SOURCE: Brownstone Resources Inc.

July 09, 2008 08:30 ET

Brownstone Resources Inc. Updates on the Arizona Project "The LS Grande Property"

TORONTO--(Marketwire - July 9, 2008) - BROWNSTONE RESOURCES INC. (PINKSHEETS: BWNR) announces it is days away from completing/satisfying their financial terms relating to the option and earn in for their proposed Joint Venture Agreement for the LS Grande Gold/Silver/Copper property located in NE Arizona.

The previously announced agreement covers 10 mining property claims, with the possibility of increasing the size of the land holdings moving forward.

The LS property was originally identified by remote sensing with results indicating the potential of the mineralized zone to be quite large. The best areas were sampled by pit excavation, allowing for the extraction of samples from the mineralized zone.

To date, only surface samples have been taken from the exposed areas located on the north and northeast end of the property. In addition to the target areas identified for exploration in the 2008 field season, the company also intends to explore for the possibility of identifying new target areas over the Property. The company expects to be in a position to evaluate a number of the best targets followed shortly thereafter by initial diamond drill testing. A number of targets occurring on approximately half of the claim blocks are currently being planned as drill targets in the first round of drilling slated to begin late this summer/early fall.

The state of Arizona has produced more than 16 million troy ounces (498 tonnes) of gold. In 2006, all of Arizona's gold production came as a byproduct of copper mining. Several other major base and precious metals mines have been developed on approximately the same latitude as the LS property. Brownstone plans to post some of the pertinent geophysical data on their respective website once the final data has been received and fully evaluated.

Brownstone is a gold exploration company focused on creating value for shareholders by exploring and developing high-grade gold mining properties. Details of Brownstones projects are available on the Company's website at www.brownstoneresources.com.

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Contact Information

  • Contact:

    Investor Relations
    Brownstone Resources Inc.
    866-365-4724