PINNACLE TO ACQUIRE/OPTION BA CLAIMS
Vancouver, BC – Pinnacle Mines Ltd. has acquired a 100% interest in 10 mineral claims in the Skeena Mining Division known as the BA claims. The claims are located just east of Stewart, BC near the Company’s Surprise Creek property and adjacent to other claims staked by the Company earlier this year. A new zone of mineralization has been identified on both sets of these claims. Subject to regulatory approval, the Company will issue 150,000 common shares of Pinnacle and pay $4,000 cash for the claims.
The new mineralized zone is located in the upper parts of Bear Glacier. Company geologists believe that the zone represents a portion of a Kuroko type VMS system composed of an exhalite horizon with related zinc-lead-silver mineralization. The main exhalite horizon is 40-50 meters wide and can be traced for 60-70 meters. To date, limited chip and grab sampling has been completed. The highest assays came from two float samples derived from the contact zone of the main exhalite horizon. Sample BA-100 assayed 15.2% Zn, 3.05% Pb and 121.3 g/t Ag. A second sample (BA-111) assayed 10.8% Zn, 8.54% Pb and 305 g/t Ag.
Upon approval of the acquisition, Pinnacle will sell a 50% interest in the BA claims to Mountain Boy Minerals Ltd. for $45,000 cash and a 50% interest in its wholly-owned Stro 1-3 mineral claims which are adjacent to the BA claims. As part of Mountain Boy’s earn-in, they have agreed to carry out a limited drill program of 800 meters on the property.
Pinnacle Mines 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
“Paul Saxton”
Chairman & Chief Operating Officer
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