Saturn Minerals Inc.

Saturn Minerals Inc.

May 17, 2006 09:00 ET

Saturn Minerals Acquires Base Metal Sulphide Properties and Applies for Drill Permits

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 17, 2006) - Saturn Minerals Inc. (the "Company") (TSX VENTURE:SMI) has acquired by staking a 100% interest in two properties through a non-arms length transaction with Murray McClaren, a director of the Company. The acquisition is subject to a 3% net smelter return royalty in favour of Mr. McClaren. The properties (the 1120 ha Maple Leaf and the 620 ha Rizz) are located in the Atlin Mining District, approximately 25 km northwest and 26 km northeast, respectively, from the Tulsequah Chief massive sulphide project being explored by Redcorp Resources and Canarc Resources' New Polaris gold project. The Maple Leaf and Rizz properties were discovered in 1990 by American Bullion Minerals Ltd.'s prospecting crews. American Bullion conducted trenching, geochemical and geophysical programs on the properties and selected several drill sites to test the mineralized zones. These sites were never drilled. Saturn has applied for work permits on both properties.

The Maple Leaf property contains massive suphide mineralization occurring in quartz-sericite altered host rock. The property covers 5 km of prospective geology for hosting base and precious metals. Three linear zones were identified by American Bullion; the 3100, 3300 and 3500 zones. The 3100 zone is 60 meters thick and consists of siliceous pyritic, felsic volcanics containing zones of massive sulphides associated with a siliceous unit. Large float blocks of banded sulphide grade up to 5.14 g/T gold, 129.6 g/T silver, 11.25% zinc, 8.22% lead and 0.153% copper. The zone has been traced for a distance of 500 meters, dips to the northwest and is exposed in a northwest trending "cliff area". Hundreds of large float blocks containing banded sulphides have been found in the 3100 zone, and systematic chip sampling of 18 blocks averaged 1.92 g/T gold, 115.2 g/T silver, 0.17% copper, 5.12% lead and 6.9% zinc. The 3300 zone consists of a 100 meter thick section of pyritic, felsic volcanics hosting a siliceous horizon of disseminated and laminated zinc-lead mineralization that has been traced over a strike length of 1 km. A 2.3 meter wide channel cut sample from the upper portion of the 3300 zone yielded assays of 0.41 g/T gold, 81.26 g/T silver, 0.225% copper, 4.67% lead and 6.27% zinc. A grab sample from the same zone assayed 0.76 g/T gold, 112.46 g/T silver, 0.226% copper, 6.16% lead and 7.68% zinc. The 3500 zone has been traced over a distance of 1 km and consists of low-grade banded zinc and lead mineralization in a siliceous horizon. Mineralized grab samples from talus assayed 6% combined lead-zinc. No geochemical or geophysical surveys have been conducted on this zone. The 3100 and 3300 zones are both overlain by a 400 meter long copper-lead-zinc soil anomaly with associated electromagnetic conductors. The Company intends to conduct a 2,000 m diamond drill program in 2006 to test target areas located by the American Bullion surveys.

The Rizz property was discovered in 1990 by American Bullion prospectors. Base metal sulphide mineralization containing significant gold, silver and zinc values occur within a 400 m long boulder train on an arm of the Tulsequah Glacier. The boulder train contains thousands of tons of mineralized, angular felsic volcanic blocks. Disseminated and stringer stockwork quartz-pyrite-sphalerite mineralization assayed up to 27.63 g/T gold, 425.26 g/T silver and 15.9% zinc. Chip samples from 12 mineralized felsic blocks averaged 3.72 g/T gold, 49.7 g/T silver and 4.1% zinc. The source of this mineralization has yet to be discovered but the moraine is located between two cliff faces that contain an east-west trending fault with an altered selvage. A talus sample of laminated white marble located in the northwest corner of the property hosts 1-20 cm thick layers of massive galena and sphalerite mineralization. A grab sample assayed 8.43 g/T gold, 560.92 g/T silver, 28.25% lead and 7.3% zinc. Exploration for the source of this material has not yet been conducted.

Technical data contained in this news release has been extracted from historical sources and there is no N.I. 43-101 compliant report on either of the properties. The Company has not yet performed the work necessary to confirm the data.

Murray McClaren, P. Geo., is the Qualified Person in charge of the project and he has reviewed the contents of this news release.

About Saturn Minerals Inc. Saturn Minerals Inc. (TSX VENTURE:SMI) is a junior exploration Company based in Western Canada. The Company's primary goal is to explore for Molybdenum, Gold, Copper and other Base metals. The Company is actively pursuing several opportunities, including the Company's Gem molybdenum Property, the Tidewater mollybdenum Property, and the Harrison Lake nickel-copper Property all located in British Columbia, Canada.

For additional information please contact Saturn Minerals Inc. or visit

On behalf of the Board of Directors

Saturn Minerals Inc.

Mike Elson, President

Forward-looking statements - statements included in this news release that are not historical facts may be considered "forward-looking statements". All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

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

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