EXHIBIT 99.8
News Release
Homestake Mining Company
650 California Street
San Francisco, CA 94108

Stephen A. Orr
Vice President Investor Relations
415-983-8169




     HOMESTAKE MINING COMPANY COMPLETES ACQUISITION OF PRIME RESOURCES GROUP


         San Francisco,  CA - DECEMBER 3, 1998 - Homestake Mining Company (NYSE:
HM)  announced  today it has  completed  the  acquisition  of the 49.4% of Prime
Resources Group Inc. (TSE, VSE, AMEX: PRU) it does not already own.

         As a result of this transaction, Homestake owns 100% of Prime Resources
through  Homestake's wholly owned subsidiary,  Homestake Canada Inc. The company
will issue  approximately 27.8 million shares valued at $300 million to complete
the purchase.

       Homestake  Mining  Company is an  international  gold mining company with
operations and exploration  activities in the United States,  Canada,  Australia
and Chile.  Homestake also has active exploration  programs in Latin America and
Eastern Europe.  Homestake began gold mining  operations over 120 years ago, and
is the  oldest  listed  company  on the New  York  Stock  exchange  still in its
original  business.  It has received numerous industry  environmental and safety
awards for its responsible environmental health and safety stewardships.