SOURCE: Supatcha Resources Inc.

April 05, 2010 16:00 ET

Supatcha Resources Signs Definitive Agreement and Acquires Major Ukrainian Gold Properties

DENVER, CO--(Marketwire - April 5, 2010) -  Supatcha Resources Inc. (OTCBB: SAEI) ("Supatcha" or the "Company") announces today it has signed a definitive agreement to acquire a 90% interest in the Barlevskoye and Vynohradiv Gold licenses in Southwestern Ukraine from arm's length third parties. Supatcha will pay $7,500,000 and will issue 500,000 common shares, in consideration for 90% of the issued and outstanding shares of Poltavas Capital Management Ltd., a BVI Company, which on closing will own all of the outstanding shares of Zolotivorota ("Golden Gate"), a Ukraine company which holds the rights to the properties by way of two Special Permissions issued by the Ministry of Environmental Protection.

The highly prospective Barlevskoye and Vynohradiv licenses are located in the southwest Ukraine some 8 kilometers east of the Hungarian border near the town of Mochola. The two licenses are underlain by Neogene age volcanics in what is believed to be a series of nested calderas. The mineralization at the property is epithermal style gold, silver, lead and zinc (Au-Ag-Pb-Zn). Total area covered by the properties is 11.667 km2.

The licenses are adjacent to the Berehiskyi license-deposit, which recently underwent underground mining for gold from 1999 to 2006 by Zakarpolymetally (a local subsidiary of the local government). The Berehiskyi License hosts a historic, near-surface polymetallic deposit, which is reported to contain approximately 18,709,300 t of 1.88 g/t Au; 38.35 g/t Ag; 2.07% Pb and 4.76% Zn.

The quoted disclosure for the Berehiskyi Gold Deposit was disclosed publicly by Zakarpolymetally. The deposit information is historical; it is relevant because it is indicative of a mineralized zone adjacent to the Barlevskoye and Vynohradiv licenses. The resource is based on drilling exploration and development carried out by Zakarpolymetally (USSR GKZ approved C1-C2 Soviet Category Resource). A Qualified Person (QP) has not classified historical estimates as current mineral resources-reserves, and Supatcha is not treating them as current mineral resources-reserves since recent work has not verified the historical estimates. Supatcha has not done any work, to date, to confirm these estimates.

Historic drill results at Barlevskoye and Vynohradiv include 3.6 grams per tonne gold ("g/t Au"), 31.6 grams per tonne silver ("g/t Ag"), 3.89 per cent ("%") lead ("Pb"), and 5.68 % zinc ("Zn") across 32.6 meters; 1.9 g/t Au, 248.40 g/t Ag, 9.36 % Pb and 1.66 % Zn across 29 meters; 12.2 g/t Au, 48.7 g/t Ag, 3.27 % Pb, and 6.79% Zn across 5.3 meters; and 1.1 g/t Au, 1021.7 g/t Ag, 1.06 % Pb and 2.63 % Zn across 27 meters. Drilling highlights from within the Vynohradiv Property include 5.1 g/t Au across 2.1 meters.

The exploration information available indicates that the previous exploration work was of high caliber and that the data compilation, interpretation and presentation had been modeled after classical western methods. The Company intends to compile the large volume of existing exploration information in the Barlevskoye and Vynohradiv deposits, which is in excellent order, into western English standards.

Work Program

Over the next several weeks, Supatcha is planning to review all the historical information, re-log and possibly resample some of the drill core from previous operators. We also plan to digitize the drilling and underground data to confirm the historical estimated tonnages and to confirm the known drill targets. It is expected that the next surface drill program should be underway in early spring of 2010.

Mr. Andrei B. Yasinskij is Supatcha's Chief Geological Advisor and is the qualified person for the exploration and development of the Barlevskoye and Vynohradiv Project. Mr. Yasinskij will be responsible for all of the technical reporting in compliance with NI 43-101.

For further information on the Company's gold and base metal projects, visit our website, www.supatcharesources.com.

About Supatcha Resources Inc. (OTCBB: SAEI)

Supatcha Resources Inc. is a gold exploration company focused on acquiring and developing mining properties in Ukraine. Supatcha is in the final stages of acquiring two additional gold mining projects in southwestern Ukraine with world-class potential.

Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the last reported fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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