Strongbow Exploration Inc.
TSX VENTURE : SBW

Strongbow Exploration Inc.

March 27, 2006 17:12 ET

Exploration Update: Strongbow Acquires Moose Nickel Prospect, Hearne Channel Area, Northwest Territories

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 27, 2006) - Strongbow Exploration Inc. (TSX VENTURE:SBW) is pleased to announce it has acquired an option to earn a 75% interest in the Moose nickel prospect, Northwest Territories and to provide an update on the Wales Island diamond project in eastern Nunavut.

Moose Nickel Prospect

Strongbow has signed an agreement to earn a 75% interest in the approximately 5000 acre Moose nickel prospect located in the Hearne Channel area of the Northwest Territories, approximately 115 km east of Yellowknife and 35 km northeast of the Caribou Lake nickel prospect currently being explored by Kodiak Exploration Limited. The original Moose showing was discovered in 1998 and since that time has seen only limited exploration. Initial investigations of the prospect in 2000 and 2001 centred around a nickel/copper/cobalt mineralized zone covering an area of approximately 20 m by 7.5 m. Bedrock exposure in the vicinity of the showing is very poor, however limited mapping and associated petrographic work indicate that the best mineralization occurs within 0.4 m to 0.6 m wide zones located at or near the contact between altered granodiorite and gabbro units. Average assay values for six representative chip and bulk grab samples collected from the most heavily mineralized areas of the showing are 3.80% nickel (2.05% - 6.54%), 0.69% copper (0.07% - 2.95%), and 0.14% cobalt (0.08% - 0.26%). Petrographic studies indicate mineralization is composed primarily of pyrrhotite (55-60%) with up to 10% pentlandite.

Under terms of the option agreement, Strongbow may earn a 75% interest in the Moose prospect by making staged cash payments totalling $75,000 over a three year period and incurring exploration expenditures of $2 million over a 4 year period. Upon vesting at a 75% interest, the property vendor may elect to convert its 25% equity interest into a 2% net smelter returns royalty.

Plans are currently underway for a summer exploration program to include mapping, prospecting and airborne geophysical surveys. Mineralization at the Moose prospect appears to be associated with a linear magnetic anomaly that can be traced for over 3000 metres. Strongbow has commissioned the staking of additional mineral claims (approximately 15,000 acres) elsewhere in the area to cover several similar prominent linear magnetic features that are at least partially coincident with known outcroppings of ultramafic rocks. These outcroppings are not identified on government geological maps for the area but have been identified by consultants to Strongbow.

Exploration of Strongbow's gold and base metal properties is conducted under the supervision of David Gale, P.Geo. (BC), Vice-President of Exploration for Strongbow and a Qualified Person under NI 43-101.

Wales Island Diamond Project

During the 2004 and 2005 field seasons, Strongbow discovered ten kimberlite bodies on Wales Island, Nunavut, representing a new kimberlite field (See Strongbow news release SBW 05-14 from Sept. 15, 2005). Samples of fresh uncontaminated kimberlite material from nine of the ten bodies were submitted for microdiamond extraction by caustic fusion. Four of the nine sampled bodies (W1, W2, W1 North Dyke, and W1 Central Dyke) are confirmed as diamondiferous, as shown individually in the summary table below.



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TOTAL DRY TOTAL NUMBER OF DIAMONDS PER SEIVE SIZE
BODY WEIGHT DIAMONDS (MM SQUARE MESH SIEVE)
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0.075 0.106 0.150 0.212 0.300 0.425
to to to to to to
(kg) 0.106 0.150 0.212 0.300 0.425 0.600
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W1 North
Dyke 22.63 1 0 1 0 0 0 0
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W1 Central
Dyke 40.94 1 1 0 0 0 0 0
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W1 353.94 2 0 1 0 1 0 0
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W2 194.6 3 0 1 1 1 0 0
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W3 8.17 0 0 0 0 0 0 0
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W9 14.11 0 0 0 0 0 0 0
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W10 15.39 0 0 0 0 0 0 0
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W47 65.17 0 0 0 0 0 0 0
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W111 9.11 0 0 0 0 0 0 0
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Total 724.05 7 1 3 1 2 0 0
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Exploration of the Wales Island project is governed by a joint venture agreement equally split between Strongbow, Stornoway Diamond Corporation and BHP Billiton. The joint venture partners are reviewing exploration results received for the project to date, however at the present time no further work is proposed. Stornoway is operator of the Wales Island project and exploration programs are conducted under the direction of Robin Hopkins, P.Geol. (NT/NU), a Qualified Person under NI 43-101.

STRONGBOW EXPLORATION INC.

Kenneth A. Armstrong, President and CEO


The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release.

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