New Nadina Explorations Limited

New Nadina Explorations Limited

November 17, 2009 10:00 ET

New Nadina Appoints New Jewitt Director With Silver Queen Update

GREENWOOD, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2009) - New Nadina Explorations Limited (TSX VENTURE:NNA) today is pleased to announce the appointment of John W. Jewitt P. Eng., to the Board of Directors.

Mr. Jewitt has served as an Officer and Director of several mining companies over the past 35 years; notably as President of The Granby Mining Company and Granisle Copper Limited, former BC copper producers. He also served as Manager of Engineering & Development for Chevron Resources Inc. in the U.S.A. (Stillwater Mining PGMs) and Chile (Andacollo gold) and as President of Chevron's mining subsidiaries in Australia (Mt Wilkinson gold), Canada (Golden Bear) and Ireland (Lisheen Zinc). He served as a Director and Vice President of Redfern Resources Ltd. while undergoing permitting and feasibility studies for the Tulsequah Chief massive sulphide deposit in northern BC, and as Vice President of Auspex Minerals managing feasibility studies for reopening the copper-lead-zinc-silver deposits at Aljustrel, Portugal.

Mr. Jewitt's experience with the operation and development of base and precious metal deposits in north-central BC and elsewhere will strengthen New Nadina's Board as the Company seeks to advance extensive holdings at its Silver Queen Property.

With his appointment to the Board, New Nadina has granted Mr. Jewitt incentive stock options to acquire 200,000 common shares at an exercise price of $0.10, expiring November 16, 2014. The appointment and grant of options are subject to acceptance by the TSXV.

The Owen Lake camp is a system of polymetallic veins, with the Silver Queen property located 43 km south of Houston B.C. on the Morice River forest service road to Huckleberry Mine. Within the property there are multiple vein systems identified with occurrences of high-grade zones containing gold, silver, lead and zinc as well as cadmium, gallium & germanium values. The veins are mineralogically zoned north to south and with depth. Their nature is complex and parallel veins are common. The resumption of exploration and development of the Silver Queen property will follow recommendations of the property structural study (Era-Maptec Ltd. 1998).

The strongest identified system is the #3 Vein where values, especially gold are increasingly higher to the south. Visible on surface for 1.2 km, this vein is open to the south and down dip providing untapped exploration potential. Underground development, during 1985-1988, encountered vein widths up to 14 feet wide and underground drilling confirmed higher values to the south. During the 1980's development period, various samples were run for gallium, germanium and cadmium. A recent review indicated inconsistencies in those results, initiating a program to resample. Just over 50 samples have been submitted for full suite ICP analyses. The results will provide data required to direct further exploration.

Prior to the program this fall, the most recent work conducted was in 2005 where a single drill hole tested a large IP anomaly (NR Mar 7, 2005 Stockwatch). A single 310 meter drill hole placed near the centre of the anomaly encountered disseminated pyrite throughout. This pyrite halo is visible on surface through windows in the glacial till. (SEDAR MD&A Dec 13, 2005 Silver Queen review). Once the sample results along with all known data are analyzed, a higher confidence level will be attained in placement of drill holes and the direction of further exploration.

The Company continues to explore for diamonds on its 57.49% owned Monument Property located on the south shore of Lac de Gras in the Northwest Territories and is preparing a program to drill test ice targets in April 2010. This property has 12 diamond-bearing kimberlites with the largest diamond recovered to date being 0.445 carats from the RIP kimberlite.

Jim Hutter, P.Geo. is a Qualified Person as defined by National Instrument 43-101, in charge of the Silver Queen project, and has reviewed the applicable content of this news release.

New Nadina trades on the TSX Venture Exchange, trading symbol NNA, with 37,809,828 shares issued to date.


Ellen Clements, President and Chief Executive Officer

Caution Regarding Forward-Looking Statements -- This news release may contain certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include unsuccessful exploration results, changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this Release.

Contact Information

  • New Nadina Explorations Limited
    Ellen Clements
    (800) 856-3966
    (250) 445 2259 (FAX)
    New Nadina Explorations Limited
    Larry Widmer
    (250) 878-5099
    New Nadina Explorations Limited
    Jack Barnes
    (778) 997-0996, TF: (866) 713-8008