Ansell Capital Corp.
TSX VENTURE : ACP

February 18, 2010 10:34 ET

Ansell Capital Corp. Signs Pires Property Letter of Intent With Entourage Mining

WEST VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 18, 2010) - Ansell Capital Corp. ("Ansell") (TSX VENTURE:ACP) announces that it has signed a Letter of Intent ("LOI") with Entourage Mining, ("Entourage") an OTC Bulletin Board listed company, wherein Ansell has agreed to complete due diligence on 6 mineral claims covering 8,798 hectares of mineral explorations lands and incur expenditure on the claims of no less than US$200,000 in the three month period ending May 1st, 2010. Access and logistics of the property are easy as the property is crossed by paved highway and served by the Brazilian electric power grid.

The 6 Pires property claims ("Pires" or the "property"), currently optioned by Entourage, are located in southern Goiás State, Brazil, 100 km west of Kinross' Paracatu Gold Mine. Entourage has an option to earn a 100% unencumbered interest in the property; there is no Net Smelter Return in the option agreement. As part of the LOI, Ansell has agreed to pay Entourage a CDN$75,000 payment as consideration for Entourage locking up terms pursuant to which Ansell may acquire all of Entourage's right, title and interest in and to the Pires property and other assets by way of a Plan of Arrangement. If Ansell proceeds with the acquisition, it will be required to issue to each Entourage shareholder one common share of Ansell stock for each share of Entourage. Entourage is expected to have approximately 9,600,000 shares issued and outstanding subject to adjustment for warrants and options which may be exercised prior to the effective date of the acquisition.

Ansell can proceed with the acquisition of the assets of Entourage following satisfactory completion of their preliminary investigation of the Pires property. Should Ansell not proceed with the acquisition, Ansell will have earned one quarter of Entourage's earned interest in and to the Pires property which may be re-purchased by Entourage for cost for a period of 18 months from the date Ansell elects not to proceed with the acquisition.

Ansell commits to spend US$200,000 on the Pires property in the program consisting of:

  • Continuing surface sampling in un-sampled or minimally sampled areas of the Property;
  • Completion of detailed structural and geological mapping;
  • Surface follow-up of high-grade sample sites, including geochem and hand trenching;
  • High resolution ground magnetic lines at the most advanced target (Point 1) area to determine efficacy; and
  • Drilling (450 m) at Point 1 to confirm 3D orientation of veins, vein density, and gold abundance in fresh bedrock.

Entourage Mining has filed, on the System for Electronic Document Analysis and Retrieval (SEDAR), a 43-101 Technical Report on the Pires property. Entourage has collected and analyzed 291 rock, soil and chip samples from the Pires Property to date. The 15 most gold enriched sample results from the property are summarized in the following table:

Sample # Lab Au g/t As
ppm
Cu ppm Fe% Mn ppm Ni ppm Pb ppm V
ppm
Zn
ppm
HOC-09—56 ACME 404.95 313 87 5.78 77 9 1083 24 450
PIR-09-069 INTERTEK 297.00 7078 1346 10.0 2300 274 5856 49 293
PIR-09-089 INTERTEK 114.00 1313 0 10.0 500 145 1846 69 135
HOC-09-031J INTERTEK 80.10 3521 186 15.0 0 190 9464 >3162 1179
PIR-09-017 INTERTEK 77.00 2781 719 10.0 200 145 9755 1268 2016
HOC-09-047 ACME 69.83 1431 18 30.90 84 57 1058 318 466
HOC-09-P003W SGS-GEOSOL 54.71 1015 128 12.25 200 23 2659 22 508
HOC-09-P001K SGS GEOSOL 40.69 892 282 12.03 900 17 2627 51 723
HOC-09-031M INTERTEK 39.98 695 425 14.15 0 46 2064 97 672
HOC-09-055 ACME 39.81 760 727 13.62 9577 63 3198 720 676
PIR-090-086 INTERTEK 39.70 912 22 10.0 200 110 2947 22 279
PIR-09-069 INTERTEK 39.50 1520 32 10.0 100 214 5000 1043 4977
HOC-09-P003e SGS GEOSOL 37.10 800 364 6.63 300 28 2043 25 201
HOC-09-P002A ACME 31.76 1286 64 26.52 28 30 139 56 58
PIR-90-026 INTERTEK 28.30 520 248 10.00 1100 26 1744 77 612

The gold results presented above were produced by fire assay and were completed at three different laboratories: ACME Analytical Laboratory (Vancouver, Canada); SGS Geosol Laboratory (Belo Horizonte, Brazil); and Intertek of Brazil (Belo Horizonte, Brazil). Other elements were analyzed by ICP. Dr. Harrison Cookenboo, PhD, P Geo and a "Qualified Person" as that term is defined in National Instrument 43-101, and co-author of the report states:

"These highly enriched samples were collected from different parts of the property located up to 15 km apart on strike. Hand trenching has succeeded in exposing un-deformed quartz veins in or close to bedrock near the float samples in some of these occurrences, and locally abundant concentrations suggest that other samples are also proximal to source."

Dr. Cookenboo has reviewed the technical data in this news release and approves the release of technical information described herein.

ON BEHALF OF THE BOARD

Jevin Werbes, President

For more information or to read the 43-101 Pires Technical Report, please visit our website at www.ansellcapital.com.

Forward Looking Statement

Except for historical information contained herein, the statements in this Press Release may be forward looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Ansell Capital Corp.'s actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of commodity prices, product demand, market competition, and risks inherent in Ansell Capital Corp.'s operations.

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