Stealth Minerals Limited
TSX VENTURE : SML

Stealth Minerals Limited

November 16, 2005 10:30 ET

Placer Dome and Stealth Minerals Execute Option Agreement

TORONTO, ONTARIO--(CCNMatthews - Nov. 16, 2005) - Placer Dome (CLA) Limited ("Placer") (TSX:PDG)(NYSE:PDG)(ASX:PDG)(SWX:PDG)(BOURSE:PDG) and Stealth Minerals Limited ("Stealth") (TSX VENTURE:SML) have entered into an Option Agreement (the "Agreement") pertaining to the acquisition by Placer of an interest in Stealth's Toodoggone area properties in north central British Columbia. The Agreement calls for a payment of $500,000 by Placer to be applied towards Stealth's 2006 exploration program with Stealth committed to fund a further $500,000 towards the 2006 exploration program.

Under the terms of the Agreement, Stealth divided its 60,000 hectare land position into eleven Claim Packages. The Agreement, initially, provides for preliminary exploration on four of the eleven Claim Packages. Fieldwork will consist of geological mapping, sampling, geophysics and 2,000 metres of core drilling. The parties have agreed on the areas for the 2006 exploration program and Stealth is to be operator for that program.

The Agreement enables Placer to review all property data and select one Claim Package within 30 days after the first year of the Agreement (this period can be extended by one year by mutual consent). Placer can earn a 51% interest in such Claim Package by spending $3 million over 3 years, of which $500,000 is committed in the first year. Placer may earn an additional 19% by producing a bankable feasibility study.

Placer also has the right to select additional Claim Packages in the first year and will pay $100,000 for each Claim Package selected. Placer can earn a 51% interest in each such Claim Package by spending $3 million on the Claim Package over 3 years, of which $500,000 is committed in the first year. Placer can earn an additional 19% by producing a bankable feasibility study on the Claim Package. The Option Agreement can be extended for one year by mutual consent.

Stealth's management believes that Placer's decision to enter into the Option Agreement represents an endorsement of Stealth's Toodoggone Project.

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