Waseco Resources Inc - News Release

Attawapiskat Drilling Program

Waseco Resources Inc "YRI" TSX-V
September 13, 2004 News Release

Toronto - September 13th, 2004-Waseco Resources Inc. is diamond drilling one of several targets identified initially from airborne geophysics and then from a detailed total field magnetic survey over selected portions of the Company's Attawapiskat Diamond Project, in northwestern Ontario.

The target is situated to the east of the De Beers Uniform Pipe discovery. The target is comprised of two anomalies represented by magnetic high signatures. One is egg shaped in appearance, being approximately 100 meters in length and 50 meters in width; the second, approximately 75 meters to its south, is circular, measuring approximately 25 meters in diameter. The dip appears to be near vertical.

This target area is highly prospective for diamondiferous kimberlites. In addition to the Uniform Pipe, which is reported to be diamond bearing and is in immediate proximity of the target, numerous diamond pipes and dykes occur around the survey area. Specifically, the De Beers' Victor Pipe, and Spider/KWG's MacFadyen project, being a cluster of pipes and an associated northwest trending kimberlitic dyke located immediately southwest of the property, are currently being investigated for commercial mining.

The Heath & Sherwood light weight JKS 300 drill, using BW thin wall core, is being made available by Spider Resources and KWG, who are jointly conducting an ongoing program on the adjacent property to the west. The Company is pleased to have a suitable drill, an experienced crew, and to be able to realize significant cost savings by using our neighbour's infrastructure. The drill was moved on to the property on Sunday and drilling is scheduled to start today under the direction of Dr. Howard Lahti, Ph. D. Geo., who is a qualified person under NI 43-101.

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). Waseco currently has 26,201,321 common shares outstanding. Further corporate information can be found on the Company's web site at www.wasecoresources.com.

 
ON BEHALF OF THE BOARD
 

Richard Williams
President

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

 

 
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