Crazy Horse Resources Inc.

Crazy Horse Resources Inc.

February 28, 2011 10:17 ET

Crazy Horse Signs Letter of Intent to Acquire Philippines Port Facility

MANILA, PHILIPPINES--(Marketwire - Feb. 28, 2011) - Crazy Horse Resources Inc. (TSX VENTURE:CZH) (the "Company") a Philippines based mineral exploration company, is pleased to announce it has entered into a letter of intent with a private Philippine company to acquire a 16 hectare port facility in Batangas, Philippines to handle the production from the Company's Taysan Copper Gold Project, assuming its successful development.

The site is on the southern end of Batangas Bay and adjoins the Shell Malampayan Onshore Gas Plant, the primary gas supply point to the Philippines. The facility comprises a 6m x 147m T-pier with two dolphins, licensed foreshore lease, administrative buildings, security fencing and site services, including power and water. Access from Taysan Copper Gold Project is via 20 km's of paved road.

The Company anticipates the port facility to be able to handle all potential loading and shipping of production from the Taysan Copper Gold Project, as well as importation of construction materials and operating consumables, and will serve as the site for a power plant for its required 70MW of project power.

Johan Raadsma, President of Crazy Horse states, "We are extremely excited about this strategic asset, which is well positioned near a substantial gas supply for our power requirements, with existing port facilities to ship (assuming its successful development) copper/gold/silver concentrate from our Taysan project as well as magnetite product, with ample room for construction and operating logistics."

Under the terms of the letter of intent, the Company has until April 24, 2011 to complete technical and legal due diligence of the port facility. Assuming satisfactory due diligence, a definitive asset purchase agreement will then be signed by the parties, and the Company will then be required to make stage purchase payments. The final terms of the acquisition will be provided upon the Company entering into a definitive asset purchase agreement.

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 (

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-IVA-108, EPA-IVA-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. The Company is currently conducting a confirmatory scoping study under the management of AMEC Minproc Limited, which remains on track and on schedule.

Stock Option Grant

The Company announces the grant of stock options to certain of its directors, officers and consultants to purchase up to 1,900,000 common shares. Each option is exercisable to acquire one common share of the Company at a price of $1.30 until February 28, 2016 in accordance with the terms of the Company's stock option plan.


Johan Raadsma, President, CEO and Secretary

This press release is not an offer of securities for sale in the United States. The common shares being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to an exemption from the registration requirements of that Act.

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. There is no assurance that the Company will be successful in completing the acquisition of the port facility in the Philippines (in which event any deposit paid may be forfeited). 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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