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Red Mountain Update - DDH04-19, 101 m of 0.8 g/t Gold

September 9, 2004
ASC Industries Ltd. has released the following assay results from DDH04-19 on its Red Mountain property, Yukon.

DDH04-19 was drilled to a total depth 190.2 metres (624 feet). Core assays have produced 101 metres averaging 0.80 gram per tonne gold. Higher grade intersections included are as follows:

From-to Width Gold
(m) (m) (g/t)

67-113 46 0.86 (x)
98-118 20 1.01
128-167 39 0.90 (xx)

(x) Includes (from 88 to 113 metres) 15 metres of 1.17 grams per tonne gold.
(xx) Includes (from 134 metres 146.36 metres) 12.36 metres of 1.29 grams per tonne gold.

DDH04-19 was drilled in an opposing southwest direction from the other drill holes in the Jethro structure. This confirms that the Jethro structure hosted gold mineralization dips further to the southwest. Gold values continue at depth (2.2 metres at EOH (188 metres to 190.2 metres) averaged 0.70 gram per tonne gold).

The gold mineralization within the Jethro structure has a strike length of approximately 1.2 kilometres and is open to the northwest and the southeast.

An additional 109 claims have been staked jointly with Regent Ventures Ltd. The new claims are located to the southeast of the Regent Hobo Creek claims. The company has optioned the Hobo Creek property from Regent Ventures Ltd., as reported in Stockwatch on June 24, 2004. This additional ground extends the property to 394 claims. The company continues its 2004 drilling and exploration program on the BX group of claims optioned from Regent Ventures Ltd. Drilling is currently in progress to confirm the extent of gold mineralization found in the 2003 DDH03-39, located on the Treadwell structure. The 2004 exploration program at Red Mountain, including the supervision and collection of core samples, is being conducted and managed by Aurum Geological, under the direction of Al Doherty, PGeo, a qualified person under NI 43-101.
 
     
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