Knight Resources Ltd.

Knight Resources Ltd.

June 22, 2009 09:01 ET

Knight Resources Ltd.: Surface Exploration Program Begins at West Raglan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 22, 2009) - Mr. Harvey Keats, Chief Executive Officer of Knight Resources Ltd. (TSX VENTURE:KNP)(FRANKFURT:KRL), reports that Anglo American Exploration (Canada) Ltd. has approved a $3.5 million dollar exploration program for nickel- copper- PGE mineralization on the West Raglan joint venture project in Northern Quebec to be conducted during the summer of 2009. The Company has decided not to fund its share of this program and will dilute from its current 49% interest in the Joint Venture to approximately 45% rather than suffer significant equity dilution as a result of current market conditions. However Knight is committed to the West Raglan Project and the potential for more discoveries.

The program will consist of surface geophysical surveys utilizing conventional EM, Squid EM and magnetic instrumentation in conjunction with geological and geochemical surveys on the extensive occurrences of ultramafic rocks that occur throughout the 710 square kilometre joint venture property. The objective of the program is to develop a pipeline of new drill-ready targets outside of the Frontier mineralized area. This entails 1) evaluating and surveying the ultramafic rocks within the 65 kilometre length of the Raglan trend covered on the West Raglan property and 2) investigating selected areas of ultramafic rocks in the Povungnituk group in the southern parts of the property.

Knight will continue to be actively involved with the program during this period of non-participation. The 2009 program has just begun.

General Information

The West Raglan Project is a joint venture between AAEC and Knight. The West Raglan Project in Northern Quebec covers over 710 square kilometres and includes approximately 65 kilometres of the Raglan Horizon along which extensive ultramafic rocks typically occur and a large area of the Povungnituk Group which also contains abundant ultramafic rocks. AAEC is the operator of the West Raglan Project and is responsible for the sampling, submittal of samples for assay and QA/QC. Robin Adair, VP of Exploration, is the Qualified Person responsible for the technical information in this news release.


Harvey Keats, CEO

Neither the 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 news release.

Contact Information