Category: Uncategorized
June 25, 2002

News Release: Gentry Production Volumes Exceed 2000 boe Per Day

Gentry Resources Ltd. ("GNY-TSX")
Gentry Resources Ltd. (“Gentry”) is pleased to announce that, as a result of recent drilling programs, the Company’s production volumes have increased to 2,020 boe per day. At Princess, the Company continues to move aggressively forward on its large land position. Gentry and its partner have purchased a gas plant capable of processing 12-15 mmcf/d of raw gas and are currently working on the logistics of moving the facility to the Company-operated site situated very close to a meter station and electrical power source. Gentry is taking a proactive role in keeping area residents and interest groups apprised of its activities and expects, as announced previously, that first production will occur September 1. The Company anticipates drilling two additional wells in Princess this summer with more wells to follow in September and the fourth quarter. Both Mississippian and Devonian reservoirs are targeted in this 70-section fairway.

The Company has recently tied in two wells in its Red Willow core area, which are producing at 1.2 mmcf/d (net 800 mcf/d). Total production from the Red Willow area is currently 3.5 mmcf/d net to Gentry. The Company continues to evaluate its land holdings in Red Willow and expects to drill at least one more development well by year-end.

A successful development well was recently drilled at Baldwinton, and another successful horizontal well in the Virden Roselea Unit, with additional wells planned.

Company activity over most of Gentry’s various Saskatchewan unitized interests continues at a rapid pace. Some of these programs include participating in infill drilling programs and facilities upgrades, which all add up to support excellent reserve declines (4% to 7%) over most of the properties. As Gentry continues its successful exploration programs for gas in southern Alberta, our technical team will spend more time expanding oil prospects in this part of Saskatchewan.

Gentry currently trades on the Toronto Stock Exchange under the symbol “GNY” and has 22,061,243 common shares issued and outstanding.

For Details, Contact:
Hugh Ross, President & Chief Executive Officer (403) 264-6161
R. Gordon McKay, Chief Operating Officer (403) 264-6161
Roger Fullerton, Manager, Investor Relations (952) 929-7243

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