Canadian Shield Resources Inc.
TSX VENTURE : CSP

Canadian Shield Resources Inc.

March 11, 2008 10:31 ET

Canadian Shield Intersects Two 41-Metre Intercepts With 96.2 g/t and 63.7 g/t Silver Equivalent at La Estrella

TORONTO, ONTARIO--(Marketwire - March 11, 2008) - Canadian Shield Resources Inc. (TSX VENTURE:CSP) ("Canadian Shield" or the "Company") is pleased to announce additional results from its Phase II diamond drill program at the La Estrella Property located in the Department of Huancavelica, Central Peru.

HIGHLIGHTS

- Drill hole DDH-E14 was drilled to a total depth of 140 metres and encountered two 41-metre mineralized zones. The hole was collared 60 metres north of holes RC-E10 and RC-E11 in which the Company encountered high grade silver and gold mineralization in Phase I drilling.

- The upper intersection extends from 4 to 45 metres depth and averages 58 grams per tonne silver (g/t Ag) and 0.69 grams per tonne gold (g/t Au). This interval includes a 22-metre high-grade zone (from 19 to 41 metres depth) that runs 92.3 g/t Ag and 1.06 g/t Au. The second mineralized zone extends from 83 to 124 metres and averages 38 g/t Ag with 0.47 g/t Au.

- Drill hole DDH-E13 intersected 95 metres (from 32 to 127 metres depth) of 51.4 g/t Ag and 0.38 g/t Au, for a Silver Equivalent (AgEq) grade of 72.1 g/t.

- DDH-E13 is a diamond core twin hole to RC-E10 in which Canadian Shield previously reported an intersection of 107 metres grading 77.7 g/t Ag and 0.39 g/t Au, or a AgEq of 99.1 g/t Ag (see press release of November 23, 2007).

The table below shows details of the two holes.



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Gold Silver
Interval (metres) Length Gold Silver Equivalent Equivalent
Hole Number ---------------- (metres) ------------ ---------------------
From To g/t g/t g/t g/t
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DDH-E13 32 127 95 0.38 51.4 1.31 72.1
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including 32 57 25 0.62 78.7 2.05 112.7
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DDH-E14 4 45 41 0.69 58 1.74 96.2
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including 14 41 27 0.95 82 2.44 134
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including 19 41 22 1.06 92.3 2.73 150.6
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83 124 41 0.47 38 1.16 63.7
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including 86 111 25 0.48 45.9 1.32 72.4
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Silver:Gold equals 55:1 Metal Recovery assumed to be 100%
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"Hole DDH-E14 confirms the continuity along strike to the north in the broad, potentially bulk-mineable zones of silver and gold mineralization encountered in Phase I drilling," said Phil Anderson, Canadian Shield's VP Exploration. "The results from DDH-E13, the diamond core twin to RC-E10, have essentially identical gold values but the silver values are lower in the core. We are looking into this issue and will rely on the core results at this time. The results from DDH-E13 further reconfirm the presence at depth of mineralization similar to that outcropping at surface, and may be part of a near surface, open pit mineable portion of the system."

Phase II drilling began in mid-January and was completed at the end of February after drilling 1,811 metres in 10 holes. To date, the Company has published results from 3 of the 10 holes and results from the remaining 7 holes are pending and will be reported as available.

PHIL ANDERSON GOES BEYOND THE PRESS RELEASE

Please join VP Exploration Phil Anderson as he goes "Beyond the Press Release" to provide shareholders with an audio address that further discusses the results described within this press release. The address will be available on the Canadian Shield Resources Investor Relations Hub at http://www.agoracom.com/ir/canadianshield on or before March 17, 2008.

QUALITY ASSURANCE AND QUALITY CONTROL MEASURES

Canadian Shield exercises a strict chain of sample custody in all programs. The Company's personnel removes core from the drill rig and delivers it to a senior project geologist who marks the core into 1 metre sample intervals. Canadian Shield's personnel supervise the immediate splitting, sawing and bagging of samples, and packaging of groups of samples for dispatch to the lab. The remainder of the split core remains on site.

The Company's staff transports batches of samples 130 kilometres to Huancayo, where they ship the samples directly to SGS Laboratory's facility in Lima. At the lab, the samples are prepared by crushing and pulverizing and a 30 gram charge is assayed for gold by conventional fire assay and/or atomic absorption methods. Multi-element ICP analysis is carried out using a multi-acid digestion process. All samples that contain silver and/or copper, lead, and zinc values that exceed the upper detection limits for ICP are reanalysed by conventional atomic absorption methods to determine the absolute values of these metals.

Silver Equivalent (AgEq) was calculated assuming a 55 to 1 ratio of Gold to Silver. Metallurgical recoveries and net smelter returns are assumed to be 100%.

Phil Anderson, a "Qualified Person" as defined by National Instrument 43-101, supervised the program and approved the technical aspects of this press release.

Investors are invited to visit the Canadian Shield IR Hub at http://www.agoracom.com/IR/CanadianShield where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to CSP@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

About Canadian Shield Resources Inc. (TSX VENTURE:CSP)

Canadian Shield acquires and explores strategically-located precious and base metal properties in South America. The Company currently controls a portfolio of nine exploration properties located in Peru and Chile. Canadian Shield will continue to focus on project generation and joint venture opportunities to provide shareholders with interests in a broad portfolio of South American mineral properties. The Company's shares are listed on the TSX Venture Exchange (Trading Symbol TSX V: CSP). Further information is available at Canadian Shield's website: www.canadianshieldresources.com.

STATEMENTS IN THIS PRESS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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