EXPLORATION SEASON BEGINS AT SILVER COIN
Pinnacle Mines Ltd. and Mountain Boy Minerals report that the 2006 Phase I program on the Silver Coin project, in northwestern British Columbia, has commenced. Permitting for the project has been obtained and drilling is underway. The Silver Coin is a gold-silver-base metal property located about 24 kilometers north of Stewart, British Columbia in the Skeena Mining Division.
The main objective of the program is to add additional resources along strike and depth to those announced on March 15, 2006. The total inferred resource already contains an estimated 500,000 ounces of gold, and 2.11 million ounces of silver. The resource consists of 11.3 million tonnes grading 1.60 g/t Au, 6.64 g/t Ag, 0.06% Cu, 0.19% Pb, and 0.41% Zn and has been calculated in accordance with CIMM (2000) standards, at a zero cutoff by Minefill Services, Inc. The mineralization within the Main Breccia zone used in the resource calculation remains open along strike and depth.
The program which will include a minimum of at least 15,000 meters of drilling will utilize at least 2 drills throughout the field program. Initially one drill will test the south extension of the Dan zone both along strike and at depth. A second drill that is capable of coring to a depth of at least 1000 meters, has been contracted from Britten Brothers Drilling of Smithers, BC and will commence drilling in early June. It will initially test for the presence of the Perseverance zone along the west edge of the fault block being drilled and then continue to test at depth for the Main Breccia zone, primarily to the south of the above outlined resource.
Drilling will initially focus on the area of the Dan zone where 2005 drilling has indicated a 45 to 50 meter wide mineralized structure assaying 3 g/t Au. The 2006 program will include geochemical surveys and trenching to further extend and evaluate mineralization on surface.
The Silver Coin property shares many characteristics with the nearby Silbak-Premier Mine which produced 4.7 million tons that yielded approximately 1.8 million ounces gold, 41 million ounces silver, 4.2 million pounds copper, 62 million pounds lead and 20 million pounds zinc during the period 1918 to 1979.
E. Kruchkowski, P. Geo. is in charge of the exploration programs on behalf of the Company. Assayers Canada, an accredited laboratory conducts all assaying on behalf of the company.
Pinnacle Mines Ltd. is a Canadian based mineral exploration and development company whose primary assets are located in both Canada and China. In Canada, Pinnacle holds several properties in Northwestern British Columbia, in proximity to numerous past and producing mines including the Silbak-Premier Mine and Barrick Gold’s famed Eskay Creek Mine. In China, Pinnacle’s current focus is in Southeast Yunnan, an area being increasingly considered for its potential to host significant mineral resources including “Carlin” style gold deposits.
For further information contact Andrew Bowering, President, at 604-688-7377 or visit Pinnacle’s website at http://www.pinnaclemines.com/.
On behalf of the Board of Directors
“Andrew W. Bowering”
President and CEO
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