JML Resources Ltd.

JML Resources Ltd.

March 02, 2005 09:31 ET

JML Resources Ltd.: Drilling To Test Zone 2 At Horwood Gold Property


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: JML RESOURCES LTD.

TSX VENTURE SYMBOL: JJJ

MARCH 2, 2005 - 09:31 ET

JML Resources Ltd.: Drilling To Test Zone 2 At Horwood
Gold Property

TORONTO, ONTARIO--(CCNMatthews - March 2, 2005) - JML Resources Ltd.
(TSX VENTURE:JJJ) announced today an update on drilling on the Horwood
Gold Property located approximately 80 km southwest of Timmins, Ontario.
The property contains favourable geology hosting surface gold
mineralization coinciding with extensive induced polarization (IP)
anomalies. Five (5) anomalies within a 4 km long grid have recently been
discovered by the Company. The on-going drill program will determine the
source of at least 2 of the 5 anomalies.

To date, 9 holes totalling 884 meters have been completed across a
strike length of 800 meters on Zone 1, where surface grab samples,
ranging from trace to 39.47 grams/tonne gold, were identified coinciding
with a 1.6 km long IP anomaly. Drilling has identified multiple
brecciated, carbonate-silicate-pyrite rich horizons within the host
Horwood Peninsula Pluton (HPP) which are interpreted to be the source of
the IP anomaly. Zones range from 5 to 16 meters wide and carry up to
15% sulphides as veinlets and disseminated grains within the host HPP.
Assay results from 3 of 9 holes returned only anomalous gold values
within the pyrite-rich zones. The maximum value yielded 2.40
grams/tonne gold across a width of 0.5 meter. Results for the
remaining six (6) holes are pending. Assays are being completed at
Expert Laboratory in Rouyn-Noranda, Quebec using conventional fire assay
techniques.

On-going drilling will now concentrate on Zone 2; a two km long IP
anomaly associated along a major stratigraphic contact between the HPP
and the overlying mafic/ultramafic volcanics. Drilling will concentrate
on a large, overburden covered, 300 meter by 200 meter IP chargeability
ovoid within Zone 2. Surface grab samples ranging from 7.37 to 40.45
grams/tonne gold were identified within this zone and were associated
with volcanic rocks in close proximity to the HPP.

Ken Lapierre P.Geo. (ON) is the Qualified Person for JML and has
reviewed the contents of this press release.

To find out more about JML Resources Ltd. (TSX-V:JJJ), visit our website
at www.jmlresources.com.

Shares Outstanding: 26,846,910

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    JML Resources Ltd.
    David Black
    Investor Relations
    1-416-203-1404
    1-416-368-1539 (FAX)
    investors@jmlresources.com
    The TSX Venture Exchange has not reviewed and is not responsible for the
    contents of this release.