Everett Resources Ltd.

Everett Resources Ltd.

April 13, 2011 09:38 ET

Everett Resources Completes VTEM Electromagnetic Airborne Survey on Menarik Property, Quebec

- VTEM Airborne Survey to provide high resolution and superior exploration depth of greater than 400 metres on Menarik Property, Quebec.

- Preliminary indicators from the survey suggest a number of significant conductive anomalies that may warrant further investigation.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 13, 2011) - Everett Resources Ltd. (TSX VENTURE:EAR) ("Everett") is pleased to announce that it has completed a helicopter-borne VTEM (versatile time-domain electromagnetic) geophysical survey over its Menarik polymetallic property ("Menarik" or "Property"), located in the James Bay area of the province of Quebec.

The VTEM airborne survey was carried out by Geotech Ltd. of Aurora, Ontario (refer to Everett Press Release February 24, 2011: http://bit.ly/NewsFeb24), to assist in locating potential mineralization on the Menarik and identify targets for Everett's ongoing drilling program. Geotech is in the process of interpreting the results from the survey which will identify any significant conductive anomalies (potential mineralization) encountered that will then be considered for follow-up ground geological investigation and/or diamond drilling. With the current instrumentation employed in the survey and the interpretive software available, Geotech will be able to rank in significance, and locate, specific conductors, resistivity depth anomalies, produce cross-sections and Maxwell plate modeling of the anomalies at progressive depths to determine any slope or dip, and the extent and pattern of the anomaly.

Please click http://bit.ly/EarVtem for a map of the Menarik VTEM.

The VTEM system is renowned for its excellent surface penetration to depths of greater than 400 meters, low base frequency for enhanced penetration in conductive ground cover and high spatial resolution which permits the spotting of drill targets directly off the maps of the anomalies. A total of 374.4 Line Kilometers (100m space.) were flown in the survey which was completed in late March, 2011.

Everett is still at an early stage of exploration on the Menarik Property. The compiled geologic and analytical results from exploration completed previously by Ressources Minieres Pro-Or Inc. ("Pro-Or") has identified that the large ultramafic intrusions on the Property contain stratiform chromitite formations, massive sulphides and nickel-copper concentrations in the altered zones. Gold showings and mineralized felsic volcanic were found on the edges. This VTEM survey was designed to target nickel-copper sulphide deposits hosted in mafic-ultramafic intrusions on the Property.

A panoramic view of the Menarik polymetallic property, which outlines the main areas of mineralization as well as additional defined areas of mineralization, can be seen on the Everett website at the following link: http://bit.ly/MenarikMap

A 43-101 compliant measured and indicated resource estimate of chromite was reported in 2006 by Pro-Or's consultant group, Roche, from Quebec City and updated in 2009 by Yvan Bussières, P.Eng. comprising a total exceeding 6.2 million metric tons grading on average 7.69% Cr2O3. The report can be found on SEDAR (www.sedar.com) or the Company's website at www.everettresources.com.

Qualified Person

Everett's program is being conducted under the supervision of, and the technical information presented in this press release has been reviewed and approved by, Yvan Bussières, P. Eng. Mr. Bussières is a qualified person as defined by National Instrument 43-101.

About Everett Resources Ltd.

Everett is a junior resource mineral exploration company with interests in two mineral properties, the Menarik located in Quebec and the San Juan Property located in New Mexico, U.S.A. To find out more about Everett Resources Ltd., visit Everett's website at www.everettresources.com.

The Menarik Property, Quebec

As set out in the joint news release issued by Everett and Pro-Or Inc. ("Pro-Or") on September 23, 2010, the Menarik Property is located in northwestern Quebec, approximately 45 kilometers to the south east of the town of Radisson. It comprises a contiguous group of 67 claims, for a total area of 3,062 hectares, fully owned by Pro-Or, free of any royalties. Pro-Or, to date, has incurred expenditures in the order of $6,900,000 on the Property.

The San Juan Property, New Mexico

Everett continues to hold and maintain its interest in the uranium prospective San Juan Property which is comprised of 496 mineral claims located in the San Juan Basin of New Mexico. The San Juan Property contains lands where earlier drilling by the U.S. Department of Energy encountered conditions consistent with those of other uranium occurrences identified in the area. With its current exploration focus on the Menarik Property, Everett may seek a joint venture participant to carry out an exploration program.


Michael Waggett, President

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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