Newstrike Resources Ltd.

Newstrike Resources Ltd.

September 25, 2007 09:00 ET

Newstrike Resources-Exploration Update

TORONTO, ONTARIO--(Marketwire - Sept. 25, 2007) - Newstrike Resources Ltd. (TSX VENTURE:NR) ("Newstrike") announces today that based upon the results of preliminary drilling conducted to date at the Cunningham property located in Holmes Township, Ontario, Newstrike has determined to terminate its option with respect to this property. Newstrike holds an option to acquire a 100% interest (subject to a 2% net smelter royalty and certain surface rights) in this property, by making aggregate cash payments of $385,000 and incurring aggregate exploration expenditures of $238,000 on the property, in tranches over a four year period, all pursuant to an option agreement dated November 1, 2006.

Forward Looking Statements:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

13,811,800 outstanding common shares

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

Contact Information

  • Newstrike Resources Ltd.
    Donald T. Rankin
    (416) 628-6556
    (416) 628-5911 (FAX)