Shane Resources Ltd.
TSX VENTURE : SEI

Shane Resources Ltd.

January 08, 2008 12:10 ET

Shane Resources Ltd. Announces 2008 Exploration Program

SASKATOON, SASKATCHEWAN--(Marketwire - Jan. 8, 2008) - Shane Resources Ltd. (TSX VENTURE:SEI). The Company is pleased to announce exploration programs for 2008.

Diamond drilling of the Brownell Lake property is planned for February and March. Previous work has outlined an extensive zone of copper-zinc mineralization. The geological setting of this mineralization suggests a volcanic-associated massive sulfide environment.

Shane Resources Ltd. (TSX VENTURE:SEI) land position in the Fort a La Corne diamond play was increased in late 2007 and plans are to carry out a limited overburden till sampling program with the objective of locating previously undiscovered kimberlite pipes.

Shane Resources Ltd. (TSX VENTURE:SEI) has two properties in the Laonil Lake area in close proximity to the Seabee Mine owned by Claude Resources. Since going into production in 1991, the Seabee mine has produced over 775,000 oz of gold.

Prospecting, along with ground geophysics are planned on the Monroe Lake Joint Venture (WesCan Goldfields 51%, Shane Resources 49%) where WesCan Goldfields is the operator.

The Don's Lake (Pine East) joint venture (Claude Resources 75%, Shane Resources Ltd. 25%) lies 5 km east of the Seabee mine. Drill programs to the end of 2006 revealed mineralization in moderately steep west plunging shoots hosting intercepts of 23.88 grams per tonne over 3.74 metres and 12.16 grams per tonne over 8.43 metres. Plans have been made for a 6 hole drill program totaling 1500 metres during 2008. Claude Resources is the operator of the project.

ON BEHALF OF THE BOARD

Eric Wray, President

The TSX Venture Exchange Does Not Accept Responsibility For The Adequacy or Accuracy of This News Release.

Contact Information

  • Shane Resources Ltd.
    Eric Wray
    President
    (306) 664-3828