Rupert Resources Ltd.

Rupert Resources Ltd.

January 17, 2007 16:05 ET

Rupert to Start Second Mother Hole in Red Lake

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 17, 2007) - Rupert Resources (TSX VENTURE:RUP) is pleased to announce that the company will shortly commence the drilling of a second hole from surface (a new mother hole) on its wholly-owned Gold Centre property in Red Lake, Ontario. The location of this second hole from surface was determined after an analysis of encouraging geological data derived from Rupert's previous drilling. The target depth of this second mother hole is 2,800 metres with a target completion time to depth of approximately four months.

The first hole that Rupert drilled from surface during this exploration program was completed in April 2005 and the company subsequently completed four daughter holes that used the original hole from surface as a platform. Geological data from these daughter holes became increasingly encouraging as they progressed sequentially.

The fourth daughter hole (RUP-04-01N) intersected a 352 metre section of Balmer Volcanics between 2635m - 2987m. While no gold values of economic significance were received from assays of this intersection, the results are geologically significant as more than 90% of all the gold produced in the Red Lake District has come from deposits in the Balmer Assemblage close to contacts between the Confederation and Bruce Channel Assemblages. Rupert has been intersecting increasing sections of the type of rock that the company is targeting (Balmer Volcanics) as the drill program evolves. Illustrating this is the fact that Daughter Hole #1 finished in rock derived from the Balmer Volcanics, Daughter Hole #2 ended in 20 metres of Balmer Volcanics, and Daughter Hole #3 encountered 135 metres of Balmer Volcanics. The fact that Daughter Hole #4 has encountered a 352 metre section of the target rock-type is representative of the company's growing understanding of the geology on this property.

Neil Briggs, Rupert's President, explains, "We are very pleased that we have been successful in intersecting increasing sections of the rock type that the program is targeting. We are starting Mother Hole #2 to the south west of Mother Hole #1 to reflect our enhanced understanding of where the target structure may be found."

Rupert is well funded, with approximately $4 million in treasury and owns a 100% interest in a key property in the Red Lake District located on the major structure that controls the main gold production and the Campbell and Goldcorp Red Lake mines.

Mr. Richard Kowalski, P.Geo is the qualified person who is supervising the drill program and has reviewed the technical information contained in this news release on behalf of the Company.

Rupert owns 100% interest in a key property in the Red Lake District located on the major structure that controls the main gold production at the Goldcorp-Red Lake and Campbell complexes.

D. N. Briggs, President and Director

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

Contact Information

  • Rupert Resources Ltd.
    D. N. Briggs
    President and Director
    (604) 687-7178 or Toll Free: 1-800-665-0622
    (604) 687-7179 (FAX)