Exall Resources Limited
TSX : EXL

Exall Resources Limited

September 21, 2005 10:00 ET

Exall Resources Limited: 21.68 g/t over 11.11 m '0.63 ozs/t over 36.45 feet' cut by DDH BC10-3 at Gold Eagle Mine Property, Red Lake, ON

TORONTO, ONTARIO--(CCNMatthews - Sept. 21, 2005) - Exall Resources Limited (TSX:EXL) and Southern Star Resources Inc. (TSX VENTURE:SSR) announced the following results of the latest drilling from the Bruce Channel Discovery on the Gold Eagle Mine Property, Red Lake, Ontario.

BC 10-3, which intersects the mineralized system above BC 10-1, continues the program aimed at obtaining further information on the large gold bearing area indicated by BC 10-1 and BC 10-2 (Press Release August 29, 2005). The drillhole was collared off a wedge inserted in BC 10-2 at a depth of 1134.50 metres. The final depth of this hole was 1584 metres at a lateral distance from the bottom of BC 10-2 of approximately 150 metres.

The interval from 1263.21 to 1266.96 metres (3.75 metres) runs 0.46 g/tonne. It is part of a brecciated chert unit noted from 1257.60 to 1268.32. When included with the other figures referred to above, the section from 1257.21 to 1268.32 runs 21.68 g/tonne over 11.11 metres (0.63 ozs/ton over 36.45 ft).



The significant results are as follows:

----------------------------------------------------------
Gold
Intersection --------------
(in Metres) Length Grams Ounces
------------------------------------- per per
From To Metres Feet tonne ton
----------------------------------------------------------
----------------------------------------------------------
1217.00 1219.88 2.88 9.45 4.19 0.12
----------------------------------------------------------
1257.21 1268.32 11.11 36.45 21.68 0.63
----------------------------------------------------------
Including 6.00 19.69 36.18 1.06 VG
----------------------------------------------------------
Including 0.42 1.38 190.77 5.564 VG
----------------------------------------------------------
Including 0.40 1.31 271.29 7.913 VG
----------------------------------------------------------
1266.96 1268.32 1.36 4.46 16.20 0.47
----------------------------------------------------------
Including 0.69 2.26 30.99 0.904
----------------------------------------------------------
1435.00 1435.80 0.80 2.62 4.49 0.13
----------------------------------------------------------
1442.85 1444.70 1.85 6.07 2.43 0.07
----------------------------------------------------------
1466.15 1467.56 1.41 4.63 27.07 0.79
----------------------------------------------------------
Including 0.71 2.33 52.45 1.53
----------------------------------------------------------
1476.00 1481.13 5.13 16.83 1.40 0.04
----------------------------------------------------------
1487.48 1493.08 5.60 18.37 3.41 0.10
----------------------------------------------------------
1498.64 1501.60 2.96 9.71 32.74 0.95 VG
----------------------------------------------------------
Including 0.36 1.18 255.08 7.44 VG
----------------------------------------------------------


Notes:

- VG - Visible gold

- Lengths reported are core intersection lengths and do not represent true widths. It is anticipated that true width estimates will be possible after additional drilling.

- Conversion: g/tonne x 0.0292 equals Troy ozs. / short ton.

A working stratigraphy is being developed across these zones of gold mineralization which is characterized by a sequence of metasediments with mafic volcanics. Several silicified sections with moderate to strong carbonate and biotitic alteration can be followed from BC 10-2 to BC 10-3. The area between BC 10-1 and BC 10-3 will require additional drilling to further define the structure.

Diamond drilling is continuing. A further hole infilling the area between BC 10-1 and BC 10-3 was abandoned due to problems with the drill rods. This hole has been restarted and is currently drilling. Results are expected during mid October. A second drill rig will be added by the end of October to increase the productivity of the drill program. Drilling is expected to continue during the freeze-up period.

Qualified Person

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.

Sample preparation and assay procedures are carried out by SGS Laboratories in Red Lake using standard fire assay method with AA finish and metallics.

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 its business of 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 66.9 million common shares issued and outstanding.

Contact Information

  • Exall Resources Limited
    Stephen G. Roman
    Chairman, President and CEO
    (416) 368-3949
    (416) 368-5146 (FAX)
    www.exall.com