Mountain Boy Minerals Ltd.: New High Grade Gold Zone Discovered Beneath Historic Dunwell Mine Workings-Crews Remobilized and Drilling Resumed

STEWART, BRITISH COLUMBIA, May 13, 2010 (MARKETWIRE via COMTEX News Network) --
Mountain Boy Minerals Ltd. (TSX VENTURE: MTB) (\"Mountain Boy\" or the \"Company\") reports a new discovery at its wholly owned Dunwell Gold Mine in Northwest British Columbia. Assay results have been received for 13 drill holes completed during the winter program. Located 7.5 kilometres northeast of Stewart, this former producing gold mine is just two kilometers off paved highway 37A. The primary purpose of this program was to test the potential for depth extensions of the Dunwell gold-silver mineralization.

Highlights of these latest results include: 6.7 metres grading 14.27 g/t gold, 37.81 g/t silver, 0.25% lead and 0.63% zinc in DDH-2010-9 and 6.64 metres grading 7.66 g/t gold, 37.4 g/t silver, 0.33% lead and 0.90% zinc in DDH-2010-12.

The deposit consists of a series of quartz and quartz-breccia veins hosted in thin-bedded argillite, siltstone and greywacke of the Middle Jurassic Salmon River Formation (Hazelton Group). Andesitic tuffs of the underlying Lower Jurassic Unuk River Formation outcrop to the east of the veins.

The veins are developed in the Portland Canal Fissure Zone. This zone of faulting and shearing trends north, dips steeply west and hosts a vein system that extends southward for 6.5 kilometres from the Victoria/Dandy occurrence on the north, through the Dunwell mine across Glacier Creek to the Ben Bolt occurrence.

The deposit consists primarily of two veins, the Sunbeam vein to the north and the Dunwell (number 23) vein to the south, with a number of other less important veins. The veins are developed en echelon adjacent to a major north striking, west dipping fault zone (West fault). The veins are commonly situated along one or both sides of parallel lamprophyre dykes which are up to 0.6 metres wide.

Mineralization consists of lenses, disseminations and stringers of pyrite, galena, sphalerite and tetrahedrite with minor chalcopyrite, native silver and argentite in a gangue of quartz and minor calcite. Locally, the Dunwell vein contains up to 75% sulphides. The mineralization is more intense where the veins are intersected by fractures of the West fault zone.

Results from this recent drilling indicate an extension to the mineralization mined previously. The first five holes drilled south of and 150 meters below the underground workings yielded low gold values in a low sulphide bearing quartz breccia. Eight drill holes completed just north of and 150 meters below the previous underground workings encountered a wide zone of quartz breccia with strong sphalerite, galena, pyrite and chalcopyrite.

Assay results for this new zone are shown below:

---------------------------------------------------------------------------From To LengthDDH No. (m) (m) (m) Au g/t Ag g/t Pb % Zn % Cu %---------------------------------------------------------------------------D4-10-6 208.84 211.89 3.04 3.75 55.87 0.21 3.87 0.17---------------------------------------------------------------------------D4-10-7 207.62 208.38 0.76 2.23 48.78 0.24 4.63 0.06---------------------------------------------------------------------------D4-10-9 215.55 222.26 6.71 14.27 37.81 0.25 0.63 0.02---------------------------------------------------------------------------D4-10-10 216.77 221.95 5.18 5.31 62.4 0.52 0.80 0.03---------------------------------------------------------------------------D4-10-11 217.07 222.93 5.85 4.74 55.88 0.09 0.72 0.02---------------------------------------------------------------------------D4-10-12 218.35 225 6.64 7.68 37.40 0.330 0.90 0.02---------------------------------------------------------------------------
Core intersection widths are interpreted as being true width given the dip of the mineralized zone. DDH-2010-8 hit the zone but carried low gold values while DDH-2010-13 had the zone disrupted by faulting. Diagrams including an assay cross section of the new discovery area and a longitudinal projection of the ore shoots and new area of mineralization are available for review at http://www.mountainboyminerals.ca/dunwell/ index .html.

The Company has remobilized drill crews to Dunwell to continue drilling and further outline this new gold-silver bearing zone encountered in DDH-2010-1 to DDH-2010-13. Due to the property\'s low elevation and proximity to town, exploration at Dunwell can be accomplished year-round.

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