Canadian Venture Exchange Inc.

Symbol MLM

Millstream Mines Ltd.

4 King St. W. Suite 1320            Toronto, Ontario, M5H 1B6      Tel: (416) 368-9595

Fax: (416) 368-6827

40,132,043 SHARES ISSUED





Date: Oct. 6, 2004

Oct. 5, 2004 Close: $0.065





Toronto, Ontario -- Millstream Mines Ltd. (MLM - TSX-V) wishes to announce it is commencing to diamond drill on its Montana gold prospect, the Tamarack Property. The initial vertical drill hole DDH 04-01 is targeted to core test (HQ) the horizons that Gold Fields Mining Corp. reported from a reverse circulation hole (TR-2) done in 1991. TR-2 returned gold assays of 0.244 oz. per ton over a 100 ft. interval (starting from a vertical depth of 50 ft. and continuing through to 150 ft.). The primary objectives of DDH 04-01 is to discover if the mineralization is contained in the porphyry rock, lithology and to verify the assays obtained by Gold Fields.


Chemex Labs Inc. of Nevada, USA completed the lab work which outlined the above result along with a sample recheck of the 100 foot interval.


The Tamarack Property is a former producing, high-grade gold operator in the Tobacco Root Mountains, Madison County, Montana consisting of six (6) patented claims and a further unpatented claim block tying in all claims and making them contiguous. The Tamarack Property is accessible year round, 4 miles from the town of Sheridan, on a gravel maintained road (PR June 16, 2004 and June 17, 1998).


The associated assets of the property include a new small 60 to 100 tons per day mill erected in the early 1990's and an older small 50 to 60 tons per day mill last operated in the 1960's. Additional associated assets are tailings disposal ponds, a water supply lagoon and well, compressors, bulldozers, loaders, haulage trucks; underground mining equipment, parts and tools. An electric power transmission line complete with a sub-station on the property can be energized on signing a current contract with Northwest Energy Co.


The Tamarack Property was initially discovered in the 1860's and has been worked intermittently, both on surface and underground, up to the present time. The most dedicated undertaking of the property was carried out by Mr. Alexander Leggat, B.S., E.M., a professional mining engineer, from 1927 to 1937. During this period Leggat surveyed and assayed the past workings producing detail plans of the mine and geology. Due to the lack of proper financing he developed and ran the mine on a salvage type operation until he ran out of funds. In his final report dated March 30, 1937, he expressed his findings and conclusions of the ore occurrence and characteristics. Leggat described the occurrence in the Broadgauge ore body of the Tamarack Property, below and above the 406 drift, "having the gold mainly in the limestone above the hanging wall of a large body of intruded porphyry, and the porphyry seems to carry low values for a considerable thickness. The main ore body, however, being the limestone, in which occur irregular pipes, streaks and bunches of a white, siliceous material, rather porous, and not vein quartz but is usually very rich - samples having assayed as high as 27 opt. The gold occurs in the rock absolutely free and very pure."

Millstream purchased an undivided 50.5% interest in the Tamarack, lode gold bearing, Property and its associated assets.

The principle objective of Millstream Mines Ltd. is to enhance and develop known mineral properties to production potential.


Millstream, further wishes to announce and remind the interested public of its web site location,



WARNING: The company relies upon litigation protection for "forward-looking" statements.


For further information contact:



Mr. Ernest Harrison, EM, CEO       Mr. Marty Martinello, B.A., V.P.

Phone: 705-474-7282

Fax: 705-474-5491


Mr. Robert Chase, B.A., CFO



Fax:  416-368-6827





No regulatory authority or similar body approved nor disapproved the information contained herein.