Crazy Horse Resources Inc.
TSX VENTURE : CZH

Crazy Horse Resources Inc.

November 22, 2010 09:30 ET

Crazy Horse Resources Inc.: Confirmatory Scoping Study of the Taysan Copper-Gold Project on Schedule for Q1, 2011 Delivery

MANILA, PHILIPPINES--(Marketwire - Nov. 22, 2010) - Crazy Horse Resources Inc. (TSX VENTURE:CZH) -

HIGHLIGHTS:

  • Twinning of 12 out of 144 historic diamond drill holes is 28% ahead of schedule;
  • Comminution testwork samples being processed by Metcon Laboratories, Sydney, Australia ahead of schedule; and
  • A total of 576 samples have been submitted to McPhar Geoservices (Phil), Inc. for analysis.

Crazy Horse Resources Inc. (the "Company"), a Philippines based mineral exploration company, announces that the confirmatory Scoping Study ("Study") managed by AMECMinproc Limited ("AMEC") is on track for Q1, 2011 completion with the critical activities of Diamond Drilling being 28% ahead of schedule and metallurgical samples being processed at the Metcon laboratories ("Metcon") in Sydney, Australia one month ahead of schedule.

Diamond drilling continues with four rigs and is expected to be completed by late December or early January 2011. Summary performance is shown in the table below:

Drilling Summary      
Ending Budget Actual PQ HQ NQ
31-Oct-10 1,071.00 1,451.20 644.10 807.10 0.00
19-Nov-10 1,224.00 1,495.70 551.20 944.50 0.00
Total 2,295.00 2,946.90 1,195.30 1,751.60  

A 130kg shipment of representative samples has been received by Metcon for comminution testwork and is being processed.

Two shipments of 340 and 239 samples have been received by McPhar Geoservices (Phil), Inc. and are being processed for assay determination. It is expected that initial results will be available within the coming week.

Taysan Project

A copy of the National Instrument 43-101 ("NI 43-101") report by R. Sowerby, of Geosynthesis Pty Ltd. entitled "A Technical Review of Exploration and Resource Estimates of the Taysan Project, Batangas Province, Philippines", in collaboration with Mining Associates Inc. of Australia can viewed under the Company's profile on SEDAR (www.sedar.com).

The Project contains a drill defined copper-gold porphyry deposit, and is comprised of two mining exploration permits and three mining exploration permit applications (permits: EP-IVA-005 and EP-IVA-016, and permit applications: EPA-IVI-108, EPA-IVI-111 and EPA-IVA-081) over five contiguous claim blocks covering a combined total area of 11,254 hectares. The Project hosts a large and only partly explored copper-gold porphyry deposit similar to other copper-gold porphyry deposits previously mined in the Philippines. The Project is located in southern Luzon, Philippines in a well-developed mining province and readily accessible by road located 20km east of the provincial capital and deep-water commercial port of Batangas City.

Qualified Person

Brian Lueck, Chairman of the Company, is the qualified person who has reviewed the geological data summarized in this news release on behalf of the Company.

ON BEHALF OF THE BOARD

Johan Raadsma, President, CEO and Secretary

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Crazy Horse Resources Inc. Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Crazy Horse Resources Inc. does not assume the obligation to update any forward-looking statement, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX venture exchange) accepts responsibility for the adequacy or accuracy of this release.

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