April 30, 2008 06:00 ET

Boxxer Reviews 2008 Exploration Programs and Corporate Activities

CALGARY, ALBERTA--(Marketwire - April 30, 2008) - Boxxer Gold Corp. (TSX VENTURE:BXX) ("Boxxer" or the "Corporation") is pleased to provide its shareholders an update on corporate activities and exploration plans for 2008. Boxxer has four exploration properties, three of which are located in the State of Nevada, USA and the other project is located in the Northwest Territories of Canada.

Mr. Elmer Stewart, President and CEO of Boxxer stated, "2008 is a pivotal year for Boxxer. We have four excellent exploration properties with identified exploration models for large copper-gold and gold deposits. The geopolitical location and the excellent infrastructure allows for low cost, effective, exploration programs".

Highlights of 2008 Program:

Boss Project:

The Boss project is classified as a skarn/porphyry style of mineralization and shown many similarities to the Robinson Mining District located in central Nevada that is currently being mined by Quadra Mining Corp. Boxxer is commencing a surface exploration program, including the collection of representative samples of the various styles of mineralization that occur within the Boss and Oro Amigo Mines, for preliminary metallurgical test work. The surface exploration program is designed to evaluate the significance of the Boss Extension zone that occurs between the Boss Mine and the Boss # 2 zone (see news release dated April 22, 2008). The metallurgical test work is being completed to determine the recoverability of the five metals of significance which allows Boxxer to express the concentrations of the five metals as a copper equivalent grade. On completion of the surface exploration program on the Boss Extension, Boxxer plans to commence a diamond drilling program on the area located between the Boss Mine and the Boss # 2 mine and in the Oro Amigo zone, subject to the availability of securing a diamond drill.

Boyer Ranch Project:

This project is classified as an Iron Oxide Copper Gold ("IOCG") style mineralization hosted in the Humboldt Mafic Complex in central Nevada. The 2008 exploration program has the objective of following up the large 700 m long geochemical copper in soil anomalies outlined in late 2007 and defining the dimensions of the two large zones of high-grade copper mineralization located in 2007 (see News Release dated March 13, 2008). On completion of this work, diamond drilling is planned to test the mineralized zones and the Induced Polarization anomalies outlined by the geophysical program completed in 2007.

Gordon Lake Project:

The Gordon Lake project is characterized by a shear zone style of gold mineralization located along the contact of the Cameron River Mafic Volcanic Belt and the Yellowknife turbidites (see News Release dated December 12, 2003). An historical estimate completed on two of the 17 zones of gold mineralization indicates approximately 130,000 tonnes of material at an average grade of 11.8 g/t gold. These two zones of gold mineralization are open at depth and along strike.

The historical estimates completed for the Gordon Lake property were not prepared by independent Qualified Persons, nor has any of the information contained therein been audited by an independent Qualified Person. These reports do not conform to the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") standards of reporting pursuant to requirements under National Instrument 43-101. As a result, the Corporation wishes to clarify that: (i) there are no mineral resources and no mineral reserves on the Gordon Lake Property as such terms are defined under National Instrument 43-101.

The 2008 program consists of extending the surface trace of the shear zone that hosts the 17 zones of gold mineralization to the northeast into the mafic volcanics and to the Syn zone approximately 3 kilometres to the southwest and to identify zones of increased sulphide mineralization. These results would be incorporated into a diamond drilling program planned for early 2009 contingent on drill availability.

Buena Vista Project:

This project is classified as an IOCG style of mineralization. Several large deep induced Polarization anomalies and four mineralized outcrop (see News Release dated September 12, 2007) remain to be evaluated. Mapping and sampling has located a total to 60 copper showings on the property. The limits of the mineralization in these four outcrops have not been delineated. Additional surface work to try and understand the significance of the 60 copper showings and large carbonate alteration zone is planned for the second half of 2008.

Nalesbitan Project:

Boxxer announces that it has terminated its option on the Nalesbitan project located in the Philippines. All parties to the Option Agreement have executed a Release and Quite Claim. All outstanding amounts owing have been settled.

Private Placement:

Boxxer plans to complete a private placement of 2.5 million units at a price of $0.08 per unit. Each unit consists of one common share and one common share purchase warrant that allows the holder to purchase one common share in the capital of Boxxer at a price of $0.12 per share for a period of two years from the date of closing the private placement. This private placement is subject to regulatory approval.

Elmer B. Stewart, MSc. P. Geol., President of Boxxer, is the Corporation's nominated Qualified Person pursuant to National Instrument #43-101, Standards for Disclosure for Mineral Projects, has reviewed the technical information disclosed in this news release.

About Boxxer Gold Corp.

Boxxer Gold Corp. is a Canadian junior resource company involved in the exploration of copper-gold porphyry and Iron-Oxide-Copper-Gold projects in the state of Nevada, and a shear hosted gold project located 110 kilometres north of Yellowknife NWT, Canada.

Forward Looking Statements: This news release contains forward - looking information including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations and potential mineral recovery processes. Forward - looking information includes disclosure regarding possible future events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. For any forward looking information given, management has assumed that the analytical results it has received are reliable, and has applied geological interpretation methodologies which are consistent with industry standards. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. For such statements, we claim the safe harbour for future.

The TSX Venture Exchange Does Not Accept Responsibility for the Adequacy or Accuracy of This Release.

Contact Information

  • Boxxer Gold Corp.
    Elmer B. Stewart
    President & Chief Executive Officer
    (403) 264-4811
    Boxxer Gold Corp.
    Colin Christensen
    Vice President
    (403) 264-4811
    (403) 237-6292 (FAX)
    Phoenix Communication Group
    Jason Shepherd
    (250) 717-1910