SC UPDATE
Stewart, BC Pinnacle Mines Ltd. and Mountain Boy Minerals Ltd. announce that assays have been received for the first two holes from the 2007 exploration program. Silver Coin is a gold-silver-base metal property located approximately 24 kilometers north of Stewart, British Columbia in the Skeena Mining Division.
The 2007 exploration program which started in mid September includes 29 holes for approximately 4400 meters of drilling. Of the 14 holes drilled so far, assays have now been received for 2 holes. Core splitting and logging of all remaining holes is underway. It is expected the Company will have assays from the remaining holes during the next 6 weeks and will issue the results as they are received. The remaining 14 are planned to be completed over the next 3 weeks. Weather conditions are variable and snow has already created a minor interruption and may shut down the 2007 program before all holes are completed. The table below lists the results of the most recent assays.
| DDH |
From |
To |
Width |
Au |
Ag |
Cu |
Pb |
Zn |
CLAIM |
|
2007-207 |
50.94 |
57.04 |
6.10 |
1.08 |
12.15 |
0.03 |
0.02 |
0.06 |
Big Missouri |
|
2007-208 |
157.58 |
159.11 |
1.52 |
0.88 |
3.30 |
0.005 |
0.06 |
0.48 |
Big Missouri |
|
2007-208 |
160.63 |
166.73 |
6.10 |
1.16 |
7.45 |
0.003 |
0.02 |
0.05 |
Big Missouri |
|
2007-208 |
175.87 |
194.16 |
18.25 |
2.29 |
4.48 |
.006 |
0.04 |
0.60 |
Big Missouri |
|
including |
178.92 |
180.44 |
1.52 |
16.31 |
12.4 |
0.01 |
0.08 |
1.22 |
Big Missouri |
|
2007-208 |
195.68 |
198.73 |
3.04 |
0.82 |
3.35 |
0.003 |
0.03 |
0.17 |
Big Missouri |
|
2007-208 |
206.35 |
209.40 |
3.05 |
1.04 |
9.90 |
0.004 |
0.09 |
0.71 |
Big Missouri |
|
2007-208 |
215.49 |
218.54 |
3.05 |
1.55 |
8.00 |
0.005 |
0.01 |
0.02 |
Big Missouri |
Prior to this year’s drilling program, MineFill Services of Seattle, WA completed a resource calculation on Silver Coin in compliance with CIMM (2000) Standards at a cut-off of 0.75 g/t which totaled inferred resource of an estimated 1,370,000 ounces of gold and 6,185,000 million ounces of silver. The inferred resource consists of 25.66 million tonnes grading 1.66 g/t gold, 7.49 g/t silver and 0.28% zinc. The 2007 drill program is aimed at continuing the resource to the north and to surface in some areas which will add to the overall resource. A revised resource calculation will be completed once the drill program has been completed and all assays have been received.
The Silver Coin project and associated minerals claims is a 51-49% joint venture between Pinnacle Mines and Mountain Boy Minerals except for the Kansas claim which is owned 40% by Tenajon Resources Corp. and 60% by Pinnacle and Mountain Boy (51%:49%).
Alex Walus, P. Geo., is the qualified person under National Instrument 43-101 that is in charge of the exploration program 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 company with assets in Canada 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 Mexico, Pinnacle has an option with Chesapeake Gold Corp. on the La Calavera and Rio Minas projects in the state of Oaxaca.
For further information about this news release contact Andrew Bowering, Vice President or John Van Duzen at 604-688-7377 or visit Pinnacle’s website at www.pinnaclemines.com for further property information and/or assay results.
On behalf of the Board of Directors
“Paul Saxton”
President and CEO