SOURCE: Brownstone Resources Inc.

March 17, 2008 08:00 ET

Brownstone Resources Inc. Makes Announcement

TORONTO--(Marketwire - March 17, 2008) - ELLIOT LAKE URANIUM, ARIZONA GOLD; Brownstone Resources Inc. (PINKSHEETS: BWNR), a junior mineral resource exploration company, makes the following announcement on their Elliot Lake uranium, and Arizona gold mining claims/properties.

The company is proceeding with exploration on their fully optioned prospective uranium claims, located just outside of Elliot Lake, Ontario.

The first phase of exploration will consist of an airborne survey to better define previously identified areas of interest for development. The airborne survey will enable the company to better understand the area of interest, and help to further define the known anomalies, as well as satisfy the exploration commitments as per the agreement.

Regarding the Arizona gold mining claims, the company has now completed the due diligence on the property, more specifically on the ownership, previous exploration and government approvals and permits required to move to the next stage of exploration.

Having fully satisfied their contractual requirements regarding the due diligence, Brownstone now plans to secure and mobilize a diamond drilling rig onto the property to test the targeted area within the mineralized zone, as per their agreement.

Forward-Looking Statement

This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology.

These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein.

Contact Information

  • Contact:
    Investor Relations
    Brownstone Resources Inc.
    866-365-4724