Stealth Minerals Limited

Stealth Minerals Limited

October 17, 2005 09:30 ET

Stealth Minerals Limited: North Vein at Sickle Creek Produces High-Grade Gold

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 17, 2005) - Stealth Minerals Limited (TSX VENTURE:SML) -

In 2003, a single prospecting sample from subcrop in Quartz Creek about 1,600 metres northeast of Quartz Lake assayed 3.3 grams gold per tonne. This area was included in the geochemical survey conducted by Stealth Minerals in 2004, which revealed several areas that are anomalous for gold-in-soils. Follow-up prospecting in 2005 discovered gold values in outcrop of up to 25.8 grams per tonne in fine-grained quartz vein material.

A total of nine prospecting style samples were taken along the exposed 250 metres of outcrop and subcrop of the vein. Gold values ranged from 1.08 to 25.8 grams per tonne gold and averaged 10.46 grams per tonne. Silver values ranged from 7 to 253 grams per tonne and averaged 138.8 grams per tonne. The highest grade prospectors chip sample assayed 25.8 grams gold and 234 grams silver per tonne over 0.70 metres.

The North Vein trends to the northwest, dips steeply to the northeast and is hosted in Toodoggone volcanic rocks. The style of mineralization is low-sulphidation with fine-sugary quartz with traces of grey sulphide. Some portions of the vein exhibit chalcedonic silica stockwork with values in a 30 centimetre chip sample of 12.9 grams gold and 253 grams silver per tonne. The area has extensive areas of talus and hand trenching will be required to establish the true thickness of the vein but it is believed to be up to 3 metres thick. Surface geochemistry suggests the vein has potential to occur to the north and south for a considerable strike length. The North Vein is part of a northwest trending mineralized system that extends 2,500 metres to the north of Alexandra.

The Company's geological model of the Sickle Creek-Sofia area suggests that the North Vein is roughly 150 metres lower in the mineral system than the Quartz Lake veins but the North Vein has significantly higher gold values, which implies that deeper drilling on the 14 metre thick Quartz Lake veins is warranted.

The Sickle Creek-Sofia area is believed to be highly prospective for epithermal gold and silver and porphyry copper-gold deposit discovery. The epithermal systems are telescoped above Jurassic aged mineralized porphyry intrusions and occur on the eastern flank of Sickle Creek. The newly recognized intrusive rocks underlie a very large area that stretches from north of Sofia to Pine North, a Cascadero Copper prospect, a distance of 22 kilometres.

The Company expects to conduct multiple drill programs on several prospects in this area in 2006. The property is 100% owned by Stealth Minerals and is subject to a net smelter return royalty in favour of Electrum Resource Corp.

Assaying was conducted by Eco-Tech Labs of Kamloops, BC. Assays are 30 gram fire assays with 28-element ICP. Field work was under the direction of by Dave Kuran, P. Geo., who also compiled and interpreted the data and who is the qualified person for the Company.


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