Golden Cycle Gold Corporation

– SAR Philippine Prospect
– CC&V Gold Mining Company
– Table Top Gold Prospect
– Illipah Gold Prospect
– Colorado Exploration
Philippine Prospect – Asia

The Philippines has been one of the world's top ten producers of gold, copper, and chromite for decades. Golden Cycle Gold Corporation believe that the claim area, the Saggitarius Alpha Realty group, which the Company has joint ventured with Benguet Corporation, has excellent prospecting potential. During 1997 and 1998 the Company conducted geological mapping, grid soil sampling and analysis, and stream sediment and water analysis. This work indicates the presence of sizable areas interpreted to have anomalous gold concentrations. These claims must be further tested to properly evaluate their gold potential. Further exploration has not been carried out as the old leased claims have not as of this date been awarded the Mineral Production Sharing Agreement (MPSA) as required by the 1995 Philippine Mining Law. Thus, all work on this project has been placed on a standby basis until the MPSA is awarded to the claim owner. However, in a recent Northern Miner article, Richard Graham states that "recent discoveries of new gold-copper deposits, combined with the expansion of several known deposits, is attracting attention to the Philippines". We believe the current government administration is moving in a positive direction that will translate into a more mining friendly political environment, which, in turn, will allow the Company to proceed in the development of the promising SAR property group.