NEWS RELEASE - EXPLORATION UPDATE[MARKET NEWS]
posted on
Apr 09, 2008 12:46PM
Drill ready Gold projects
2nd largest land package - Red Lake Mining District & promising properties in the "Ring of Fire"
Source MARKET NEWS
Date 04/08/2008
Time 04:43:06 AM
Company Tribute Minerals Inc.
Title Exploration Update
CDNX Symbol: TBM
Press Release
Exploration Update --->@NEWS RELEASE
TRIBUTE MINERALS INC ("TBM-V")
- Exploration Update
Tribute Minerals Inc. wishes to report on the assays returned from its
winter drill program on the Copperlode and Garnet Lake properties in the
Confederation Lake Belt, Red Lake Mining District, Northwestern Ontario.
Copperlode
On the Copperlode Property analyses of samples from holes CL-2007-4,
CL-2008-5, 6, 7 and 8 have been returned. Best results are summarized
below.
//st
DDH Intersection (m) Width (m) Zn(wt%) Cu(wt%) Ag(ppm)
CL-2007-4 488.7-492.1 3.4 1.92 0.11 3.7
406.9-413.7 6.8 2.30 0.04 4.7
CL-2008-6 399.7-400.6 0.9 6.26 0.03 5.7
405.6-409.2 3.6 5.61 0.01 3.8
415.5-420.1 4.6 2.28 0.05 14.9
CL-2008-8 173.5-177.1 3.6 2.42 0.02 2.4
448.9-450.6 1.7 9.60 0.10 5.0
462.0-465.5 3.5 2.44 0.09 5.9
//et
Drilling has paused for spring break-up and will resume during summer
on the Copperlode Property.
Garnet Lake Property:
Analyses of samples from holes GL-2007-60, 61, 62, GL-2008-63. 66, 68,
69, 70, and 71 have been returned. Analyses for GL-2007-64, GL-2008-65, 67
and 72 remain pending. Best results are summarized below.
//st
DDH Intersection (m) Width (m) Zn(wt%) Cu(wt%) Ag(ppm)
GL-2007-61 421.3-425.3 4.0 2.45 0.05 3.3
GL-2008-63 612.8-618.6 5.8 0.60 0.31 33.8
643.3-644.2 0.9 2.73 0.10 4.1
650.0-654.9 4.9 1.01 0.21 7.7
669.2-671.2 2.0 1.20 0.04 8.0
GL-2008-68 261.3-270.0 8.7 0.95 0.34 13.7
GL-2008-70 445.6-447.1 1.5 1.72 0.22 16.4
//et
On the Garnet Lake Property, drilling has also paused for spring
break-up and is expected to not resume until next winter due to the
marshland ground conditions in areas of the proposed follow-up set ups.
Environmental and Geochemical Reports remain pending from baseline
field studies completed by Golder Associates on the property during the
summer and fall of 2007. Results of metallurgical bench testing on HQ core
from mineralized intersections for holes GL-2007-64 and GL-2008-67 also
remain pending.
On the Snake Falls Property, located at the western end of the
Confederation Property package, preliminary results of the Titan-24 MT and
Deep IP surveys have been received and targets are being chosen for drill
testing this summer.
The drill core samples sent for assay were split in half using a
diamond saw and sealed in secure packages, shipped by bonded carrier from
Ear Falls to ALS Chemex in Thunder Bay for preparation, and to ALS Chemex
in North Vancouver for AU-AA62 assay (gold by fire assay with AA finish)
and ME-MS61 47 element analysis (4 acid dissolution and ICP-MS). High
analyses (greater than 10,000 ppm) for copper, zinc and (greater than 100
ppm) silver were submitted for ore grade AA62 analysis (4 acid dissolution
with AA finish). ALS Chemex fulfilled standard QA/QC protocols.
Some samples have been sent to Activation Laboratories in Thunder Bay
for preparation, and to Activation Laboratories in Ancaster for 1A2 AU
assay (gold by fire assay with AA finish) and UT-4 multi element analyses
(total digestion and ICP-MS). High analyses (greater than 10,000 ppm) for
copper, zinc and (greater than 100 ppm) for silver were submitted for ore
grade analysis. Activation Laboratories fulfilled standard QA/QC protocols.
A duplicate unknown to the laboratory is submitted per batch of ten
samples. A polymetallic standard, unknown to the laboratories, is included
with each submission of samples. As a precaution, samples have been sent to
a third laboratory for check analyses.
The Confederation Lake exploration program is under the direction of
Trevor Boyd, P.Geo, Vice- President, Exploration, Tribute Minerals. The
technical information in this press release was reviewed and approved by
Trevor Boyd, P. Geo., a qualified person (QP) for the purposes of NI
43-101.
Cautionary Note Regarding Forward-Looking Statements: This Press
Release contains forward-looking statements that involve risks and
uncertainties, which may cause actual results to differ materially from the
statements made. When used in this document, the words "may", "would",
"could", "will", "intend", "plan", "anticipate", "believe", "estimate",
"expect" and similar expressions are intended to identify forward-looking
statements. Such statements reflect our current views with respect to
future events and are subject to such risks and uncertainties. Many factors
could cause our actual results to differ materially from the statements
made, including those factors discussed in filings made by us with the
Canadian securities regulatory authorities. Should one or more of these
risks and uncertainties, such actual results of current exploration
programs, the general risks associated with the mining industry, the price
of gold and other metals, currency and interest rate fluctuations,
increased competition and general economic and market factors, occur or
should assumptions underlying the forward looking statements prove
incorrect, actual results may vary materially from those described herein
as intended, planned, anticipated, or expected. We do not intend and do not
assume any obligation to update these forward-looking statements.
Shareholders are cautioned not to put undue reliance on such
forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Capitalization Report for Tribute Minerals Inc
Shares Issued: 75654397
Shares Escrow: 2253258
TSX Venture closing price for Tribute Minerals
Date: 2008/04/07
Closing Price: 0.125
TEL: (416) 368-2929 Tribute Minerals Inc.
FAX: (416) 601-1450 Ian Brodie-Brown, President and C.E.O.
Email: info@tributeminerals.com
Website: www.tributeminerals.com
______________________________
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