NXA Inc.

November 20, 2007 18:22 ET

NXA Inc. Announces Initial Results From 2007 Exploration Program on Trail Peak Property

TORONTO, ONTARIO--(Marketwire - Nov. 20, 2007) - NXA INC. (TSX VENTURE:NXI) ("NXA" or the "Company") is pleased to announce that it has received the first geochemical results from the recently completed exploration program on its Trail Peak Property, a Porphyry Cu-Mo-Au target located in the Omineca Mining Division near Smithers, British Columbia. Exploration work in 2007 on Trail Peak consisted of clearing trails to improve ground access, reconnaissance soil sampling, and line-cutting. Approximately 15.4 km of grid, with 400m spaced lines was established, and designed to test an area covered by over-burden west of the area where historical exploration work had been conducted. The sampling revealed an elevated copper-in-soil anomaly ( greater than 100 ppm and up to 1170 ppm Cu) that covers an area approximately 1800 m long and 100 to 400 m wide. Elevated molybdenum-in-soil is also coincident with the elevated copper in this area. These results are significant as this area is beneath cover, has never been drill tested and is directly adjacent to a 300 x 500 m area of intense phyllic alteration with zones of quartz-tourmaline breccia, typically associated with Porphyry Cu-Mo-Au mineralization.

The Company is planning to conduct follow-up work in early 2008 consisting of infill soil sampling and an induced-polarization geophysical survey to improve drill hole targeting for a drilling program.

Most of the previous work on the Trail Peak Property was conducted by Texas Gulf between 1968 and 1975. Texas Gulf discovered the prospect through reconnaissance stream sediment sampling in an effort to located additional Porphyry Cu-Mo-Au targets in the Babine Lake area similar to the Bell (71 MT @ 0.46% Cu(i), Granisle (52 MT @ 0.41% Cu(i) and Morrison (206.9 MT @ 0.39% Cu(ii) deposits). Work conducted by Texas Gulf consisted of trenching, geological mapping, prospecting and the drilling of 1,086 m of core in twelve drill holes generally less than 60 m each in length. Assay results from this drilling are not available, although copper mineralization was noted in the logs from several holes. The only significant work since 1975 was completed by Hera Resources in 1996, consisting of prospecting, mapping, soil sampling and induce-polarization geophysics in the region immediately east of the current work.

(i) Data derived from BC Government Ministry of Energy, Mines and Petroleum Resources - MINFile Production Reports.

(ii) Data derived from Pacific Booker Minerals Inc. NI43-101 Report - Mineral Resources Update, Morrison Project, Omineca Mining Division, British Columbia, May 4, 2007.

NXA can earn a 100% interest in the Trail Peak Property, as well as the Topley-Richfield and Axelgold Properties in northern British Columbia, by fulfilling the terms of option agreements with the vendors of the properties that require in the aggregate payments of $360,000 in cash, the issuance of 1,200,000 common shares of NXA and the incurrence of $2,100,000 in exploration expenditures over 4 years. Please see the Company's press releases of November 27, 2006 and August 16, 2007, as well as the other disclosure documents of the Company (which include a technical report with respect to the Topley-Richfield property), copes of which are available on www.SEDAR.com, for additional information.

In addition to conducting exploration work on the Trail Peak Property, the Company has also completed reconnaissance exploration work in 2007 on the Axelgold and Topley-Richfield properties, the Company's other exploration projects in the Omineca Mining Division near Smithers, British Columbia. Rock and soil samples resulting from the exploration work on these properties have been sent for analysis and are pending.

Exploration work was conducted by Caracle Creek International Consulting, Inc ("CCIC") under the supervision of CCIC's Operations Manager (Western Division), Stephen Wetherup, P.Geo. (APEGBC). All rock and soil samples were submitted to Acme Analytical Laboratories in Smithers, Canada (an ISO 9001:2000 certified laboratory) directly by CCIC representatives.

This press release has been reviewed and approved by Stephen Wetherup, P.Geo., an independent consultant and Qualified Person pursuant to National Instrument 43-101, working with Caracle Creek International Consulting Inc.


NXA is a mineral exploration company with mineral properties in British Columbia, Canada. NXA is listed on Tier 2 of the TSX Venture Exchange.


Some statements herein are forward-looking statements. These statements address future events and conditions and, as such, involve inherent risks and uncertainties. Actual results could be significantly different from those anticipated in the forward-looking statements, and therefore readers should not place undue reliance on the forward-looking statements.

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

Contact Information

  • NXA Inc.
    Robert Metcalfe
    Chief Executive Officer
    (416) 400-4457