Conway Resources Inc.
TSX VENTURE : CWY

Conway Resources Inc.

October 30, 2007 07:00 ET

Conway Resources Releases Initial Drill Results for its Conway Paquin Property

QUEBEC CITY, QUEBEC--(Marketwire - Oct. 30, 2007) - Conway Resources Inc. (TSX VENTURE:CWY) is pleased to announce the results of its exploration work on the Conway and Andresen veins of its Conway Paquin property located in the old Belleterre mining camp, Temiscamingue. Indeed, 19 of the 27 holes drilled on the Conway vein returned gold values greater than 1 g/t Au with a maximum of 98.81 g/t Au over 0.52 m in hole CO-07-21. These grades compare very well with those obtained from channel sampling done previously to drilling, which ranged from less than 1 g/t Au to 31.9 g/t Au over 1.0 m.

Laurent Beaudoin, President and Chief Executive Officer of Conway Resources, stated that "We are very pleased with the results obtained to date. We have been able to demonstrate the potential of the gold-bearing structures, particularly the Conway vein, and that, although some complementary assay results are still pending, the grades obtained thus far are quite comparable to the ones mined at the old Belleterre mine (production of nearly 800,000 ounces of gold), which lies immediately to the east of our property. We have proved, based on the intersection of the Conway vein in hole PA-07-53, the continuity of this vein over a minimum strike length of 700 m (L400W to L300E) with thicknesses varying from 0.25 to 2.0 m and so far up to a vertical depth of about 75 m. Therefore, we consider the gold-bearing structures of the Conway Paquin property to be comparable to those of the Belleterre mine. These results are very encouraging for the Company, and we are eager to follow-up on this work."

CONWAY VEIN

The Conway vein is characterized by smoky bluish-white quartz containing 2-5% disseminated sulphides (pyrite, pyrrhotite, chalcopyrite, sphalerite and galena) and in narrow millimetric veinlets. The vein contacts are sheared and chloritized, and the vein walls are locally silicified.

The 2006-07 drilling program consisted of 27 shallow holes totalling 1,677 metres (CO-06-01 to 10, CO-07-11 to 25, PA-07-53 and 54). Most of the holes are 25-50 m apart and were drilled directly below the main Conway vein stripped area. Nineteen of the 27 holes drilled during the program returned grades of over 1 g/t Au, with a maximum of 98.81 g/t Au over 0.52 m obtained in hole CO-07-21. All samples assayed by the fire assay method that returned grades greater than 1 g/t Au are now being subjected to check assaying using the metallic sieve method, a technique that measures the total gold contained in the sample. This expertise is required due to the heterogeneity of the gold content of the vein.

Results for these 19 holes are shown in the following table:



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Hole From (m) To (m) Au g/t
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CO-06-01 23.70 24.79 1.81 / 1.09 m
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CO-06-02 18.0 19.15 2.88 / 1.15 m
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CO-06-03 29.25 29.75 2.19 / 0.50 m
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CO-06-06 20.15 21.00 9.04 / 0.85 m
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CO-07-11 21.04 21.40 2.56 / 0.36 m
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CO-07-12 21.87 22.42 1.51 / 0.55 m
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CO-07-13 21.60 23.52 1.38 / 1.92 m
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CO-07-14 16.64 17.69 1.59 / 1.05 m
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CO-07-15 19.77 20.70 1.62 / 0.93 m
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CO-07-16 26.55 28.39 1.88 / 1.84 m
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CO-07-17 18.70 19.15 2.70 / 0.45 m
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CO-07-19 34.00 34.48 2.03 / 0.48 m
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CO-07-20 22.52 23.05 10.84 / 0.53 m
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13.60 / 4.33 m incl.
CO-07-21 21.56 25.89 98.81 / 0.52 m
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CO-07-22 33.50 35.11 36.46 / 1.61 m
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CO-07-23 21.61 22.10 1.98 / 0.49 m
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CO-07-24 25.00 25.51 13.37 / 0.51 m
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CO-07-25 31.00 31.43 2.75 / 0.43 m
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PA-07-53 126.72 127.50 2.67 / 0.78 m
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PA-07-53 148.46 149.50 1.19 / 1.04 m
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The most significant values obtained by channel sampling prior to drilling were 31.93 g/t Au; 83.7 g/t Ag; 1,259 ppm Cu and 760 ppm Zn.

ANDRESEN VEIN

Only three holes totalling 135 metres, AN-07-01 to 03, were drilled to test the depth extension of the gold mineralization seen on surface. The vein is hosted in a shear zone at the contact of folded tuffs with basalts. The vein is fairly irregular and appears also as a dense network of narrower quartz veins or quartz lenses injected along the mineralized structure over widths varying from 0.6 to 4.5 metres. A channel sample returned 2.8 g/t Au over 2.0 m.

Two of the three holes intersected the Andresen vein and returned grades values from 1.4 g/t to 5.69 g/t Au over 0.61 m. The drill results are shown in the following table:



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Hole From (m) To (m) Au g/t
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AN-07-01 27.00 27.85 1.41 / 0.85 m
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AN-07-01 39.00 39.49 2.06 / 0.49 m
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AN-07-01 40.00 40.45 2.50 / 0.45 m
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3.71 / 1.71 m incl. 5.69
AN-07-02 45.76 47.47 / 0.61 m
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The core samples were assayed using fire assay with gravimetric finish by Laboratoire Expert of Rouyn-Noranda, Quebec. Several selected samples are currently undergoing complementary analysis measuring its whole gold content by analyzing the fine and coarse fractions (metallic sieve). The usual industry quality controls were applied.

The Company is presently compiling all the data collected during its 2007 program in order to prepare the next phase of work. Among other things, additional drilling is required between holes PA-07-53 and CO-07-11 and to the East of Hole PA-07-53 to prove the continuity of the Conway vein along strike. The Company plans to mine a bulk sample of about 2,000 tonnes on the Conway vein in order to quantify more accurately the gold content of the vein and to conduct metallurgical testing. The bulk sampling, for which a permit application has been filed, remains subject to assay results and approval of the permitting by the Ministere du developpement durable, de l'environnement et des parcs. The Company feels that, due to the heterogeneity of the gold content of the vein, this method will provide a benchmark against which results of any future work could be compared.

About the Conway Paquin Property

The Conway Paquin property lies two kilometres west of the old Belleterre mine, which produced a total of 2.18 Mt at an average of 9.95 g/t Au from 1936 to 1959. The mineralization of the Belleterre mine is associated with pinch and swell, both vertically and horizontally, of the quartz sulphide veins. Generally very extensive in the case of the Belleterre mine, these veins extend to a minimum depth of 2,000 feet below surface. Production ceased in 1959 due to low gold prices. Three main veins, namely the Conway, the Andresen and the Paquin, have been identified on the property. These veins are very similar to the shear veins at the Belleterre mine, both in terms of their geometry and their erratic, highly heterogeneous gold content.

About Conway Resources

Conway Resources (TSX VENTURE:CWY) specializes in the acquisition, exploration and development of mining properties. The Company is primarily focused on precious metals, and presently owns four properties in Quebec, Canada, in the vicinity of the Belleterre mine (total production of 2.18 Mt at 9.95 g/t Au for nearly 800,000 ounces of gold from 1936 to 1959) and the old Lorraine Cu-Ni mine. For more information, visit the Company's website at www.ressources-conway.com.

Qualified Person

Geologica Groupe-Conseil Inc. and Alain Vachon, Geological Engineer, technical advisor and qualified person (QP) for Conway Resources Inc. have reviewed the content of this press release.

The TSX Venture Exchange assumes no responsibility for the adequacy or accuracy of this press release.

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