MBMI Resources Inc.
TSX VENTURE : MBR

MBMI Resources Inc.

October 30, 2007 19:16 ET

MBMI Announces 234 Exploration Drill Hole Results-Alpha Project; Includes 20.5 M Grading 2.03% Nickel

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 30, 2007) - MBMI RESOURCES INC. (TSX VENTURE:MBR) ("MBMI") (the "Company") wishes to report results of 234 exploration drill holes completed on the 3200 hectare Alpha, Philippines nickel project located in Narra, Palawan. A total of 4500 meters were drilled, with the average depth of each hole being 19 meters. The drilling program resulted in 149 holes having at least one meter of mineralized intercept grading 1.0% nickel or better. The average length of mineralized intersection of these 149 holes was 5.35 meters. The program has identified several high-grade nickel locations within the Small Scale Mine operating (SSMO) permit areas granted to the Company's subsidiaries.

Results included: Hole PL05 which assayed 2.03% nickel over 20.55 meters. Hole PL05, and several other holes in close proximity, have reported nickel grade assays that have lead to a more detailed closer spaced grade control drilling program within an area identified as the "Patricia Louise" SSMO area on the accompanying map. Results from the grade control program will be reported in a subsequent news release (The Company utilized a 1% Nickel grade control cut-off in its program).

Mineralization commences in many instances within a meter of the surface. The holes were drilled on a 100 meters by 100 meters spacing in order to identify mineralized areas within the three Small Scale Mining Operating (SSMO) permit areas on the Alpha property. In each drill hole, samples were taken each meter down the hole. All of the samples from the holes drilled were analyzed for Nickel (Ni) and Iron (Fe).

The following table includes significant exploration hole assays from the "Patricia Louise" SSMO permit area.



------------------------------------------------------
Meters
greater than
FROM TO or equal to
HOLE-ID (meters) (meters) 1% Ni % Ni % Fe
------------------------------------------------------
PL04 1.00 6.00 5.00 1.86 12.26
------------------------------------------------------
PL05 0 20.55 20.55 2.03 9.33
------------------------------------------------------
PL006 1.00 8.00 7.00 2.06 18.66
------------------------------------------------------
PL010 0 8.00 8.00 1.88 11.49
------------------------------------------------------
PL11 2.00 8.00 6.00 1.86 14.95
------------------------------------------------------
PL19 0 13.00 13.00 1.78 8.42
------------------------------------------------------


For Full Exploration Drill Hole results please see below or click on the following link: http://www.ccnmatthews.com/docs/MBMI_FullExpResults.pdf

Drill Hole location map attached: http://www.ccnmatthews.com/docs/MBMI_DrillHoleLoc.pdf

Note-Drill Holes not having 1%Ni or greater intercepts are indicated to be of 0 value.

It should be noted the Company has not yet established NI 43-101 compliant mineral resources or mineral reserves that would support a commercial mining operation. There is no guarantee that future exploration will result in the discovery of mineral resources or that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. At this time, the Company's subsidiaries have the right to carry out small scale mining operations in accordance with the government regulations and not the right to commence full scale commercial production. There is also no guarantee that the current small scale mining operation will be economic. The SSMO's allow the shipment of up to 50,000 dry metric tonnes of material per year for a two year period from each 20 hectare permitted area.

Analytical Techniques and Methodology

The drill core is sampled on a per meter basis and every sample is assayed. After logging the core (BQ) is split and one half is delivered to the Ostrea Mineral Laboratory either in Manila, Philippines or at the Narra project site where it is dried, crushed to minus 1/4" and then reduced to a 300 gram to 500 gram fraction via a two stage riffle splitter. The split fraction is then pulverized to 90% minus 200 mesh. A 0.25 gram charge of minus 200 mesh pulp material is digested in a single stage three acid process and then finished with AAS for Ni, Fe and Co. It is standard procedure in the Ostrea laboratory that every 10th sample is duplicated and the analysis confirmed. Outside of a single batch of 533 samples sent to Ultratrace Laboratory ("UTL") in Perth Australia in May 2007, no outside QAQC check assaying protocol is in place in respect of the project. The UTL samples were analysed via XRF for Ni / Co / Cu / Cr / Mg / Mn / Fe / Al / Ca / Zn & As; with results comparing very favourably with equivalent original assays. The half cores, the coarse rejects and the pulps have been stored in secure storage in the Narra area.

Mr John F. Cook, (P.Eng) is the designated Qualified Person (QP) as defined in National Instrument 43-101, and has reviewed and approved the disclosure of the foregoing data.

At present, the Company controls eight nickel laterite projects in Palawan and Samar in the Philippines covering an area greater than 22,000 hectares. The Alpha property is subject to three small scale mining operation permits issued by the government of the Philippines and to date the Company has excavated approximately 55,000 wet metric tonnes of mineralized material which is intended to be sold to Asian purchasers of such material when shipping capacity is available. The excavated material has been transported to the stockpiling area at the coast, where it is being dried, segregated and crushed in preparation for shipment. Limited excavation can be carried out during heavy rainfall periods as has been experienced recently.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael T. Mason, President and Director

This news release may contain forward-looking information including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking information includes disclosure regarding possible future events, or 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. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.



ALPHA PHILIPPINES (SSMO)
PROPERTY EXPLORATION
HOLES RESULTS

ALPHA SOUTH
(SSMO)
Meters
greater than
or equal to
HOLE-ID FROM TO 1%Ni % Ni %Fe

AS001 0.00 21.00 0.00 - -
AS002 0.00 21.05 0.00 - -
AS003 0.00 30.25 0.00 - -
AS004 0.00 18.85 0.00 - -
AS005 0.00 23.95 0.00 - -
AS006 0.00 1.00 1.00 1.07 18.57
AS007 0.00 13.00 13.00 1.76 11.13
AS08 0.00 1.00 1.00 2.49 5.75
AS09 0.00 5.00 5.00 1.22 15.91
AS010 1.00 3.00 3.00 1.10 16.36
AS11 0.00 5.05 5.00 2.04 15.10
AS13 1.00 2.00 2.00 1.43 7.30
AS15 1.00 6.00 6.00 1.40 14.87
AS17 0.00 7.00 7.00 1.89 17.11
AS19 0.00 13.00 13.00 1.77 19.21
AS021 3.00 10.00 7.00 0.25 26.87
AS23 0.00 10.00 10.00 1.57 12.35
AS24 0.00 5.00 5.00 1.65 17.90
AS25 0.00 6.00 6.00 1.39 14.65
AS26 0.00 8.00 8.00 1.89 16.06
AS26 9.00 15.00 6.00 1.24 13.30
AS27 0.00 9.00 9.00 1.50 18.95
AS028 0.00 10.00 10.00 1.80 12.99
AS028 14.00 15.00 1.00 1.04 12.83
AS028 17.00 19.00 2.00 1.24 13.15
AS29 0.00 2.00 2.00 1.58 31.41
AS29 3.00 7.00 4.00 1.69 9.96
AS29 8.00 9.00 1.00 1.15 8.75
AS29 11.00 12.00 1.00 1.28 6.93
AS30 0.00 7.00 7.00 1.34 15.94
AS31 0.15 6.00 6.00 1.48 11.57
AS32 0.00 10.80 0.00 - -
AS33 0.00 9.00 8.00 1.78 16.95
AS35 0.00 3.00 3.00 1.25 20.28
AS37 0.00 5.00 3.00 1.15 18.96
AS38 0.00 5.00 5.00 1.16 10.39
AS039 0.00 7.00 7.00 1.59 17.65
AS040 0.00 20.40 0.00 - -
AS42 0.00 23.00 23.00 1.81 17.16
AS050 0.00 5.00 5.00 1.97 20.46
AS51 1.00 2.00 1.00 1.44 16.97
AS52 0.00 2.00 2.00 1.36 18.10
AS53 0.00 3.00 3.00 1.34 14.45
AS054 4.00 5.00 5.00 1.44 14.03
AS055 0.00 2.00 2.00 1.17 15.33
AS56 0.00 8.00 8.00 1.66 15.74
AS57 0.00 8.00 5.00 1.15 19.65
AS59 0.00 1.00 1.00 1.02 12.13
AS60 1.00 4.00 3.00 1.34 11.46
AS61 0.00 6.00 6.00 1.05 13.87
AS61 8.00 9.00 1.00 1.17 12.13
AS62 1.00 5.00 4.00 1.71 12.49
AS063 0.00 2.00 2.00 1.56 13.02
AS064 0.00 4.00 4.00 1.37 10.54
AS65 0.00 5.00 5.00 1.37 13.51
AS66 1.00 8.00 7.00 1.69 14.43
AS067 1.00 8.00 7.00 1.41 13.46
AS068 0.00 8.00 8.00 1.63 21.47
AS70 1.00 3.00 2.00 1.12 16.52
AS72 0.00 9.00 9.00 2.15 16.24
AS72 11.00 20.00 9.00 1.31 11.29
AS077 0.00 2.00 2.00 1.25 24.26
AS78 1.00 11.00 10.00 1.89 13.70
AS79 0.00 4.85 0.00 - -
AS80 0.00 23.85 0.00 - -
AS81 2.00 7.00 5.00 1.30 17.03
AS82 0.00 5.00 5.00 1.26 24.06
AS84 0.00 29.80 0.00 - -
AS85 0.00 1.00 1.00 1.02 30.10
AS86 0.00 10.00 0.00 - -
AS087 0.00 7.50 0.00 - -
AS088 1.00 2.00 1.00 1.18 14.08
AS89 2.00 4.00 2.00 1.09 18.00

NARRA NICKEL
(SSMO)
NN01 0.00 2.00 2.00 1.09 11.89
NN02 0.00 20.25 0.00 - -
NN03 0.00 4.00 4.00 1.66 13.12
NN03 5.00 7.00 2.00 1.24 9.39
NN04 2.00 5.00 3.00 1.07 13.99
NN05 0.00 26.00 0.00 - -
NN06 0.00 4.00 4.00 1.22 24.71
NN07 0.00 2.00 2.00 1.16 33.46
NN009 1.00 2.00 1.00 1.04 15.15
NN010 0.00 20.30 0.00 - -
NN11 2.00 3.00 1.00 1.00 12.52
NN11 8.00 9.00 1.00 1.14 11.49
NN12 0.00 9.00 9.00 1.41 20.85
NN13 0.00 22.05 0.00 - -
NN14 1.00 2.00 1.00 1.16 20.94
NN14 4.00 5.00 1.00 1.13 13.08
NN15 0.60 4.00 4.00 1.18 16.41
NN16 0.00 32.20 0.00 - -
NN17 0.00 10.00 0.00 - -
NN18 0.00 1.00 1.00 1.05 38.81
NN19 1.00 2.00 1.00 1.44 29.19
NN20 0.00 4.00 4.00 1.38 19.76
NN21 0.00 10.00 0.00 - -
NN022 0.00 21.65 0.00 - -
NN23 0.00 22.45 0.00 - -
NN24 0.00 10.00 0.00 - -
NN25 0.00 20.80 0.00 - -
NN26 0.00 2.00 2.00 1.16 27.20
NN26 3.00 4.00 1.00 1.29 10.17
NN027 1.00 2.00 1.00 1.00 9.62
NN028 1.00 2.00 2.00 1.16 30.58
NN29 0.00 26.70 0.00 - -
NN30 0.00 10.00 0.00 - -
NN31 0.00 23.40 0.00 - -
NN32 0.00 1.00 1.00 1.12 31.35
NN033 0.00 5.00 4.00 1.65 14.23
NN34 2.00 6.00 4.00 1.28 19.65
NN35 0.00 23.65 0.00 - -
NN36 0.00 15.85 0.00 - -
NN37 0.00 10.00 0.00 - -
NN38 0.00 1.00 1.00 1.42 14.87
NN39 0.00 3.00 3.00 1.84 21.19
NN40 0.00 4.00 4.00 1.66 15.23
NN041 0.00 7.00 7.00 1.73 15.50
NN042 0.00 20.10 0.00 - -
NN043 0.00 10.00 0.00 - -
NN045 0.00 25.50 0.00 - -
NN46 0.00 10.00 0.00 - -
NN47 0.00 4.00 4.00 1.33 21.83
NN48 0.00 3.00 3.00 1.26 27.02
NN049 0.00 10.00 0.00 - -
NN050 0.00 8.00 8.00 1.39 13.07
NN051 0.00 10.00 0.00 - -
NN052 0.00 10.00 0.00 - -
NN053 0.00 7.00 6.00 1.52 23.40
NN053 11.00 15.00 4.00 1.05 14.75
NN054 1.00 5.00 4.00 1.23 21.39
NN055 2.00 6.00 4.00 1.55 23.02
NN057 0.00 2.00 1.00 1.09 45.43
NN058 0.00 2.00 2.00 1.15 28.43
NN059 3.00 5.00 2.00 1.23 19.90
NN060 0.00 2.00 2.00 1.05 11.23
NN061 0.00 15.70 0.00 - -
NN062 0.00 5.00 5.00 1.35 16.70
NN064 1.00 2.00 1.00 1.02 27.72
NN065 1.00 4.00 3.00 1.46 25.03
NN065 8.00 9.00 1.00 1.05 14.95
NN066 0.00 10.00 0.00 - -
NN068 0.00 10.00 0.00 - -
NN069 0.00 10.00 0.00 - -
NN070 0.00 10.00 0.00 - -
NN071 0.00 1.00 1.00 1.15 28.38
NN072 0.00 6.00 6.00 1.10 15.90
NN073 0.00 6.00 6.00 1.28 14.63
NN073 11.00 12.00 1.00 1.27 9.98
NN074 0.00 5.00 5.00 1.41 20.47
NN075 0.00 10.00 0.00 - -
NN076 0.00 10.00 0.00 - -
NN077 0.00 10.00 0.00 - -
NN078 0.00 10.00 0.00 - -
NN079 1.00 4.00 3.00 1.35 13.74
NN080 0.00 3.00 3.00 1.73 19.83
NN081 0.00 10.00 0.00 - -
NN082 1.00 5.00 4.00 1.46 17.78
NN083 1.00 5.00 4.00 1.35 29.43
NN084 1.00 16.00 15.00 1.76 22.81
NN085 0.00 10.00 0.00 - -
NN086 0.00 7.00 7.00 1.74 13.62
NN086 24.00 27.00 3.00 1.21 7.13
NN087 0.00 1.00 1.00 1.00 38.06
NN088 0.00 10.00 0.00 - -
NN089 0.00 10.00 0.00 - -
NN090 0.00 11.00 11.00 2.03 16.19
NN091 0.00 2.00 2.00 1.58 27.43
NN092 0.00 2.00 2.00 1.77 27.11
NN093 0.00 2.00 2.00 1.20 25.73
NN094 0.00 1.00 1.00 1.09 31.90
NN095 0.00 4.00 4.00 1.37 26.25

PATRICIA
LOUISE
(SSMO)
PL001 0.00 18.25 0.00 - -
PL002 0.00 10.00 10.00 1.27 10.95
PL003 0.00 7.00 7.00 1.37 10.15
PL04 1.00 6.00 5.00 1.86 12.26
PL05 0.00 20.55 20.55 2.03 9.33
PL006 1.00 8.00 7.00 2.06 18.66
PL007 0.00 20.05 0.00 - -
PL008 0.00 16.72 0.00 - -
PL09 0.00 12.00 12.00 1.93 11.22
PL09 15.00 16.00 1.00 1.06 7.18
PL010 0.00 8.00 8.00 1.88 11.49
PL11 2.00 8.00 6.00 1.86 14.95
PL12 0.00 10.00 10.00 2.19 10.48
PL013 1.00 5.00 4.00 1.48 12.36
PL014 0.00 20.90 0.00 - -
PL15 0.00 25.80 0.00 - -
PL016 1.00 6.00 5.00 1.56 6.80
PL19 0.00 13.00 13.00 1.78 8.42
PL19 15.00 16.00 1.00 1.14 7.41
PL022 0.00 10.00 10.00 1.60 12.71
PL023 0.00 7.00 7.00 1.66 11.78
PL024 0.00 8.00 8.00 1.88 12.11
PL26 0.00 13.85 0.00 - -
PL27 0.00 10.00 0.00 - -
PL028 0.00 6.00 6.00 1.79 14.63
PL29 0.00 11.00 11.00 1.91 15.04
PL030 0.00 1.00 1.00 1.73 25.04
PL031 3.00 4.00 4.00 1.38 16.03
PL033 0.00 6.00 6.00 1.57 17.02
PL034 0.00 5.00 6.00 1.59 20.73
PL035 0.00 1.00 1.00 1.17 16.22
PL036 0.00 20.35 0.00 - -
PL037 0.00 23.35 0.00 - -
PL038 0.00 22.50 0.00 - -
PL039 0.00 24.75 0.00 - -
PL040 0.00 5.00 5.00 1.53 15.52
PL047 0.00 22.80 0.00 - -
PL049 0.00 7.85 0.00 - -
PL051 0.00 8.60 0.00 - -
PL053 0.00 11.50 0.00 - -
PL054 0.00 13.75 0.00 - -
PL055 0.00 26.30 0.00 - -
PL056 0.00 23.75 0.00 - -
PL059 0.00 24.70 0.00 - -
PL060 0.00 15.00 15.00 1.66 16.22
PL61 0.00 8.90 0.00 - -
PL62 0.00 21.75 0.00 - -
PL063 0.00 28.30 0.00 - -
PL064 1.00 3.00 2.00 1.18 12.13
PL065 0.00 5.00 6.00 1.35 19.30
PL066 0.00 11.00 11.00 1.68 10.15
PL066 14.00 18.00 4.00 1.30 6.98
PL067 0.00 4.00 4.00 1.25 13.44
PL070 0.00 1.00 1.00 1.17 39.78
PL071 4.00 5.00 1.00 1.02 17.93
PL072 0.00 4.00 4.00 1.56 18.26
PL073 0.00 12.00 12.00 1.58 13.27
PL074 0.00 23.55 0.00 - -
PL075 0.00 24.05 0.00 - -
PL81 0.00 16.85 0.00 - -
PL083 0.00 5.00 5.00 1.26 19.73
PL084 0.00 17.05 0.00 - -
PL85 0.00 1.00 1.00 1.20 31.14
PL086 0.00 22.40 0.00 - -
PL089 0.00 1.00 1.00 1.42 36.55
PL089 2.00 4.00 2.00 1.25 12.83
PL090 0.00 17.70 0.00 - -
PL091 0.00 5.00 0.00 - -
PL92 0.00 1.00 1.00 1.61 13.48
PL93 0.00 23.05 0.00 - -
PL94 0.00 20.40 0.00 - -
PL95 0.00 15.45 0.00 - -
PL096 0.00 19.15 0.00 - -
PL97 8.00 9.00 1.00 1.32 7.72
PL98 1.00 2.00 1.00 1.13 12.38
P0099 0.00 14.25 0.00 - -
PL100 1.00 2.00 1.00 1.02 9.41
PL101 0.00 5.00 4.00 1.40 17.20
PL103 0.00 20.25 0.00 - -
PL0104 0.50 6.00 6.00 1.71 12.78
PL105 2.00 7.00 5.00 1.38 10.46
PL111 0.00 3.10 3.00 1.70 16.64
PL111 5.00 8.00 3.00 1.23 16.64
PL111 10.00 13.00 3.00 1.23 11.34
PL113 0.00 24.30 0.00 - -


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