Miramar Mining & Hope Bay Gold Further Define Naartok Discovery at Hope Bay

- Drill Hole M143 intercepts 8.7m true width averaging 22.9 g/t gold -



HGC - TSE

MAE - TSE

MAENF-OTC Bulletin Board



Apr 26, 2001, 01:00 ET from Miramar Mining Corporation

    VANCOUVER, April 26 /PRNewswire/ - Miramar Mining Corporation (MAE-TSE)
 and Hope Bay Gold Corporation (HGC- TSE) today reported that drilling has
 further delineated the Naartok discovery at the Hope Bay project in Nunavut.
 In addition to the Naartok area, mineralization has been identified further
 east along the trend.  A total of 62 holes have now been drilled along the
 Naartok- Matrim-Patch trend, results for 47 of which have now been reported.
     "These results indicate the potential of the Naartok zone to host
 significant gold mineralization," said David Fennell, Hope Bay Gold's
 President and CEO. "The recognition of additional prospective areas along the
 same trend is encouraging and drilling is continuing to further define the
 potential of these areas."
 
     Naartok
     -------
     The Naartok discovery lies west of the Madrid deposit, in an area where
 discovery drill hole M92 in 2000 detected a previously unrecognized zone of
 gold mineralization. To date, approximately 38 holes have been completed in
 the Naartok area, assays for 28 of which are reported in this news release and
 seven holes were reported in an earlier release dated March 13, 2001.
     Highlights of results received to date are summarized below and details
 are attached. Results are reported uncapped and capped at a nominal 100 g/t.
 Final capping levels will be determined once all results are available. The
 intercepts are identified as to whether they occur in the main Naartok zone or
 in the hanging wall.
 
                        Naartok Drill Result Highlights
                        -------------------------------
     Hole           Zone         True    Grade     Capped   True Width  Capped
     ----           ----         ----    -----     ------   ----------  ------
     Number                     Width   (g/t Au)   Grade      (feet)    Grade
     ------                     -----   --------   -----      -----     -----
                                 (m)               (g/t Au)             (oz/t
                                 ---               --------             -----
                                                                         Au)
                                                                         ---
     M114           Naartok       3.1      14.0      14.0      10.2      0.41
     M117           Naartok       3.3      14.1      14.1      10.8      0.41
     M122            HW           1.3      97.5      97.5       4.3      2.85
     M126           Naartok      13.6      19.8      13.9      44.6      0.58
     M135           Naartok      19.3       9.6       9.6      63.3      0.28
     Including                    8.3      16.8      16.8      27.2      0.49
     M138           Naartok       5.0      11.5      11.5      16.4      0.34
     M139           Naartok       1.9      31.1      31.1       6.2      0.91
     M143           Naartok       8.7      23.1      22.9      28.5      0.67
     Including                    2.6      54.3      53.6       8.5      1.59
     And                          2.3      24.8      24.8       7.5      0.72
     M146           Naartok      10.5      10.5      10.5      34.5      0.31
     Including      Naartok       2.5      15.7      15.7       8.2      0.46
     M147           Naartok       4.9      21.0      14.8      16.1      0.61
 
     Mineralization at Naartok occurs in a zone of multi-phase brecciation,
 quartz stock working and silicification on the hanging wall of the Deformation
 Zone. This style of mineralization extends up to 500m to the west from the
 Matrim Zone at Madrid. Better mineralization appears to be localized in an
 area where the Deformation Zone is flexed, providing a possible dilation zone
 for the passage of mineralizing fluids. Drilling to date has defined a steeply
 plunging zone of widespread lower grade gold mineralization and alteration
 extending 100-250m along strike and averaging 10-25m thick. Within this zone
 are narrower areas of more intense silicification and higher-grade gold
 values. In addition, a number of intercepts have been encountered in the
 hanging wall of the main Naartok breccia zone. Work is currently underway to
 assess the potential continuity of both the overall mineralized envelope and
 the higher grade intercepts within this envelope. Additional work is planned
 to define the two hanging wall lenses.
     "These results provide encouragement that the Naartok zone could develop
 into a significant mineralized area," said Tony Walsh, Miramar's President and
 CEO. "Once we have the results of the remaining holes, we will be in a better
 position to evaluate the continuity of this mineralized zone and the higher
 grade intercepts intersected to date."
 
     Matrim
     ------
     As previously reported, the same style of mineralization seen in the
 Naartok zone continues east through the Matrim Zone adjacent to the
 Deformation Zone. However, most of the intercepts in this area appear narrower
 and lower grade, with less continuity. The better mineralization in this area
 appears to lie in the hanging wall, away from the Deformation Zone, as
 described in the Perrin Bulge Zone below.
 
     Perrin Bulge
     ------------
     Approximately 200m east of the Naartok Zone, where the north trending
 Perrin Zone intersects the Deformation Zone, a second flex or bulge in the
 Deformation Zone has been identified with associated gold mineralization.
 Zones of quartz veining and brecciation with disseminated pyrite are apparent
 on the flanks of this north trending bulge. Hole M134 reported below lies on
 the east flank of this bulge. The style of mineralization at Perrin Bulge is
 similar to that found in the Naartok Zone, although the intercepts appear to
 be wider and lower grade including higher grade intercepts.
     Results are summarized in a table below and detailed in the table
 attached to this news release.
 
                     Perrin Bulge Drill Result Highlights
                     ------------------------------------
     Hole     True Width   Grade     Capped Grade   True Width   Capped Grade
     ----     ----------   -----     ------------   ----------   ------------
     Number      (m)      (g/t Au)     (g/t Au)       (feet)      (oz/t Au)
     ------      ---      --------     --------       ------      ---------
     M134        3.7        20.0         20.0          12.1         0.58
 
     Patch Lake
     ----------
     Drilling has also tested an area approximately 400m further southeast
 along the Deformation Zone, under Patch Lake, in an areas where previous
 drilling by BHP intersected 15.5 g/t gold over 2.0m in hole M82. Recent
 drilling has intersected further gold mineralization in a setting broadly
 similar to that of Naartok and the Perrin Bulge. This mineralization is also
 associated with an apparent flex in the Deformation Zone.
 
                      Patch Lake Drill Result Highlights
                      ----------------------------------
     Hole     True Width   Grade     Capped Grade   True Width   Capped Grade
     ----     ----------   -----     ------------   ----------   ------------
     Number      (m)      (g/t Au)     (g/t Au)       (feet)      (oz/t Au)
     ------      ---      --------     --------       ------      ---------
     M106        3.8        10.8         10.8          12.5          0.32
     Including   1.4        17.6         17.6           4.6          0.51
     and         2.0        22.4         22.4           6.6          0.65
     M107        1.2       124.4         32.4           3.9          0.95
 
     Drilling is continuing in the area of holes M106 and M107, with three
 additional holes completed and awaiting assays and several additional holes
 planned to determine the potential extent and continuity of this mineralized
 area.
 
     2001 Phase 1 Program
     --------------------
     The drilling at Naartok, Perrin and Patch Lake is being undertaken as
 part of a previously announced $10 million Phase 1 work program which includes
 17,000m of core drilling designed to increase the resources in the Boston,
 Doris and Madrid areas. Details of this work program were announced in a news
 release dated January 31, 2001. The reverse circulation drilling program
 previously announced is also progressing and is currently focused north of
 Boston in the Kamik area. Results from these and other planned programs will
 be announced at appropriate times.
 
     Hope Bay Project
     ----------------
     Miramar Mining Corporation, through its wholly owned subsidiary Miramar
 Hope Bay Ltd., and Hope Bay Gold Corporation Inc. are in a 50-50 joint venture
 at Hope Bay and control virtually the entire 80km long Hope Bay Archean
 greenstone belt. There are 1.3 million oz of near surface, high-grade measured
 and indicated mineral resources within 2.46 million tonnes grading 16.9 g/t
 gold at Boston and Doris and a further 579,000 oz within 1.07 million tonnes
 grading 16.8 g/t gold at Doris in the inferred mineral resource category. In
 addition to these-higher grade mineral resources, there are significant
 additional lower grade resources at Boston and Madrid. Details of mineral
 resource estimates were reported in a news release dated November 21, 2000 and
 are available on the Miramar or Hope Bay Gold websites at
 http://www.miramarmining.com/ or http://www.hbgold.com/ along with all joint
 venture results for the 2000 work program.
 
     Quality Assurance/Quality Control
 
     These results are reported under an extensive quality control program
 supervised by Dean McDonald, P.Geo. Ph.D., Exploration Manager with Miramar
 Mining Corporation, who is an appropriately qualified person as defined by
 National Instrument 43-101. To further ensure the integrity of exploration
 results, the Hope Bay Joint Venture had Roscoe Postle & Associates
 independently audit quality control and quality assurance ("QA/QC") programs
 in place at the Hope Bay project. See News Release 00-06 dated April 11, 2000
 for details on the program. This QA/QC program includes on site control of
 core samples and a program of duplicate, check, and blank assaying, including
 check assaying at a separate laboratory. Roscoe Postle found that the quality
 of these QA/QC programs exceeded industry standards. Dr. McDonald has
 corroborated the data, including sampling, analytical and test data, on which
 the above information is based.
     All samples are assayed at TSL Laboratories in Saskatoon using standard
 sample preparation and fire assay procedures with a gravimetric finish. All
 samples assaying over 20 g/t are re-assayed with a standard metallics
 procedure.
     All resource estimates have been prepared by independent resource
 consultant Geostat Systems Inc. of Montreal with the assistance of the Hope
 Bay Joint Venture staff in accordance with the standards set out in National
 Instrument 43-101 and reviewed by Dean McDonald, P. Geo. Ph.D., Exploration
 Manager with Miramar Mining Corporation, who is an appropriately qualified
 person as defined by National Instrument 43-101. Mineral resources that are
 not mineral reserves do not have demonstrated economic viability.
 
     Maps
     Diagrams locating the areas described herein are attached to this news
 release. If you are missing these diagrams, please download this news release
 from Miramar's or Hope Bay Gold's websites at http://www.miramarmining.com/ or
 http://www.hbgold.com/, to which they are attached, or contact us at the
 numbers listed below.
 
     (x)All of the statements contained in this News Release relating to
 planned work at the Hope Bay project and the expected results of this work are
 forward-looking statements within the meaning of the United States Private
 Securities Litigation Reform Act of 1995. Information inferred from the
 interpretation of drilling results may also be deemed to be forward looking
 statements, as it constitutes a prediction of what might be found to be
 present when and if a project is actually developed. These forward-looking
 statements are subject to a variety of risks and uncertainties which could
 cause actual events or results to differ materially from those reflected in
 this forward-looking statement, including, without limitation: changes in
 planned work resulting from weather, logistical, technical or other factors;
 the results of work not fulfilling expectations and not realizing perceived
 potential; uncertainties involved in the interpretation of drilling results
 and other tests; that additional work may not support a feasibility study;
 that capital and operating costs may be higher than currently estimated and
 may preclude commercial development; accidents, equipment breakdowns and
 labour disputes or other unanticipated difficulties or interruptions; and
 other risks and uncertainties, including those described in the Miramar's
 Annual Report on Form 20-F for the year ended December 31, 1999 and Reports on
 Form 6-K filed with the Securities and Exchange Commission and Hope Bay Gold's
 Annual Information Form ("AIF") filed with the Ontario Securities Commission,
 the Quebec Securities Commission, and other regulatory authorities,
 respectively. Hope Bay Gold Corporation's AIF was filed under the previous
 name of Cambiex Exploration Inc.
 
     All resource estimates reported in this disclosure are calculated in
 accordance with the Toronto Stock Exchange national Instrument 43-101 and the
 Canadian Institute of Mining and Metallurgy Classification system. These
 standards differ significantly from the requirements of the United States
 Securities and Exchange Commission, and resource information reported in this
 disclosure may not be comparable to similar information reported by United
 States Companies. The terms "Resource(s)" does not equate to "reserves" and
 normally may not be included in documents filed with the Securities and
 Exchange Commission. "Resources" are sometimes referred to as "mineralization"
 or " mineral deposits".
 
     Certain forward-looking statements in this news release are indicated
 with a "(x)".
 
     This news release has been authorized by the undersigned on behalf of
 Miramar Mining Corporation and Hope Bay Gold Corporation Inc., respectively.
 
            Anthony P. Walsh                       David Fennell
            President & CEO                        President & CEO
       Miramar Mining Corporation           Hope Bay Gold Corporation Inc.
 
     -------------------------------------------------------------------------
                                                 Assay Results
                                ----------------------------------------------
     Hole    Area    Zone(xx)   From   To    Inter-  True   Un-       Capped
     No.                        (m)    (m)   cept    Width  capped    Grade(x)
                                             Width    (m)   Grade     (g/t Au)
                                             (m)            (g/t Au)
 
     -------------------------------------------------------------------------
     PMD105  Patch    DEFZ      208.8  210.8   2.0     1.4      6.3       6.3
 
     PMD106  Patch    DEFZ       58.5   64.0   5.6     3.8     10.8      10.8
                   including     58.5   60.5   2.0     1.4     17.6      17.6
                       and       71.0   74.0   3.0     2.0     22.4      22.4
                       and       80.0   82.6   2.6     1.8     19.9      19.9
                       and      122.5  124.0   1.5     1.0      6.2       6.2
                       and      126.5  132.5   6.0     4.1      6.1       6.1
                       and      156.0  159.0   3.0     2.1      6.8       6.8
 
     PMD107  Patch    DEFZ      110.0  111.7   1.7     1.2    124.4      32.4
                       and      130.5  131.5   1.0     0.7      7.3       7.3
                       and      134.3  135.0   0.7     0.5      5.5       5.5
                       and      203.8  204.4   0.5     0.4      7.6       7.6
 
     PMD108  Matrim   Naartok    97.9   98.4   0.5     0.4      8.8       8.8
                       and      102.5  104.0   1.5     1.3      5.1       5.1
 
     PMD109  Matrim   Naartok   116.0  116.5   0.5     0.4      6.5       6.5
                       and      122.0  122.5   0.5     0.4      6.0       6.0
 
     PMD110  Matrim     HW       32.0   32.8   0.8     0.7      6.0       6.0
                      Naartok    57.7   60.0   2.4     2.1      7.8       7.8
                       and       64.5   66.0   1.5     1.3      5.5       5.5
 
     PMD111  Naartok  Naartok   103.5  105.0   1.5     1.3     14.0      14.0
 
     PMD113  Matrim     HW       13.0   13.5   0.5     0.4     47.8      47.8
 
     PMD114  Naartok  Naartok   230.0  243.0  13.0    10.1      6.1       6.1
                    including   235.0  239.0   4.0     3.1     14.0      14.0
 
     PMD115  Naartok    HW       65.0   65.5   0.5     0.4    177.2     100.0
                        HW       89.0   90.0   1.0     0.9     17.4      17.4
 
     PMD116  Naartok  Naartok    70.0   71.0   1.0     0.9     12.2      12.2
 
     PMD117  Naartok  Naartok   143.0  144.0   1.0     0.8     18.4      18.4
                       and      156.0  156.5   0.5     0.4     61.6      61.6
                       and      161.0  165.0   4.0     3.3     14.1      14.1
 
     PMD118  Naartok  Naartok    68.8   69.3   0.6     0.5     16.4      16.4
                       and       98.5  100.0   1.5     1.1      6.8       6.8
 
     PMD119  Naartok  Naartok    41.5   45.0   3.5     3.1      9.2       9.2
                       and       52.0   53.0   1.0     0.9      5.9       5.9
 
     PMD120  Naartok  Naartok    44.0   46.0   2.0     1.8      6.4       6.4
                       and       49.0   50.0   1.0     0.9      6.1       6.1
                       and       53.0   53.8   0.8     0.7      8.3       8.3
 
     PMD121  Naartok    HW       34.1   34.6   0.5     0.4     23.5      23.5
                       and       60.9   61.5   0.6     0.5    104.8     100.0
                      Naartok   179.0  181.0   2.0     1.7     15.3      15.3
                       and      187.0  189.5   2.5     2.1     14.0      14.0
 
     PMD122  Naartok    HW      138.8  139.5   0.8     0.7      6.2       6.2
                       and      158.5  160.0   1.5     1.3     97.5      97.5
                      Naartok   240.0  241.0   1.0     0.8     11.5      11.5
 
     PMD123  Naartok  South DEFZ No significant intercept
 
     PMD124  Naartok  Naartok   234.0  234.6   0.6     0.5      7.9       7.9
 
     PMD125  Matrim     HW       16.5   17.0   0.6     0.5      9.7       9.7
 
     PMD126  Naartok  Naartok    15.7   31.5  15.8    13.6     19.8      13.9
                    including    15.7   18.0   2.3     2.0    118.6      78.3
                       and       37.9   39.5   1.6     1.4     12.2      12.2
 
     PMD127  Naartok    HW        9.3   14.0   4.8     4.1      7.1       7.1
 
     PMD128  Naartok  Naartok No significant intercept
 
     PMD129  Naartok  Naartok No significant intercept
 
     PMD130  Naartok  Naartok No significant intercept
 
     PMD131  Naartok    HW       24.5   25.0   0.5     0.4     54.5      54.5
 
     PMD132  Matrim   Naartok    53.0   54.0   1.0     0.9      5.0       5.0
 
     PMD133  Naartok    HW       87.0   88.5   1.5     1.2     28.4      28.4
                      Naartok   203.9  205.3   1.4     1.1     17.8      17.8
                       and      236.5  237.8   1.3     1.0     23.7      23.7
 
     PMD134  Matrim   Perrin     15.5   20.0   4.5     3.7     20.0      20.0
                                 75.5   76.5   1.0     0.9      8.5       8.5
                      Naartok   113.5  114.5   1.0     0.9      8.0       8.0
 
     PMD135  Naartok  Naartok    26.0   48.5  22.5    19.3      9.6       9.6
                    including    39.0   48.0   9.0     8.3     16.8      16.8
 
     PMD136  Naartok   Matrim    57.0   58.0   1.0     0.9      5.8       5.8
 
     PMD137  Naartok  Naartok    55.7   57.3   1.6     1.4     17.9      17.9
                       and       86.0  103.4  17.4    15.1      5.1       5.1
                       and      109.0  112.0   3.0     2.6     12.7      12.7
 
     PMD138  Naartok  Naartok    26.8   32.5   5.7     5.0     11.5      11.5
                       and       57.4   58.5   1.1     1.0      7.8       7.8
 
     PMD139  Naartok  Naartok   195.5  197.7   2.2     1.9     31.1      31.1
 
     PMD141  Naartok  Naartok   127.8  128.8   1.0     0.9      5.2       5.2
 
     PMD143  Naartok  Naartok   174.0  184.2  10.2     8.7     23.1      22.9
                    including   174.0  177.0   3.0     2.6     54.3      53.6
                       and      181.5  184.2   2.7     2.3     24.8      24.8
 
     PMD146  Naartok  Naartok   229.0  241.0  12.0    10.5     10.5      10.5
                    including   229.0  232.0   3.0     2.5     15.7      15.7
 
     PMD147  Naartok   HW        62.0   63.5   1.5     1.3     26.1      26.1
                      Naartok    94.4  100.0   5.6     4.9     21.0      14.8
 
 
     (x) Capped at an arbitrary 100 g/t Au. Final capping levels will be
         determined once all results have been analyzed
 
     (xx) HW equals Hanging wall lenses, DEFZ equals Deformation Zone at
          Patch Lake
 
     BUSINESS/PHOTO EDITORS: Copies of the Hope Bay Joint Venture maps of the
 "Naartok-West Zone - Longitudinal Section - April 26, 2001" and "Madrid Area
 Drilling - As of April 25, 2001" are available by fax by calling Canada
 NewsWire, Vancouver, at (604) 669-7764.
 
 

SOURCE Miramar Mining Corporation
    VANCOUVER, April 26 /PRNewswire/ - Miramar Mining Corporation (MAE-TSE)
 and Hope Bay Gold Corporation (HGC- TSE) today reported that drilling has
 further delineated the Naartok discovery at the Hope Bay project in Nunavut.
 In addition to the Naartok area, mineralization has been identified further
 east along the trend.  A total of 62 holes have now been drilled along the
 Naartok- Matrim-Patch trend, results for 47 of which have now been reported.
     "These results indicate the potential of the Naartok zone to host
 significant gold mineralization," said David Fennell, Hope Bay Gold's
 President and CEO. "The recognition of additional prospective areas along the
 same trend is encouraging and drilling is continuing to further define the
 potential of these areas."
 
     Naartok
     -------
     The Naartok discovery lies west of the Madrid deposit, in an area where
 discovery drill hole M92 in 2000 detected a previously unrecognized zone of
 gold mineralization. To date, approximately 38 holes have been completed in
 the Naartok area, assays for 28 of which are reported in this news release and
 seven holes were reported in an earlier release dated March 13, 2001.
     Highlights of results received to date are summarized below and details
 are attached. Results are reported uncapped and capped at a nominal 100 g/t.
 Final capping levels will be determined once all results are available. The
 intercepts are identified as to whether they occur in the main Naartok zone or
 in the hanging wall.
 
                        Naartok Drill Result Highlights
                        -------------------------------
     Hole           Zone         True    Grade     Capped   True Width  Capped
     ----           ----         ----    -----     ------   ----------  ------
     Number                     Width   (g/t Au)   Grade      (feet)    Grade
     ------                     -----   --------   -----      -----     -----
                                 (m)               (g/t Au)             (oz/t
                                 ---               --------             -----
                                                                         Au)
                                                                         ---
     M114           Naartok       3.1      14.0      14.0      10.2      0.41
     M117           Naartok       3.3      14.1      14.1      10.8      0.41
     M122            HW           1.3      97.5      97.5       4.3      2.85
     M126           Naartok      13.6      19.8      13.9      44.6      0.58
     M135           Naartok      19.3       9.6       9.6      63.3      0.28
     Including                    8.3      16.8      16.8      27.2      0.49
     M138           Naartok       5.0      11.5      11.5      16.4      0.34
     M139           Naartok       1.9      31.1      31.1       6.2      0.91
     M143           Naartok       8.7      23.1      22.9      28.5      0.67
     Including                    2.6      54.3      53.6       8.5      1.59
     And                          2.3      24.8      24.8       7.5      0.72
     M146           Naartok      10.5      10.5      10.5      34.5      0.31
     Including      Naartok       2.5      15.7      15.7       8.2      0.46
     M147           Naartok       4.9      21.0      14.8      16.1      0.61
 
     Mineralization at Naartok occurs in a zone of multi-phase brecciation,
 quartz stock working and silicification on the hanging wall of the Deformation
 Zone. This style of mineralization extends up to 500m to the west from the
 Matrim Zone at Madrid. Better mineralization appears to be localized in an
 area where the Deformation Zone is flexed, providing a possible dilation zone
 for the passage of mineralizing fluids. Drilling to date has defined a steeply
 plunging zone of widespread lower grade gold mineralization and alteration
 extending 100-250m along strike and averaging 10-25m thick. Within this zone
 are narrower areas of more intense silicification and higher-grade gold
 values. In addition, a number of intercepts have been encountered in the
 hanging wall of the main Naartok breccia zone. Work is currently underway to
 assess the potential continuity of both the overall mineralized envelope and
 the higher grade intercepts within this envelope. Additional work is planned
 to define the two hanging wall lenses.
     "These results provide encouragement that the Naartok zone could develop
 into a significant mineralized area," said Tony Walsh, Miramar's President and
 CEO. "Once we have the results of the remaining holes, we will be in a better
 position to evaluate the continuity of this mineralized zone and the higher
 grade intercepts intersected to date."
 
     Matrim
     ------
     As previously reported, the same style of mineralization seen in the
 Naartok zone continues east through the Matrim Zone adjacent to the
 Deformation Zone. However, most of the intercepts in this area appear narrower
 and lower grade, with less continuity. The better mineralization in this area
 appears to lie in the hanging wall, away from the Deformation Zone, as
 described in the Perrin Bulge Zone below.
 
     Perrin Bulge
     ------------
     Approximately 200m east of the Naartok Zone, where the north trending
 Perrin Zone intersects the Deformation Zone, a second flex or bulge in the
 Deformation Zone has been identified with associated gold mineralization.
 Zones of quartz veining and brecciation with disseminated pyrite are apparent
 on the flanks of this north trending bulge. Hole M134 reported below lies on
 the east flank of this bulge. The style of mineralization at Perrin Bulge is
 similar to that found in the Naartok Zone, although the intercepts appear to
 be wider and lower grade including higher grade intercepts.
     Results are summarized in a table below and detailed in the table
 attached to this news release.
 
                     Perrin Bulge Drill Result Highlights
                     ------------------------------------
     Hole     True Width   Grade     Capped Grade   True Width   Capped Grade
     ----     ----------   -----     ------------   ----------   ------------
     Number      (m)      (g/t Au)     (g/t Au)       (feet)      (oz/t Au)
     ------      ---      --------     --------       ------      ---------
     M134        3.7        20.0         20.0          12.1         0.58
 
     Patch Lake
     ----------
     Drilling has also tested an area approximately 400m further southeast
 along the Deformation Zone, under Patch Lake, in an areas where previous
 drilling by BHP intersected 15.5 g/t gold over 2.0m in hole M82. Recent
 drilling has intersected further gold mineralization in a setting broadly
 similar to that of Naartok and the Perrin Bulge. This mineralization is also
 associated with an apparent flex in the Deformation Zone.
 
                      Patch Lake Drill Result Highlights
                      ----------------------------------
     Hole     True Width   Grade     Capped Grade   True Width   Capped Grade
     ----     ----------   -----     ------------   ----------   ------------
     Number      (m)      (g/t Au)     (g/t Au)       (feet)      (oz/t Au)
     ------      ---      --------     --------       ------      ---------
     M106        3.8        10.8         10.8          12.5          0.32
     Including   1.4        17.6         17.6           4.6          0.51
     and         2.0        22.4         22.4           6.6          0.65
     M107        1.2       124.4         32.4           3.9          0.95
 
     Drilling is continuing in the area of holes M106 and M107, with three
 additional holes completed and awaiting assays and several additional holes
 planned to determine the potential extent and continuity of this mineralized
 area.
 
     2001 Phase 1 Program
     --------------------
     The drilling at Naartok, Perrin and Patch Lake is being undertaken as
 part of a previously announced $10 million Phase 1 work program which includes
 17,000m of core drilling designed to increase the resources in the Boston,
 Doris and Madrid areas. Details of this work program were announced in a news
 release dated January 31, 2001. The reverse circulation drilling program
 previously announced is also progressing and is currently focused north of
 Boston in the Kamik area. Results from these and other planned programs will
 be announced at appropriate times.
 
     Hope Bay Project
     ----------------
     Miramar Mining Corporation, through its wholly owned subsidiary Miramar
 Hope Bay Ltd., and Hope Bay Gold Corporation Inc. are in a 50-50 joint venture
 at Hope Bay and control virtually the entire 80km long Hope Bay Archean
 greenstone belt. There are 1.3 million oz of near surface, high-grade measured
 and indicated mineral resources within 2.46 million tonnes grading 16.9 g/t
 gold at Boston and Doris and a further 579,000 oz within 1.07 million tonnes
 grading 16.8 g/t gold at Doris in the inferred mineral resource category. In
 addition to these-higher grade mineral resources, there are significant
 additional lower grade resources at Boston and Madrid. Details of mineral
 resource estimates were reported in a news release dated November 21, 2000 and
 are available on the Miramar or Hope Bay Gold websites at
 http://www.miramarmining.com/ or http://www.hbgold.com/ along with all joint
 venture results for the 2000 work program.
 
     Quality Assurance/Quality Control
 
     These results are reported under an extensive quality control program
 supervised by Dean McDonald, P.Geo. Ph.D., Exploration Manager with Miramar
 Mining Corporation, who is an appropriately qualified person as defined by
 National Instrument 43-101. To further ensure the integrity of exploration
 results, the Hope Bay Joint Venture had Roscoe Postle & Associates
 independently audit quality control and quality assurance ("QA/QC") programs
 in place at the Hope Bay project. See News Release 00-06 dated April 11, 2000
 for details on the program. This QA/QC program includes on site control of
 core samples and a program of duplicate, check, and blank assaying, including
 check assaying at a separate laboratory. Roscoe Postle found that the quality
 of these QA/QC programs exceeded industry standards. Dr. McDonald has
 corroborated the data, including sampling, analytical and test data, on which
 the above information is based.
     All samples are assayed at TSL Laboratories in Saskatoon using standard
 sample preparation and fire assay procedures with a gravimetric finish. All
 samples assaying over 20 g/t are re-assayed with a standard metallics
 procedure.
     All resource estimates have been prepared by independent resource
 consultant Geostat Systems Inc. of Montreal with the assistance of the Hope
 Bay Joint Venture staff in accordance with the standards set out in National
 Instrument 43-101 and reviewed by Dean McDonald, P. Geo. Ph.D., Exploration
 Manager with Miramar Mining Corporation, who is an appropriately qualified
 person as defined by National Instrument 43-101. Mineral resources that are
 not mineral reserves do not have demonstrated economic viability.
 
     Maps
     Diagrams locating the areas described herein are attached to this news
 release. If you are missing these diagrams, please download this news release
 from Miramar's or Hope Bay Gold's websites at http://www.miramarmining.com/ or
 http://www.hbgold.com/, to which they are attached, or contact us at the
 numbers listed below.
 
     (x)All of the statements contained in this News Release relating to
 planned work at the Hope Bay project and the expected results of this work are
 forward-looking statements within the meaning of the United States Private
 Securities Litigation Reform Act of 1995. Information inferred from the
 interpretation of drilling results may also be deemed to be forward looking
 statements, as it constitutes a prediction of what might be found to be
 present when and if a project is actually developed. These forward-looking
 statements are subject to a variety of risks and uncertainties which could
 cause actual events or results to differ materially from those reflected in
 this forward-looking statement, including, without limitation: changes in
 planned work resulting from weather, logistical, technical or other factors;
 the results of work not fulfilling expectations and not realizing perceived
 potential; uncertainties involved in the interpretation of drilling results
 and other tests; that additional work may not support a feasibility study;
 that capital and operating costs may be higher than currently estimated and
 may preclude commercial development; accidents, equipment breakdowns and
 labour disputes or other unanticipated difficulties or interruptions; and
 other risks and uncertainties, including those described in the Miramar's
 Annual Report on Form 20-F for the year ended December 31, 1999 and Reports on
 Form 6-K filed with the Securities and Exchange Commission and Hope Bay Gold's
 Annual Information Form ("AIF") filed with the Ontario Securities Commission,
 the Quebec Securities Commission, and other regulatory authorities,
 respectively. Hope Bay Gold Corporation's AIF was filed under the previous
 name of Cambiex Exploration Inc.
 
     All resource estimates reported in this disclosure are calculated in
 accordance with the Toronto Stock Exchange national Instrument 43-101 and the
 Canadian Institute of Mining and Metallurgy Classification system. These
 standards differ significantly from the requirements of the United States
 Securities and Exchange Commission, and resource information reported in this
 disclosure may not be comparable to similar information reported by United
 States Companies. The terms "Resource(s)" does not equate to "reserves" and
 normally may not be included in documents filed with the Securities and
 Exchange Commission. "Resources" are sometimes referred to as "mineralization"
 or " mineral deposits".
 
     Certain forward-looking statements in this news release are indicated
 with a "(x)".
 
     This news release has been authorized by the undersigned on behalf of
 Miramar Mining Corporation and Hope Bay Gold Corporation Inc., respectively.
 
            Anthony P. Walsh                       David Fennell
            President & CEO                        President & CEO
       Miramar Mining Corporation           Hope Bay Gold Corporation Inc.
 
     -------------------------------------------------------------------------
                                                 Assay Results
                                ----------------------------------------------
     Hole    Area    Zone(xx)   From   To    Inter-  True   Un-       Capped
     No.                        (m)    (m)   cept    Width  capped    Grade(x)
                                             Width    (m)   Grade     (g/t Au)
                                             (m)            (g/t Au)
 
     -------------------------------------------------------------------------
     PMD105  Patch    DEFZ      208.8  210.8   2.0     1.4      6.3       6.3
 
     PMD106  Patch    DEFZ       58.5   64.0   5.6     3.8     10.8      10.8
                   including     58.5   60.5   2.0     1.4     17.6      17.6
                       and       71.0   74.0   3.0     2.0     22.4      22.4
                       and       80.0   82.6   2.6     1.8     19.9      19.9
                       and      122.5  124.0   1.5     1.0      6.2       6.2
                       and      126.5  132.5   6.0     4.1      6.1       6.1
                       and      156.0  159.0   3.0     2.1      6.8       6.8
 
     PMD107  Patch    DEFZ      110.0  111.7   1.7     1.2    124.4      32.4
                       and      130.5  131.5   1.0     0.7      7.3       7.3
                       and      134.3  135.0   0.7     0.5      5.5       5.5
                       and      203.8  204.4   0.5     0.4      7.6       7.6
 
     PMD108  Matrim   Naartok    97.9   98.4   0.5     0.4      8.8       8.8
                       and      102.5  104.0   1.5     1.3      5.1       5.1
 
     PMD109  Matrim   Naartok   116.0  116.5   0.5     0.4      6.5       6.5
                       and      122.0  122.5   0.5     0.4      6.0       6.0
 
     PMD110  Matrim     HW       32.0   32.8   0.8     0.7      6.0       6.0
                      Naartok    57.7   60.0   2.4     2.1      7.8       7.8
                       and       64.5   66.0   1.5     1.3      5.5       5.5
 
     PMD111  Naartok  Naartok   103.5  105.0   1.5     1.3     14.0      14.0
 
     PMD113  Matrim     HW       13.0   13.5   0.5     0.4     47.8      47.8
 
     PMD114  Naartok  Naartok   230.0  243.0  13.0    10.1      6.1       6.1
                    including   235.0  239.0   4.0     3.1     14.0      14.0
 
     PMD115  Naartok    HW       65.0   65.5   0.5     0.4    177.2     100.0
                        HW       89.0   90.0   1.0     0.9     17.4      17.4
 
     PMD116  Naartok  Naartok    70.0   71.0   1.0     0.9     12.2      12.2
 
     PMD117  Naartok  Naartok   143.0  144.0   1.0     0.8     18.4      18.4
                       and      156.0  156.5   0.5     0.4     61.6      61.6
                       and      161.0  165.0   4.0     3.3     14.1      14.1
 
     PMD118  Naartok  Naartok    68.8   69.3   0.6     0.5     16.4      16.4
                       and       98.5  100.0   1.5     1.1      6.8       6.8
 
     PMD119  Naartok  Naartok    41.5   45.0   3.5     3.1      9.2       9.2
                       and       52.0   53.0   1.0     0.9      5.9       5.9
 
     PMD120  Naartok  Naartok    44.0   46.0   2.0     1.8      6.4       6.4
                       and       49.0   50.0   1.0     0.9      6.1       6.1
                       and       53.0   53.8   0.8     0.7      8.3       8.3
 
     PMD121  Naartok    HW       34.1   34.6   0.5     0.4     23.5      23.5
                       and       60.9   61.5   0.6     0.5    104.8     100.0
                      Naartok   179.0  181.0   2.0     1.7     15.3      15.3
                       and      187.0  189.5   2.5     2.1     14.0      14.0
 
     PMD122  Naartok    HW      138.8  139.5   0.8     0.7      6.2       6.2
                       and      158.5  160.0   1.5     1.3     97.5      97.5
                      Naartok   240.0  241.0   1.0     0.8     11.5      11.5
 
     PMD123  Naartok  South DEFZ No significant intercept
 
     PMD124  Naartok  Naartok   234.0  234.6   0.6     0.5      7.9       7.9
 
     PMD125  Matrim     HW       16.5   17.0   0.6     0.5      9.7       9.7
 
     PMD126  Naartok  Naartok    15.7   31.5  15.8    13.6     19.8      13.9
                    including    15.7   18.0   2.3     2.0    118.6      78.3
                       and       37.9   39.5   1.6     1.4     12.2      12.2
 
     PMD127  Naartok    HW        9.3   14.0   4.8     4.1      7.1       7.1
 
     PMD128  Naartok  Naartok No significant intercept
 
     PMD129  Naartok  Naartok No significant intercept
 
     PMD130  Naartok  Naartok No significant intercept
 
     PMD131  Naartok    HW       24.5   25.0   0.5     0.4     54.5      54.5
 
     PMD132  Matrim   Naartok    53.0   54.0   1.0     0.9      5.0       5.0
 
     PMD133  Naartok    HW       87.0   88.5   1.5     1.2     28.4      28.4
                      Naartok   203.9  205.3   1.4     1.1     17.8      17.8
                       and      236.5  237.8   1.3     1.0     23.7      23.7
 
     PMD134  Matrim   Perrin     15.5   20.0   4.5     3.7     20.0      20.0
                                 75.5   76.5   1.0     0.9      8.5       8.5
                      Naartok   113.5  114.5   1.0     0.9      8.0       8.0
 
     PMD135  Naartok  Naartok    26.0   48.5  22.5    19.3      9.6       9.6
                    including    39.0   48.0   9.0     8.3     16.8      16.8
 
     PMD136  Naartok   Matrim    57.0   58.0   1.0     0.9      5.8       5.8
 
     PMD137  Naartok  Naartok    55.7   57.3   1.6     1.4     17.9      17.9
                       and       86.0  103.4  17.4    15.1      5.1       5.1
                       and      109.0  112.0   3.0     2.6     12.7      12.7
 
     PMD138  Naartok  Naartok    26.8   32.5   5.7     5.0     11.5      11.5
                       and       57.4   58.5   1.1     1.0      7.8       7.8
 
     PMD139  Naartok  Naartok   195.5  197.7   2.2     1.9     31.1      31.1
 
     PMD141  Naartok  Naartok   127.8  128.8   1.0     0.9      5.2       5.2
 
     PMD143  Naartok  Naartok   174.0  184.2  10.2     8.7     23.1      22.9
                    including   174.0  177.0   3.0     2.6     54.3      53.6
                       and      181.5  184.2   2.7     2.3     24.8      24.8
 
     PMD146  Naartok  Naartok   229.0  241.0  12.0    10.5     10.5      10.5
                    including   229.0  232.0   3.0     2.5     15.7      15.7
 
     PMD147  Naartok   HW        62.0   63.5   1.5     1.3     26.1      26.1
                      Naartok    94.4  100.0   5.6     4.9     21.0      14.8
 
 
     (x) Capped at an arbitrary 100 g/t Au. Final capping levels will be
         determined once all results have been analyzed
 
     (xx) HW equals Hanging wall lenses, DEFZ equals Deformation Zone at
          Patch Lake
 
     BUSINESS/PHOTO EDITORS: Copies of the Hope Bay Joint Venture maps of the
 "Naartok-West Zone - Longitudinal Section - April 26, 2001" and "Madrid Area
 Drilling - As of April 25, 2001" are available by fax by calling Canada
 NewsWire, Vancouver, at (604) 669-7764.
 
 SOURCE Miramar Mining Corporation