Blue Pearl Mining Ltd.
TSX VENTURE : BLE

Blue Pearl Mining Ltd.

July 20, 2005 15:13 ET

Blue Pearl files Project Description for Davidson molybdenum deposit

TORONTO, ONTARIO--(CCNMatthews - July 20, 2005) - Blue Pearl Mining (TSX VENTURE:BLE) is pleased to announce it has filed with British Columbia's Environmental Assessment Office (the "EAO") a Project Description for developing the Davidson molybdenum deposit near Smithers, B.C.

The 61-page document formally initiates the environmental assessment process under B.C.'s Environmental Assessment Act. The EAO circulates the document to relevant government agencies and First Nations and makes it available to the public.

"This document provides a good overview of our plans to develop the Davidson deposit and I encourage anyone interested in the project to read it," said Blue Pearl's Chief Operating Officer Ken Collison. The report, prepared by Rescan Environmental Services Ltd., is available at www.bluepearl.ca and will be made available at www.eao.gov.bc.ca and www.rescan.com.

The Company proposes construction of an underground mine to produce 2,000 tonnes of ore per day. Crushed ore would be transported off site for processing. An existing adit at 1066 metres elevation would be enlarged for access. Broken ore would be dropped down an internal shaft within Hudson Bay Mountain and extracted through a second adit to be driven at approximately 700 metres elevation.

Environmental baseline studies began in April 2005 and will continue through to March 2006. A feasibility study is being prepared by Hatch Ltd.

Based on a technical report compliant with National Instrument 43-101 and filed on SEDAR, and using a cut-off grade of 0.2% MoS2, the Davidson property is estimated to contain a measured and indicated mineral resource of 83.0 million tons grading 0.295% MoS2 representing 293.5 million pounds of molybdenum (please refer to the Company's Material Change Report dated Jan. 26, 2005, and Technical Report dated February 16, 2005 and filed on SEDAR on March 7, 2005). Gary Giroux, P. Eng., is the independent qualified person in accordance with National Instrument 43-101 and has read and approved this news release.

In general, the environmental assessment process identifies and assesses the potential effects that may result from a proposed project and develops measures for managing those effects. It provides opportunities for all interested parties, including First Nations, to identify issues and provide input.


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Contact Information

  • Blue Pearl Mining Ltd.
    Ian McDonald
    Chairman & CEO
    (416) 860-1438, toll free: 1-800-827-0992
    or
    Blue Pearl Mining Ltd.
    Jim Borland
    Investor Relations Director
    (416) 860-1438, toll free: 1-800-827-0992
    info@bluepearl.ca
    www.bluepearl.ca
    or
    Renmark Financial Communications Inc.
    Christina Lalli
    (514) 939-3989
    clalli@renmarkfinancial.com