Velocity Minerals Ltd.
TSX : VLC

Velocity Minerals Ltd.

October 13, 2009 13:00 ET

Velocity Minerals Ltd. Completes Partial Drill Program at Cassiar, BC

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 13, 2009) - Velocity Minerals Ltd. (TSX:VLC) wishes to announce that it has completed a four holes drill program on its Mt. Haskin property for a total of approximately 950 meters. Results from core assays are expected later this fall. The Mt. Haskin property is a molybdenum prospect which contains a 43-101 compliant inferred resource described in the Company's June 5, 2009 NI 43-101 Technical Report and Resource Estimation. It may be found on www.sedar.com and on the Company's website, www.velocityminerals.com.

The Company has also suspended drilling on its Cassiar Moly property due to inclement weather. In order to reduce re-entry time and mobilisation costs, the drill rig will remain on the property over the winter. As mentioned in earlier press releases, there have been prior reported surface occurrences from 0.20% Mo across 12 feet to 3.6% Mo. across 5 feet and the adit has prior reported high grade zones that run up to 4.17% MoS2 over a meter and a combined average grade across 3 meters of 1.64% MoS2. The quoted assays have not been verified in the field by a NI 43-101 Qualified person and should be viewed with caution.

The Company has also completed surface and adit occurrence sampling and will announce assay results later this fall.

Velocity Minerals Ltd. is a company dedicated to the acquisition and development of advanced or high-grade molybdenum mineral properties. Velocity presently owns the mineral rights to two molybdenum projects in northern British Columbia (Mt. Haskin and Cassiar Moly) and is actively pursuing other properties in North America and internationally.

The TSX has neither approved nor disapproved of the information contained herein.

Contact Information

  • Velocity Minerals Ltd.
    Jeremy Yaseniuk
    Investor Relations
    (604) 689-7411 or Toll Free: (866) 920-0567
    www.velocityminerals.com