Kirrin Resources Inc.
TSX VENTURE : KYM

Kirrin Resources Inc.

December 08, 2010 08:00 ET

Kirrin Resources Announces New Program at Grevet REE Project

CALGARY, ALBERTA--(Marketwire - Dec. 8, 2010) - Kirrin Resources Inc. (TSX VENTURE:KYM) today announced a new geophysical interpretation program at its Grevet REE project in northwestern Quebec. The new interpretation program is scheduled to complete by the end of January 2011 and it is expected that its results will form the foundation for the planned 2011 exploration program at Grevet. 

Kirrin announced favourable sampling results from the Grevet REE project earlier this year (news release September 21, 2010). These included 14.27% TREO in a grab sample from a newly discovered carbonatite showing and confirmed the potential of the Grevet REE property to host REE-bearing carbonatite deposits with LREO grades of definite interest. Grevet is close to infrastructure, with a Provincial road providing direct access, a CN railroad line transecting the property, and power available 30 km southwest at Lebel-sur-Quevillon.

The new program will comprise geophysical interpretation of the ground magnetic data from the 2001, 2002 and 2010 surveys in order to define the trends of magnetic carbonatite and other magnetite-bearing rocks, and especially to search for large continuous potentially REE-bearing blind carbonatite bodies. In addition, it will include geological integration of historic exploration and other geological data with the geophysical interpretation of the ground magnetic data, with the overall intent being to refine target selection and define the specific follow-up program of work at selected targets in 2011.

Reg A. Olson, Ph.D., P. Geol. is the designated Qualified Person for Kirrin on the Grevet REE project.

Additional information relating to Kirrin is available on Kirrin's web site at www.kirrinresources.com and on SEDAR at www.sedar.com.

Kirrin is engaged in uranium and rare earth element exploration in Newfoundland & Labrador, Quebec and Saskatchewan and in the expansion of its portfolio through acquisition, merger, strategic partnership and joint venture. Its strategy is well defined: enhancing shareholder value by combining technical expertise, corporate development skills and professional management. Kirrin's shares trade on the TSX Venture Exchange under the symbol KYM.

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Forward-looking information: Except for statements of historical fact, all statements in this news release including, without limitation, future plans and objectives of the Company are forward-looking statements which involve risks and uncertainties. Specifically, this press release contains forward-looking statements concerning the expected completion date and anticipated use of the announced geophysical interpretation program. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those expressed or implied by such forward-looking information and undue reliance should not be placed on it. The anticipated completion date assumes the volume of work has been accurately estimated by the Company's consultants and the anticipated use of such interpretation assumes that the results will be sufficiently clear to provide definition and support for the next stage of Grevet exploration. In each case the risk factors that could cause actual results to vary from results expressed or implied by the forward-looking statements contained in this press release are primarily events beyond Kirrin's control. These forward-looking statements are made as of the date hereof and except as required by applicable securities legislation, the Company undertakes no obligation to publically update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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