Pele Mountain Resources Inc.

Pele Mountain Resources Inc.

December 19, 2007 11:14 ET

Wallbridge Announces New Discoveries and Drill Plans at Pele Mountain's Sudbury Project

TORONTO, ONTARIO--(Marketwire - Dec. 19, 2007) - Pele Mountain Resources Inc. (TSX VENTURE:GEM) ("Pele" or the "Company") has announced that Wallbridge Mining Company Limited ("Wallbridge") today reported exploration progress and drilling plans at Pele's Sudbury Project in Northern Ontario. Exploration at Sudbury is funded and operated by Wallbridge, which can earn up to a 72.5-percent interest in the Project by funding it through to feasibility and arranging mine construction financing.

Wallbridge announced the discovery of extensive zones of platinum group element ("PGE"), chlorine, and pathfinder element enrichment within a belt of Sudbury Breccia that extends over a strike length of approximately eight kilometres and within a corridor up to two kilometres wide. These favourable rocks are indicative of the passage of mineralizing fluids similar to breccia rocks hosting copper-PGE mineralization at the Strathcona (Xstrata) and McCreedy West (FNX) mines in the nearby Levack Trough. The belt has thus far been mapped across the southern third of the property.

For a detailed map of the Sudbury project area, please go to

Wallbridge reports that drilling of an isolated two-line AeroTEM III anomaly situated near one of the discrete zones of PGE, chlorine, and pathfinder element enrichment is scheduled to begin before year-end. Meanwhile, linecutting is underway to establish a 120 line-kilometre grid across the southern third of the property to continue exploration of the Sudbury Breccia belt with an induced polarization survey in January. A follow-up drill program is planned for the first quarter of 2008.

Wallbridge also announced that it has extended the second Pele Offset dyke (discovered by Wallbridge in 2006) approximately three kilometres northward to near the northern property boundary, about one kilometre west of the main Pele Offset Dyke (discovered by prospectors in 2005).

Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then shipped to their analytical facilities in Vancouver. Samples were analyzed for Au, Pt, and Pd by standard lead collection fire assay fusion followed by a combination of inductively coupled plasma mass spectrometry (ICP-MS) and atomic emission spectrometry (ICP-AES). Samples were also analyzed for 33 base metal and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total digestion and a combination of ICP-MS and ICP-AES.

Pele's Sudbury project consists of approximately 350 mining claim units covering 14,000 acres in the Sudbury Mining Camp, the most productive nickel mining district in the world. The camp's dominant feature is the Sudbury Basin, a 60-kilometre long elliptical structure that features Cu-Ni-Pt-Pd deposits along the contact and footwall of the Sudbury Igneous Complex, which forms the outer rim of the Sudbury Basin, as well as within offset dikes that emanate radially outward from it. Offset dikes have become the target of progressively more intense exploration interest because they have hosted several successful operations, including the Copper Cliff and Worthington mines.

About Pele Mountain Resources

Pele Mountain Resources provides investors with leverage to uranium as it advances its 100-percent owned Elliot Lake Uranium Project toward objectives of development and production. The project hosts more than 42-million pounds of NI 43-101 compliant U3O8 resources (6.4 million pounds "indicated" at a grade of 0.051-percent and 36.1 million pounds "inferred" at a grade of 0.044-percent) and has received a positive Scoping Study, providing the basis for economically-viable, environmentally-compliant uranium mining and processing operations.(1) The Elliot Lake mining camp has produced more than 300 million pounds of U3O8 and was formerly known as the "Uranium Capital of the World". Pele also holds a diverse portfolio of gold, diamond, and base metal projects in Northern Ontario. Pele stock is listed on the TSX Venture Exchange under the symbol "GEM".

1. The Scoping Study is preliminary in nature and includes both indicated and inferred mineral resources. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the Scoping Study will be realized.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Pele's future plans, objectives or goals, including words to the effect that Pele or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. The economic viability of the 43-101 mineral resource at Pele's Elliot Lake Project has not yet been demonstrated by a preliminary feasibility study.

Common Shares Outstanding: 73,644,360

The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information