Planet Exploration Inc.
TSX VENTURE : PXI

Planet Exploration Inc.

January 30, 2007 09:00 ET

Planet Exploration Inc.: Sidace Lake Drilling Update

CALGARY, ALBERTA--(CCNMatthews - Jan. 30, 2007) - Planet Exploration Inc. (TSX VENTURE:PXI) is pleased to announce results from drilling in the ongoing Sidace Lake program. Operations are being conducted under the Joint Venture with Goldcorp Inc.. All holes drilled in this latest program which ended in early January, 2007, targeted the Main Discovery Zone. Significant results from the last unreported holes in this program are:



HOLE from to Interval Au g/t
m m M
RL06-136 553.00 576.00 23.00 2.49
608.00 644.00 36.00 2.63
includes 629.00 630.00 1.00 8.54
630.00 631.00 1.00 6.76
640.00 641.00 1.00 7.23
691.00 692.00 1.00 83.15
727.00 745.00 18.00 1.65
includes 731.00 732.00 1.00 16.40
RL06-136A 541.00 560.00 19.00 2.19
includes 543.00 544.00 1.00 7.34
575.00 586.00 11.00 3.19
includes 582.00 583.00 1.00 17.19
RL06-137 1067.00 1077.00 10.00 2.89
includes 1068.00 1069.00 1.00 8.31
1069.00 1070.00 1.00 11.46
1151.00 1152.00 1.00 4.44
1171.00 1172.00 1.00 4.92
RL06-137B 1009.00 1010.00 1.00 3.54
1017.00 1021.00 4.00 2.31
1109.00 1112.00 3.00 2.17
1121.00 1123.00 2.00 2.25
1129.00 1134.00 5.00 2.04


Of particular note are the 8.31g/t and 11.46g/t values in RL06-137, which are from almost 1000m vertical depth from surface, and some 300m beneath the next deepest hole. Although the two successfully completed branches of the hole passed to the south of the heart of the zone, they still demonstrate that the zone persists at considerable depth, with significant gold values. This gives us continuing encouragement, and a further 6,000m drill program on the MDZ is planned for late spring to early summer 2007.

The Upper Duck Zone (UDZ), a 2-4m thick ironstone feature, which is over a kilometre west of the MDZ, has been followed for several hundred metres along strike. In the heart of this, 8 holes drilled in 2004 and 2005 returned good values over some 300m of open-ended strike. A program of 1,200m will commence on this zone in mid February, aiming initially at probing this core area at rather deeper levels than hitherto.

Planet is a well-funded junior mineral exploration company.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. We assume no responsibility for the accuracy and completeness of these statements and are under no duty to update any of the forward-looking statements contained herein to conform these statements to actual results. This is not an offer to sell or a solicitation of an offer to purchase any securities.

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