Amalgamated Explorations Inc.Stakes Drilling Location on Boone Dome Project; AMAL Uses New Electrotelluric® Technology in Hunt for Oil and Natural Gas Reserves

Denver, CO.,-Oct. 15, 1998- Amalgamated Explorations, Inc., (OTC,BB: AXPL) announced it has staked a new drilling location for the Federal 1-23 exploratory well located in the NE/4 of the SE/4, Section 23, T35N, R85W in their Boone Dome project in Natrona County, Wyoming for a planned 9,100 ft. test upon approval from state and federal authorities. Amalgamated's upcoming test of the Boone Dome project comes after numerous tests and comparisons of its newly patented Electro-Telluric Survey, which detected the presence of hydrocarbons in a number of formations which have been known to be productive in this area. Additional information concerning the Electro-Telluric Survey and updated drilling and completion reports is available on the World Wide Web address of www.boonedome.com. Amalgamated Explorations' corporate information may be accessed via Amalgamated's home page at www.findoil.com.

Amalgamated Explorations, Inc. - 1-303-629-5115