Chieftain Metals Inc.
TSX : CFB

Chieftain Metals Inc.

September 30, 2011 17:48 ET

Chieftain Metals Announces Improved Metallurgical Test Results

TORONTO, ONTARIO--(Marketwire - Sept. 30, 2011) - Chieftain Metals Inc. ("Chieftain" or the "Company") (TSX:CFB) is pleased to announce improved metallurgical results indicating increased lead recoveries and cleaner copper concentrates. The test results, conducted through ALS Ammtec Ltd. laboratories, show an improvement in separation of lead from copper bearing minerals, resulting in an overall improvement in economics from the Preliminary Economic Assessment (PEA) (see Press Release dated June 14, 2011). In addition, the impurity levels are proving to be within the normal acceptable trading ranges.

The work completed to date supports the mineralogical conclusion (see Press Release dated May 17, 2011) that a slightly finer primary grind, in the order of 40-50 microns compared to the previous 65-70 micron grind, will result in significantly better liberation of the valuable minerals. The finer grind avoids complexities associated with flotation of composite particles and downstream regrinding with the additional benefit of reduced reagent additions.

Mr. Victor Wyprysky, President and CEO, commented, "I am pleased the team has accomplished one of our key value-add building block objectives with these metallurgical improvements."

Finalization of the lock cycle test work is on-going in support of the design criteria for the updated feasibility study with a specific focus on optimizing the balance between the copper recovery and concentrate quality. Completion of the updated feasibility study is expected by the end of Q1-2012.

The following table summarizes the 2011 test results to date:

Metal Recovery (%) Concentrate Quality (%)
Test work PEA Test work PEA
Copper 82 - 90 88.5 22 - 25 22.5
Lead 73 - 78 44.2 50 - 55 53.0
Zinc 86 - 92 87.3 56 - 60 59.0

Precious Metals

The overall gold recovery is expected to be in the order of 80% with approximately 30% of the gold through gravity separation and the remainder contained within the copper and lead concentrates. Total leach testing has demonstrated good liberation of the gold making it amenable to gravity separation or recovery by floatation. Very little of the gold is contained in the pyrite minerals. Silver recovery is in the range of 70-75% with most deported to the copper concentrate and a small amount to the lead concentrate.

About Chieftain Metals Inc.:

Chieftain Metals' principal business is the acquisition, exploration and development of mineral properties. Since incorporation, the company's business has focused entirely on the acquisition, and thereafter the development, of the Tulsequah Chief Polymetallic Project, in north-western British Columbia, Canada. The Tulsequah Project consists of 38 mineral claims and Crown-grants covering approximately 14,220 hectares and two previously producing mines. For more information on the Tulsequah Project, please refer to the Company's NI 43-101 compliant technical reports, "Preliminary Economic Assessment" dated July 29, 2011; "Tulsequah Chief Deposit, Tulsequah Chief Property, Northern British Columbia" and "Big Bull Project, Tulsequah Chief Property, Technical Report, Northern British Columbia", each dated as of November 8, 2010 and available under the Company's profile on SEDAR (www.sedar.com).

Data Security and Verification:

Ken Sangster, Senior Metallurgical Engineering consultant for Chieftain Metals Inc. is the Qualified Person responsible for this disclosure in conformance with the standards of National Instrument 43-101.

Forward-Looking Information:

This press release includes certain "forward-looking statements" within the meaning of the Ontario Securities Act or other laws or regulations. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization, mineral resources or reserves, exploration results and future plans and objectives of Chieftain Metals Inc. are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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