Piper Capital Inc.
TSX VENTURE : PCL

Piper Capital Inc.
Garson Resources Ltd.
CNQ : GARR

Garson Resources Ltd.

January 23, 2007 08:00 ET

Piper Capital and Garson Resources Appoint Vice President, Exploration for New Britannia Gold Mine Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 23, 2007) - Piper Capital Inc. (TSX VENTURE:PCL) and Garson Resources Ltd. (CNQ:GARR) are pleased to announce the appointment of Jamie Lavigne MSc., P.Geo., as Vice President, Exploration for the New Britannia Joint Venture ("New Britannia JV"). Mr. Lavigne has 20 years experience in all phases of gold and base metal exploration across Canada, including GIS-based data compilation, geologic modeling and resource and reserve estimations. He has a BSc. (Geology) from Memorial University of Newfoundland and a MSc. (Geology) from University of Ottawa. Among his previous positions, Mr. Lavigne was a Senior Geologist with FNX Mining Company Inc. in Sudbury, a Senior Geologist with WMC International Ltd. and a geologist with the Geological Survey of Canada. He is a professional geologist (P.Geo.) licensed by the Professional Association of Engineers, Geologists and Geophysicists of the Northwest Territories (NAPEGG). Mr. Lavigne will assume his new position on a full time basis on April 15, 2007. Until this date he will be splitting his time between the New Britannia Joint Venture and a previous professional commitment.

Mr. Lavigne and his team will plan and implement the $3.5 million 2007 exploration program on the New Britannia Mine property located in Snow Lake, Manitoba. Initial plans call for detailed drilling of the existing inferred mineral resources at the 3 Zone, re-evaluation of the NI43-101 mineral resources underground in the New Britannia mine and exploration and drilling of the potential eastern extension of the mineralized Howe Sound fault elsewhere on the property. Objectives of the program include: confirming the known resources, upgrading Inferred resources to Measured or Indicated status, and expanding the resource base.

The New Britannia property covers approximately 3,900 hectares and hosts the historic New Britannia gold deposit, which operated from 1949 to 1958 and again from 1995 to 2004, producing approximately 1.43 million ounces of gold. A current NI 43-101 mineral resource estimate exists for the New Britannia Mine property, including 2.4 million tons of measured and indicated resources grading 0.15 ounces per ton gold (fully diluted) and another 1.2 million tons of inferred resources grading 0.15 ounces per ton gold. These resources contain a total of approximately 364,000 and 176,000 ounces of gold, respectively estimated at US$400 per ounce gold price. The resource estimates were completed by Micon International, in a report dated October 27, 2006 (See December 8, 2006 SEDAR Report). The 2,150 ton per day mill and surface facilities are currently on care and maintenance. The New Britannia Mine property is owned 100% (subject to a 1.38% NSR payable to a third party) by the New Britannia JV which consists of Piper Capital Inc. (60% interest and operator) and Garson Resources Ltd. (40% interest).

ON BEHALF OF THE BOARDS OF DIRECTORS

PIPER CAPITAL INC.

David G. Tafel, President and Director

GARSON RESOURCES LTD.

Edward Stringer, President and Director

Forward-Looking Statement

This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. In this news release, statements about exploration budgets and future expenditure are examples of forward-looking statements. There is no guarantee that any discovery of commercial mineralization will be made on the New Britannia property. Accordingly, readers should not place undue reliance on forward-looking statements. The statements made in this new release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companys' expectations and projections.

The TSX Venture Exchange and the CNQ Exchange have neither approved nor disapproved the contents of this press release.

Contact Information

  • PIPER CAPITAL INC.
    David G. Tafel
    President and Director
    (604) 683-1991 or Toll Free: 1-877-399-1991
    Website: www.pipercapitalinc.com
    or
    GARSON RESOURCES LTD.
    Edward Stringer
    President and Director
    (604) 683-1991 or Toll Free: 1-877-399-1991
    (604) 683-8544 (FAX)
    Website: www.garsonresources.com