BOXXER GOLD CORP.
TSX VENTURE : BXX

BOXXER GOLD CORP.

March 03, 2008 06:00 ET

Boxxer Announces Drilling Results From Nalesbitan Project

CALGARY, ALBERTA--(Marketwire - Feb. 29, 2008) - Boxxer Gold Corp (TSX VENTURE:BXX) ("Boxxer" or the "Corporation") as Manager of the Nalesbitan project announces the results for three diamond drill holes ("DDHs") and 26 reverse circulation holes ("RC") completed on the Nalesbitan Hill gold deposit located in the Province of Camarines Norte, within Barangay Dumagman, Municipality of Lobo, Republic of the Philippines.

Boxxer executed an Option Agreement with ElDore Mining Corporation Limited on June 28th, 2007 to acquire a 65% interest in the Property subject to completion of certain terms and conditions (see news release dated July 4, 2007). The Property covers 1,184 hectares (approximately 2,800 acres) and is located approximately 315 kms. east-southeast of Manila, on the Bicol Peninsula on the country's main island of Luzon.

Diamond Drilling Results

The weighted average grade of the mineralized intervals for the diamond drill holes ( DDH) and Reverse Circulation Drill holes (RC) are set out in Table 1.

The locations of the DDHs and RCs being reported are shown in Figure 1. The DDHs were completed in order to twin several previously drilled Reverse Circulation drill holes and to provide a representative sample for additional metallurgical test work. The weighted average gold and silver grade of the mineralized intervals is based on a 50 gram fire assay analysis, using a 0.2 gram per tonne ("g/t") cutoff. The gold-silver mineralization is hosted in a broad zone of altered shallow dipping volcanic tuff. Several intersections of higher-grade gold-silver mineralization were intersected in a sub-vertical silicified breccia zone that extends for a distance of at least 400 m and to a depth of at least 100 m below surface. These intersections of higher-grade gold-silver mineralization occur within a broader zone of lower grade gold-silver mineralization.

Detailed Results - Nalesbitan Hill deposit

DDH127 and RC116, RC124 and RC130 have intersected narrow intervals of higher-grade ( greater than 15 g/t gold and greater than 30 g/t silver) gold-silver mineralization (see Table - 1, Figure - 1) that occur with wide zones of lower-grade gold-silver mineralization.



----------------------------------------------------------------------------
Hole Length Azimuth Dip From (m) To (m) Interval Gold Silver
ID # (m) (m) (g/t) (g/t)
----------------------------------------------------------------------------
ND115 50 000 -90 No Significant Mineralization
ND116 42 026 -60 0.00 4.00 4.00 2.71 2.10
10.00 22.00 12.00 6.01 30.90
including 14.00 16.00 2.00 18.50 51.80
ND117 65 026 -60 14.00 44.00 30.00 1.11 6.85
ND118 40 026 -60 No Significant Mineralization
ND119 96 206 -60 12.00 54.00 42.00 1.10 14.60
62.00 92.00 30.00 0.42 2.63
ND120 65 206 -65 0.00 6.00 6.00 1.30 0.93
54.00 60.00 6.00 0.65 9.33
ND121 50 026 -60 0.00 22.00 22.00 0.79 0.56
ND122 30 026 -60 4.00 21.00 17.00 2.29 1.01
ND123 60 026 -60 4.00 48.00 44.00 1.15 13.18
ND124 50 026 -60 4.00 44.00 40.00 3.18 29.79
including 30.00 34.00 4.00 14.85 48.95
ND125 45 026 -60 6.00 42.00 36.00 1.26 2.36
ND126 60 026 -60 20.00 32.00 12.00 0.90 1.15
ND127 59.6 026 -60 7.00 46.00 39.00 2.41 29.96
including 29.00 31.00 2.00 22.90 54.90
ND128 78.4 026 -50 2.00 9.00 7.00 0.63 0.85
13.00 41.00 28.00 1.12 12.00
ND129 55.1 116 -50 No Significant Mineralization
ND130 64 026 -60 2.00 60.00 58.00 0.63 8.09
ND131 69 026 -60 22.00 56.00 34.00 0.37 5.43
ND132 27 026 -60 2.00 12.00 10.00 0.67 0.44
ND133 75 026 -60 1.00 30.00 29.00 0.60 5.76
ND134 42 026 -60 0.00 18.00 18.00 0.91 6.80
32.00 36.00 4.00 0.44 7.15
ND135 54 026 -60 0.00 40.00 40.00 0.73 8.64
ND136 21 026 -60 0.00 14.00 14.00 0.47 0.25
ND137 48 026 -60 0.00 44.00 44.00 1.17 1.54
including 0.00 8.00 8.00 4.14 3.00
ND138 57 026 -60 0.00 57.00 57.00 1.05 5.92
ND139 51 026 -60 0.00 42.00 42.00 0.80 5.81
ND140 33 026 -60 8.00 24.00 16.00 0.52 4.16
ND141 21 026 -60 10.00 18.00 8.00 0.67 0.93
ND142 50 026 -55 20.00 34.00 14.00 0.72 3.83
ND143 81 026 -50 0.00 8.00 8.00 0.16 6.78
ND144 75 026 -50 0.00 6.00 6.00 0.55 0.62
ND145 51 026 -55 0.00 20.00 20.00 1.20 9.88
ND146 71 206 -80 0.00 12.00 12.00 0.54 0.78
----------------------------------------------------------------------------
Note: Until additional diamond drill results are available, the true
thickness of the mineralized intervals cannot be estimated.


Diamond Drilling and Sampling Procedures

Diamond drilling is completed using a 76 mm diameter core barrel. Core recovery is estimated to be greater than 95%. After splitting, one half of the core is collected for sample preparation and analysis and the other half is retained for future reference. Sample intervals were selected based on lithologies and intensity of alteration. The sample interval averaged one-meter.

The Reverse Circulation drilling is completed using a 120 mm diameter pipe. The cutting from the return are collected at 1 m sample intervals, quartered and rolled prior to collecting a one kilogram sample. Two successive one kilogram samples were composited and then quartered to produce a one kilogram samples that was submitted to the laboratory for analysis. Sample preparation was completed by Intertek Laboratories located in Manila, Philippines using the following procedure: core samples were pulverized in a jaw crusher to minus 1mm, mixed and split into two 0.75 kilogram sub-samples. One sub-sample is ground to 95% passing - 200 mesh and the other sub-sample is retained for reference purposes. A 250 gram pulp was submitted to the Intertek laboratory In Jakarta, Indonesia from which a 50 gram sample of the -200 mesh material is used for fire assay (detection limit 0.01 ppm gold) analysis and the balance is retained for additional fire assaying if required and reference purposes. Samples that assayed greater than 50 g/t gold were automatically re-assayed by Intertek F12 method, a techniques that is designed to assay for high gold values. Silver and base metals concentrations were determined utilizing Intertek method IC50 (geochemical analysis by ICP following multi acid digestion (HCl/HNO3/HClO4/HF). This method of digestion is considered most suitable as it is specifically designed for elements locked in a silicate/quartz matrix. Intertek is independent of Boxxer and has a 17025 International Standard Organization rating.

Quality Control

Boxxer follows a rigorous Quality Assurance/Quality Control program consisting of inserting standards, blanks and duplicates into the sample stream submitted to the laboratory for analysis. Elmer B. Stewart, MSc. P. Geol., President of Boxxer, is the Corporation's nominated Qualified Person pursuant to National Instrument #43-101, Standards for Disclosure for Mineral Projects, has reviewed the technical information disclosed in this news release.

Suspension of Activities

Under the terms of the Option Agreement, dated June 28, 2007, Boxxer has advised the parties to the Option Agreement that it is suspending current operations on the Nalesbitan Hill gold project in the Philippines in order to address operational issues surrounding the Nalesbitan Project. The Scoping Study previously announced on January 10, 2008 has also been postponed.

About Boxxer Gold Corp.

Boxxer Gold is a Canadian junior resource company that has an option to earn a 65% interest in the Nalesbitan gold deposit. The Nalesbitan gold deposit has a current mineral resource of 7.4 million tonnes at an average grade of 1.15 g/t gold. Boxxer is also involved in the exploration of copper-gold porphyry and Iron-Oxide-Copper-Gold projects in the state of Nevada, and a shear hosted gold project located 110 kilometres north of Yellowknife NWT, Canada.

Please follow this link to see "Figure 1-2007 DDHs and RCs Location Map": http://media3.marketwire.com/docs/303bxxfigure1.pdf.

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

Contact Information