May 24, 2006 12:07 ET

Moydow Mines International Inc.: Drilling Commences on the Hwidem Gold Project in Ghana

DUBLIN, IRELAND--(CCNMatthews - May 24, 2006) - Moydow Mines International Inc. ("Moydow")(TSX:MOY)(AIM:MOY) is pleased to announce that drilling is now underway at its Hwidem gold project which is located in the Brong Ahafo region of Ghana. An initial programme of 2500 metres is planned to test a number of gold anomalies which were previously identified.

The licence is strategically situated immediately east of the Newmont owned Ahafo project which has declared reserves of over 12 million ounces, and which lies along a well defined zone of gold mineralization known as the Yamfo-Sefwi or Ahafo belt and covers some 25 square kilometres. The licence is bordered on the west by the Ntotoroso property where Moydow has a 2% royalty on any production in excess of 1.2 million ounces.

The Hwidem licence is underlain by plutonic rocks comprising part of an extensive massif known as the Dixcove suite of hornblendic, non-foliated granodiorites.

Within the licence area there is a distinct compositional break in that the northern part is characterized by gabbros, gabbro-diorite and diorite while the southern part contains a more differentiated suite of quartz diorites and granodiorites.

Moydow has previously carried out an exploration program that included geophysics, soil geochemistry, geological mapping and rock sampling. The results indicate a general geological and mineralization scenario that strongly resembles the adjoining Ntotoroso licence which has been shown to contain a gold resource of approximately three million ounces.

The geochemical survey conducted on the property returned gold anomalies in soils but interpretation of this data is hampered by the fact that most of the licence is covered by a thin but consistent veneer of flood plain detritus from the nearby river Tano.

The current drill program is designed to pierce this veneer and deeper drilling will follow up any bedrock anomalies encountered and zoom in on Ntotoroso-style targets.

Because of the proximity of multi-million ounce deposits, Hwidem is considered a top priority in the 2006 Moydow exploration budget. Remapping of the project as well as a second round of geophysics will be done to compliment the planned drilling. It is anticipated that results will start to come through in the next several weeks.

The Company is engaged in the acquisition, exploration and development of mineral properties worldwide. Corporate information is available on the Company's website The Company is listed on the Toronto Stock Exchange and the Alternative Investment Market (AIM) of the London Stock Exchange under the symbol "MOY". The Company recently signed an agreement, subject to approvals, to merge with Diamond Fields International Ltd., a Canadian diamond exploration and development company (TSX-"DFI").

On behalf of the Board of Directors

Moydow Mines International Inc.:


Brian Kiernan, President and Chief Executive Officer

Contact Information

  • Moydow Mines International Inc.
    Michael Power
    Vice President, Corporate Development
    (416) 703-3751 or Toll Free: 1-877-211-8877
    Moydow Mines International Inc.
    74 Haddington Road-Dublin 4, Ireland
    011 353 1 667-7611
    011 353 1 667-7622 (FAX)