Radius Gold Inc.
TSX.V: RDU     $0.27

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 April 13, 2004
Radius / PilaGold Announce Banderas Drill Results & Provide Merger Update

 Vancouver, April 13, 2004. PilaGold Inc. ("PilaGold") and Radius Explorations Ltd. ("Radius") are pleased to announce results from the second phase of diamond drilling at the Banderas project in Eastern Guatemala.

Highlights of the recently completed drilling include intersections of 11.6 g/t Au equivalent over 2.2m in hole BDD-014; 8.5 g/t Au equivalent over 2.6m in hole BDD-019 including 16.1 g/t Au equivalent over 1.2m; and 5.2 g/t Au equivalent over 6.7m in hole BDD-022, including 13.3 g/t Au equivalent over 0.9m. Detailed assay results from the second phase of drilling are tabulated below together with the intercepts from the first stage of drilling in 2003. An updated drill plan can be found at the PilaGold web site (www.pilagold.com).

Banderas is held under a joint-venture agreement whereby PilaGold can earn a 60% interest in the property from Radius through exploration expenditures (see below). The property hosts a classic epithermal gold vein system: Gold and silver bearing quartz-carbonate veins and breccias are hosted by felsic to intermediate flows and tuffs which comprise a volcanic dome field. Parallel vein structures have been traced in outcrop and float up to 2,500m along strike, and at least 5 vein systems have been identified on the property to date.

The 12 hole (1,643m) core drilling program was completed in mid-March, and was designed to test for strike and dip extensions to known mineralization on the main Pyramid Hill and M28 trends. Significant intercepts have now been defined 1,500m along strike on the Pyramid Hill zone. Previous phase 1 core drilling consisted of 902m in 10 holes, completed in October 2003.

The main M28 vein structure has now been drill tested over 350m strike length on 3 sections, up to 180m down dip. The 130-140º trending vein is generally 2-5m wide and dips 30-40º to the west, occurring at the contact between basement andesites and overlying rhyo-dacites flows. In this case the structure appears to be sub-horizontal, or may have been disrupted by "east side down" normal faulting, to produce vein intercepts which step down to the east.

The Pyramid Hill vein structure has been drill tested over 1,500m strike on 3 sections, up to 90m down dip. This 130-140º trending structure dips sub-vertically, with multiple vein intercepts in a structural zone up to 50m wide on one section. Again, the veins occur along the contact between andesites and overlying rhyo-dacites flows.

Gold and silver mineralization in both zones is generally associated with banded white chalcedonic quartz and black (silver sulphide) "ginguro" bands. Significant gold values generally fall in the 2-12 g/t range with local high grade values up to 18.7 g/t (over 1.5m).

The full results of the Phase 1 and 2 drill programs are currently being compiled. The drilling completed to date has demonstrated that a substantial strike length of mineralized vein system exits at Banderas. Interestingly, the source (or sources) of a number of extremely high hypogene-grade float samples (which returned values of up to 374 g/t Au and 3,524 g/t Ag in one particular sample) has yet to be identified in drilling.

In light of this, additional trenching and prospecting are now underway at Banderas with the aim of following up several untested high grade float discoveries on the western and southern margins of the property, and a third round of drilling is being planned for Banderas for later this year.
Table 1: Banderas Drilling:  Second Stage Results
-------------------------------------------------------------------
                        From   To    Interval  Au     Ag     Au
  Zone         Hole     (m)    (m)     (m)    (g/t)  (g/t)  Eq.*
-------------------------------------------------------------------
Knob Hill     BDD-011                No significant results
-------------------------------------------------------------------
Knob Hill     BDD-012..  91.1   93.1   2.0     4.4    31.9    5.0
-------------------------------------------------------------------
Knob Hill     BDD-013                No significant results
-------------------------------------------------------------------
Pyramid Hill..BDD-014.. .56.3   58.5   2.2     6.9   261.9   11.6
-------------------------------------------------------------------
                         70.1   71.6   1.5     4.2   232.0    8.4
-------------------------------------------------------------------
Pyramid Hill  BDD-015    65.5   67.0   1.5     3.8     9.8    4.0
-------------------------------------------------------------------
Pyramid Hill  BDD-016   154.5  156.1   1.6     5.0     4.3    5.1
-------------------------------------------------------------------
Pyramid Hill  BDD-017                    Hole abandoned
-------------------------------------------------------------------
Knob Hill     BDD-018    67.9   71.6   3.7     3.9    99.3    5.7
-------------------------------------------------------------------
              Including  67.9   68.5   0.6    12.1    28.1   12.6
-------------------------------------------------------------------
Knob Hill     BDD-019    86.9   89.6   2.6     6.8    94.8    8.5
-------------------------------------------------------------------
              Including..88.4   89.6   1.2    14.0   103.0   16.1
-------------------------------------------------------------------
Cerro Golera  BDD-020                No significant results
-------------------------------------------------------------------
Creek Zone    BDD-021                No significant results
-------------------------------------------------------------------
Stone wall    BDD-022    62.5   69.2   6.7     3.9    69.8    5.2
-------------------------------------------------------------------
              Including  66.8   67.7   0.9    11.8    90.5   13.3
-------------------------------------------------------------------
*Au equivalency calculated using 1:55 price ratio between $8 Ag 
and $420 Au.


Table 2: Banderas Drilling:  First Stage Results
-------------------------------------------------------------------
                  From   To    Interval  Au     Ag      Au
Zone   Hole       (m)    (m)     (m)    (g/t)  (g/t)   Eq.*
-------------------------------------------------------------------
M28   BDD-001     13.8   14.3    0.5      6.2    99     8.0
-------------------------------------------------------------------
M28   BDD-002     28.5   30.3    1.8      2.9    57     3.9
-------------------------------------------------------------------
M28   BDD-003     28.9   30.7    1.8      7.2   123     9.4
-------------------------------------------------------------------
M28   BDD-004     53.9   58.2    4.3      6.0    72     7.3
-------------------------------------------------------------------
      Including   53.9   54.6    0.7     14.8     5    14.9
-------------------------------------------------------------------
M28   BDD-005     29.0   30.5    1.5      7.4    84     8.9
-------------------------------------------------------------------
M28   BDD-006     48.8   50.5    1.7      6.0    76     7.4
-------------------------------------------------------------------
M28   BDD-007     77.7   79.3    1.6      7.5    33     8.1
-------------------------------------------------------------------
M28   BDD-008     86.9   90.5    3.6      9.3    41    10.0
-------------------------------------------------------------------
      Including   89.0   90.5    1.5     18.8    64    20.0
-------------------------------------------------------------------
M28   BDD-009     44.2   45.7    1.5      3.1    31     3.7
-------------------------------------------------------------------
M28   BDD-010     67.1   68.6    1.5      1.9     2.0   1.9
-------------------------------------------------------------------
*Au equivalency calculated using 1:55 price ratio between $8 Ag and 
$420 Au.   


Background Information
PilaGold is earning a 60% interest in Banderas project from Radius Explorations Ltd. To exercise the Banderas option, PilaGold must spend CAD$4.0-million in exploration expenditures on the Project over three year period.

Qualified Persons
Peter Thiersch, M.Sc. P.Geo. is the Qualified Person as defined by National Instrument 43-101 responsible for the design and management of the Banderas exploration program. The geological and assay data reported in this news release was communicated to Radius by PilaGold. Radius has not independently verified the assay or geological information. Harmen Keyser, P.Geol., a Director of Radius, is the Qualified Person as defined in NI 43-101, and has verified that the results presented in this release have been accurately summarized from the information provided to Radius by PilaGold.

Radius Explorations Ltd. / PilaGold Inc. Merger
In other news, the preparation of documentation pertaining to the Plan of Arrangement for the proposed merger between Radius and PilaGold is proceeding satisfactorily.

A Fairness Opinion on the proposal for Radius shareholders was commissioned by the Radius Board from Ross Glanville Associates of Burnaby, BC ("RGA"). RGA concluded that the proposed terms of amalgamation are fair and reasonable, from a financial point of view, to the shareholders of both parties. Subsequently, the Glanville report was reviewed on behalf of the PilaGold Board by B.J. Price Geological Consultants Inc., who concluded that the proposed merger would be fair to the shareholders of PilaGold.

The Boards of Radius and PilaGold have set the date of May 25th, 2004 for their respective Extraordinary Shareholders Meetings at which shareholders will be requested to vote to approve the proposed merger.

On completion, the merged company - which will be named Radius Gold Inc. - will be the Central American gold exploration leader with approximately 50-million shares issued, and close to Cdn$20-million cash in the treasury with which to conduct its exploration programs.

For further information on PilaGold or Radius Explorations, please call toll free 1-888-627-9378 or visit our web sites (www.pilagold.com and www.radiusgold.com).


The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.


ON BEHALF OF THE BOARD


"signed"
Simon Ridgeway, President
PILAGOLD INC

Symbol: TSXV-PRI
Shares Issued: 23.1 million



ON BEHALF OF THE BOARD


"signed"
Simon Ridgeway, President
RADIUS EXPLORATIONS LTD.

Symbol: TSXV-RDU
Shares Issued: 40.3 million

Knob Hill 1 Cross Section
Knob Hill 2 Cross Section
Pyramid Cross Section
Stone Hill Cross Section
Banderas Geological Trench Base Drill Holes
 
 

You can view the Next News Releases item: Wed May 19, 2004, Radius Explorations / PilaGold Merger Plans & Exploration Update.

You can view the Previous News Releases item: Tue Mar 30, 2004, Radius Closes Acquisition of Tambor Interest

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