Everton Resources Inc.
TSX VENTURE : EVR

Everton Resources Inc.

November 09, 2006 08:30 ET

Everton Provides a Drilling and Exploration Update on Opinaca Blocks "A" & "B" in James Bay, Quebec

OTTAWA, ONTARIO--(CCNMatthews - Nov. 9, 2006) - Everton Resources (TSX VENTURE:EVR) and joint venture partner Azimut Exploration (TSX VENTURE:AZM) are pleased to provide an update on their 2006 exploration program and to release the results of the first phase of drilling on Opinaca A and Opinaca B in the Eleonore gold discovery region in James Bay, Quebec.

A recently completed six-hole 632 meter diamond drill program tested targets along the Inex Zone on Opinaca A and a two-hole 413 meter diamond drill program tested a geological model at the Claude Target on Opinaca B. The results from Opinaca B confirm mineralization similar to the Eleonore gold discovery and indicate a minimum 10-km long gold bearing structure along a North-East corridor between the Claude Target on Opinaca B and the Manuel Showings on Everton's 100%-owned Wildcat 5 property. The anomalous gold results associated with pervasive silica alteration and fine-grained arsenopyrite mineralization suggests that a major mineralized system has been identified. Based on the favourable mineralization and alteration, Everton Resources is planning an aggressive drill program commencing in February on the Claude Target on Opinaca B.

Claude Target - Opinaca B

Following the discovery of the Claude Target on Opinaca B (press release of September 28, 2006) where a sheared outcrop returned up to 5.62 g/t Au and several boulders located down-ice of the shear zone graded up to 35.98 g/t Au, Everton Resources has undertaken follow-up work consisting of a detailed prospecting program to determinate the geological context of the Claude Target and a 19-line-km induced polarization (IP) survey. Due to topographic constraints, the IP grid was placed 2.8 km away in the eastern extension of the Claude Target, along the northeast-trending deformation zone and over an airborne electromagnetic conductor. The IP survey confirmed the presence of numerous anomalous axis along strike showing a general orientation towards the direction of the Manuel Showing (12.01 g/t Au over 4.6 m) located on Everton's 100%-owned Wildcat 5 property. Furthermore, lake-bottom sediment gold and arsenic anomalies lined up along the deformation zone can be followed over a distance of 5-km on Opinaca B. Please visit the Properties section on Everton's website at www.evertonresources.com to see the location of the Claude-Manuel Corridor.

Everton Resources recently completed two drill holes totaling 413 m to test the geological model on the Claude Target. Drill-hole OP-06-07 was located to target the 5.62 g/t Au sheared outcrop. The entire drill-hole OP-06-07 is characterized by the presence of altered and sheared rocks containing a section of 40-meter wide moderate to strongly pervasive silicified zone within paragneissic and amphibolitic rocks, containing up to 10% disseminated fine-grained arsenopyrite, with minor pyrite and pyrrhotite and thin injections of microcline veinlets. The silicification zones are bounded by zones of biotitization, tourmalinization, epidotization containing a variable amount of garnets. These features are comparable with the geological context of the near-by Eleonore gold deposit.

Assay results from the 189-meter long hole OP-06-07 returned very anomalous gold values closely associated with the arsenopyrite content and silica alteration. The whole drill section graded 221 ppb over 186.8 meters, including a section of 1.0 g/t Au over 21.5 meters between 130.0 m and 152.5 m deep, including 1.4 g/t Au over 12 meters, including 4.6 g/t Au over 2.0 m. Several other intercepts grading between 1.0 g/t Au and 4.0 g/t Au over 1.0m to 3.0 m were cut outside the main silicified zone. Everton Resources plans to proceed with an aggressive drill program commencing in February 2007 on the Claude Target to find the core of the mineralizing system along the strike of the deformation zone. Everton Resources also plans to cover the extensions of the Claude Target with IP ground geophysics.

Inex Zone - Opinaca A

Further to the discovery of the Inex Zone located on Opinaca A (press releases of November 21, 2005 and August 23, 2006), Everton Resources proceeded with a follow-up exploration program along the 1.7-km long gold-bearing zone, consisting of detailed prospecting, the collection of 1,552 soil samples, 31.5 line-km of induced polarization (IP) ground geophysics and a 6-hole diamond drilling program to test some targets along the zone.

The IP and soil geochemistry survey carried out over the 1.7-km long gold-bearing Inex Zone demonstrated a strong correlation between IP conductivity axis, gold-in-soil anomalies and gold-mineralized outcrop, where values up to 50.9 g/t Au were returned. A six-hole drill program consisting of 632 meters to test coinciding anomalies was recently completed on the Inex Zone. The program confirmed that the IP anomalies correspond to biotite-rich horizons containing up to 5% pyrite-pyrrhotite within paragneissic rocks. The mineralization is also locally associated with garnet-rich silicified bands. Some visible gold grains were observed in the core.

The best results were obtained in hole OP-06-03 where 1.46 g/t Au over 4.0 m between 45.5 m and 49.5 m deep, including 3.03 g/t Au over 1.5 m. Some other isolated values grading up to 8.65 g/t Au over 0.6 meter were obtained in this hole. Additional significant isolated values of 1.07 g/t over 1.0 m were returned in hole OP-06-01, 9.03 g/t Au over 0.5 m in hole OP-06-02 and 3.69 g/t Au over 0.5 m in hole OP-06-05. Overall four of the six holes drilled along the Inex Zone intersected gold values over 1 g/t as well as metric intervals grading over 100 ppb Au. This program confirmed the presence of gold throughout the Inex Zone and the nugget effect of the gold grades. Everton Resources is currently reviewing the drill data from the Inex Zone in preparation for the next phase of work in 2007.

Smiley Target - Opinaca A (NEW)

During the winter 2007, Everton Resources will also conduct a 80-line-km IP survey over the Smiley Target, which is a new target located in the central part of Opinaca A, to follow-up on an extended gold-in-soil anomaly located only 5 km north of the Eleonore gold discovery. This soil anomaly is supported by the presence of gold values of 2.41 g/t Au, 0.77 g/t Au and 0.18 g/t Au from three different till samples collected down-ice of the soil anomaly. This target will be drill-tested during the summer 2007. Please visit the Properties section on Everton's website at www.evertonresources.com for the location of the Smiley Target.

Samples were assayed by fire-assay followed by gravimetry at Laboratoire Expert Inc. in Rouyn-Noranda, Quebec. Everton has set up an internal quality control procedure that includes systematic addition of certified standards and blank samples to every batch of samples sent to commercial laboratories.

This press release was prepared under the supervision of Marc L'Heureux, P.Geo., Everton's Vice- President of Exploration, who acts as the "Qualified Person" as described by NI 43-101.

Everton Resources is actively exploring in the Opinaca region of James Bay, Quebec where Everton Resources has amassed one of the largest land claims adjacent to the Eleonore gold discovery, and where Goldcorp Inc. (NYSE:GG)(TSX:G) is proposing to spend several hundreds of millions of dollars developing its recent property acquisition. Everton Resources is also actively drilling in the Dominican Republic adjacent to where the world's largest gold mining company, Barrick Gold (NYSE:ABX)(TSX:ABX), is partnering with Goldcorp to develop the 15 million ounce Pueblo Viejo gold deposit, one of the world's largest undeveloped gold deposits, at an estimated cost of $1.4 billion.

The TSX Venture Exchange neither approves nor disapproves of the information contained in this News Release.

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