Radisson Mining Resources Inc.
TSX VENTURE : RDS

Radisson Mining Resources Inc.

November 10, 2009 08:00 ET

Radisson Mining Announces Expanded Gold Potential on the Cadillac Zone of Its Kewagama Property

ROUYN-NORANDA, QUEBEC--(Marketwire - Nov. 10, 2009) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) ("Radisson" or the "Company") announced today that its consulting geologist, Derek McBride, Ph.D (Geology), has completed a preliminary assessment of the gold-bearing zone, the "Cadillac Zone", on the northern part of the Company's Kewagama property. The Kewagama property is located immediately east of Radisson's O'Brien Mine property in Quebec's Abitibi Greenstone Belt, one of the most prolific mining areas in Canada. (SEE: NI 43-101 Report prepared by Scott Wilson RPA, dated May 9, 2007, on the 36 East Zone of the O'Brien property at www.radissonmining.com). The mineralized Cadillac Zone on the Kewagama property lies 100 to 200 feet north of the Larder Lake-Cadillac Fault Zone (hereinafter referred to as "LLCFZ") in the Cadillac Formation sedimentary rocks. All historical mining and resource estimates, in the NI 43-101 Report on the 36 East Zone of the O'Brien property, are located in the Piche Group.

36 East Zone: Between the early 1930s and the mid 1950s, the O'Brien Mine produced 1,302,000 tons grading 0.448 ounces of gold per ton and was the highest grade gold producer along the Cadillac Break. The 36 East Zone on which Radisson has encountered comparable high grade gold resources is found about 2500 feet east of the original mine on the O'Brien property. The Scott Wilson RPA 43-101 Report of May 2007 gave estimated resources on the 36 East Zone of 218,540 ounces of gold, located above the 2,000 foot level, based on Indicated Resources of 270,000 tons with an uncut grade of 0.56 ounces of gold per ton (cut grade of 0.36 opt) plus Inferred Resources of 182,000 tons with an uncut grade of 0.37 ounces of gold per ton (cut grade of 0.29 opt). This 43-101 report also opined there is excellent potential to increase the Zone 36 East resources above the 2,000 foot level and to discover new resources further at depth and along strike further to the east. The latest report of Dr. McBride would seem to confirm this latter projection.

Cadillac Zone: Recent drilling has identified a zone of continuous gold mineralization in the Cadillac Zone, which lies north of the LLCFZ in the northern part of the Kewagama property. Gold mineralization has been drill intersected as an east-west stratabound linear feature over a strike length of 2600 feet from drill section 4400E to 7000E (Figure 1) within the upper part of the Cadillac sedimentary formation near the footwall contact of overlying Piche volcanics. Gold mineralization also has been reported in outcrop some 4000 feet west of this survey. Dr. McBride's conclusions are based on all sections 4400E to 7000E which are spaced on 200 foot intervals except for 5600E (Figure 1). Gold values of more than 5 grams over the core length of one metre occur on all but three sections; two of which have no data. Most holes intersect the Cadillac Zone above the 800 foot level and the three below indicate the zone continues at depth with values between 13.7 and 19.9 grams over 0.3 to 0.5 metres. Along strike, values go from 11.5 grams over 2.0 metres on Section 4400E to 7.2 grams over 2.0 metres on Section 7000E. The values between sections 4800E and 5400E define an area 600 feet long and 800 feet high with continuous intersections (Table 1). An inferred resource has been calculated which includes all values greater than 5 grams and a mining width of 1.2 metres. The resulting resource is 80,500 tonnes at 10.1 grams per tonne or 88,600 tons grading 0.30 opt. Dr. McBride considers this a preliminary estimate and equivalent to an inferred resource under the CIM guidelines. Two additional gold-bearing shoots are found west of section 4800E and from section 6400E and east (Figure 1). All gold-bearing shoots are open and very little drilling has been carried out between them or along strike.



TABLE 1:MINERALIZED INTERSECTIONS CENTRAL SHOOT

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Section Hole No. Core Length Gold Assay
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metres grams
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4800E KW-06-14 0.91 5.4
KW-06-16 0.61 5.1
5000E KW-06-12 0.12 55.47
KW-06-15 1.16 10.29
5200E KW-06-17 1.0 86.4
2120-S20 1.0 17.5
2120-S26 1.0 18.96
KW-06-12 1.0 12.96
KW-08-155A 0.3 35.14
2120-S28 1.0 86.4
5400E KW-06-13 0.98 10.63
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Proposed Drill Program : While drilling has identified three zones of gold-bearing mineralization, it did not attempt to define the limits or continuity of the Cadillac Zone. A recommended new drill program will test the down dip continuity of the three zones with 6 holes totalling 10,500 feet or 3,200 metres. Additional 400 foot step outs are included to probe the continuity of the zone along strike east and west. Each step-out requires 4,400 feet or 1,340 metres of drilling. Total of the proposed drilling program is 7,000 metres. A budget of $1,000,000 is proposed to finance this program (Table 2).



TABLE 2 : PROPOSED DRILLING PROGRAM

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Item Unit Cost Cost
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Preliminary Phase
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Checking previous drilling $2,000.00
Exploration and Confirmation Drilling 7000m $100 $700,000.00
Management field program 100 days $750 $75,000.00
Core re-evaluation $600 $10,000.00
Assistant Geologist and labour 100 days $500 $50,000.00
Assaying 1500 samples $30 $45,000.00
Vehicle $1000 $3,000.00
Support 3 months or 100 days $200 $20,000.00
Data reinterpretation 1 month $750 $20,000.00
Contingency 7.5% $75,000.00
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TOTAL $1,000,000.00
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To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/RDS_Figure1.jpg

Estimation Method: Dr. Derek McBride, P.Eng. is the Qualified Person with regard to the Inferred resource calculation herein. The criteria for this calculation by Dr. McBride call for a cut-off grade of 5 grams over 1 meter core length. The core length is reduced to 70% for horizontal width estimate, diluted at zero grade to 1.2 meters mining width. Each hole has an influence in a square pattern halfway to the next hole or a maximum of 100 feet. All blocks are contiguous.

About Radisson Mining: Radisson is a Quebec-based exploration company, with an office in Toronto, Ontario, specializing in the discovery of gold, molybdenum and base metals, with an interest in seven properties in northwestern Quebec and one property in northwestern Ontario. The main asset of Radisson, the O'Brien - Kewagama Properties comprise 617.48 hectares in the western part of Cadillac Township, Quebec in the heart of the Abitibi Gold belt. These Properties contain the former O'Brien Mine, the highest grade and the most important gold producer in the Cadillac Mining Camp in Quebec when it was producing from the early 1930s to the mid 1950s. Radisson now has established a new zone, the 36 East Zone, 2500' east of the old producing zone of the O'Brien Mine, with comparable high grades of gold. The Company completed a successful drill program in 2008 on the O'Brien Mine property and the contiguous Kewagama Mine Property and now intends to undertake an underground bulk sample program on the 36 East Zone of the O'Brien Mine Property and a surface drilling program on the Cadillac Zone, subject, in each case, to arranging the required financing for each program.

A second major gold project of Radisson is the Massicotte claims group described in the Company's news release of September 2, 2009 available on the Company's website.

Several mining companies are producing gold or have established gold reserves in the Cadillac Break in the same area of northwestern Quebec as Radisson's O'Brien and Kewagama properties. These companies include Agnico-Eagle Mines Limited, Alexis Minerals Corporation, Aurizon Mines Limited, Globex Mining Enterprises Inc., Iamgold Corporation, Northern Star Mining Corp. and Osisko Mining Corp.

Future Exploration Programs: With the relentless decline in the U.S. dollar, the price of gold as denominated in that currency is expected to continue its rise. Radisson is well-situated to benefit from this trend. As stated above, the Company completed a successful drill program in 2008 on the O'Brien Mine property and the contiguous Kewagama Mine Property and now intends to undertake an underground bulk sample program on the 36 East Zone of the O'Brien Mine Property and a surface drilling program on the Cadillac Zone on the Kewagama property, subject, in each case, to arranging the required financing for each program.

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

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