EXPLORATION UPDATE ON SILVER COIN PROPERTY
Stewart, BC - Pinnacle Mines Ltd. and Mountain Boy Minerals Ltd. announce that 15,623.94 meters of drilling has been completed in 72 holes on the Kansas, Big Missouri and Indi 9 claims. The drilling program has been expanded to include an additional 12,000 meters of drilling primarily on the Big Missouri claim. The companies are using 2 drills at present but will add a third drill within the next 4 weeks.
To date, the companies have released assay results for 9 drill holes from the 2006 exploration season (see news release dated July 19, 2006). Drill assays will be released shortly for approximately 20 additional holes once all results for these particular holes (DDH 2006 -100 to 111, DDH-2006 125 to 130 and DDH 2006-152 to 155) have been received. The companies have approximately 4000 drill core samples for which assay results have not been received.
New showings have been located on the southern portion of the property. Prospecting and soil sampling of these areas is now underway.
An exact survey of all drill holes, trenches, and geological features has begun so that an updated 2006 resource calculation can be initiated by MineFill Services, Inc. The 2005 resource estimate that was calculated in accordance with CIMM (2000) standards, at a zero cutoff by MineFill, resulted in an inferred resource of 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. The 2006 drilling has been focused on areas outside the 2005 resource.
E. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration programs on behalf of the companies. Drill core and trench samples are assayed by Assayers Canada of Vancouver, BC.
Pinnacle Mines Ltd. is a Canadian based mineral exploration and development company with assets in Canada, China and Mexico. 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 focus is in Southeast Yunnan, an area being increasingly considered for its potential to host significant mineral resources including “Carlin” style gold deposits. In Mexico, Pinnacle recently entered into an option to acquire the Tuligtic property, a copper-gold target near Mexico City.
For further information contact Andrew Bowering, President, at 604-688-7377 or visit Pinnacle’s website at www.pinnaclemines.com.
On behalf of the Board of Directors
“Andrew W. Bowering”
President and CEO
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