Waseco Resources Inc - News Release

Attawapiskat Update

Waseco Resources Inc "YRI" TSX-V
April 29, 2004 News Release

Toronto, Ontario- April 29th, 2004 - Waseco Resources Inc. ("WRI"-TSX-V) is pleased to provide an update on its ongoing exploration program at the Attawapiskat diamond property in James Bay Lowlands, in northern Ontario.

Following up on last year's airborne geophysical program, the Company retained the services of Exsics Exploration Limited of Timmins, Ontario to conduct a series of field magnetic surveys over target areas identified from the air as well as certain specific areas of interest, such as the perimeter of De Beer's Uniform Pipe claims, as well as the south-western quadrant, adjacent to the recently announced kimberlite pipe discovery by Spider Resources and KWG.

As a result of this detailed work, the drilling program has been modified to include a new target identified to the north of the Uniform Pipe. This target appears to exhibit many of the same attributes as the Uniform Pipe and is on trend with the Uniform Pipe and the Victor Pipe, currently being advanced towards production by De Beers.

The drilling program is on hold pending the spring break-up. The program is expected to resume in mid-May, when the drill crew and supplies can come in by float plane.

Waseco has an option to earn up to a 40% interest in the 2,440 acre property together with a right of first refusal to earn an additional 9% interest from Dialex Minerals Inc. (DLXM-OTC-BB). There are currently 25,741,321 shares issued and outstanding. Further corporate information can be found on the Company's web site at www.wasecoresources.com.

 
For further information, please contact:
 

Richard Williams
President
Phone: (416) 364-3123
Fax: (416) 364-5400
e-mail: Blackwell@tcn.net

 

 
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