Lucrum, Sage extend Kerrs gold property

2008-11-19 10:19 ET - News Release

See News Release (C-LRU) Lucrum Capital Corp

Mr. Robert Hanson of Lucrum Capital reports

LUCRUM CAPITAL CORP. ("THE COMPANY") PHASE 3 DRILLING PROGRAM EXTENDS KERRS GOLD SYSTEM

Lucrum Capital Corp., through its wholly owned subsidiary Sheltered Oak Resources Inc. (Oak), has an option agreement with Sage Gold Inc. whereby Oak may acquire a 55-per-cent joint venture interest in the Kerrs gold property from Sage. Further details about the property and option agreement can be found in the company's filing statement dated Aug. 18, 2008, and filed on SEDAR.

The company announces initial results from its phase 3 drill program at the Kerrs gold property located on the western shore of Lake Abitibi, northeast of Matheson, Ont. To date, three drill holes (K-08-20, 21 and 17) have been completed totalling 1,576 metres with two additional holes (K-08-18 and 19) totalling approximately 850 metres in progress.

The phase 3 program is designed to test the up-dip strike extent below Bell Lake and down-dip extensions of quartz-pyrite replacement veining and green carbonate quartz vein breccia zones varying in thickness from 10 metres to 40 m. Gold mineralization occurs as pyritized quartz vein breccias enveloped by quartz fuchsite carbonate vein breccias with three brecciation sequences identified in several drill holes. Fine gold is primarily associated with fine pyrite grains (1 to 5 per cent) disseminated within quartz veins and altered mafic pillow flow volcanic overlying a magnetite/olivine-rich ultramafic assemblage. Coarse gold also occurs in sulphide-poor fuchsite carbonate quartz veins as observed in K-06-13 returning 27.8 grams per tonne over 0.5 metre and K-05-01 returning 32.8 g/t over 0.44 m in the upper zone. Drill hole K-08-17 confirms the presence of three discrete vein systems which exhibits good correlations over an up-dip length of 150 m with the three zones reported in K-05-7. The middle vein breccias zone shows gold enrichment in both holes with weighted average grades varying between 5.72 g/t and 6.43 g/t over true widths ranging from 3.8 m to 4.5 m.

Hole No.    Location          Interval (metres)              Weighted
                                                           average Au
                                                           grade/metre --
                                                              true
                                                           thickness (m)

K-05-01(*)  L1150 N/6+55W     284.3-286.16 (upper)       9.18 g/t/1.86 m
            Dip: 60 degrees   375.48-83.51 (middle)      7.43 g/t/3.22 m
            Az 130 degrees
K-05-7      L1150N/70W        411-413 (upper)            1.06 g/t/2.0 m
            Dip: -60 degrees  427.5-431.3 (middle)       5.72 g/t/3.8 m
            Az 310 degrees    441-446.1 (lower)          2.15 g/t/5.1 m
K-08-17     L1150N/170W       340.8-345 (upper)          0.82 g/t/0.6 m
            Dip: -60 degrees  355.5-360 (middle)         6.43 g/t/4.5 m
            Az 310 degrees    397.0-402 (lower)          0.96 g/t/5.0 m
K-06-08     L1200 N/70W       430.6-436.2                0.64 g/t/5.6 m
            Dip: 90 degrees
K-06-12     L1400N/BL0+00     223.1-223.7   429-436      4.47 g/t/0.6 m
            Dip: -60 degrees  429.7-432.5                2.88 g/t/7.0 m
            Az 310 degrees                               4.29 g/t/2.8 m
                                                        (includes 8.1 g/t
                                                         over 0.9 m)
K-06-13     L815N/BL 0+40W    428.1-430.8                6.82 g/t/2.5 m
            including         429.1-429.6                27.8 g/t/0.5 m

The following work was done by Sage prior to the option agreement being executed between Sage and Oak. Drill holes numbered K-05-01 through K-05-07 were drilled during the fall of 2005 and were reported in Sage's press release in Stockwatch Nov. 8, 2005. Drill holes K-06-08 and K06-12 were drilled during Sage's winter program of 2006 and were reported in Sage's press release in Stockwatch March 7, 2006. K-06-9 and K-06-15 were also drilled during the winter program but did not yield significant assay results.

(*) K-05-01 reassaying of pulps and pulp metallic analysis of rejects

(*)(*) K-05-07 was reported as 5.73 g/t -- 3.3 m (press release in Stockwatch Nov. 8, 2005). The core was reanalyzed at a finer grind (minus-230 mesh from plus-10 mesh) resulting in an improvement of approximately 11 per cent in the grade of the sample.

The Kerrs gold property has been defined by 17 drill holes arrayed in a 200 m by 200 m pattern with infilling at 100 m spacing on Section 1150 piercing a shallow dipping synclinal fold structure. The results of drill holes K-06-08, 10, 11, 12, 13, 14 and 16 indicate that the green carbonate quartz breccia zone and mafic replacement zones can be traced for over 1,200 metres. The down-dip dimension of the fold structure has been delineated by holes K-05-1, K-05-7, K-06-8, K-08-17 and K-08-18 to depth along a curvilinear inclined plane from 150 m to 750 m measured from surface. The system is open to depth from surface and along strike to both the northeast and southeast.

Robert Hanson, president and chief executive officer, commented, "We are most encouraged by the success of our drilling program with regard to continuity, grade and strike length of the Kerrs gold property."

The surface diamond drilling program involving geological core logging, sampling and assaying tasks was supervised by Peter Hubacheck, PGeo, No. 1059 (APGO), on behalf of Hubacheck Consulting Geologists (HCG), affiliated with W.A. Hubacheck Consultants Ltd. Mr. Hubacheck is a qualified person as defined by NI-43-101 and has reviewed and authorized the geotechnical material in this press release.

The NQ core samples were collected by HCG personnel at the drill from the drilling contractor (Salo Drilling, Timmins, Ont.) and transported to a core processing facility located on the Wahgoshig First Nation reserve, 30 kilometres from the project site. The drill core was geologically logged for rock type, alteration, mineralization, per cent recovery and RQD (rock quality designation) factors, prior to being sawn lengthwise in half. Individual core sample lengths (standardized from 0.5 m to 1.5 m) were selected by the HCG personnel on a geological basis to delimit the gold mineralization based on lithological rock type, alteration and structural features. The remaining half core is stored and secured inside the core processing facility. The core samples were bagged, labelled and then transported in sealed plastic pails by HCG personnel and delivered via Manitoulin Transport to Accurassay Laboratories in Thunder Bay, Ont. At this facility, there was crushing of the total sample, splitting to 250 grams using a Jones Riffle, and pulverized to 90 per cent minus-230 mesh. Gold analysis is performed on 50-gram splits using atomic absorption (AA) and AA samples greater than 2,000 parts per billion were checked with gravimetric finishing by fire assay. Quality control was maintained by periodic check assays with the insertion of lab standards and blanks in the sample stream. Duplicate samples were also inserted using quartered core samples from selected samples taken from the mineralized zones.

There are 17,135,808 issued and outstanding common shares of the company.

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