable volcanicsedimentary
rocks of the deposit are now recognized to extend
southward in a narrow, north-south trend, termed Eskay-SIB-Corey
Belt. The southward trend passes across the former SIB property and
onto the adjacent Corey property. The Corey contains about one-half of
the strike length of the belt. (See the enclosed map).
PROGRESS REPORT: 2004 PHASE ONE EXPLORATION RESULTS
Rhyolites, mudstones and basalts of the Eskay rift are now mapped
definitively on the Corey. A thorough coverage of the central axis of the
property with detailed geological mapping, prospecting and specialized
stream sediment surveys has led to early discovery of new polymetallic
massive sulphide occurrences in outcrop (See the next
page). Very prominent stream geochemical anomalies occur along the
trace of the rift sequence, notably in areas underlain by mudstones.
Additionally, the exploration of the favourable rift sequence has traced
the zone into new areas of the Corey, opening significant acreage to
detailed follow-up.
Phase Two results will be received by the first week of November.

THE ESKAY TARGET
The Eskay Creek Mine contains several deposits of gold-silver-rich
polymetallic sulfide and sulfosalt mineralization as volcanogenic and
replacement massive sulfide; as debris flow breccias; and as discordant
veins and stockworks.
Production: By the end of 2003, the mine had produced 2,631,813
ounces gold and 122,318,415 ounces silver from 1.66 million tons of
ore. In 2003, the mine produced 352,070 ounces of gold and 17.0
million ounces of silver.
Reserves: Proven and probable reserves at the end of 2003 were
estimated at 0.93 million tons grading 1.0 ounces/ton gold. The deposit
also contains approximately 3.2 percent Pb, 5.2 percent Zn, and 0.7
percent Cu.
Ranking: It is the fifth largest silver producer in the world and the
second-richest producing gold mine in Canada.
Low-Cost Production: The Cash Cost of gold production has been
below $60 US dollars an ounce for the life of the Eskay Creek mine.
AGGRESSIVE 2005 PROGRAM TO FOLLOW
The new exploration concepts, now only 12 months in operation, are yielding exceptional
progress on the Corey property. All major exploration “risks” taken by the Company have
yielded positive results. The Corey is now shown to contain more extensive areas of
prospective volcanic-sedimentary rocks of the Eskay rift sequence. The 2004 Phase One work
has located new occurrences of gold- and silver-bearing massive sulphides with the critical
Jurassic age signature.
The Company is meeting the exploration challenge in the Eskay area and is successfully
locating new Eskay-style mineralization hosted in recessive weathering sediments and/or
altered volcanics. Significantly, all the Eskay deposits and the main SIB showings are
blind (located at depth or covered by an overburden of talus or bog). Historically,
gold-silver bearing footwall veining and alteration generated the initial interest in
drilling.
Final results from the 2004 Phase Two exploration program are still awaiting laboratory
analyses, expected in the first week of November, 2004. The Company’s consultants will
prepare a formal interpretation and report after those results are available.
Meanwhile, Phase One results received to date are exceptional, and warrant the Company to
proceed with the success contingent recommendation submitted in the Spring of 2004. That
recommendation called for $3,100,000 in drilling. With adjustments for new costs, and
follow-up of new zones, the Company estimates the first round of exploration in
2005 will require at least 8,000 meters of diamond drilling at a cost in excess of
$4,000,000. A final 2005 exploration program plan will be prepared after all data from
2004 is received and the Company receives its final report from its consultants.

Aus Hommel aktuellem Silverreport:

Last, but not least, Kenrich-Eskay is an exploration play. One of the top 5 silver mines in the world is the Eskay Creek silver mine currently operated by Barrick, formerly owned by Homestake, which was acquired by Barrick. Kenrich-Eskay’s property is 10 km south of Eskay Creek. Kenrich-Eskay is discovering Eskay type mineralization in the Eskay Camp. One grab sample from the C10 Zone contained 23,726 g/t silver. That’s 741 oz./tonne! See press release Oct. 6th. Kenrich-Eskay’s market cap is about $12 million dollars. (29.2 million shares fully diluted (July, 2004)) Homestake was willing to pay up to about $50 million for Kenrich-Eskay back in 1996

Vancouver, BC – KENRICH-ESKAY MINING CORPORATION (the “Company”) is pleased to announce continuing excellent results from its 100% owned Corey property, in north-western British Columbia. The Corey property is a large land package consisting of over 25,000 acres that is located on strike, just 10 km south of the exceptionally rich Eskay Creek gold mine owned and operated by Barrick Gold Corp. Excellent results from the Phase One exploration program led the Company to undertake an additional 50% more sampling and mapping on the extensions of the Virginia, Battlement and C10 zones and on prospective belts located in the north-central area of the Corey.

Now, after completion of Phase Two, the Company is pleased to announce further assay results on the new Smitty massive sulphide discovery. The data is from chip samples across the width of the massive sulphide lens with a spacing of about 1 metre between samples:

SAMPLE
Width
Copper
Lead
Zinc
Silver


(m)
(%)
(%)
(%)
(g/t)

139511
0.6
0.71
0.15
7.18
132

139512
0.9
0.62
0.14
4.32
159

139513
0.6
0.68
0.17
8.71
356

139514
0.5
1.10
0.28
13.75
188

The results are obtained on a rock face exposed on the Cumberland-South Unuk Zone, lying on the western flank of Mt. Madge. The massive sulphides are comprised of bedded sphalerite, pyrite, chalcopyrite, tetrahedrite and galena in a Salmon River formation mudstone. The massive sulphides and mudstone are within a wider band of rhyolite, intermediate volcanics and volcaniclastic sediments close to the contact with overlying basalt correlative with the Eskay rift volcanic-sedimentary succession. Silver- and zinc-rich massive sulphides indicate a very strong potential for the zone to host a gold-silver-zinc massive sulphide body.

The Smitty and the recently discovered Angela Creek occurrences join the Cumberland and HSOV Showings as true volcanic-hosted massive sulphide occurrences that have been discovered in outcrop on the Corey property. Massive sulphides and their enclosing mudstone host rocks are recessive weathering and are rarely found in outcrop. The main Eskay Creek massive sulphide deposits are “blind” and were discovered during diamond drilling activities. Within the distinctive Eskay-Corey volcanic-sedimentary rift belt, massive sulphides have been found in outcrop only on the Corey property.

To further confirm the potential of the Corey massive sulphide and stockwork zones, extensive sampling was done for lead isotope signatures, age determinations and for whole rock lithogeochemical analyses. A total of over 400 samples have been taken to characterize the volcanics, intrusions and sulphide mineralization. With 300 of 400 results received, the central axis of the Corey property is shown to contain volcanic and sedimentary rocks that have a distinctive Eskay-type whole rock lithogeochemical signature. These distinctive rocks are rare in the Eskay camp, are well-mineralized, and occur in a well-defined zone that passes from the Eskay property, southward onto the Corey.

The Cumberland and the Smitty are the only known VMS showings outside of the Eskay Creek property to have the characteristics of Eskay VMS deposits. Importantly, these occurrences are on surface rock exposures. Drilling promises to extend these showings and to test their hosting mudstones along strike, where 5 km of strong multi-element geochemical anomalies (Ag-Au-Cu-Zn-Pb-As-Sb) extend south-eastward along the strike of a sequence of mudstones, basalts and felsic volcanic rocks of the Eskay signature. These numerous geochemical anomalies suggest additional buried polymetallic VMS targets.

In preparation for an early spring 2005 drilling program, drill pads on the C10 and Smitty sites were constructed to facilitate a rapid start-up. The Company is beginning its plans for an aggressive program of diamond drilling in 2005. Targeting will be finalized as part of the Technical Report from the Company’s consulting geologists.

Further analytical results, lead isotope determinations from the Mineral Deposits Research Unit (MDRU) at the University of British Columbia and an interpretation of the lithogeochemical sampling are pending, and are expected in late November / early December.

The geological information herein has been reviewed and approved by Paul J. McGuigan, P. Geo. who is the Company’s Qualified Person.

Pursuant to its stock option plan, the company has granted incentive stock options to eligible recipients entitling them to purchase up to 689,446 common shares at a price of $0.65 cents

for up to two years.

November 30, 2004 Symbol: KRE: TSX – V

DISCOVERY OF NEW ESKAY-TYPE ROCKS AND MINERALIZATION ADDS TO POTENTIAL OF COREY PROPERTY, ESKAY CAMP

--------------------------------------------------------------------------------

Vancouver, BC – KENRICH-ESKAY MINING CORPORATION (the “Company”) is pleased to announce continuing excellent results from its 100% owned Corey property, in north-western British Columbia. The Corey property is a large land package consisting of over 25,000 acres that is located on strike, just 10 km south of the world-class, exceptionally rich, Eskay Creek gold mine owned and operated by Barrick Gold Corp.

Sulphide samples were collected in September 2004 by Dr. Jim Mortenson, Professor at the University of British Columbia and a researcher with the Mineral Deposit Research Unit (MDRU), in an effort to establish the age of the principal mineralized zones at Corey. These samples were analysed for lead-isotopes at the Pacific Centre for Isotopic and Geochemical Research (PCIGR) in Vancouver. Lead-isotope analyses have clearly demonstrated that the massive sulphide mineralization at both the Smitty and Cumberland showings are of Jurassic age. Smitty mineralization also lies well within the age range of the Eskay Creek deposit. Additional lead-isotope analyses for sulphides from the C10 and HSOV zones are ongoing with results expected in the next month.

The Company is very encouraged by these highly significant results which conclusively show that the best massive sulphide occurrences at Corey are of the same age as the Eskay Creek Deposit.

The Company’s 2004 work program on the Corey property was designed to trace, and to test at close intervals, the volcanic and sedimentary horizons of the favourable Eskay-rift succession as it passes south-south-eastward across the Corey. Results are now in hand for the most of the Company’s rock, lithogeochemical and stream sediment sampling. These definitive results trace the Eskay-rift strata on the Corey for over 10 kilometres of strike length. This compares to the 7.5 kilometres combined strike length of the Eskay-rift strata on the Eskay and SIB properties that abut the north boundary of the Corey property.

The volcanogenic massive sulphides at the newly discovered Smitty (Silver-Zinc-Copper) showing and the Cumberland zone (Gold-Silver-Zinc-Copper), occur within mudstones and basalts that are deposited within a rift-filling succession of bimodal (basaltic to rhyolitic) volcanic rocks and related conglomerates with the distinctive Eskay-rift lithogeochemical signature. This succession occurs in a band extending northwest to southeast, across the centre of the Corey property. Both the Smitty and the Cumberland showings were responded in the 2004 stream geochemical survey and confirm the value of that survey for detecting hidden Eskay-type massive sulphides on the Corey. Combining the geological mapping, lithogeochemistry, lead-isotope and stream geochemical surveys, the Company’s geologists have identified over 20 localities for first-priority follow-up by trenching and diamond drilling in early 2005.

These results have shed an entirely new light on the potential of the Corey property: the property is central to the north-south trending Eskay-rift and contains all the proper ingredients for exploration success.

The geological information herein has been reviewed and approved by Paul J. McGuigan, P. Geo. who is the Company’s Qualified Person.

On behalf of The Board of Directors of Kenrich-Eskay Mining Corporation.

Private Placement Opportunity: Dec. 8th
Kenrich Eskay

I believe Kenrich-Eksay is a key example of the opportunities that
exist among the junior exploration companies today. This property was once
purchased for about $50 million by Homestake, yet today, the market cap
is a mere $17 million! That's the opportunity created for us by the
mistakes of the major gold mining companies, who were hit with low gold
prices in 1999 to 2001, then got caught short selling gold at the bottom
of the market, and to survive, they stopped all exploration projects,
including this one!

Fully diluted shares: 29.2 mil shares fully diluted (July, 2004)
(Plus about 12 million shares after this offering is filled.)

Price of the offering: $.75/share with a half warrant at $1.10, good
for a year.
Or $.85 for flow through units for Canadians.

Updated Excerpt from
http://www.silverstockreport.c…s/silverstockreport53.htm

* KRE.V KREKF.PK (KENRICH ESKAY) (I own shares)
http://www.kenrich-eskay.com/
info@kenrich-eskay.com
Toll-free 1-888-805-3940 or (604) 682-0557
29.2 mil shares fully diluted (July, 2004)
@ $.69/share Cdn x .84 US/Cdn = $.58 US
$17 mil MC
Kenrich Eskay's "Cory" property (25,000 acres, 100% owned) is 10km
south of Barrick's silver property, Eskay Creek, which is "the fifth
largest silver producer in the world", with a reserve "at the beginning of
2001, 1.42 mil tons, grading 1.5 ounces/ton of gold, and 68.3
ounces/tonne of silver, 3.2% lead, 5.2% zinc.--That's Barrick's Eskay Creek
property. Kenrich Eskay is hoping to find something similar nearby. (See 5th
slide of
http://www.kenrich-eskay.com/i…sentation_files/frame.htm
70% of the rights to The Property was once almost bought by Homestake
(which was acquired by Barrick) for $35 million in 1996, and Homestake
was going to fund all exploration and development. The buy out ended
when metals prices collapsed, and Bre-X hit, and when the majors cut back
on exploration budgets to stay alive. This means the market cap of
KRE.V may be worth 100% / 70% x $35 million, or $50 million, plus
exploration and development costs, to a major mining company, and likely worth
much more today, due to inflation of the dollar, and the rise in the
price of silver!

I own shares of KRE.V

Kenrich-Eskay is my 4th largest holding.
For reference, Capstone Gold is my 9th largest holding.
Silvercrest Mines is my 10th largest holding. Since I sent my notice
out about Silvercrest last week to this list, 11 people contacted
Silvercrest, asking for subscription documents.

For about two and a half months, I was unable to send out any PP
notices, because I did not know of any. Now, there are three available to
choose from... That's just the way it goes in this business.

It's funny, because I would have thought that people would be
scrambling to participate in what little is left available in each of these
three private placements that are all just about finished. However, then I
realized the truth of what I have been "preaching" all along in my
reports. I say:

Long before 1% of U.S. paper dollars tries to buy gold, (about $300
billion), gold will be going up well over $1000/oz., and silver will be
headed up over $50/oz.

The correlary to this must also remain true. Meaning, it is impossible
for the public to get excited about silver, in numbers exceeding 1%,
until well AFTER silver hits $50/oz.! Thus, silver prices will climb
relentlessly, and the silver stocks too, with virtually "nobody"
invested--except the few who are able to act on what they know about how little
gold and silver is really available.

December 1, 2004
Symbol: KRE: TSX – V (KRE.V at Yahoo!)

NEWS RELEASE

CDN$6 MILLION BROKERED PRIVATE PLACEMENT


Vancouver, BC – KENRICH-ESKAY MINING CORPORATION (the “Company”) is
pleased to announce that it has agreed to an up to $6,000,000 brokered
private placement (the “Offering”) which will be conducted by Integral
Wealth Securities Limited (the “Agent”) of Toronto. The Offering will
consist of a combination of flow-through units (“FT Units”) and
non-flow-through units (“NFT Units”). The FT Units will be sold at a deemed
price of $0.85 per and will consist of one flow-through Common share and
one-half of one non-flow-through warrant, where one whole warrant will be
required to purchase an additional non-flow-through Common share for
one-year from closing at a price of $1.10. The NFT Units will be sold at
a deemed price of $0.75 per and will consist of one non-flow-through
Common share and one-half of one non-flow-through warrant, where one
whole warrant will be required to purchase an additional non-flow-through
Common share for one-year from closing at a price of $1.00. The e
xact breakdown of FT Units/NFT Units will be disclosed after closing.
The Company has agreed to pay to the Agent:
a) a corporate finance work fee of $15,000;
b) a cash commission of 8% due at closing; and
c) broker’s warrants equal to 9% of the number of FT
Units and NFT Units sold pursuant to the Offering. Each broker’s
warrant will be exercisable to purchase one Common share at an exercise price
of $0.75 per share for a period of 2-years from closing.
The Company will use the gross proceeds from the FT Unit Offering for
exploration and development of its Corey Property at Eskay Creek to
incur expenditures which qualify as Canadian Exploration Expense for the
purposes of the Income Tax Act (Canada). The Company intends to renounce
such expenses to the subscribers with an effective date no later that
December 31, 2004. The gross proceeds from the NFT Offering will be
used to provide a working capital reserve.
On behalf of The Board of Directors of Kenrich-Eskay Mining
Corporation.

For information about the company, contact:

Wally Boguski web@kenrich-eskay.com
1 866 204 3223
604 682 0557

January 7, 2005 Symbol: KRE: TSX – V

NEWS RELEASE

ADDITIONAL FUNDS AT CLOSING - NEW CDN$5 MILLION NON-BROKERED PRIVATE PLACEMENT

Vancouver, BC – KENRICH-ESKAY MINING CORPORATION (the “Company”) is pleased to announce that at year-end it received an additional $253,350.00 in flow-through unit subscriptions from the December 2004 brokered private placement financing, for a total of $1,500,875.10 in flow-through and non-flow-through gross proceeds. This Closing was to satisfy “Revenue Canada’s” flow-through requirements, for subscribers for the tax year 2004.

The Company announces that it will conduct an additional non-brokered private placement offering (“Financing Two”) of up to $5,000,000. The Offering will consist of a combination of flow-through units (“FT Units”) and non-flow-through units (“NFT Units”). The FT Units will be sold at a price of $0.85 each and will consist of one flow-through Common share and one-half of one non-flow-through warrant, where one whole warrant will be required to purchase an additional non-flow-through Common share (a “Warrant Share”) for one-year from closing at a price of $1.10. The NFT Units will be sold at a price of $0.75 each and will consist of one non-flow-through Common share and one-half of one non-flow-through warrant, where one whole warrant will be required to purchase a Warrant Share for one-year from closing at a price of $1.00. The exact breakdown of FT Units/NFT Units will be disclosed after closing. The Company may pay finder’s fees at up to the maximum allowed by the policies of the TSX Venture Exchange.

The Company intends to use the gross proceeds from the flow-through portion of Financing Two for the exploration and development of its Corey Property at Eskay Creek - to incur expenditures which qualify as Canadian Exploration Expense for the purposes of the Income Tax Act (Canada). The Company intends to renounce such expenses to the subscribers with an effective date no later than December 31, 2005. The net proceeds from the non-flow-through portion of Financing Two will be added to unallocated working capital.