Crowflight Minerals Inc.

Crowflight Minerals Inc.

February 29, 2008 07:30 ET

Crowflight Drilling at Halfway Lake Intersects 13 Metres Grading 1.6% Nickel

TORONTO, ONTARIO--(Marketwire - Feb. 29, 2008) - CROWFLIGHT MINERALS INC. (Crowflight, the Company) (TSX VENTURE:CML) is pleased to announce assay results for two of the four holes completed on its Halfway Lake project, located in close proximity to the Bucko Project south of Thompson, Manitoba. The most notable result is Hole HW08-02 that intersected 13.03 metres (42.8 feet) grading 1.58% nickel.

Nine holes totalling 4,800 metres have been completed since the commencement of the 2008 winter exploration activities on Crowflight's Xstrata Nickel joint venture (JV) properties in the Thompson Nickel Belt in January. Assay results are currently available for two of the nine completed holes. Please refer to Table 1 for a presentation of the assay results and Figure 1 for a location map.

Greg Collins, Crowflight's Vice President of Exploration, commented on the results stating: "We are pleased by the initial results from our program at Halfway Lake. The intersection represents some of the highest grade material encountered to date at Halfway Lake and expands the limits of known mineralization up-dip from the known resource."

Table 1.

Summary Assay Results 2008

Halfway Lake Deposit, Thompson Nickel Belt

Core Core
Drill Hole From To Length Length Nickel Copper PGE's(1)
---------- ---- -- ------ ------ ------ ------ --------
(metres) (metres) (metres) (feet) (%) (%) (gpt)

HW08-01 348.20 351.60 3.40 11.2 0.90 0.08 0.11

And 366.00 370.00 4.00 13.1 0.69 0.05 0.13

HW08-02 334.22 347.25 13.03 42.7 1.58 0.09 0.26

Incl. 334.22 339.45 5.23 17.2 1.76 0.07 0.24

Incl. 338.45 339.45 1.0 3.3 2.44 0.05 0.23

(1) Combined platinum and palladium values

Intersection intervals reported are core lengths, actual true widths
are unknown at this time but are generally 70 to 80% of core length.
Once known, true widths are calculated for each intersection. These
could vary somewhat from time to time as the zones are re-interpreted,
thereby altering the geometry.

Presently three surface drill rigs supplied by More Core Diamond Drilling Services Ltd. of Stewart, BC are engaged in drilling at Halfway and Bucko Lake. Results from this program will be released over the coming weeks as assay results become available. The Company plans to complete 25 holes for a total of 10,000 metres during the entire winter 2008 drilling season on the Xstrata JV.

Crowflight expects to finalize planning for the Pure Nickel/Crowflight Manibridge JV exploration program in the coming weeks, with activities expected to commence late in the spring of 2008.

Crowflight plans to spend $2.5 million on exploration on the Xstrata JV (funded 100% by Crowflight), $2 million on delineation and definition drilling underground at Bucko and $2 million on the Manibridge JV (funded 50% by Crowflight and 50% by Pure Nickel) during 2008.

Qualified Person/Quality Control Procedures

This press release has been prepared and reviewed by Mr. Greg Collins, P.Geo (APGO/APEGM), a Qualified Person under the NI 43-101 guidelines. Fire assays were performed at the ALS-Chemex laboratory in Vancouver on all the samples for Gold and PGE's which undergo an ICP-AES finish and Sodium Peroxide Fusion. All other metals undergo an ICP-AES finish. Standards and blanks are submitted with each sample batch.

Crowflight Minerals - Canada's Next Nickel Producer

Crowflight Minerals Inc. (TSX VENTURE:CML) is a Canadian junior mining exploration and development company focused on nickel, copper and Platinum Group Mineral ("PGM") projects in the Thompson Nickel Belt and Sudbury Basin. The Company currently owns and/or has under option approximately 800 square kilometres of exploration and development properties in Manitoba and Ontario.

Crowflight's priority is to bring the Bucko Nickel deposit located near Wabowden, Manitoba into production by mid-2008.

Cautionary Note on Forward-Looking Information

Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the Company's business activities and plans. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Total Shares Outstanding: 250.7MM

Fully Diluted: 282.7MM

52-Week Trading Range: C$0.45 - $1.35

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Contact Information

  • Crowflight Minerals
    Mike Hoffman
    President and CEO
    (416) 861-2964
    Crowflight Minerals
    Heather Colpitts
    Manager, Investor and Public Relations
    (416) 861-5803