Jilbey Gold Exploration Ltd.

Jilbey Gold Exploration Ltd.

March 04, 2005 08:00 ET

Jilbey Gold Intersects 3.44g/t Au Over 14 Meters on Kindo Group Drilling


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: JILBEY GOLD EXPLORATION LTD.

TSX VENTURE SYMBOL: JLB

MARCH 4, 2005 - 08:00 ET

Jilbey Gold Intersects 3.44g/t Au Over 14 Meters on
Kindo Group Drilling

BEDFORD, NOVA SCOTIA--(CCNMatthews - March 4, 2005) - Jilbey Gold
Exploration Ltd (TSX VENTURE:JLB)

KINDO Group Drilling Results

Jilbey Gold Exploration Ltd ("Jilbey Gold" or the "Company") announced
the results of recent RC drilling on the strategically situated Kindo
Group of permits. The Kindo Group comprises four individual permits
located to the northwest of the Company's Bissa Hill deposit and east of
the Sega and Kalsaka deposits. The presence of active large scale
artisanal mining operations that reportedly produce significant
quantities of gold led the Company to acquire these permits. The work
program on the permits consisted of RC drilling to the test the strike
and depth extensions of these workings. Selected significant intercepts
are summarized in Table 1 below. The results of this initial drill
program demonstrate the potential to outline resources in this area. For
locations and a map of the area, please visit www.jilbey.com and either
download the press release or go to the Project Highlights section.



Table 1: Kindo Permit Group Program Summary
---------------------------------------------------------------------
Permit name Prospect # of RC holes Meters drilled Best intersection
---------------------------------------------------------------------
Yargo Zinigma 9 947 3.44 g/t Au / 14m
---------------------------------------------------------------------
Sakou Lagongo 6 627 1.62 g/t Au / 35m
---------------------------------------------------------------------
Tikare Badinogo 6 625 4.18 g/t Au / 3m
---------------------------------------------------------------------
Tikare Kilou 3 290 3.18 g/t Au / 3m
---------------------------------------------------------------------


The results from the Zinigma prospect (Yargo permit) include 3.44 g/t
over 14 meters, 3.96 g/t over 10 meters, 1.71g/t over 10 meters and 2.49
g/t over 8 meters. Eight of the nine holes were drilled on the principal
artisanal site along fences comprising 1 to 2 drill holes spaced 40m
apart over 160m of strike length. All of the holes intersected
significant gold mineralization. The zone is open along strike to the
east and west and down-dip. A ninth hole was drilled 500 meters to the
south at a smaller artisanal site and intersected 1.3 g/t over 1 meter.
A complete summary of significant results is contained in Table 2 below.

The Lagongo prospect (Sakou permit) also gave encouraging results. Three
fences comprising two holes each were drilled at 80m spacing along 160m
of strike length to cover two parallel zones of quartz veining. Results
include 1.62 g/t over 35 meters, 0.87 g/t over 19 meters and 6.20 g/t
over 3 meters. Once again, all of the holes intersected significant gold
mineralization and the mineralized zone is open in all directions. A
complete summary of significant results is contained in Table 3 below.

On the Tikare permit, the Badinogo prospect was tested with six RC holes
for a total of 625 meters. Four of the six holes drilled encountered
significant gold intercepts. Significant results include 4.21 g/t over 3
meters and 1.04 g/t over 5 meters. The remaining holes did not produce
gold assays in excess of 0.5 g/t. Also on the Tikare permit, three RC
holes were drilled at the Kilou prospect for a total of 290 meters.
Results of these included 3.18 g/t over 3 meters and 1.62 g/t over 3
meters. The remaining holes did not produce significant gold assays.
Detailed results from these prospects are included in Tables 4 and 5
below.

Regional soil and rock geochemistry surveys have been completed on
Kossouka, Sakou and Yargo permits while work is continuing on the Tikare
permit. The regional surveys will assist in planning follow-up of the
Zinigma and Lagongo prospects and will potentially define new areas.
Follow up on the Tikare prospect will also be considered. The drill
results from the Kossouka, on which 76 RAB holes were drilled totaling
3,040 meters, are expected shortly.

BISSA Project Update

Approximately 18,000 meters of RAB drilling designed to test geochemical
anomalies in the 4 kilometer portion of the Sabce Shear Zone between
Bissa Southwest and Gonglou has been completed. These assay results are
awaited. Drilling is currently underway on the one kilometer extension
of the Bissa Hill deposit announced in the recent press release dated
February 22, 2005.



Kindo Drill Results

Table 2: ZINIGMA prospect, Yargo permit
---------------------------------------------------------------------
Hole # Interval (m) Width (m) Grade (Au g/t)
---------------------------------------------------------------------
YZRC-001 46-53 7 1.74
---------------------------------------------------------------------
and 76-82 6 1.61
---------------------------------------------------------------------
including 1 6.8
---------------------------------------------------------------------
and 85-95 10 1.71
---------------------------------------------------------------------
YZRC-002 10-29 19 1.15
---------------------------------------------------------------------
and 58-68 10 3.96
---------------------------------------------------------------------
including 4 7.6
---------------------------------------------------------------------
YZRC-007 16-18 2 1.18
---------------------------------------------------------------------
and 43-48 5 1.03
---------------------------------------------------------------------
and 51-58 7 1.07
---------------------------------------------------------------------
and 65-76 11 1.29
---------------------------------------------------------------------
YZRC-003 66-76 10 1.65
---------------------------------------------------------------------
1 5.3
---------------------------------------------------------------------
YZRC-008 44-47 3 1.98
---------------------------------------------------------------------
and 50-51 1 1.17
---------------------------------------------------------------------
YZRC-004 53-54 1 2.51
---------------------------------------------------------------------
and 59-60 1 1.26
---------------------------------------------------------------------
YZRC-005 36-44 8 2.49
---------------------------------------------------------------------
including 1 6.2
---------------------------------------------------------------------
YZRC-006 24-38 14 3.44
---------------------------------------------------------------------
including 1 9.8
---------------------------------------------------------------------
including 1 7.8
---------------------------------------------------------------------



Table 3: LAGONGO prospect, Sakou permit
---------------------------------------------------------------------
Hole # Interval (m) Width (m) Grade (Au g/t)
---------------------------------------------------------------------
SLR-003 7-12 5 0.98
---------------------------------------------------------------------
and 17-21 4 0.86
---------------------------------------------------------------------
and 23-28 5 0.72
---------------------------------------------------------------------
and 33-37 4 0.90
---------------------------------------------------------------------
and 51-86 35 1.62
---------------------------------------------------------------------
including 1 8.84
---------------------------------------------------------------------
including 1 10.7
---------------------------------------------------------------------
and 89-92 3 3.79
---------------------------------------------------------------------
including 1 8.36
---------------------------------------------------------------------
and 104-108 4 1.22
---------------------------------------------------------------------
SLR-006 45-49 4 1.83
---------------------------------------------------------------------
and 55-60 5 0.78
---------------------------------------------------------------------
and 63-82 19 0.87
---------------------------------------------------------------------
SLR-002 6-7 1 1.63
---------------------------------------------------------------------
and 41-42 1 0.84
---------------------------------------------------------------------
SLR-005 0-3 3 0.71
---------------------------------------------------------------------
and 11-12 1 1.02
---------------------------------------------------------------------
and 14-16 2 0.70
---------------------------------------------------------------------
and 45-46 1 0.71
---------------------------------------------------------------------
and 56-57 1 3.03
---------------------------------------------------------------------
SLR-001 57-60 3 6.2
---------------------------------------------------------------------
and 76-80 4 0.88
---------------------------------------------------------------------
and 95-97 2 1.41
---------------------------------------------------------------------
and 132-133 1 0.77
---------------------------------------------------------------------
and 135-136 1 0.81
---------------------------------------------------------------------
SLR-004 12-17 5 0.97
---------------------------------------------------------------------
and 40-44 4 0.94
---------------------------------------------------------------------
and 49-51 2 0.85
---------------------------------------------------------------------



Table 4: BADINOGO prospect, Tikare Permit
---------------------------------------------------------------------
Hole # Interval (m) Width (m) Grade (Au g/t)
---------------------------------------------------------------------
TBR-002 30-31 1 0.81
---------------------------------------------------------------------
and 58-61 3 4.18
---------------------------------------------------------------------
and 86-87 1 1.45
---------------------------------------------------------------------
TBR-004 22-23 1 0.78
---------------------------------------------------------------------
and 28-29 1 2.49
---------------------------------------------------------------------
and 33-34 1 0.87
---------------------------------------------------------------------
and 39-44 5 1.04
---------------------------------------------------------------------
and 31-82 1 0.84
---------------------------------------------------------------------
85-86 1 0.52
---------------------------------------------------------------------
TBR-005 4-5 1 0.65
---------------------------------------------------------------------
and 33-34 1 0.75
---------------------------------------------------------------------
TBR-006 12-13 1 2.00
---------------------------------------------------------------------
and 74-75 1 0.99
---------------------------------------------------------------------



Table 5: KILOU prospect, Tikare permit
---------------------------------------------------------------------
Hole # Interval (m) Width (m) Grade (Au g/t)
---------------------------------------------------------------------
TKR-001 45-46 1 0.54
---------------------------------------------------------------------
and 51-54 3 3.18
---------------------------------------------------------------------
and 74-76 2 1.7
---------------------------------------------------------------------
and 82-85 3 1.62
---------------------------------------------------------------------
and 90-91 1 0.84
---------------------------------------------------------------------
and 102-103 1 0.92
---------------------------------------------------------------------
TKR-003 89-90 1 0.58
---------------------------------------------------------------------


Jilbey Gold's exploration licenses in Burkina Faso at Bissa/Kindo,
Taparko and Hounde cover approximately 1,900, 2,400, and 1,100 square
kilometers respectively, making it one of the largest license holders in
this highly prospective country.

Gregory Isenor P. Geo., President and CEO of Jilbey Gold Exploration
Ltd. stated, "we are very pleased with these initial results from the
Kindo Group which indicate the potential to develop resources in at
least two separate areas of the Kindo Group. The continuing success of
our early exploration on the Kindo Permits confirms our belief that we
can look forward with some confidence to further developing our
prospects at both Bissa and Kindo over the next several months."

Gregory Isenor P. Geo., President and CEO of Jilbey Gold Exploration
Ltd., a qualified person as defined under the Canadian Securities
Administrators' National Instrument 43-101, is responsible for program
supervision and confirms that there has been no change to the
Corporation's QC/QA procedures since the press release dated January 13,
2005.

The Corporation also wishes to announce that it has granted Bay Street
Connect 150,000 incentive stock options with an exercise price of $0.50
pursuant to the Agreement previously announced on February 22, 2005.
Both the options and the Agreement are subject to TSXV approval.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Jilbey Gold Exploration Ltd.
    Gregory Isenor, P Geo
    President and CEO
    (902) 832-5555
    (902) 832-2223 (FAX)
    or
    Jilbey Gold Exploration Ltd.
    Daniel Whittaker
    VP and CFO
    (902) 832-5555
    (902) 832-2223 (FAX)
    or
    Jilbey Gold Exploration Ltd.
    Alec Alipan
    Investor Relations
    (416) 907-0979
    alec@baystreetconnect.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.