Magnus International Resources, Inc.

Magnus International Resources, Inc.

January 24, 2008 07:17 ET

Magnus International Resources Updates on Its Planned Uganda Drilling Program and Acquisition of 100% Interest in Two Projects Previously Held in Joint Ventures

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 24, 2008) - Magnus International Resources, Inc. ("Magnus" or the "Company") (PINK SHEETS:MGNU)(FRANKFURT:GVY1) is pleased to provide an update on its planned Uganda drilling program and on the acquisition of 100% ownership in two projects previously held in joint ventures at Mitoma and Mwerusandu.

Drilling Program

Preparations for the start of the 5000m RC drill program have been finalized at the Lugazi Project and drilling is expected to commence within the next two weeks. The Company decided, after investigating field conditions at each drill target that the drill program should start at Lugazi, which has experienced drier weather conditions over the last month. This alters the previous drill plan, announced on December 6, 2007, that drilling would commence at the Mashonga Project in southwest Uganda. As the southwestern part of Uganda is still experiencing bouts of rainfall, the Company thought it prudent to undertake the drilling at Mashonga after Lugazi is complete, to allow for improved weather conditions.

The drill program at the Lugazi Project, located 50km east of Kampala, will investigate a strong 300m - 700m wide gold-in-soil anomaly over a distance of at least 3.5km. This anomaly is coincident with a magnetic rich horizon, which was identified following a fixed wing high-resolution airborne geophysical survey, including magnetics and radiometrics.

The Mashonga Project in southwestern Uganda is located within the Buhweju goldfields which has historically produced the most gold in Uganda from artisanal sources. At Mashonga, the program will target the small-scale Mashonga mine area and artisanal workings, where high grade gold, together with high grade platinum and palladium grades, were recorded. Further drilling at Mashonga will also target a 3km by 500m wide gold-in-soil anomaly located approximately 1km east of the mine.

Drilling at the Mwerusandu Project in southwest Uganda will test a high grade trench intersection (20.5m at 3.5 g/t gold) across siliceous outcrop as well as a gold-in-soil anomaly developed southwards along the contact of a granite intrusion and meta-sediments.

Mr. Gavin Conway, head of Magnus' exploration in Africa, commented, "We are pleased with the progress we are making in getting our drilling program underway after the delays from late last year due to very heavy rainfalls throughout Uganda. We continue to be excited about the prospects at these key exploration projects, in particular the Mashonga Project, where we have some very high grade gold assays from surface and an artisanal mine shaft. We expect to announce the commencement of the drill program in the very near future."

Property acquisition

Through its wholly-owned subsidiary, African Mineral Fields Inc ("AMF"), Magnus has acquired a 100% interest in two projects, Mitoma and Mwerusandu. Both projects were the subject of earn-in agreements totaling US$4 million in required exploration expenditures with AMF's previous joint venture partner, Flemish Investments Ltd. On November 8, 2007, AMF and Flemish Investments signed a licence transfer agreement, and the transfer of exploration licences to AMF was ratified by the Ugandan Department of Geological Survey and Mines on December 20, 2007. Thus Magnus has eliminated its previous obligation of US$4 million in required exploration expenditures to acquire its interest in Mitoma and Mwerusandu and now wholly owns both projects.

Mitoma Project

The Mitoma Project comprises eight exploration licenses (Kahungye, Rugoma, Rutaka, Nchwero, Kabira, Kabira East, Kabira West and Kabira North) on 438.49 square kilometers. Exploration to date on the Project has included the analysis of some 3,270 soil samples, deep auguring, 19 pits, sampling of more than 400 stream sediments at 180 locations, a regional aeromagnetic survey and radiometrics, as well as 17 kilometers of Project ground magnetic survey. As a result of this exploration, Magnus has identified three geochemical gold anomalies on the property, two of which are at a drill ready stage. The Kahungye anomaly measures 500m x 600m at the northern end, extending over 4km to the southeast. The Rugoma gold anomaly, over an area of about 2000m by 500m with co-incident elevated arsenic anomalism, is located about three kilometers east and south-east of the Kahungye anomaly.

Mwerusandu Project

The Mwerusandu Project comprises four exploration licenses (Mwerusandu North, Mwerusandu West, Nyamulindira and Kiana Mine) on 205.33 square kilometers. Exploration to date has included reconnaissance surveys and rock sampling that identified outcrops of light green scorodite rich quartzite with 4-6 grams per tonne of gold and identified visible gold in sub-cropping rocks. Follow-up trenching has identified a drill ready quartz vein outcrop with 20.4 grams per tonne of gold over 3.5m. Systematic surface soil sampling, with the collection of 1016 samples, has delineated two gold-in-soil anomalies at the contact between the Karagwe-Ankolean sediments and a granite pluton. Both the soil anomaly and high grade trench intersection will be drill tested during the current drill program which is currently under preparation.

About Magnus International Resources, Inc.

Magnus International Resources, Inc. (PINK SHEETS:MGNU) ( specializes in identifying, acquiring and developing precious and base metal properties. Magnus' objective is to develop a balanced global portfolio of early-to-advanced stage projects. Through its wholly-owned subsidiary, African Mineral Fields, Magnus has five Ugandan gold projects. The Company has a 100% interest in four of the projects and is earning a 60% interest in a fifth property. Magnus retains a 90% interest in a Sino-foreign joint venture gold exploration project at Huidong in China.

For further information please refer to the Company's filings with the SEC or on SEDAR or refer to Magnus' website at

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FORWARD LOOKING STATEMENTS This news release may include "forward-looking statements" regarding Magnus International Resources, Inc., and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Magnus expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to price volatility of gold and other metals; currency fluctuations; political, operational, and governmental approval and regulation risks in China and certain African countries. For a more detailed discussion of such risks and other factors, please see "Risk Factors" in our Form 10K for our most recently completed fiscal year, on file with the SEC at This document also contains information about adjacent properties on which Magnus has no rights to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not necessarily indicative of mineral deposits on Magnus' properties.

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