Continental Caretech Corp. -- update.

TORONTO--(BUSINESS WIRE)--Jan. 9, 1996--Continental Caretech (Canadian Dealing Network: CNCC) update:

THUNDER LAKE WEST

Continental Caretech is pleased to announce the following results from three drill holes on its Thunder Lake West property. This project is a joint venture between

Continental Caretech Corporation and Teck Corporation and represents the latest in an ongoing exploration program which totals, to date, approximately 90,000 feet of drilling and expenditures in excess of $3,000,000. The current program consists of approximately 12,000 feet of diamond drilling, of which 5,656 feet have been completed.

These most recent, widely spaced holes, are the first in a series of deep holes designed to test a gold bearing alteration corridor to the east and west of the more intensely drilled No. 1 Shoot area. High grade results have been previously reported from this shoot.

The first of the three holes, TL-125, intersected the target zone at a vertical depth of 1,037 feet and is located 335 feet east of the nearest hole drilled in a previous program.

The second hole, TL-126, intersected the target zone at a vertical depth of 1,450 feet and is located 650 feet east of TL- 125. The third hole, TL-127, intersected the target zone at a vertical depth of 1,575 feet, is located 649 feet east of TL-126, and 1,299 feet east of TL-125.

The holes tested the zone returning the following gold values:

HOLE                 TRUE THICKNESS           GRADE/AU

TL-125               4.8 FEET                 3.68 OZ/TON
TL-126               6.5 FEET                  .32 OZ/TON (X)
TL-127               3.2 FEET                 0.08 OZ/TON (XX)
                 AND 6.5 FEET                 0.05 OZ/TON (XX)

(X) Includes an interval of 3.8 feet assaying 0.52 oz/ton (XX) The significance of an intersection of 0.12 oz/ton gold over a core interval of 4.9 feet in the hanging wall well above the main horizon is unknown at this time.

The drill rigs have now been moved to the west of the No. 1 Shoot area. Drilling of at least three additional, deep, widely spaced holes, will begin immediately.

AUBREY PROPERTY

Caretech has the right to earn a 50 percent interest in this Teck property located 24 miles west of Dryden, Ontario. A single short hole, TAE-02, has been drilled to further test a zone of alteration and anomalous gold mineralization intersected in hole TAE-01. Additional anomalous mineralization was encountered but no further drilling is planned at this time.

This press release has been approved by Teck Exploration Ltd.

CONTACT: Continental Caretech Corp., Toronto

Peter Walker, 416/482-8606 REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-236-4266 or