International KRL Resources Corp.
TSX VENTURE : IRK

International KRL Resources Corp.

November 07, 2006 09:00 ET

International KRL Intersects Copper in Four of Nine Holes at Nor

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 7, 2006) - International KRL Resources Corp. (TSX VENTURE:IRK) today announced the results of its preliminary diamond drill program at the Nor IOCG project in the Yukon.

Highlights include Hole 009-06 which intersected 20 m of 0.25% Cu (including 7 m of 0.32% Cu) and Hole 005-06 which intersected 2 m of 0.9% Cu (including 1 m of 1.6% Cu) and 5 m of 0.6% Cu (including 3 m of 0.7% Cu). Nine holes were drilled. Copper mineralization was intersected in four. Results are provided below. The priority uranium targets will be tested this coming season.

The most significant intersection from a geological perspective came from Hole 009-06, which was the last hole drilled in the 2006 field season. As the drilling continued, the geological model was further clarified and the drilling was focused accordingly towards the contact of the Wernecke Breccia and the Proterozoic Fairchild Lake Group Rocks. The model is analogous to the Olympic Dam where mineralization is concentrated on the contacts represented by a change of alteration. Hole 009-06 was the most successful outcome of this exercise. In addition, Hole 005-06 intersected the highest grades of 0.9% Cu over 2 m (including 1.6% Cu over 1 m) and 0.6% Cu over 5 m (including 0.7% Cu over 3 m). The intersections from this hole confirmed the surface soil geochem results. The mineralized fraction is a very distinctive zone in the entire geologic package. Please refer to the maps at www.krl.net under Nor project.

"As previously reported by news release dated September 7, 2006, mineralization and alteration is evident over the entire property. These preliminary results have provided valuable information, which has increased our understanding, our drill positioning and our priority targets for next season," said Mike Hibbitts, P.Geo, Vice President-Exploration. "This project is massive in size and scale and the Company has just scratched the surface of the potential of this project. The Olympic Dam deposit model continues to be the best fit for evaluating the Nor project," he added.

International KRL has doubled its claim block at its Nor IOCG project in the Yukon from 236 claims to 448 claims. The property now covers 23,127 acres (9,363 hectares). The claims were expanded to secure additional ground surrounding the area of interest and the geophysical expression of the Wernecke Breccia.

Additionally, the Company has been negotiating with several drill companies to secure contracts for next season to continue its geological and economic evaluation of the project.

Nor is located on the east side of the Richardson Mountains in the Yukon Territory, approximately 395 km north of Dawson City. The project bears striking geological, geochemical and geophysical similarities to the Olympic Dam type IOCG deposit in Australia.

Michael Hibbitts, P.Geo, Vice President Exploration is the Qualified Person for this property.



NOR Diamond Drill Results 2006

---------------------------------------------------------------------------
HOLE_NO FROM From TO To WIDTH WIDTH %
(Depth, m) (M) feet (M) feet (M) feet Cu INTERCEPTS
---------------------------------------------------------------------------
NOR-001-06 No significant
(74.06m) intercepts.
---------------------------------------------------------------------------
NOR-002-06 14 45.9 15 49.2 1 3.3 0.21
(196.7m) --------------------------------------------------------------
115 377.2 116 380.5 1 3.3 0.36
--------------------------------------------------------------
120 393.6 121 396.9 1 3.3 0.11
--------------------------------------------------------------
176 577.3 177 580.6 1 3.3 0.13
--------------------------------------------------------------
184 603.5 190 623.2 6 19.7 0.14
---------------------------------------------------------------------------
NOR-003-06 No significant
(471.65m) intercepts.
---------------------------------------------------------------------------
NOR-004-06 No significant
(91.40m) intercepts.
---------------------------------------------------------------------------
NOR-005-06 109 357.5 111 364.1 2 6.6 0.9 Including 1m @
(259.10m) 1.6% Cu.
--------------------------------------------------------------
114 373.9 126 413.3 12 39.4 0.1 Including 2m @
0.2% Cu.
--------------------------------------------------------------
143 469 155 508.4 12 39.4 0.2 Including 1m @
0.5% Cu.
--------------------------------------------------------------
161 528.1 163 534.6 2 6.6 0.2
--------------------------------------------------------------
189 619.9 194 636.3 5 16.4 0.6 Including 3m @
0.7% Cu.
--------------------------------------------------------------
220 721.6 235 770.8 15 49.2 0.2 Including 4m @
0.3% Cu.
---------------------------------------------------------------------------
NOR-006-06 No significant
(199.60m) intercepts.
---------------------------------------------------------------------------
NOR-007-06 108 354.2 109 357.5 1 3.3 0.17
(210.67m) --------------------------------------------------------------
114 373.9 118 387 4 13.1 0.23 Including 1m @
0.40% Cu.
--------------------------------------------------------------
127 416.6 128 419.8 1 3.3 0.25
--------------------------------------------------------------
134 439.5 135 442.8 1 3.3 0.11
--------------------------------------------------------------
167 547.8 172 564.2 5 16.4 0.17 Including 1m @
0.29% Cu.
---------------------------------------------------------------------------
NOR-008-06 No significant
(104.88m) intercepts.
---------------------------------------------------------------------------
NOR-009-06 5 16.4 25 82 20 65.6 0.25 Including 7m @
(87.50m) 0.32% Cu.
---------------------------------------------------------------------------


Assaying for the Nor project was completed by Acme Analytical Labs of Vancouver, B.C. A 15-gram sample was leached with 90 ml 2-2-2 HCL and HNO3-H2O at 95 Degrees Centigrade for one hour and analyzed by ICP-MS. Internal standards and external standards as well as blanks and duplicates were included as part of the program.

For more information on the property portfolio and International KRL Resources Corp. please visit www.krl.net, www.sedar.com and www.sec.gov websites.

ON BEHALF OF THE BOARD

Seamus Young, President and CEO

Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • International KRL Resources Corp.
    Seamus Young
    President and CEO
    (604) 689-0299 x.223
    Email: syoung@krl.net
    or
    International KRL Resources Corp.
    Michael Hibbitts
    Vice President, Exploration
    (604) 689-0299 x.228
    (604) 689-0288 (FAX)
    Email: mhibbitts@krl.net
    Website: www.krl.net