Astral Mining Corporation

Astral Mining Corporation

November 18, 2010 08:01 ET

Astral Acquires 100% of Honeymoon Exploration Project, Southern British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2010) - Astral Mining Corporation (TSX VENTURE:AA)(TSX VENTURE:AA.WT) (PINK SHEETS:AAMJF)(FRANKFURT:A7DA)("Astral" or "the Company") is pleased to announce that it has entered into a Letter of Intent dated November 12th 2010 whereby the company may acquire a 100% controlling interest of the Honeymoon Property ("the Property") located on the west side of Adams Lake, 85km northeast of Kamloops, southern British Columbia. The Property comprises 41 contiguous mineral claims covering 18,761ha and is prospective for Intrusive Related Gold and VMS style Cu, Au, Ag and Zn mineralization.

The project is located within favorable lithologies in a district boasting past producing mines and advanced exploration projects such as Yellowhead Mining Inc's Harper Creek Copper deposit, 20km northwest of Honeymoon. Calculations reported as late as August 2010 are available on Yellowhead's website and estimate an indicated resource of 569 million tonnes averaging 0.32% Cu.

The Property is within the Kootenay Terrane, underlain by rocks of the Palaeozoic Eagle Bay Assemblage and intruded by phases of the mid-cretaceous Baldy Batholith. The property has numerous mineralized showings, soil geochemical anomalies and historical trenching. Parts of the property were optioned by Teck Corporation in May 1999, exploration targeted a large vein system exposed at the Cam Gloria showing which returned trench results of 2m averaging 9.26 g/t Au and diamond drill results including 1m grading 9.57 g/t Au and 128.4 g/t Ag.

In order to earn a 100% interest in the Honeymoon property, Astral must issue 300,000 common shares, make cash payments totaling $135,000 in increments over five years and incur exploration expenditures of $1,000,000 over 4 years.

Technical details contained in this news release have been reviewed by Dale Brittliffe, P.Geo., a Qualified Person as defined in National Instrument 43-101 and Astral's Exploration Manager, but should be viewed as historical as the work was carried out by previous parties.

Astral Mining Corporation is a Canadian company engaged in the exploration and development of precious metal properties in the Americas. By focusing on exploration in mining-friendly districts, the Company minimizes the political and social risks encountered in many other parts of the world. With a new gold discovery at the Company's Jumping Josephine Gold Project in Southern British Columbia and an experienced technical team and seasoned management, Astral is poised to leverage this expertise into early exploration success. Further details on Astral Mining Corporation and its high-quality portfolio of exploration projects can be found at


Mr. Manfred Kurschner, President & CEO

Astral Mining Corporation

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. 

Shares outstanding – 17,277,400

2010 Number 20

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

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