March 28, 2007 11:22 ET

Baltic Resources Inc.: Coral Rapids Drill Program

TORONTO, ONTARIO--(CCNMatthews - March 28, 2007) - Baltic Resources Inc. (the "Company") (TSX VENTURE:BLR) is pleased to announce that the Company has commenced its diamond drilling program for its Coral Rapids Property (the "Coral Rapids Project"). The Company has contracted MW Drilling (independent of the Company) of Timmins, Ontario to complete the drilling program. The drilling program is designed to test seven kimberlite and three VMS base metal targets. In addition, a vertical hole will be put down through the Paleozoic section at what is believed to be its deepest point to test the basal sandstone for uranium content.

Additional information with respect to the Coral Rapids Project is contained in the technical report dated October 6, 2004, relating to the Coral Rapids Project entitled "Technical Report on the Coral Rapids Don McKinnon Property for Baltic Resources Inc." (the "Coral Rapids Technical Report"). A copy of the Coral Rapids Technical Report may be obtained from SEDAR at

This press release has been prepared under the supervision of Mr. John Boissoneault (P. Eng.), who is an independent consultant to the Company and a "qualified person" as such term is defined in National Instrument 43-101.

Forward-Looking Statements

This press release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to potential mineralization, exploration results and the Company's plans with respect to the exploration and development of the Coral Rapids Project) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in commodity prices, changes in equity markets, failure to establish mineral resources, changes to regulations affecting the Company's activities, delays in obtaining or failures to obtain required regulatory approvals, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting drilling results and other ecological data, and the other risks involved in the mineral exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

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

Contact Information

  • Baltic Resources Inc.
    Don McKinnon
    (705) 268-9000
    (705) 268-5532 (FAX)