Stellar Pacific Ventures Inc.
TSX VENTURE : SPX

Stellar Pacific Ventures Inc.

June 17, 2010 10:47 ET

Stellar Announces Results From the Balandougou (Guinea) Project and Plans a 5000 m Drilling Program

MONTREAL, QUEBEC--(Marketwire - June 17, 2010) - Stellar Pacific Ventures Inc. (TSX VENTURE:SPX) ("Stellar" or the "Company") is pleased to announce positive results from a detailed soil geochemistry survey over a 65 km2 area of the Solotomo artisanal digging site of the Balandougou Project. The results confirm the presence of three major extensive gold anomalies within the survey area. Trenching and channel sampling of the more promising zones are ongoing and a 5,000 m RC drilling program is scheduled to test for possible extensions.

The first priority is a strong gold anomaly outlined just 2 km east of the Solotomo artisanal digging site. The anomaly is interpreted as the intersection of two structures, trending NE-SW and NW-SE, respectively. Both these structures show a strong gold signature with numerous values grading over 1.0 g Au/t in soil samples.

The NE-SW anomaly is over 1.5 km long and up to 900 m wide. This anomaly is remarkably consistent and, on most lines, shows wide sections with consecutive high grades ranging from 0.2 g Au/t to as much as 76 g Au/t in soil samples. Many values are over 1.0 g Au/t, which is uncommon for this type of survey. The NW-SE anomaly is over 1.0 km long and up to 500 m wide and also shows a strong gold signature with numerous consecutive values over 1 g Au/t.

Initial prospecting and evaluation of this area by the Company has already confirmed the presence of outcropping metric size gold mineralized quartz veins and stockworks of sub-horizontal mm- to cm-wide quartz veinlets hosted in a sericite schist which yielded economic grades of 34.2, 5.21, 1.36, 1.32, 1.09 g Au/t from the ST and CQ sets of trenches dug in that area in 1999 by Hereford Securities. In 2007, Goldenfrank Resources also reported a substantial intersection with 12.4 g Au/T over 4.0 m in a channel sample in the CQ-4 trench, collected during assessment of the property. (Evaluation of the Auriferous Potential of the Balandougou Property, Préfecture of Siguiri, Guinea, West Africa. Ni 43-101 Technical Report, Revision May 2008, by Pierre Trudel, Ph.D., P. Eng., Geological Engineer).

The second priority is an anomaly that shows a possible 600 m S-SW extension along strike of the Solotomo artisanal pits. Local diggers are still periodically active on the Solotomo site and informally recorded a yield of 15 tons of gold (450,000 ounces) since 2006 from a 250 m X 25 m, 30 m deep open pit and underground works.

An initial 1,597 m RC drilling program by Goldenfrank Resources on the Solotomo artisanal site in May 2009 has confirmed the vertical and southeast extensions of the mineralized structure.

In his report, Dr. Trudel described the geology of the Solotomo digging site as a stockwork of quartz veinlets with various trends. Direct observation of the pit walls suggested that the dominant network consists of sub-horizontal veinlets, and thicker quartz veins (up to 1 m wide) are present in the source rock. One of these veins, mined at the time of the mission, has a N-S strike with a sub-vertical dip. A grab sample of that vein showing specks of visible gold returned a grade of 33.9 g Au/t. This description is consistent with that of structures observed in the various trenches in the area of the gold anomalies to the east.

The third priority is a 600 m long anomaly which probably extends out of the survey area and 2.5 km northeast and along strike of the first priority anomaly.

Over the 65 km2 survey area, some 6,500 soil samples were collected at 50 m intervals along lines 200 m apart. Soil samples were collected and prepared at the Ultragold Holding facilities in Norassoba, and 500 g aliquots were sent to the SGS Laboratory in Siguiri, with adequate quality control. All batches showing unacceptable gaps were re-analyzed to the Company's satisfaction. The analytical method used by SGS was accelerated cyanide leaching (BLEG61K).

Eight trenches totalling over 500 m dug in the main zones of the first priority anomaly are currently being restored and channel sampled by Company geologists for surface assessment. To date, large metric-size quartz veins were intersected in the trenches, and sampling results are expected shortly.

A 5,000 m drill program is scheduled to follow in order to test the most promising anomalies for lateral and vertical extensions.

Maurice Giroux, President and CEO and qualified person as per NI 43-101 regulations said: "I am pleased and impressed by the results of the soil survey. After 15 years of exploration in this particular area of West Africa and after having been involved in gold discoveries and mine development based on interpretation of numerous soil surveys, I had not yet seen such a strong and consistent anomaly. The size of the anomaly also indicates a potentially extensive and high-grade source area. I am anxious to drill this anomaly to confirm our expectations. Soil geochemistry is considered to be the best method for gold exploration in lateritic environments, and most large West African gold deposits were discovered with this method."

About Stellar Pacific Ventures

Stellar Pacific Ventures (TSX VENTURE:SPX) is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Canada and Africa.

Stellar is dedicated to creating growth by discovering and mining the earth's resources in an efficient and environmentally responsible manner.

The technical content of this press release has been reviewed and approved by Mr. Maurice Giroux, a qualified person as defined in NI 43-101 regulations.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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