Cogitore Resources Inc.
TSX VENTURE : WOO

Cogitore Resources Inc.

October 11, 2006 09:00 ET

Estrades Independent 43-101 Compliant Resource Calculations Completed; Feasibility Study Initiated

TORONTO, ONTARIO--(CCNMatthews - Oct. 11, 2006) - COGITORE Resources Inc.(the "Company") (TSX VENTURE:WOO) is pleased to announce that it has received from Scott Wilson Roscoe Postle Associates Inc. ("Scott Wilson RPA") the results from an independent resource calculation on its 100% owned Estrades base and precious metal deposit. The resources were calculated by Bernard Salmon, Eng., consulting engineer with Scott Wilson RPA, and a Technical Report acceptable under National Instrument NI-43-101 will be filed on SEDAR, in accordance with current regulations, within 45 days of the present release.

The resource calculations were done using a block model based on a minimum horizontal width of 2.0 metres and a cut-off grade of $120 per tonne. Other technical parameters are fully disclosed in the Scott Wilson RPA report. The estimate was done to a depth of 585m on the Main Zone only and confirmed the following resources in the Indicated Resources category:



Main Zone - Total Indicated Resources:

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depth tonnes %Cu %Zn %Pb g/t Au g/t Ag
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0-190m 54,000 0.88 13.06 1.35 7.64 196.0
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190-415m 337,000 0.79 10.71 1.02 6.01 185.9
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415-585m 170,000 0.54 8.43 0.64 2.87 143.6
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Total 561,000 0.72 10.25 0.94 5.22 174.1
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Based on the high gold and zinc grades of the Scott Wilson RPA resources and on the preliminary cost estimates prepared by Met-Chem Canada Inc. (see Press release of June 2, 2006), the Company's management believes that parts of the Estrades resources may be economically attractive in light of the current outlook for metal prices, the existing access and surface infrastructure, and the fact that the deposit is already developed by ramp to a depth of 200 metres vertical. Considering the scope and results of the Met-Chem preliminary cost study, the portion of the indicated resources located above a depth of 415 metres and shown below are of immediate interest:



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depth tonnes %Cu %Zn %Pb g/t Au g/t Ag
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0-190m 54,000 0.88 13.06 1.35 7.64 196.0
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190-415m 337,000 0.79 10.71 1.02 6.01 185.9
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Total 391,000 0.80 11.03 1.07 6.24 187.3
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Consequently, the company has retained the services of engineering firm GENIVAR to undertake a full scale feasibility study on these resources. The purpose of the study is to determine mineable reserves/resources and make a detailed assessment of capital, operating costs, and cash flows that would be associated with the development and mining to 415 metres.

Cogitore President Gerald Riverin, Ph.D., P. Geo. stated: "While the Company intends to aggressively pursue exploration, the Estrades project has potential to generate important cash flows from small but high grade resources that could be quickly brought to production. Subject to the results of the study, any cash flow or royalties generated at Estrades could potentially support the Company's exploration activities for many years."

The Company has a strategic focus on base metal exploration in prospective areas that also feature infrastructure favourable for mining development. Accordingly, it focuses its work in the Abitibi Belt of Quebec and Ontario, and in the Central Belt of Newfoundland. More details on Cogitore's projects are available on the Company's web site at www.cogitore.com.

On Behalf of the Board of Directors

Gerald Riverin, President

Telephone: 819-764-6666

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cogitore Resources Inc.
    Gerald Riverin
    President
    (819) 764-6666