16,064,925 shares issued and outstanding

Date: November 3, 1997

Millstream Mines Ltd. announces today that it has completed a private placement of 600,000 Units for its capital stock at a subscription price of $0.30 per Unit for an aggregate consideration of $180,000. Each Unit is comprised of one (1) common share and one (1) common share purchase warrant. The warrants have an exercise price of $0.30 a share.

 The subscriber is a corporate entity associated with Augen Capital Corporation, a merchant bank with Mr. J. David Mason, M.Eng. as C.E.O., specializing in financing junior resource companies. The group is sourcing $500,000 of flow-through funding for Millstream’s "deep drilling program" at Matheson, northern Ontario, (Cu/Zn) Potter Mine Property.

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