Stina Resources Ltd.
TSX VENTURE : SQA

April 06, 2010 09:30 ET

Stina Announces 2010 Work Programs for Gold and Vanadium Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 6, 2010) - Stina Resources Ltd. (the "Company" or "Stina") (TSX VENTURE:SQA) is pleased to outline its exploration plans for the spring and summer of 2010 on its Dime and Kodiak Gold properties in the Yukon Territory, as well as its Bisoni McKay Vanadium property in Nevada. A budget of $800,000 has been allocated to the Dime and Kodiak, and approximately $500,000 to the Bisoni McKay. Preparations for these programs are underway including geological evaluation of progress and results to date, establishment of sampling and drilling targets, and securing geological field staff and equipment. 2010 expects to be a very ambitious exploration period for the Company.

Dime Gold Property - Yukon

The Company plans to expand the present southwest grid soil sampled in late 2009, directed towards refining and drilling a target. The 2009 soil sample program included 191 soil samples collected on a grid covering about 37 hectares. The gold values in the survey were as high as 6,082 ppb, or six ppm along a mineralized trend on the bottom claims of the property. The Company is currently discussing possible joint exploration over the target with Solomon Resources, who hold the adjacent property claims.

The Company intends to initiate a 100 to 140 day trenching program in May, then a 3,000 soil sample program and a magnetic survey in June. The Company also intends to drill up to five 100 metre diamond drill holes on the southwest target in June. The estimated budget for the 2010 Dime program is $600,000. The Dime property was staked in 2009 by Shawn Ryan.

Kodiak Gold Property - Yukon

In the fall of 2009 a total of 1,925 soil samples were collected on a grid covering 875 hectares, or about 28 per cent of the Kodiak claim block. This anomalous area is 2,000 metres long and from 100 metres to 750 metres wide, consisting of two anomalous gold trends and scattered anomalous outlayers. Within this area, a cluster of higher gold grades range from 14 ppb to 99 ppb with arsenic from 40 to 676 parts per million and antimony from one part per million to 6.9 ppm. Another cluster of samples located just outside of the elevated gold area carries gold values ranging from 140 ppb to 308 ppb. This anomaly is unique in that there are no elevated arsenic values. Each of these higher-grade clusters covers an area of 250 by 250 metres. The Kodiak property ties on to the Underworld White Gold Property, and was staked by Shawn Ryan.

The Company plans to expand the western side of the 2009 soil sample grid with an additional 3,000 soil samples and approximately 10 days of trenching, attempting to refine a drilling target. Trenching could be initiated in late May, with soil sampling and evaluation to follow in June and July. The estimated budget for the 2010 Kodiak program is $197,500.

Bisoni McKay Vanadium Property - Nevada

In 2008, Maptek of Golden, CO produced an NI 43-101 compliant Resource Estimate on an 800 feet X 500 foot subsection of Northern Section A. Maptek Resource data showed 10.6M indicated short tons of vanadium pentoxide at 0.39% at a 0.2% cutoff grade, and an additional 9M inferred short tons of vanadium pentoxide at a 0.2% cutoff grade on a 600 X 500 foot subsection. In 2007 Hazen Research conducted preliminary recovery tests on Bisoni McKay material, with the best results from the Acid Pugging Leach test on oxidized material, which showed up to a 95% extraction of V2O5. To date the Company has drilled 24 reverse circulation holes and 5 core holes on the Bisoni McKay property.

The Company intends to refine and complete the Phase II program initiated in 2007. The Company proposes drilling an additional 18 reverse circulation holes for a total of 7,000 feet and 8 core holes for a total of 4,000 feet. This Northern Section B drilling would continue directly south of core fence BMK - 01, 02 and 03 drilled in 2005 in 100 foot stepouts, with additional fences. The result would be an expanded drill area of approximately 1,500 feet in length by 100 to 200 feet in width, on which the 2008 resource estimate could be updated.

The Company also intends to further metallurgical testing on oxidized, transition and carbonaceous material from Northern Section A at Hazen Research. A scoping study is being considered, and the Company intends to discuss the possibility of an initial pilot plant with the Nevada Bureau of Land Management. Drilling could commence in May, and metallurgical testing and resource updates could be made in the fall of 2010. The estimated budget for the 2010 Bisoni McKay Program is between $500,000 and $750,000.

Zeibright Gold Property - California

The Company has suboptioned this former producing gold property to Trimax Corporation. The option calls for Trimax to acquire a 70% interest from Stina's 100% interest by spending $2 million in work on the property over 4 years. Stina retains the right to buy back 20% of the interest for $500,000 at completion of the option. Stina is monitoring Trimax's plans, which include continuing with Stina's original plan of electromagnetic and geophysical studies, and possibly drilling on top of the structure, attempting to interpolate mineralized vein continuity between the two adit tunnels.

2010 expects to be an exciting year for the Company and its shareholders, with strong in-ground development to its properties, and a substantial increase to Company value, putting Stina in a strong position to negotiate with interested groups. As work programs prepare to commence, and as other developments arise, the Company will issue further news releases.

There has been insufficient exploration to define a Mineral Resource on the Dime, Kodiak, Bisoni McKay and Zeibright Properties, and it is uncertain as to whether, or not, further exploration will result in the discovery of a Mineral Resource on the property. Ed Ullmer, P.Geo. of Westminster, CO, is a designated Qualified Person for the Company and was responsible in part for the preparation, amendments and review of this news release.

On behalf of the Board of Directors,

Rod Sinn, President

Contact Information