Manitoba Mining Information

Western Areas has intersected new nickel copper mineralization in drill holes below the Historic El Mine at Lynn Lake in Northern Manitoba. Three diamond drill holes have been completed to date. All drill holes intersected significant widths of stringer, vein and disseminated nickel and copper sulphides confirming the continuity of the mineralization.

In a News Release today, Mr. Julian Hanna the Managing director for Western Areas reported

• Drill hole LL007 intersected 24 metres at an average grade of 1.1 per cent nickel, 0.7 per cent copper and 0.03 per cent cobalt from 126 m downhole depth. The intersection includes seven m at 2.1 per cent nickel and 1.2 per cent copper. LLD007 intersected the main stope of the mine and was terminated at 150 m depth. An additional drill hole LL010 has been drilled to test extensions to the mineralization below LL007 and assay results are pending.
• Drill hole LL009 intersected 110 m at an average grade of 0.5 per cent nickel, 0.3 per cent copper and 0.02 per cent cobalt from 290 m downhole depth. The intersection includes several higher-grade intervals including three m at 1.7 per cent nickel and 0.9 per cent copper and three m at 2.3 per cent nickel and 0.5 per cent copper. LLD009 intersected the extension of the EL deposit from approximately 50 m to 150 m below the existing mine stope.

Mr Hanna said: “While the first assay results from Lynn Lake are lower grade than our projects in Australia, we are very encouraged that they confirm the excellent continuity of the mineralization below the EL mine. In addition, we are testing a number of previously unexplored VTEM targets at Lynn Lake for repetitions of EL mine-type deposits.” Mr. Hanna added: “Canada remains a high priority for Western Areas. The reasons are the quality of our current nickel projects in Manitoba, the excellent potential for new nickel discoveries and the large investor base which is available to our company in North America.”

Western Areas Press Release

San Gold Corp today reported results for underground diamond drilling below the lowest working levels of the Rice Lake Gold Mine. Highlights include 2.7 m of 31.8 g/t Au (.93 oz / ton )
San Gold 2008-02-26 14:29 ET - News Release

Mr. Dale Ginn reports

PHASE 2 DRILL PROGRAM REVEALS ADDITIONAL NEW HIGH GRADE ZONE AT RICE LAKE DEEP

San Gold Corp.’s second phase of deep drilling below the working levels of the Rice Lake mine has already resulted in the discovery of a new high-grade zone in addition to extending downdip the high-grade “96″ vein, as highlighted by hole No. 464-08-00, intersecting 5.4 metres (17.7 feet) of 31.1 grams per tonne (0.91 ounce per ton) gold. The newly discovered zone is highlighted by hole No. 464-08-03 which intersected 2.7 metres (8.9 feet) of 31.8 g/t (0.93 ounce per ton) gold. The first seven holes of the phase 2 program are reviewed in the attached table.

Hole No.       From       To          Length   Gold g/t  (ounce per ton)    Vein/Zone

464-08-02    16.8 m   20.9 m    4.1 m (13.5 feet)      13.1     (0.38)          New
464-08-03    12.0 m   14.7 m    2.7 m  (8.9 feet)      31.8     (0.93)          New
464-08-04    14.7 m   18.8 m    4.1 m (13.5 feet)       6.0     (0.18)          New
464-08-00    37.3 m   42.7 m    5.4 m (17.7 feet)      31.1     (0.91)           96
464-08-05    39.9 m   43.6 m    3.7 m (12.1 feet)      23.6     (0.67)           96
464-08-06    26.5 m   32.7 m    6.2 m (20.3 feet)       5.9     (0.17)           96
464-08-07    48.6 m   52.7 m    4.1 m (13.5 feet)      16.2     (0.47)           96

Full San Gold Corp Press Release

Newmont Mining, Barrick Gold , and Goldcorp, world’s major gold producers, reported fourth-quarter earnings on Thursday that mostly beat analysts’ expectations because of surging bullion prices.

Barrick Gold reported a 28% rise in fourth quarter profit

Newmont Mining normalized operating number comes out at $228 million, or a positive 50 cents a share.

Goldcorp, nearly quadrupled its fourth-quarter profit.

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