Radisson Mining Resources Inc.

Radisson Mining Resources Inc.

January 18, 2008 08:22 ET

Radisson Mining Reports More High-Grade Gold Assays on the O'Brien, High Grade Nickel Copper Assays on its RM Nickel Project and Initial Moly Samples at La Reine

ROUYN-NORANDA, QUEBEC--(Marketwire - Jan. 18, 2008) - Radisson Mining Resources (TSX VENTURE:RDS) is pleased to report results from three projects, these being the O'Brien / Kewagama, the RM Nickel and the La Reine.

O'Brien / Kewagama Gold Project: As of January 13, 2008, 16 holes were completed (OB07-120 to OB07-134, OB08-135) for a total of 7,462 ft (2,274.5 m) in the 7,000 m. drill program on the Company's O'Brien / Kewagama properties located about one mile north of the town of Cadillac on Highway 117, approximately 35 miles east of Rouyn-Noranda, Quebec. Initial assay results of this drill program were announced in the Company's news release of December 20, 2007.

In lieu of an underground detailed drilling and bulk sampling program, the surface drill program is intended to define, between surface and the 500 ft level, the resource blocks of the veins identified in the 43-101 resources report on the 36 East Zone (Luke Evans, Scott Wilson RPA May 2007). The 36 East Zone is situated about 2,500 ft. east of the original producing zone of the O'Brien Mine. When the O'Brien Mine was in production it was the highest grade gold producing mine in the Cadillac Mining Break. As per the 43-101 report, Radisson Mining has intersected comparable high-grade gold ore in the 36 East Zone.

The 43-101 report estimated Indicated Resources on the 36 East Zone of 270,000 tons at an average uncut grade of 0.56 oz/ton and an average cut grade of 0.36 oz/ton, representing 97,200ounces of gold. The Inferred Resources are estimated at 182,000 tons at an average uncut grade of 0.37 per ton and an average cut grade of 0.29 oz/ton for a gold content of 53,700 ounces." The table below contains the most significant assay results received on the 16 holes out of approximately 45 holes to be drilled in this 7,000 m. drill program. The initial holes of this latest drill program intersected gold mineralization and confirm the high grade nature of the gold

A table is available at the following address: http://www.ccnmatthews.com/docs/radisson_eng.pdf

O'Brien / Kewagama Underground Program It is worth noting the nature of the 36 East Zone, as stated in the 43-101 report, i.e. "The main mineralized structures ("veins") are generally narrow, ranging in true thicknesses from a few inches to 22 ft., but have good continuity both horizontally and vertically". Dale M. Hendrick, P. Eng, Chairman of the Board and Technical Consultant to Radisson Mining stated, "Based on experience in the Abitibi Camp, the foregoing high-grade intercepts are most encouraging and call for an underground portal and ramp bulk sample." Such an underground program would permit close-spaced underground drill testing which is far superior to surface drilling.

Mr. Hendrick pointed out that Hole 120 contains a section from 177.8 to 245.0 feet, a length of 67.0 feet, which averaged 1,150 parts per billion ("ppb") of gold, this being approximately five times greater than a typical gold prospect threshold of 200 ppb. He also cited Hole 124 which intersected 2 high grade gold veins within such type of gold anomalous haloes.

In short, Mr. Hendrick stated the O'Brien Zone 36 East is highly anomalous and sits in an environment pregnant with gold mineralization. He concluded that the O'Brien / Kewagama project is one of few advanced gold mining projects in Canada.

RM Nickel / Copper Project: In a news release of December 13, 2007, Radisson Mining announced preliminary assay results for 12 drill holes of the Company's 16 hole drill program on its RM Nickel property. This property consists of 48 claims covering an area of 1,304.5 hectares located in Beauchastel Township, Quebec, 20 km west of Rouyn-Noranda, Quebec. At the time, Mr. Hendrick stated that the initial, high-grade, nickel copper holes for which assays had been received were "extremely positive".

As of January 10, 2008, all nickel and copper assays have been received. The average grade of the material from the 9 drill holes that were sent for metallurgical testing to the SGS Laboratory at Lakefield, Ontario was 2.88% nickel and 2.61% copper. The total weight of the samples for metallurgical testing was 226 kg. Platinum and palladium assays results have been received for 6 of these 9 holes and the average grades are respectively 0.94 g/t Pt (0.027 oz/t) and 4.26 g/t Pd (0.12 oz/t).

The diamond drilling program is part of a confirmatory due diligence study on the RM Nickel property being carried out through testing both high-grade and low-grade mineralization zones in an overall area of 125 feet north-south and 50 feet east-west.

In 1980, Falconbridge Copper estimated the resources of the RM Nickel deposit at 131,352 metric tons grading 0.46% Ni and 0.79% Cu. This calculation was based on the results of more than 100 holes drilled by the RM Nickel company in the late fifties.

In August 2000, a feasibility study carried out by Dasserat Resources Inc. indicated an open-pit mineable resource of 6,366 metric tons at 2.180% Ni, and 2.353% Cu, plus 1.310 g/t platinum and 3.571 g/t palladium. The foregoing are considered historical resources. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources. Accordingly, Radisson Mining is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon. The current work program is intended to establish valid current mineral resources.

Here is a map (http://www.ccnmatthews.com/docs/radisson_map_eng.pdf) of the RM Nickel project indicating the high-grade and lower-grade areas of exploration on our recent drill program.

La Reine Molybdenum / Gold Property:

The La Reine Molybdenum/Gold property is located 65 km. north of Rouyn-Noranda, Quebec. The first sampling program on this project was completed in October 2007. It's primary objective was to locate the old pits and trenches dug in the 1930's. A majority of the pits and trenches were found but were filled with overburden.

Nevertherless, encouraging molybdenum ("Mo") values have been encountered in both grab and chip samples from these old trenches and pits on the property. Of the 101 samples sent for assaying, 20 show Mo values higher than 0,01% Mo, eight of them vary from 0.13% to 0.23% Mo. Of these 20 samples, 15 come from quartz veins and 5 from the wallrock of quartz vein.

These results now justify more field work as soon as the snow melts in order to adequately plan the next exploration program on this project.

As stated in our news release of July 17, 2007, The La Reine Molybdenum-Gold Property consists of 27 mining claims covering approximately 1150 hectares. Based on a report by R. Sholto Douglas, A.R.S.M., B.Sc. to the Board of La Reine Gold Mines Limited, dated June 9, 1937, channel samples taken from 5 trenches on Vein 1 give an average grade of 4.07% Mo over a thickness of 0.76 meters and a known strike length of 183 meters. While these sample results are only surficial, it may be worthwhile to note that most molybdenum vein deposits in the world grade less than 0.5% Mo. In addition to molybdenum, drilling has returned up to 70.5 g/t Au over 0.30 m.

The La Reine Property is situated within a roughly northwest trending belt of Archean metamorphosed greenschist facies felsic and mafic volcanic rocks intruded by Archean ultramafic to granitic rocks. The property covers the northeast part of the La Reine granitic pluton as well as the adjacent volcanic rocks. Molybdenite occurs at surface in a number of highly mineralized east-west to northeast-southwest trending quartz veins that appear to be associated with the La Reine granitic pluton. Individual quartz veins are reported to be up to 50 meters long and up to 1.3 meters in width at surface. In 1937, the main vein was stripped and trenched for a distance of over 900 m. In addition to molybdenite, which is often massive to semi-massive, the veins are reported to contain galena, chalcopyrite, gold and small amounts of silver.

Exploration, including several short diamond drill holes, appears to have been concentrated in the immediate vicinity of two historic exploration shafts having a depth of 50 ft and 100 ft and located in a small area of outcrop in the centre of the property. A total of 185 ft. of drifting is reported to have been completed at the 100 ft. level and there are no reports of any production.

Values of up to 2.8% Mo and up to 70.5 g/t Au have been intercepted in quartz veins at various depths down to 90 meters by drilling. The most recent reported exploration work was conducted in 1980-1982 by Eastern Mines Ltd. This company performed a VLF-EM survey over an area of about 3 km2, one quarter of the area of the current property. The 1980 Eastern Mines report states "The survey outlined several fairly conductive zones, two of which are probably within the granite intrusive. The presence of molybdenite-gold bearing veins in the vicinity indicates that these conductors could represent gold-bearing shear zones." This was followed by a 7-hole diamond drilling program totalling 695 meters. Only a few of the VLF-EM anomalies were drill tested. Hole E-3 intercepted 1.05% Mo over 0.4 m in vein 1 and Hole E-6, drilled 175 m south of E-3, returned 1.66% Mo over 0.4 m in a quartz vein with massive molybdenite. These veins are open laterally and at depth.

The foregoing are considered historical resources. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources. Accordingly, Radisson Mining is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.

Most of the property is largely covered by glacial overburden and therefore remains relatively unexplored. There is very little bedrock exposure on the property so there is a good possibility that a modern exploration program, including deep penetrating electromagnetic surveys, will reveal additional mineralization. The known molybdenum grades on the property indicate underground mining can be considered provided sufficient tonnage is found. Radisson will explore the property with the idea that the La Reine pluton is present at depth below most of the property and that it has served as a source of fluids for the mineralization located in veins and other structures within the overlying metavolcanics as well as within the pluton.

Experts: Radisson's exploration programs are planned and supervised jointly by Dale M Hendrick, P.Eng., Chairman of the Board and Technical Consultant to Radisson Mining plus Raynald Vincent, P.Eng.(Quebec), Consultant and Qualified Person as per National Requirement 43-101 Policy.

ABOUT RADISSON MINING: Radisson Mining is a Quebec-based exploration company, with offices in Rouyn-Noranda, Quebec and Toronto, Ontario, specializing in the discovery of gold, molybdenum and base metal deposits. The Company has an interest in thirteen properties in northwestern Quebec and two properties in northwestern Ontario. The main asset of Radisson, the O'Brien / Kewagama property, contains the former O'Brien Mine, the highest grade and the most important gold producer in the Cadillac Mining Camp when it was producing from the early 1930s to the mid 1950s. Radisson now has established a new zone, the 36 East Zone, 2,500 ft. east of the old producing zone of the O'Brien Mine, with comparable high grades of gold. The Company is carrying on an advanced exploration program on this property. In the 43-101 report, Scott Wilson RPA opined, "there is excellent potential to increase the Zone 36 East resources above the 2,000 Level and to discover new resources further at depth and along strike further to the east". Radisson also is developing a high-grade nickel/copper project at its RM Nickel property and is embarked on an encouraging exploration program at its La Reine molybdenum/gold property, in each case in northwestern Quebec.

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

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