May 23, 2006 09:30 ET

Maestro Announces Option to Acquire Six Nevada Gold Properties

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 23, 2006) - Maestro Ventures Ltd. (TSX VENTURE:MAP) -

Option Agreement

Maestro Ventures Ltd. announces that, subject to TSX Venture Exchange approval, the Company has entered into an agreement with Palladon Ventures Ltd. and Genesis Corporation for an option to acquire from Palladon a 75% interest in six gold exploration projects covering a total of approximately 5,850 acres in Nevada and Utah. The Company may exercise the option by issuing 450,000 common shares of the Company to Palladon and by issuing 850,000 Shares to Genesis within five business days of Exchange approval. The Company has also agreed to incur expenditures of at least US$5,000,000 over five years including expenditures of US$1,200,000 during calendar 2006.

Genesis Gold Corp.

Genesis Gold Corp. is a private holding company based in Salt Lake City, UT. John Zimmerman and Don Merrick of Genesis have extensive experience in all facets of gold exploration in Nevada and will oversee the work programs. Mr. Zimmerman was the co-discoverer of the Chimney Creek (Twin Creeks) Mine in Nevada, which is now operated by Newmont Mining. Mr. Zimmerman has a M.Sc. from the University of Arizona and is considered an expert in Carlin-style exploration. Mr. Merrick has been active in Great Basin gold exploration for over 25 years and has been involved in several successful exploration efforts. He worked as a consultant for Santa Fe Pacific on the Twin Creeks (NV) discovery and helped J.L. Carroll and Associates discover and delineate reserves at the Black Pine (ID) Mine and the Goldstrike (UT) Mine. Most recently he played a pivotal role in the Birkachan Discovery for Kinross in Far Eastern Russia. For12 years, as a consultant then as an employee, Mr. Merrick was the primary project generator and evaluator for BHP Minerals International in the Great Basin. In addition to Nevada, he has worked in Central America, China, and Russia. Since leaving BHP, he has done grubstake generative work for Gold Fields and Kennecott optioning properties to Gold Fields, Western Mining, and MK Gold. Most recently, he helped found Gateway Gold Corp. and has acted as Exploration Manager on the Big Springs property package resulting in a significant new discovery in north central Nevada. Mr. Merrick has a B.Sc. from Idaho State University.

Properties under the option are as follows:

Caldera, Nevada

The Caldera property is located in the Walker Lane region in west-central Nevada and currently encompasses over 2000 acres of unpatented claims. The property exhibits widespread volcanic-hosted epithermal gold/silver mineralization similar in style to other major systems in the vicinity: the Round Mountain mine (14 million ounces) and Newmont's Midway project. Previous surface work on the property has generated abundant ore-grade rock chip samples (up to greater than 1 opt gold and greater than 20 opt silver) scattered over an area at least 1.5 miles long by 0.5 miles wide. Drilling has intersected ore-grade values in at least three areas including 10 feet at 1.1 opt Au, 25 feet at 0.25 opt Au, and 100 feet at 0.03 opt Au at depths of less than 500 feet. These intercepts have not been sufficiently followed up and several surface anomalies remain untested. Caldera has outstanding potential to host both bonanza-grade veins and bulk-tonnage lower grade ore bodies.

Kings Canyon and New Butte Properties, Utah

The Kings Canyon and New Butte properties are located in the Great Basin region in west-central Utah and currently encompass approximately 1,370 acres of unpatented claims and a state minerals lease. Gold mineralization is a Carlin-style system hosted at shallow depths in Paleozoic carbonates and controlled by steep feeder faults. The property is immediately adjacent to and encloses on three sides a separate block of claims held by Crown Resources that contains a resource of greater than 200,000 ounces of gold. This defined mineralization trends directly onto the Genesis property where it is inadequately tested. In addition, many additional mineralized faults have been delineated on the property, defining numerous untested targets in areas where the favourable horizon is at very shallow depths. The property has the potential to host several hundred thousand ounces of near-surface oxide gold mineralization with low production costs.

Windemere, Nevada

The Windemere property is situated in northeast Nevada and covers nearly 2000 acres of unpatented mining claims and leased fee land. The Windermere prospect is a massive silicified area in upper Paleozoic carbonate and clastic rocks covering several square miles that has never been drill tested. Surface sampling of this system has demonstrated very strong pathfinder anomalies of arsenic (up to 86,000 ppm), antimony (up to ppm 133), and mercury (up to 100ppm) along with gold values up to 350 ppb. The system is believed to represent either a large hot spring system similar to MacDonald Meadows or the upper level silicified cap above a high-grade high-sulfidation system like El Indio.

Tobin, Nevada

The Tobin Property is situated in central Nevada and covers 240 acres of unpatented mining claims. At and around the Tobin Property, abundant silicification typical of epithermal gold deposits occurs over several square miles as it does at the nearby Goldbanks property which contains several million ounces of both low-grade and high-grade gold mineralization. The silicification takes the form of both structural and stratabound jasperoids in a favorable sequence of Mesozoic carbonate and clastic rocks. Altered rocks contain highly elevated metal value with up to 0.067 opt gold, 1100 ppm arsenic, over 200 ppm antimony, and up to 29 ppm mercury; none of the geochemical anomalies have been drill tested. The strength of the alteration at Tobin demonstrates a large system with the capacity to host both bonanza grade veins and bulk tonnage lower grade deposits.

Green Springs, Nevada

Green Springs is situated in central Nevada and covers 240 acres of unpatented mining claims. These claims encompass the down dip projections of Carlin-style gold deposits which were mined in the late 1980's by the USX Corp., producing 60,000 ounces of gold at a grade of 0.06 opt Au. Alteration in the area is widespread yet previous exploration was narrowly focused along one target horizon. It is believed the district is ripe for a thorough re-evaluation and that numerous compelling new targets can be developed within this gold system. It has the potential to host several more low-cost gold ore bodies.

Proposed Non-Brokered Private Placement

The Company also announces, subject to Exchange approval, a proposal to issue up to 4,000,000 Units of the Company at a price of $0.40 per Unit for aggregate gross proceeds of CDN $1,600,000. Each Unit consists of one share and one-half of one share purchase warrant. Each whole warrant entitles the holder to acquire one additional share for a period of two years at a price of $0.65 per Share. The Company has agreed to pay a 7% commission of gross proceeds plus 7% of the number of Units sold. Proceeds will be used to fund the 2006 exploration budget of US$1,200,000.

Officer Appointment and Stock Option Grants

The Company is pleased to announce the appointment of Mr. Stephen Tong as Corporate Secretary of the Company. Mr. Tong is a securities lawyer and is a graduate of the University of Manitoba.

The Company also wishes to announce the granting of 700,000 stock options to officers and directors at a price of $0.40 for a period of five years.


Maestro President Allan Williams comments, "We are excited to be focused on gold exploration in Nevada and making these properties the core assets in Maestro."

Palladon President Don Foot comments, "With this relationship Palladon can focus on the development of its core assets in Utah and keep a carried interest in our exploration-stage projects in Nevada."

On Behalf of the Board of Directors,

Allan Williams, President

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any state securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable securities laws or an exemption from such registration is available.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.

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