SOURCE: FIRST NARROWS RESOURCES CORP.

August 15, 2005 09:08 ET

First Narrows Defines 0.6 Milligal Gravity Anomaly Associated With MegaTEM Anomaly MR1 on Middle River Property

Geophysical Results Suggest That MR1 Is a Buried VMS Deposit

VANCOUVER, BC -- (MARKET WIRE) -- August 15, 2005 -- First Narrows Resources Corp. (TSX-V: UNO) ("First Narrows" or the "Company") is pleased to announce that the line 500N test ground gravity survey on its Middle River property has detected a 0.6 milligal gravity anomaly associated with an airborne MegaTEM II anomaly, MR1. The gravity anomaly is interpreted to represent a large mass of dense minerals, possibly a volcanogenic massive sulphide ("VMS") deposit, at depth.

MR1 is favourably located on the northern extension of Falconbridge's (formerly Noranda's) BMS#12 mine horizon. A world class VMS deposit, the BMS#12 mine has produced (1964 through 2004) 109,814,000 metric tonnes at 8.85%Zn, 3.48%Pb, 0.36%Cu and 102 g/t Ag.

"The two dimensional interpretive modeling of the MR1 magnetic and gravity anomalies suggests that the top of the geophysical feature is more than 200 meters below surface. The BMS#12 VMS deposit, which outcrops and extends to a depth beyond 1,500 meters, registered as a 1.0 milligal gravity anomaly (Geophysical Atlas, GSC Open File 3887), and therefore the MR1 gravity anomaly is interpreted as strong evidence for the presence of a dense mass similar to a VMS deposit," commented Mr. Albert Vickers, P.Geo., First Narrows' Consulting Geophysicist.

MR1 lies adjacent to and stratigraphically below the Middle River gold targets currently being drilled. The Company expects to commence drilling on MR1 following completion of the gold target drill program.

The Middle River property is located in the Bathurst Mining Camp, 18 km west of the City of Bathurst, New Brunswick. First Narrows either owns, or has the right to own, a 100% interest in the 763 claims that comprise the Middle River property. Mr. Arthur Hamilton, P.Geo., is the Company's Qualified Person on the Middle River Project. Mr. Hamilton was formerly Chief Mine Geologist for Noranda's Heath Steele Division.

About First Narrows Resources Corp.:

First Narrows Resources Corp. (TSX-V: UNO) is a Canadian mineral exploration company whose corporate strategy is to build shareholder value by finding and developing overlooked and undervalued mineral properties. Having assembled a balanced mix of gold, base metal and strategic metal properties, the Company's core focus is the advancement of the Chester Project and the exploration of newly recognized gold and VMS targets on the Middle River Property. The Company's exploration efforts are focused in the Bathurst Mining Camp, renowned for hosting several world-class VMS deposits. For more information visit: www.uno.ca

ON BEHALF OF THE BOARD OF DIRECTORS
"Peter K. Gummer"
Peter K. Gummer, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein. This news release may contain certain forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in our forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made.
First Narrows Resources Corp.
Suite 402 - 1228 Hamilton Street, Vancouver, BC, Canada V6B 6L2
Toll free: 866.285.5817 . Tel.: 604.677.5143 . Fax: 604.677.4702 .
Website: http://www.uno.ca

Contact Information

  • For Corporate, Media, or Investor Communications contact:
    Greg Lytle, Communications Manager
    First Narrows Resources Corp.
    Toll-free: (866) 285-5817
    Vancouver: (604) 839-6946
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