Playfair Mining drills 4.43 m of 0.991% WO3 at Risby

2008-12-15 12:58 ET - News Release

Mr. Don Moore reports

PLAYFAIR EXTENDS RISBY DEPOSIT BY 220M WITH HIGH GRADE INTERCEPT OF TUNGSTEN MINERALIZATION

Playfair Mining Ltd. is releasing drill results for the 2008 Risby tungsten deposit drill campaign. Playfair's drilling of the Risby tungsten deposit has extended tungsten mineralization an estimated 220 metres along strike to the north of its National Instrument 43-101-compliant inferred tungsten deposit.

Holes 50 and 51 (drilled from the same site) are located about 220 metres north and along strike of the limits of the 2007 Wardrop Engineering-inferred tungsten resource. These two holes are the most significant of the 2008 drill program having intercepted similar tungsten grades and widths as those found in the nearby deposit outline. These intercepts demonstrate a strong lateral or on-strike continuity of tungsten mineralization over a total estimated strike length now exceeding 750 metres (DDH 50-51 plus inferred deposit outline). Importantly, the property has untested surface gossan zones located as much as one kilometre north on-strike of the main deposit.

A highlight intercept from hole RT08-51 is as follows: 4.43 metres of 0.991 per cent WO3, including two metres of 1.65 per cent WO3.

Holes 52 and 53 are located about 700 metres southeast of the 50-51 drill site. These two holes were drilled from the same drill pad, which was strategically located to test the down dip extension of the southeast limit of the deposit. Analyses of samples collected from these two holes report narrow widths (about one metre) of moderate tungsten mineralization.

      RISBY NO. 2 ZONE DEPOSIT -- SELECT HIGHLIGHT
                      DRILL INTERVALS

   DDDH       Zone     From       To Metres    W (%) WO3 (%)

RT08-50  Upper       263.84   268.30   4.46   0.209   0.263
         including   263.84   266.14   2.30   0.323   0.407
         Lower       274.03   282.56   8.53   0.290   0.366
         including   279.56   282.56   3.00   0.641   0.808
RT08-51  Upper (?)   275.70   278.10   2.40   0.614   0.775
         including   276.76   278.10   1.34   1.028   1.296
         Upper       293.57   298.00   4.43   0.786   0.991
         including   295.10   297.10   2.00   1.308   1.650
         Lower       312.25   314.47   2.22   0.267   0.337
         including   312.25   313.25   1.00   0.442   0.557
RT08-52  Upper       208.23   209.23   1.00   0.600   0.757
         Lower       225.60   228.69   3.09   0.150   0.189
         including   225.60   226.60   1.00   0.215   0.271
RT08-53  Upper (?)   247.28   248.28   1.00   0.043   0.054

Intercept lengths are core lengths and not true widths

Don Moore, chairman of Playfair, states: "By encountering strong tungsten mineralization in the 220-metre step out drill holes, Playfair has proven that there is significant potential to dramatically expand this already large deposit. Our long-term view on the price of tungsten remains bullish and we believe that the Risby deposit is a potentially large source of high-grade tungsten for the world market. As an additional benefit, it is a large and high-grade deposit located in a mining-friendly jurisdiction in a favourable country."

Michael Moore, PGeo, is the qualified person who has reviewed the technical information contained in this news release on behalf of Playfair.

Core samples were collected under the supervision of Mr. Moore, PGeo. H and NQ diameter core was descriptively logged on site, aligned, marked for sampling and then split in half, longitudinally, using a diamond saw blade. One-half of the core is preserved on site in core boxes for verification and future reference. The samples comprising the other half of the core were bagged, sealed and delivered directly to the analytical laboratory. Samples were delivered to Eco Tech Laboratories (Alex Stewart Geochemical), an ISO 9001:2000-accredited laboratory, in Whitehorse, Yukon, for pulp preparation; the pulps were then forwarded to the Eco Tech laboratories in Kamloops, B.C. The core samples were dried, crushed and pulped. Samples were crushed to approximately minus 10 mesh and split using a riffle splitter to approximately 300 grams. The sample split was pulverized using a ringmill to approximately 98 per cent minus 150 mesh. A 0.2-gram split from the resulting pulp was then subjected to a hydrogen peroxide fusion digestion and then analyzed for tungsten by ICP-MS. All coarse rejects and pulps are currently stored at Eco Tech Laboratories.