Everett Resources Ltd.

Everett Resources Ltd.

March 07, 2011 09:45 ET

Everett Resources Ltd. Appoints Garry Clark to the Technical Advisory Board as Menarik Enters New Phase

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 7, 2011) - Everett Resources Ltd. ("Everett") (TSX VENTURE:EAR) is pleased to announce the appointment of Garry Clark, P.Geo to the Technical Advisory Board of the Company, effective immediately.

Mr. Clark serves as Director and V.P. Exploration for Challenger Deep Resources Corp. and is President of Clark Exploration Consulting Inc. Mr. Clark is the Executive Director of the Ontario Prospectors Association (OPA). Garry has been a Director, Vice President or President of the OPA since its formation in the early 1990's. Mr. Clark currently serves on the Minister of Mines Mining Act Advisory Committee (Ontario) and the Ontario Geological Survey Advisory Board. He graduated with an HBSc (Geology) from Lakehead University Thunder Bay. Mr. Clark has held geological and Director positions with Major and Junior explorers, in addition to over 25 years of consulting experience. He brings to Everett extensive experience in managing large scale exploration and development programs in North America and internationally.

"I am very pleased to welcome Garry Clark to the Everett team of explorers. Garry brings a wealth of global and regional experience on key areas of importance for Everett" This appointments should truly enhance shareholder value." said Michael Waggett President of Everett Resources

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., (TSX VENTURE:EAR), visit our 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. Based on a compilation report by Pro-Or's geologist, Yvan Bussieres, five different types of mineralization have been indentified on the Menarik Property. The Menarik ultramafic intrusion contains stratiform chromitites formations, massive sulphides and nickel-copper concentrations in altered zones. A 43-101 compliant estimate of chromite resources made for Pro-Or in 2006 by the consultant group Roche from Quebec City and updated in 2009 by Yvan Bussieres, P.Eng. reports a total of measured and indicated resources exceeding 6.2 million metric tons grading on average 7.69% Cr2O3. Gold showings and mineralized felsic volcanics were found on the edges. The chromitite formations are similar to the South African Archean stratiform orebodies are similar to the Cadillac-Larder Lake Archean gold deposits and the mineralized felsic volcanics are similar to Noranda's Horne Mine.

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. Everett`s geological consultants recommend an exploration program, including drilling, to confirm the existence of uranium on the property. 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

Forward Looking Statements

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. Particular risks applicable to this press release include risks associated with planned production, including the ability of the company to achieve its targeted production outline due to regulatory, technical or economic factors. In addition, there are risks associated with estimates of resources, and there is no guarantee that a resource will have demonstrated economic viability as necessary to be classified as a reserve. There is no guarantee that additional exploration work will result in significant increases to resource estimates. The reader is referred to the Company's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through www.everettresources.com or the Company's page on SEDAR at www.sedar.com.

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.

Contact Information