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Ed Monton

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Ed Monton

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Re: None

Thursday, 02/19/2004 11:36:25 AM

Thursday, February 19, 2004 11:36:25 AM

Post# of 5067
PilaGold Reports more High Grade Results from San Ramon
Project, Nicaragua

VANCOUVER, BRITISH COLUMBIA--PilaGold ("Pila") is pleased to
report that high grade gold results have been returned from
recent sampling of the Canton vein on its San Ramon project in
Nicaragua. These results highlight the potential of the historic
San Ramon camp which will be a high priority drill target for
Pila in the first half of 2004.

Highlights of the current sampling from the main adit at Canton
include:


/T/

- 24.8 g/t Au over a width of 2.3m (samples 498 & 497)
- 38.9 g/t Au over 1.0m
- 30.7g/t Au over 1.4m
- 16.3 g/t Au over 1.7m (samples 479 & 478).

/T/

A full table of results is given below.

A weighted average grade for all 22 vein samples collected in the
current sampling is 13.4 g/t Au. (This is the weighted average of
19 sample sections collected every 5-7m over 120-130m of strike
length of vein, totaling approximately 24.8m of sampling.)

The 11 wall rock samples returned a weighted average of 2.37 g/t
Au. (The footwall samples tend to be higher grade than the
hanging wall samples.)

The results indicate that the unmined portions of the Canton vein
are likely to be high grade and that potentially economic gold
grades continue into the vein wall rocks.

Pila's drill contractor is currently importing a drill rig into
Nicaragua and first phase drilling - to test for extensions of
the known and newly discovered veins - is planned for San Ramon
towards the end of the first quarter of 2004.

The San Ramon district comprises several major high-grade gold
quartz veins, a number of which were mined in the early- to
mid-1900s. In October 2003, PilaGold reported encouraging results
from some of the historic workings (see press release NR2003-20,
October 8, 2003). The current results are from the Canton vein,
which was mined over a vertical extension of 150m along 350m of
strike length in the first half of the 1900s.

Canton Vein

PilaGold's recent sampling was designed to test the wall rock
where possible, and to confirm high-grade results obtained from
the vein by government geologists in the 1980s which ranged from
5 g/t Au to 30 g/t Au range. The present sampling was confined to
workings along the vein below surface and indicates that the
1980s sampling was accurate. 


 
  
 --------------------------------------------------------------------- 
 Sample No.           Description           Width (a)           Au g/t 
 --------------------------------------------------------------------- 
                                                              
 --------------------------------------------------------------------- 
 468                         Vein                1.2             30.70 
 --------------------------------------------------------------------- 
 469                         Vein                1.0             25.37 
 --------------------------------------------------------------------- 
 470                  Hangingwall                1.0              0.28 
 --------------------------------------------------------------------- 
 471                     Footwall                1.7              0.13 
 --------------------------------------------------------------------- 
 472                     Footwall                1.3              0.17 
 --------------------------------------------------------------------- 
 473                         Vein                1.3             11.73 
 --------------------------------------------------------------------- 
 474                         Vein                1.4             21.10 
 --------------------------------------------------------------------- 
 475                  Hangingwall                1.3              0.15 
 --------------------------------------------------------------------- 
 476                         Vein                0.9              4.20 
 --------------------------------------------------------------------- 
 477                  Hangingwall                1.0              0.16 
 --------------------------------------------------------------------- 
 478                     Footwall                0.7              1.22 
 --------------------------------------------------------------------- 
 479                         Vein                1.0             18.97 
 --------------------------------------------------------------------- 
 480                     Footwall                1.0              3.87 
 --------------------------------------------------------------------- 
 481                         Vein                1.1             23.03 
 --------------------------------------------------------------------- 
 482                         Vein                1.1              3.57 
 --------------------------------------------------------------------- 
 483                         Vein                1.0              6.57 
 --------------------------------------------------------------------- 
 484                     Footwall                1.0              3.47 
 --------------------------------------------------------------------- 
 485                         Vein                0.9              3.13 
 --------------------------------------------------------------------- 
 486                         Vein                1.0              2.89 
 --------------------------------------------------------------------- 
 487                         Vein                1.3             13.80 
 --------------------------------------------------------------------- 
 488                         Vein                1.0              4.33 
 --------------------------------------------------------------------- 
 489                         Vein                1.1              2.92 
 --------------------------------------------------------------------- 
 490                  Hangingwall                1.2              0.21 
 --------------------------------------------------------------------- 
 491                     Footwall                0.9              0.73 
 --------------------------------------------------------------------- 
 492                         Vein                1.2              0.39 
 --------------------------------------------------------------------- 
 493                         Vein                1.2              5.40 
 --------------------------------------------------------------------- 
 494                         Vein                1.5              2.68 
 --------------------------------------------------------------------- 
 495                  Hangingwall                1.0              6.17 
 --------------------------------------------------------------------- 
 496                         Vein                1.4             30.70 
 --------------------------------------------------------------------- 
 497                         Vein                1.0             15.87 
 --------------------------------------------------------------------- 
 498                         Vein                1.3             31.73 
 --------------------------------------------------------------------- 
 499                         Vein                0.9              9.27 
 --------------------------------------------------------------------- 
 500                         Vein                1.0             38.87 
 --------------------------------------------------------------------- 
 (a) All true widths


.......................


A map showing all of the samples and key sample sections can be
downloaded from PilaGold's web site at www.pilagold.com.



Rosamond Vein

Two trenches were also dug on the western extension of Rosamond
vein. Located 1.5km southeast of the Leonesa, the Rosamond Vein
strikes east-west and dips to the north at 45 degrees to 60
degrees. The vein was mined over a strike length of 500m, but the
depth of mining is unknown. In 2003, Pila's sampling tested the
gold potential in the hangingwall and footwall zones over 150m
strike length returning a best result of 12.3g/t Au over 4.5m.
There is no evidence that the western extension of Rosamond was
ever mined.

This year's sampling returned 19.5 g/t Au over 1.5m, and 4.9 g/t
Au over 1.4m in the vein, with values of up to 2.4 g/t Au over 2m
in the hangingwall. Further work is required at the Rosamond
vein.

Background Information

Pila has an option to earn a 70% interest in Chorti Holdings
A.V.V., the corporation that holds a 100% interest in the San
Ramon concession. To acquire this interest, Pila has to make cash
payments totaling approximately US$350,000 and spend US$2 million
in exploration expenditures on the concession over a three year
period. Following the earn-in, Mr. Frank Mena, the optionor of
the concession, has the right to elect to go forward with a 30%
working interest or reduce to a 4% NSR. If Mr. Mena elects to
reduce to a 4% NSR, Pila has the right to purchase 2% upon a
production decision.

Qualified Person

Peter Thiersch, M.Sc. P.Geo. is the Qualified Person as defined
by National Instrument 43-101 and has verified that the results
presented in this release have been accurately summarized from
the official assay certificates provided to the Company. All
samples were prepared and analysed at the CAS Labs Inc. (CAS)
facility in Tegucigalpa, Honduras. CAS, based in Washington
State, has provided analytical services to the gold and silver
mining/exploration industries since 1989.

ON BEHALF OF THE BOARD

Simon Ridgway, President

Shares Issued: 23.1 million

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
PilaGold Inc.
Simon Ridgway
President
(604) 801-5432 or Toll Free: 1-888-627-9378
(604) 662-8829 (FAX)
Email: info@pilagold.com
Website: www.pilagold.com
The TSX Venture Exchange has not reviewed and does not take
responsibility for the adequacy or accuracy of this release.


Ed

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