Playfair Mining Ltd.
TSX VENTURE : PLY

Playfair Mining Ltd.

June 04, 2007 08:00 ET

Playfair Mining Ltd.: Geotechnical Assessment of Grey River Adit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 4, 2007) - Playfair Mining (TSX VENTURE:PLY) has retained Golder Associates to complete a Geotechnical Assessment of the adit at Playfair's wholly-owned Grey River tungsten project.

The purpose of this assessment is to ascertain what ground support will be required to permit re-entry for the purposes of recovering a 5-tonne mineralized rock sample for the metallurgical testing. Available rock quality information will also be reviewed to develop a preliminary understanding of the geotechnical considerations in order to support the selection of a potential mining method and longer term ground support requirements.

Don Moore, CEO of Playfair, states, "We continue to advance the Grey River project towards production and the retention of Golder Associates to provide a Geotechnical Assessment of the adit is an important step during this process. We want to surround ourselves with the best technical team possible as we move Grey River forward and to this extent, we believe that retaining Golder is an excellent move for Playfair. We have a lot of exciting things happening in Grey River and look forward to a very busy summer."

Golder Associates Limited is a global group specializing in ground engineering and environmental services. Golder employs over 5,500 people who operate from more than 130 offices across Africa, Asia, Australia, Europe, North America and South America and has experienced steady growth in the number of people employed and its technical capabilities. Golder's comprehensive range of geotechnical services is combined with expertise in resource modelling, mining engineering, waste management and environmental engineering to provide integrated mining solutions for open pit and underground mines. Employee-owned since their formation in 1960, Golder has created a unique culture with pride in ownership, resulting in long-term organizational stability.

About Playfair Mining Ltd.

Playfair Mining owns four high-grade and advanced stage tungsten deposits(i) in Canada. The historic resource calculations on these deposits pre-date NI 43-101 and are therefore non-compliant resource calculations; Grey River (Newfoundland) which has 10 million historical pounds of contained tungsten (473,000 tonnes of 0.97% W03), Risby (Yukon) which has 48.2 million historical pounds of contained tungsten (2,700,000 tonnes of 0.81% W03), Lened (NWT) which has 18.5 million historical pounds of contained tungsten (737,000 tonnes of 1.14% W03), and Clea (NWT) which has 5.3 million historical pounds of contained tungsten (257,000 tonnes of 0.93% W03). In addition to these high-grade and advanced stage tungsten projects, Playfair also owns a highly prospective exploration property, Granite Lake.

Playfair's Canadian Tungsten Deposits



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Property Tonnes % WO3 Pounds MTU's Company
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Grey River 473,000 0.97 10,108,091 458,500 ASARCO 1970
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Risby 2,700,000 0.81 48,214,602 2,187,000 HBED 1982
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Lened 737,000 1.14 18,523,049 840,200 Union Carbide 1986
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Clea 257,000 0.93 5,268,994 239,000 Placer Dome 1980
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(i)Estimates of tungsten resources are historical in nature, predate and are noncompliant with NI 43-101. Playfair is not treating the historical estimates as current mineral resources or reserves. Playfair has not undertaken any independent investigation of the resource estimates nor has it independently analyzed the results of the previous exploration work in order to verify the resources, and therefore the historical estimates should not be relied upon. However, Playfair believes that these historical estimates provide a conceptual indication of the potential of the occurrences and are relevant to ongoing exploration.

About Tungsten

Tungsten is an extremely hard, heavy, steel-grey to white metal that is remarkable for its robust physical properties and vast uses and cannot be substituted in many industrial applications. Tungsten has the highest melting point of all metallic elements. Tungsten is a strategic metal and emerging economies such as India and China are consuming increasing amounts of tungsten. Until 2005, China was the world's largest exporter of tungsten concentrate but rapid industrialization within China, structural economic changes, and changes in economic policies towards industry have resulted in the restriction of tungsten exports from China. China is now the world's largest consumer of tungsten. Escalating Chinese consumption, in conjunction with the ongoing demand in the world's principal economies along with the supply issues noted above, has resulted in increases in the price of tungsten. Tungsten prices are quoted per Metric Ton Unit of contained tungsten trioxide (WO3). One MTU contains 10 kilograms of WO3 and is the standard weight measure of the tungsten trade. Ammonium Paratungstate ("APT") is an intermediate product in the production of tungsten metal for which prices are available. A price of US $260 per MTU equates to US $26 per Kilogram or US $12 per pound.

Mr. Michael Moore, P. Geo, is the qualified person who has reviewed the technical information contained in this release on behalf of Playfair.

ON BEHALF OF THE BOARD

D. Neil Briggs, President and Director

No Stock Exchange has Approved or Disapproved the Information Contained Herein. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Playfair Mining Ltd.
    D. Neil Briggs
    President and Director
    (604) 687-7178 or Toll Free: 1-888-244-6644
    (604) 687-7179 (FAX)
    Website: www.playfairmining.com