Tarsis Capital Corp.

Tarsis Capital Corp.

September 28, 2007 08:30 ET

Tarsis Options Tim Property to Intl. KRL Resources, Drilling to Commence Shortly

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2007) - Tarsis Capital Corp. (TSX VENTURE:TCC) ("Tarsis") is pleased to announce that it has signed an agreement with International KRL Resources Corp. (TSX VENTURE:KRL), whereby Intl. KRL can earn a 60% interest in the Tim Property. The Tim Property is located 72 kilometres west of Watson Lake, Yukon and is accessible by road from the Alaska Highway.

The property is located in the same mineral district as the Silvertip Deposit, a significant silver resource that is owned by Silver Standard Resources Inc. Geology on the Tim Property is believed to be similar to that at Silvertip.

The Tim Property covers a sequence of Lower Cambrian and Cambrian rocks, with the potential for carbonate replacement or manto style deposits. Previous work on the property in the late 1980's established anomalous soil geochemical results with elevated silver, lead, zinc and manganese values. Two large geochemical anomalies were defined, measuring 1,500 metres by 300 metres and an induced polarization (IP) survey recorded results that are coincident with the geochemical anomalies.

Trench chip samples taken on the property returned 352.4 g/t silver, 9.12% lead over 4 m and two grab samples taken from another trench returned assays of 1,248.1 g/t silver and 49.5% lead and 978.7 g/t silver and 32% lead respectively. In 1988, a 20 hole, 2,000 metre diamond drill program was recommended, however drilling has never been carried out on the property.

Intl. KRL have subsequently increased the size of the property to 289 claims (14,926 acres) and announced that a drill program will commence shortly.

President and CEO, Marc Blythe stated, "We are very pleased to have International KRL advancing this property. Seamus Young and his team have significant operating experience in the Yukon and we look forward to the commencement of drilling this fall."

Under the terms of the agreement with Tarsis, Intl. KRL can earn a 60% interest in the Tim Property by issuing to Tarsis 1,000,000 shares and completing $3 million in exploration expenditures before September 10, 2011. The agreement includes a commitment to issue 200,000 shares to Tarsis within 5 days of regulatory approval being granted and completing $250,000 in exploration expenditure before September 10, 2008.

Intl. KRL have named Mr. Michael Sanguinetti, P.Eng., as the qualified person responsible for the project. Mr. Sanguinetti has reviewed the technical content of this news release.

On behalf of the Board of Directors

Tarsis Capital Corp.

Marc G. Blythe, P.Eng., MBA., President and Chief Executive Officer

The TSX Venture Exchange does not Accept Responsibility for the Adequacy or Accuracy of this Release.

Contact Information

  • Tarsis Capital Corp.
    Marc G. Blythe, P.Eng., MBA.
    President and Chief Executive Officer
    (604) 689-7644
    Email: info@tarsis.ca
    Website: www.tarsis.ca