Decade Resources Ltd.
TSX VENTURE : DEC

Decade Resources Ltd.

October 06, 2010 17:49 ET

Decade Financing to Continue Exploration

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2010) - Decade Resources Ltd. ("Decade" or the "Company") (TSX VENTURE:DEC) reports that it is raising $2,600,000.00 with $2,100,000.00 eligible for flow-through and $500,000.00 on a non flow-through basis.

Proceeds of the financing will be used to further explore the Montrose zone on the Red Cliff property as well as further define the area of intense alteration and mineralization on the Wedeene property as outlined below.

On the Red Cliff property, a new drill program has been approved by the joint venture partners and drilling will commence within the next few days, as soon as the drill is mobilized to the site. Drilling will explore in the area of DDH-2010-MON-1 which returned 49.2 grams per tonne gold over 18.45 metres, 28.4 metres of 7.3 grams per tonne gold in DDH-MON-2009-3 and 24.7 metres grading 20.87 grams per tonne gold in DDH-MON-2009-6. Drilling will expand the area of high grade gold mineralization both south, north and to depth. Previous drilling has shown the Montrose zone to consist of a stockwork of quartz-chalcopyrite-pyrite stringers associated with locally fine visible gold occurring along a 30 metre wide shear zone. Strong disseminated and fracture filled pyrite mineralization as well as galena-sphalerite-visible gold form an envelope to the above stockwork mineralization.

Twenty seven (27) diamond drill holes have been completed on this zone with assay results received for only four (4) holes to date. The next phase of drilling is expected to provide information that would allow the joint venture partners to make a decision on underground exploration in 2011.

On the Wedeene property, the area of the alteration and mineralization defined to date is in excess of 400 metres by 250 metres. Due to the extensive overburden, the company is planning a program of MMI soil sampling, IP surveys and down hole IP to define the limits of the copper-gold mineralized zone.

Flow-Through Non-Brokered Private Placement to Raise up to $2,100,000

The Company is pleased to announce it is using its best efforts to complete a flow-through private placement to raise proceeds of up to $2,100,000. The offering will be comprised of 7,000,000 flow-through units, at a price of $0.30 per unit. The units will be comprised of one flow-through common share and one-half of one non-flow-through warrant, each whole warrant being exercisable for the purchase of one additional share, at a price of $0.35 per share, for a two year period or, if the trading price of the Company's shares on the TSX Venture Exchange for 20 consecutive trading days exceeds $0.75 per share during the exercise period, the expiry time of the warrants shall be accelerated such that the expiry time will be 30 calendar days from the date of express written notice is sent by the Company to the holder by way of registered mail, provided the Company may not provide such notice until four months and a day after the date of issuance of the units.

Non Flow-Through Non-Brokered Private Placement to Raise up to $500,000

The Company is pleased to announce it is using its best efforts to complete a non flow-through private placement to raise proceeds of up to $500,000. The offering will be comprised of 2,000,000 non flow-through units, at a price of $0.25 per unit. The units will be comprised of one common share and one warrant, each warrant being exercisable for the purchase of one additional share, at a price of $0.35 per share, for a two year period or, if the trading price of the Company's shares on the TSX Venture Exchange for 20 consecutive trading days exceeds $0.75 per share during the exercise period, the expiry time of the warrants shall be accelerated such that the expiry time will be 30 calendar days from the date of express written notice is sent by the Company to the holder by way of registered mail, provided the Company may not provide such notice until four months and a day after the date of issuance of the units.

Finders' fees are payable on part of the offerings in accordance with TSX Venture Exchange policy.

Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration program on behalf of the company. All samples are assayed by Assayers Canada of Vancouver, BC.

About Decade Resources:

Decade Resources Ltd. is a Canadian based mineral exploration company actively exploring its portfolio of projects in Northern BC. The Company holds an extensive portfolio of exploration projects including: 60% interest in the Red Cliff property; an option to earn a 100% interest in the Silver Crown 6 claim, adjoining the Red Cliff property to the north; 100% interest in a large property underlain by copper-gold mineralization in the Kitimat area; claims located over the former Goat Mine, a small producer in the 1970's, approximately 34 kilometres northeast of Stewart and 5 kilometres north of the Stewart highway (37A) along the BA massive VMS horizon; 70% interest in the Stamp claims adjoining the BA claims hosting the BA massive VMS horizon.

ON BEHALF OF THE BOARD

Ed Kruchkowski, President

"This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

"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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