VMS Ventures Inc.

VMS Ventures Inc.

April 23, 2008 06:30 ET

VMS Reports 35.8m of 2.69% Copper at Reed Lake, Manitoba; Dr. Mark Fedikow Joins Management Team

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 23, 2008) - VMS Ventures Inc. (TSX VENTURE:VMS) (the "Company") is pleased to report on its ongoing exploration program at the Reed Project Discovery Zone near Snow Lake, Manitoba.


RD-08-34: 35.80m (117.45ft) grading 2.69% Cu, 0.65% Zn

Including 10.43m (34.22 ft) grading 3.52% Cu, 0.27% Zn

RD-08-30: 22.93m (75.23 ft) grading 1.07% Cu, 4.00% Zn

Dr. George Gale, Vice President of Exploration states: "Holes RD-08-30 and RD-08-34 assay results are within the range of grades announced for previous holes in this deposit and are substantial intersections in themselves. These are very much in line with the grades typical for mined deposits in the belt. In addition, the intersection of near solid sulphide (NSS) in drill hole RD-08-35 announced on April 10, 2008 provides continuous intercepts at approximately 25m spaced intervals from hole RD-08-16 west to hole RD-08-35. This suggests a strike length of approximately 125m, open in both directions. It is especially interesting that the discovery is located at the eastern and northern boundary of a large prominent magnetic high anomaly, which now can be directly correlated with the VMS deposit. A ground magnetic survey has provided a detailed map that shows that the magnetic anomaly associated with the mineralization extends to the edge of the current survey grid, a distance of approximately 500m to the west of the discovery hole (RD-07-02). Our next phase of drilling will include holes to test the magnetic anomaly to the west of current drill holes."

During the pause in drilling for spring breakup, several exploration activities on the Discovery Zone continue. They include:

- A ground magnetic survey, which already has provided a detailed map showing that the magnetic anomaly associated with the mineralization extends to the edge of the current survey grid, a distance of approximately 500m to the west of the discovery hole (RD-07-02). The grid will be extended another 700m further west (see http://www.vmsventures.com/image_pages/image020.asp to link to map).

- The Deep EM survey continues on the property and will ultimately cover over 100 line kilometers over and around the Discovery Zone.

- The Downhole EM equipment is also on the property. Two holes are completed and six have been selected for immediate attention. Probes as deep as 200 meters are contemplated. Each provides an EM reading of up to 100 meters in diameter along the entire length of each hole surveyed.

- A gravity survey of the discovery area is now underway. This will assist in confirming the direction that the mineralization is trending and may assist in identifying the core of the Discovery Zone mineralization discovered thus far.

The Company is also pleased to announce that Dr. Mark Fedikow has joined the management team of VMS Ventures and Harvest Gold Corporation. Dr. Fedikow will act as Vice-President of Technical Services and will be involved in all aspects of developing the Company's exploration plans for its extensive Copper-Zinc and Nickel property portfolios in Manitoba, Canada. Mark will join the VMS management group and exploration team in Winnipeg and Snow Lake from April 23-27th. The meetings are designed to analyze the progress on the Discovery Zone and develop a detailed exploration plan for the remainder of 2008.

Dr. Fedikow has 30 years of mineral exploration experience with industry and government surveys as an exploration geochemist and mineral deposits geologist. In 2001 he was the recipient of the Provincial Geologists Medal, a Canadian national award for outstanding geoscientific achievement. He has published numerous articles on mineral deposits and their geochemical expressions in rock, soil and vegetation sample media. Specifically, he has applied the Mobile Metal Ions Process (MMI) in exploration programs for a wide variety of mineral deposit types including lode gold, porphyry copper, base metal massive sulphides and magmatic nickel-copper-PGM.

President John Roozendaal, states: "Mark brings with him a wealth of knowledge and field experience with the geology, and in particular mineral deposits, of Manitoba. As a recognized expert in the field of exploration geochemistry, he adds valuable experience in employing modern geochemical surveys to help detect mineralization. Mark's experience in planning and executing drilling programs will allow us to manage the growing number of drill ready properties in the Company. We are delighted to have Mark join the VMS team."

ASSAYS FOR RD-08-30 and RD-08-34

HOLE (m) (m) INT(i) % % g/t g/t
RD-08-30 136.65 159.38 22.93 1.07 4.00 8.84 0.71
RD-08-34 167.92 203.72 35.80 2.69 0.65 6.94 0.43
inc 193.29 197.79 4.50 5.92 0.56 11.45 0.86
(i) True thickness unknown

All technical information in this release has been reviewed by the Qualified Person, Dr. George Gale, P. Eng. Samples are prepared and analyzed at TSL Laboratories in Saskatoon, Saskatchewan using ICP-MS and Fire Assay analytical methods.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc properties in the Flin Flon-Snow Lake VMS Belt. The Company also holds the largest land package considered prospective for nickel-copper mineralization at Lynn Lake, which is to date Canada's third largest nickel producing camp. The Company's project portfolio consists of the Snow Lake VMS project, the Lynn Lake Gabbros nickel-copper project, the Nickel Belt project, the South Bay nickel-copper-cobalt PGE property, and the Eden Lake Carbonatite Complex, Specialty Metals property. All VMS Ventures Inc. properties are located in the mining friendly province of Manitoba, Canada.


Rick Mark, CEO & Chair

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • VMS Ventures Inc.
    Keith Patey
    Director of Communications
    (604) 986-2020 or Toll Free: 1-866-816-0118
    (604) 986-2021 (FAX)
    Website: www.vmsventures.com
    Coal Harbor Communications
    Dale Paruk
    (604) 662-4505 or Toll Free: 1-877-642-6200