Journey Resources Corp.
OTC Bulletin Board : JNYRF

Journey Resources Corp.
Grenville Gold Corporation

Grenville Gold Corporation

December 13, 2007 09:00 ET

Journey Enters Into Letter of Intent With Grenville Gold to Acquire Interest and Form Joint Venture on Silveria Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 13, 2007) - Journey Resources Corp. ("Journey") (TSX VENTURE:JNY)(FRANKFURT:JL4)(OTCBB:JNYRF) and Grenville Gold Corporation (TSX VENTURE:GVG)(PINK SHEETS:GVLGF)(FRANKFURT:F9I)(FRANKFURT WKN:A0KELU) ("Grenville") are pleased to announce that, subject to regulatory approval, they have entered into a letter of intent, whereby Journey may acquire from Grenville, through its 90% owned subsidiary, up to a 75% interest in and to certain mining claims comprising the Silveria property, located in the Huarochiri Province of Peru (the "Silveria Property"), by funding up to a total of $12 million in exploration and development expenditures towards advancing the project into production.

Grenville has recently received reports from its Peruvian subsidiary that the mineral titles in the Silveria region now total 3959 hectares. This includes 2487.23 hectares in mineral titles that have been granted by the Peruvian government, 141 hectares of mineral titles won by auction and 1330.76 hectares of mineral titles purchased. The Silveria claims encompass the past producing Pacococha, Millotingo, Silveria and Germania mines located in the San Mateo Mining District, Province of Huarochiri, Department of Lima, Peru.

Grenville has advanced the Silveria Property as rapidly as possible towards production since acquiring the claims in January 2007. To date, Grenville has completed a NI 43-101 Technical Report on the project, purchased 3393 hectares of land, digitized previous mine plans, completed a topographical map, completed a 3D model of the Pacococha Mine, obtained a blasting permit, continued rehabilitation of several mine portals, and started stockpiling mineralized rock for transportation to one of the local mills in the area for processing.

The Silveria Property NI 43-101 Technical Report is available for viewing at:

As previously reported in a news release dated June 4, 2007, the Silveria Property was in production up until 1991, but has not received serious attention until now. Published documentation on historical production, reserves, reserve ore grades and estimated mine life at December 1990 on the Millotingo and Pacococha Mine are available through "The Peru Report's Guide to Mines and Miners in Peru - Las Minas Del Peru", 1992, page 197-199, 223- 225", researched and edited by Jonathon Cavanagh, (Published by Peru Reporting Servicios Editoriales S.R.L.) Based upon this published information, mine plans, production records and reserve calculations obtained from operators of the two mines, the minimum historic production from two of the four mines indicates 39 million ounces of silver, 88 million lbs of copper, and 96.8 million lbs of zinc were produced. (This data is historical production, which has not been sufficiently verified by a qualified person to be classified as current production calculations. Neither Grenville nor Journey are treating this historical production as current production and therefore, this historical production should not be relied upon).

The terms of the letter of intent between Grenville, its Peruvian subsidiary and Journey include certain payment and expenditure requirements by Journey. The payment requirement consists of a non-refundable deposit in the amount of CDN$200,000 upon signing of the letter of intent. Journey must also fund an amount of CDN$2,800,000 in development and exploration expenditures on the Silveria Property on or before March 15, 2008, at which time Journey will have been deemed to have earned a 25% interest in and to the Property, and a joint venture between Journey and Grenville will have been formed.

If Journey funds a further CDN$3,000,000 in development and exploration expenditures on the Silveria Property, on or before November 30, 2008, Journey will have earned a 50% interest in and to the Property under the joint venture. At this time, Journey will maintain an option to earn an additional 25% interest in and to the Property for a total 75% interest, by funding a further CDN$6,000,000 in development and exploration expenditures on the Property on or before January 31, 2011.

Mr. Paul Gill, President of Grenville, commented: "We are very pleased to have entered into agreements with Journey and look forward to jointly developing the Property with the continued intention of placing the Property into production as soon as possible".

Mr. Jack Bal, President of Journey, commented: "We are very excited about entering into agreements with Grenville Gold on the Silveria Property and look forward to working together with the objective of advancing the Property into production".

Journey Resources Corp. is a mineral-exploration resource company trading on the TSX Venture Exchange (Symbol:JNY) and the Frankfurt Stock Exchange (Symbol:JL4). The Company is currently exploring three advanced exploration-stage projects; the Vianey Mine Silver Project, the Musgrove Gold Project and the Empire Mine Project. The Vianey Mine Project consists of concessions totaling 5,022 hectares in Guerrero State west of Mexico City, Mexico. The Musgrove Project is a prospect for a disseminated gold bulk-tonnage surface project similar to the Beartrack Mine, a nearby former gold producer. The Empire Mine Project is a poly-metallic skarn deposit containing copper, zinc, gold and silver ores. In addition, the Company recently entered into agreements whereby its has agreed to purchase a 100% right, title and interest in and to certain mining claims comprising the Silver Mountain Property in Lima, Peru. The Silver Mountain Property is an advanced stage exploration property covering approximately 1,684 hectares, located approximately 75 kilometers east of Lima City and 50 kilometers south of Peru Copper's Toromocho property and Pan American Silver's Morococha Mine.

Grenville Gold Corporation is a junior resource company seeking prospective properties in Peru and Ecuador. The Company has three operating subsidiaries: a 90%-owned subsidiary in Peru which owns the Silveria Property, Espanola Property and the Chorobal Property; Minera MineGreville S.A. in Ecuador which has an option to acquire the La Tigrera Project; and Parkman Diamond Corp. in Ontario, Canada which owns the Parkman Diamond Prospect. Grenville Gold plans to leverage the experience of its board and management in exploration and mining to develop its growth strategy in North and South America.


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All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission, the Ontario Securities Commission, and the Alberta Securities Commission.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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