Explor Resources Inc.
TSX VENTURE : EXS

Explor Resources Inc.

April 20, 2007 15:47 ET

Explor Resources Inc.: Acquisition of the Launay Extension Property

ROUYN-NORANDA, QUEBEC--(CCNMatthews - April 20, 2007) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the acquisition 48 Mineral Claims situated in Launay Township in the Rouyn-Noranda mining district, province of Quebec.

Explor Resources inc. will pay $10,000 CDN and issue 500,000 common shares upon approval of regulatory authorities for an Option to acquire 100% interest in the Launay Extension property. The Optionee has retained a 2% NSR in the property. This acquisition is subject to regulatory approval.

THE PROPERTY

The Launay Extension Property is located in the North-eastern part of Launay township approximately 6 km from the town of Launay, Quebec. Excellent access is provided by a logging road that connects the Launay-Guyenne road to the property approximately 4.5 km from the town of Launay. The property consists of 48 mining claims covering an area of approximately 2036.66 hectares.

The most obvious topographical feature in the area is lake Doyon approximately 1.3 km to the west of the property as well as gently rolling hills consisting of outcrops and eskers. The property is contiguous to a large low grade nickel deposit that was once owned by Dumont Nickel Corporation and now by Royal Nickel Inc. The Royal Nickel Property consisted of 56 claims in Launay & Trecession Townships, 17 km west of Amos, with an indicated resource of 400,000,000 tons of grade of 0.325% Ni as reported in the Northern Miner Canadian Mines Handbook of 1988-1989 (Northern Miner, January 2, 1971 of 455,000,000 tons of 0.324 Ni). Royal Nickel Inc., a private company, is currently conducting a 10,000 meter drilling program on the property.

The mineralized zones are contained in ultra mafic rocks. In general, the geological structure is a serpentinized, magnetite bearing dunite containing olivine with pentlandite, azurite, millerite as nickel bearing minerals.

Explor plans on conducting a two phase exploration program. Phase I is designed to better determine the location of the structural targets via magnetic and VLF geophysics. Phase II will consist of diamond drilling the identified target or targets.

Chris Dupont P.Eng is the qualified person for Explor Resources Inc.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec and Saskatchewan. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of gold, 450,000,000 tonnes of base metal ore over the last 100 years. The Company is headquartered in Quebec and was incorporated in Alberta in 1986.

This press release was prepared by Explor Resources Inc. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Explor Resources Inc. is a public listed company trading on the TSX Venture (EXS).

Contact Information

  • Explor Resources Inc.
    Christian Dupont
    President
    800-388-8668 or 819-797-4630
    or
    CHF Investor Relations
    Jan Moir
    Vice President
    416-868-1079 x.237
    jan@chfir.com