Knight Resources Ltd.

Knight Resources Ltd.

March 05, 2010 16:00 ET

Knight Resources Ltd.: Drilling to Proceed at West Raglan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 5, 2010) - Mr. Harvey Keats, Chief Executive Officer of Knight Resources Ltd. (TSX VENTURE:KNP)(FRANKFURT:KRL), reports that joint venture partners Anglo American Exploration (Canada) Ltd. ("AAEC") and Knight have finalized the design and planning of the 2010 exploration program for the West Raglan Project in Quebec. A budget of $5,000,000 has been formally approved by both parties. In addition, AAEC has agreed to allow Knight to earn back to its original 49% interest in the joint venture, from its current 45.32% interest, by funding an increased contribution to the 2010 budget.

The 2010 program will follow up the results of the 2009 field program which successfully identified 21 targets in 5 new areas on the property that are characterized by widespread ultramafic rocks, geophysical responses and sulphide showings. The program will explore targets primarily along the Raglan horizon, but also within the Povungnituk Group. The objective of the project is to build on the success to date at Frontier and to identify sufficient resources to justify a stand-alone mine and mill operation. Two drills will be active through the summer months, in addition to carrying out further surface exploration. It is anticipated that the program will commence in early June.

General Information:

The West Raglan Project is located within the Cape Smith Nickel Belt of northern Quebec. The Cape Smith Belt also hosts Xstrata's Raglan Nickel deposit which contains in excess of 35 million tonnes grading 2.9% nickel in over 140 mineralized zones. Xstrata's Raglan property is located 90 kilometres east of the West Raglan property. Exploration work carried out by AAEC and Knight at West Raglan over the past seven years, including 173 drill holes, has been successful in discovering 12 mineralized zones in just one area, known as Frontier.

The West Raglan Project is a joint venture between Anglo American Exploration (Canada) Ltd. ("AAEC") (54.68%) and Knight (45.32%). The project is located in northern Quebec and covers an area of over 710 square kilometres, including approximately 65 kilometres of the Raglan Horizon along which extensive ultramafic rocks have been identified. AAEC is the operator of the West Raglan Project and is responsible for the sampling, submittal of samples for assay and QA/QC. Robin Adair, VP of Exploration, is the Qualified Person responsible for the technical information in this news release.


Harvey Keats, CEO

Cautionary Statement:

Certain phrases in this news release are "forward-looking statements." Forward-looking statements are identified by wording such as "is anticipated" and "will", and apply specifically to the timing and planning of the 2010 program on West Raglan which can be negatively affected by weather, exploration results and contractor performance among others. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. This press release refers to information about Xstrata's Raglan property on which the Company has no right to explore or mine. Investors are cautioned that mineral deposits on other properties are not necessarily indicative of mineral deposits on Knight's properties. The reader is cautioned not to place any undue reliance on any forward-looking statement or reference to other properties.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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