Exall Resources Limited
TSX : EXL

Exall Resources Limited

May 31, 2005 08:30 ET

Exall Resources Limited: 2005 Summer Drill Program Started At Gold Eagle Mine Property

TORONTO, ONTARIO--(CCNMatthews - May 31, 2005) - Exall Resources Limited (TSX:EXL) and Southern Star Resources Inc. (TSX VENTURE:SSR) are pleased to report that a 3,000 meter drill program began on May 27, 2005 at the Gold Eagle Mine Property, Red Lake, Ontario.

The program is designed to further explore the Bruce Channel section of the Gold Eagle Mine Property. This area includes the postulated down dip extension of the Cochenour Willans Mine which produced over 1.2 million ounces (38,701 kg) of gold at an average grade of 0.538oz/ton (18.4 g/t). We are also targeting the Balmer assemblage under the centre of the Bruce Channel. Previous work by Southern Star and Exall has led to a new discovery in that area (see press release dated May 13, 2004) which continues to be a high priority target.

The 2005 Drill Program is for a minimum of 10,000 metres and a maximum of 25,000 metres. Approximately 8,000 meters were completed during the 2005 winter drill program.

The Gold Eagle Mine Property drill program is being carried out under the direction of Mr. John F. Whitton, P.Geo, the qualified person within the meaning of National Instrument 43-101. Mr. Whitton has reviewed the contents of this news release.

Exall Resources Limited is a Toronto Stock Exchange listed company that trades under the symbol EXL (S.E.C. registration #82-3535). Exall is active in gold exploration and development in Red Lake, Ontario, as well as oil and gas exploration, development and production from its properties in Alberta, British Columbia and Texas.

There are currently 56 million common shares issued and outstanding.

FORWARD LOOKING STATEMENTS:

The statements made in this News Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

Contact Information

  • Exall Resources Limited
    Stephen G. Roman
    Chairman, President and CEO
    (416) 368-3949
    http://www.exall.com