Knight Resources Ltd.
TSX VENTURE : KNP
FRANKFURT : KRL

Knight Resources Ltd.

November 20, 2006 00:05 ET

Knight Resources Ltd.: West Raglan 2006 Program Results and Prelimianry Plans for 2007

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 20, 2006) - Mr. Harvey Keats, President of Knight Resources Ltd. (TSX VENTURE:KNP)(FWB:KRL), reports the results for the 2006 program on the West Raglan Project, northern Quebec. A total of 4,303 metres of BQ diamond drilling were drilled in 20 new holes, 1 deepened hole from 2004 and 1 metallurgical hole. The 2006 program focused on Century, Frontier South, Frontier Central and BT Zone, all within the Greater Frontier area.

Attached to this news release is an assay table (Table I) with details of the 2006 program holes (WR-06-108 to WR-06-127, deepened hole WR-06-69A and metallurgical hole WR-06-08M).

The 2006 Program resulted in a breakthrough in the three dimensional understanding of the complex geological picture in the Frontier area. Discrete mineralized lenses in restricted troughs at the base of steeply dipping ultramafic units have been outlined near surface at Century, Frontier South and Frontier Central. Limited drilling down-dip from known zones and in ultramafic units in the footwall of known zones has intersected mineralization and points to the potential for additional mineralized troughs at the base of ultramafic units. The objective of the 2007 program will be to discover new lenses down-dip and along strike at the base of numerous mapped and interpreted ultramafic units throughout the Frontier area. Down-hole pulse EM surveys will be an essential tool in this endeavour. An 8,000 metre drill program for 2007 is in the planning stage and is expected to cost approximately $4,500,000.

Century Zone

In 2006, 2,816 metres were drilled in 14 holes in the Century Zone.

WR-06-108 and WR-06-109 were drilled on section 443150E. WR-06-108 was drilled 40 metres down-dip of 2.16% nickel over 7.80 metres in WR-05-100 drilled in 2005. WR-06-109 was drilled 30 metres up-dip of the intersection in WR-05-100. There are no significant assays at the base of the upper ultramafic unit in WR-06-108, but there are two intervals greater than 0.5% nickel higher in the hole. There are no significant assays in WR-06-109. WR-05-100, WR-06-108 and WR-06-109 define a trough at the base of the upper ultramafic unit which contains the 2.16% Ni over 7.80 metres in WR-05-100. WR-05-100 intersected a second mineralized zone of 3.37% nickel over 1.40 metres. WR-06-108 is not deep enough to intersect the down-dip extension of the second mineralized zone but an attempt to deepen the hole was not successful. WR-06-109 did not intersect the up-dip extension of the lower mineralized ultramafic intersected 40 metres down-dip in WR-05-100.

WR-06-110, 111, 112 and 121 were drilled on Section 443100E (50 metres west of WR-05-100). WR-06-110, 111, and 112 outline the same trough at the base of the same ultramafic unit as outlined on section 443150E. WR-06-110 intersected disseminated mineralization in the trough with two intervals greater than 0.5% nickel (Table I). WR-06-111 and WR-06-112 were drilled at 30 metre intervals down-dip of WR-06-110. WR-06-111 intersected six intervals and WR-06-112 intersected three intervals with greater than 0.5% nickel, as shown in Table I. WR-06-121 was drilled to test for a second trough approximately 150 metres down-dip of WR-06-112, at the base of the same ultramafic unit. WR-06-121 intersected two intervals with greater than 0.5% nickel (Table I) but did not reach the base of the ultramafic unit.

WR-06-113 and WR-06-114 were drilled on section 443200E (50 metres east of WR-05-100) and down-dip of 1.62% nickel over 2.60 metres in WR-04-69 drilled in 2004. WR-06-113 intersected 1.39% nickel over 17.85 metres (including 2.58% nickel over 5.25 metres) at the base of the upper ultramafic unit 40 metres down-dip of the intersection in WR-04-69. WR-06-113 continued through a lower ultramafic unit into footwall basalt but intersected no mineralization in the lower unit.

WR-06-114 intersected the base of the upper mineralized ultramafic unit intersected in WR-04-69 and WR-06-113, approximately 25 metres down-dip of WR-06-113. The base of the upper ultramafic unit is anomalous in nickel but grades are less than 0.5% nickel. However, there is one narrow interval in the hole with grades greater than 0.5% nickel (Table I). WR-04-69, WR-06-113 and WR-06-114 define a mineralized trough at the base of the upper ultramafic unit with WR-06-113 located in the middle of the trough. WR-04-69, now designated WR-06-69A, was deepened to test the base of the lower ultramafic unit. Three intervals in WR-06-69A have grades greater than 0.5% nickel as shown in Table I. WR-06-114 drilled into the lower ultramafic unit but did not reach its base.

WR-06-122 was drilled on section 443175E (25 metres west of WR-06-113) to test for a second mineralized trough nearly 200 metres down-dip of the mineralized trough in WR-06-113. There is no concentration of sulphides at the base of the upper ultramafic unit, but there are four intervals within the upper ultramafic unit with grades greater than 0.5% nickel, including one interval of 1.54% nickel over 1.50 metres (Table I).

WR-06-115 and WR-06-116 were drilled on section 443250E (50 metres east of WR-06-113). The two holes, less than 20 metres apart, intersected the base of the upper ultramafic unit intersected by WR-06-113. The base of the upper ultramafic unit is weakly mineralized but assays are insignificant. The holes drilled into the lower ultramafic unit but did not reach its base.

WR-06-118 and WR-06-119 were drilled on section 443050E (100 metres west of WR-05-100). Both holes intersected a steep wall of the upper ultramafic unit (40 metres apart) that is well mineralized in WR-05-100 and WR-06-113. The interpreted trough in the ultramafic unit is down-dip of the two holes. The base of the ultramafic unit is weakly mineralized and assays are low. One interval in WR-06-119 averages 0.57% nickel over 3.00 metres.

Drilling at the Century Zone has outlined a trough at the base of a steeply north dipping, and north facing upper ultramafic unit that is greater than 50 metres and less than 150 metres in strike and plunge length, and approximately 50 metres in dip length. Two holes in the centre of the trough have attractive grades and thicknesses (WR-05-100 - 2.16% nickel over 7.80 metres drilled in 2005; WR-06-113 - 1.39% nickel over 17.85 metres, including 2.58% nickel over 5.25 metres). The best intersections are in portions of a westerly plunging trough where the plunge flattens, defining a confined three dimensional trough into which magmatic sulphides accumulated. Two holes (WR-06-121 and WR-06-122) were drilled to test for a second mineralized trough down-dip in the upper ultramafic unit. A down-dip trough has not yet been defined.

A second, lower ultramafic unit has been intersected below the upper ultramafic unit in the eastern portion of Century, pinching to 10 metres wide on section 443150E. However, 3D magnetic inversion indicates that the ultramafic continues to the west suggesting that the lower ultramafic is plunging westward. The lower ultramafic unit is mineralized in WR-05-100 (3.37% nickel over 1.40 metres) and in WR-06-69A (three mineralized intervals, Table I), but no restricted trough has yet been identified.

Frontier South

In 2006, 696 metres were drilled in 2 exploration holes and 1 metallurgical hole at Frontier South.

WR-06-120 was drilled on section 443363E. It was drilled to test for a second trough at the base of the upper ultramafic unit, down-dip of 3.04% nickel over 14.75 metres core length in WR-03-08 and to test the base of the lower ultramafic unit 200 metres below surface. The intersection in WR-03-08 occurs in a trough at the base of the upper ultramafic unit as defined by previous drilling. WR-06-120 did not intersect significant mineralization at the base of the upper or lower ultramafic units.

WR-06-125 was drilled on section 443338E (25 metres west of WR-03-08) to test an off-hole EM anomaly at the base of the lower ultramafic unit in WR-06-120. WR-06-125 intersected two intervals of greater than 0.5% nickel (Table I) at the base of the upper ultramafic unit including 1.73% nickel over 3.50 metres but did not intersect significant mineralization in the lower ultramafic unit. There is an off-hole EM anomaly in WR-06-125 down-dip at the base of the upper and the lower ultramafic unit suggesting mineralized troughs below the hole in each ultramafic unit.

WR-06-08M was drilled to twin WR-03-08 drilled in 2003. Whole core was sent by the operator to South Africa for metallurgical testing.

Drilling to date at Frontier South has outlined an irregular, westerly trending and flat to westerly plunging mineralized trough with dips from steep to flat lying. The trough occurs at the base of a steeply north dipping, and north facing upper ultramafic unit. The trough has a strike length of approximately 100 metres and a dip length of 50 metres to 100 metres. The best intersection to date is 3.04% nickel over 14.75 metres core length in WR-03-08 (true thickness unknown). Drilling has also identified a second lower ultramafic unit, unmineralized to date at Frontier South. However, the lower unit at Century is mineralized. Therefore both ultramafic units at Frontier South have potential for mineralized troughs at depth.

BT Zone

In 2006, 299 metres in 1 hole were drilled at the BT Zone. WR-06-117 was drilled on section 444500E to test a moving loop EM anomaly below WR-05-98 which intersected 0.67% nickel over 12.90 metres including 1.75% nickel over 1.00 metre in disseminated and blebby sulphides. No significant mineralization was intersected in WR-06-117 and the EM anomaly remains unexplained.

Frontier Central

In 2006, 491 metres in 4 holes were drilled at Frontier Central. WR-06-123 was drilled 40 metres down-dip of 4.16% nickel over 5.12 metres, including 11.83% nickel over 0.67 metres, in WR-03-16 drilled in 2003. WR-06-124 was drilled 30 metres up-dip of the intersection in WR-03-16. WR-06-123 and 124 did not intersect the down-dip or up-dip extensions of the mineralization in WR-03-16 but they did define a trough at the bottom of an upper, northern ultramafic unit which contains the mineralization in WR-03-16. The steeply dipping trough is less than 70 metres in dip length which explains why two early holes did not intersect the mineralization down-dip. Two additional lower ultramafic units to the south of the mineralized ultramafic in WR-03-16, are virtually unexplored. All three ultramafic units have potential for mineralized troughs at depth. The whole ultramafic complex at Frontier Central is steeply south dipping and north facing.

WR-06-126 was drilled on section 443925E, 150 metres east of WR-03-16 and 50 metres east of WR-03-14 and 15, drilled in 2003. WR-03-14 intersected 3.26% nickel over 8.75 metres, 20 metres below surface, at the base of an ultramafic unit interpreted to be the upper ultramafic unit in WR-03-16. WR-03-15 intersected 2.00% nickel over 2.70 metres, 50 metres down-dip of the intersection in WR-03-14. WR-06-126 was drilled to test a moving loop EM anomaly and intersected 2.06% nickel over 0.30 metres, 20 metres below surface, at the base of the ultramafic unit intersected in WR-03-14 and 15. If the lens in WR-03-14 and 15 is plunging shallowly westward, as at Frontier South and Century, the intersection in WR-06-126 may have intersected the up-plunge end of the lens intersected in WR-03-14 and 15. It is possible that the intersections in WR-03-14, 15 and 16 and WR-06-126 are part of a shallowly westerly plunging lens that has a strike and plunge length of greater than 150 metres and an unknown dip length. However, WR-03-16, WR-06-123 and WR-06-124 define a trough on section 443775E that is less than 70 metres in dip length. The lens is open down-dip of the intersections in WR-03-14, 15 and WR-06-126.

WR-06-127 was drilled on section 443700E, 75 metres west of WR-03-16, to test the western plunge of the intersection in WR-03-16 and to test a coincident moving loop EM anomaly. No significant mineralization was intersected and the EM anomaly is explained by a weakly mineralized volcanic unit. However the western extension of the mineralization in WR-03-16 is still open.

Supplementary Information

The 2006 field program was carried out by West Raglan Project operator Anglo American Exploration (Canada) Limited (AAEC). AAEC is the operator of the West Raglan Project and is responsible for the sampling and submittal of samples for assay. Assaying of 2006 samples reported in this news release was carried out and certified by ALS Chemex, of Vancouver, BC (nickel, copper, cobalt and sulphur (Total) by sodium peroxide fusion followed by ICP-AES) (Pb-FA for platinum, palladium and gold). Sample preparation was done by ALS Chemex of Val'Or, Quebec. Kerry Sparkes of the Company is the Qualified Person responsible for the technical information in this news release.

ON BEHALF OF THE BOARD OF KNIGHT RESOURCES LTD.

Harvey Keats, President



Table I

WEST RAGLAN PROJECT
2006 Diamond Drill Results

Century

---------------------------------------------------------------------------
Core
Len-
Angle/ gth
Hole UTM Location Direc- (met- Ni Cu Pt Pd
Number NAD 83 Zone 18 tion From To res) % %(ppb)(ppb) S %
---------------------------------------------------------------------------
WR-06- 6802735N 443147E - 75 45.50 51.50 6.00 0.57 0.2 87 349 1.87
108 degrees/ 56.00 57.50 1.50 0.53 0.2 81 320 1.74
180
---------------------------------------------------------------------------
WR-06- 6802720N 443147E - 45 No significant assays
109 degrees/
180
---------------------------------------------------------------------------
WR-06- 6802739N 443097E - 45 97.50 100.00 2.50 0.58 0.18 76 311 1.71
110 degrees/ 120.80 121.30 0.50 0.83 0.19 85 391 2.77
180
---------------------------------------------------------------------------
WR-06- 6802739N 443097E - 56 45.00 46.50 1.50 0.50 0.13 23 97 1.27
111 degrees/ 81.50 87.50 6.00 0.58 0.20 77 333 1.54
180 89.00 90.40 1.40 0.53 0.20 63 277 1.38
101.00 104.00 3.00 0.55 0.18 82 280 1.40
115.30 115.60 0.30 0.87 0.36 120 482 2.13
135.50 137.00 1.50 0.59 0.33 140 625 4.06
---------------------------------------------------------------------------
WR-06- 6802739N 443097E - 70 65.00 66.50 1.50 0.57 0.25 91 375 1.97
112 degrees/ 78.50 84.50 6.00 0.54 0.20 83 347 1.81
180 89.00 95.00 6.00 0.62 0.18 88 370 2.05
---------------------------------------------------------------------------
WR-06- 6802752N 443198E - 60 125.75 143.60 17.85 1.39 0.70 271 1031 6.31
113 degrees/
180
including 137.75 143.00 5.25 2.58 1.38 490 1890 13.21
---------------------------------------------------------------------------
WR-06- 6802752N 443198E - 70 52.20 53.00 0.80 0.51 0.26 77 341 1.79
114 degrees/
180
---------------------------------------------------------------------------
WR-06- 6802775N 443245E - 63 No significant assays
115 degrees/
180
---------------------------------------------------------------------------
WR-06- 6802775N 443245E - 53 No significant assays
116 degrees/
180
---------------------------------------------------------------------------
WR-06- 6802706N 443050E - 50 No significant assays
118 degrees/
180
---------------------------------------------------------------------------
WR-06- 6802706N 443050E - 66 80.00 83.00 3.00 0.57 0.21 65 250 1.53
119 degrees/
180
---------------------------------------------------------------------------
WR-06- 6802724N 443200E - 55 161.50 162.50 1.00 0.51 0.36 3 216 13.50
69A degrees/ 163.95 164.50 0.55 0.99 0.15 3 123 26.00
180 175.40 182.05 6.65 0.63 0.38 181 650 10.12
---------------------------------------------------------------------------
WR-06- 6802883N 443100E - 57 261.00 262.00 1.00 0.87 0.35 120 589 1.99
121 degrees/ 278.40 283.00 4.60 0.69 0.28 205 655 2.25
180
---------------------------------------------------------------------------
WR-06- 6802894N 443175E - 61 267.50 268.50 1.00 0.5 0.14 107 421 1.14
122 degrees/ 269.55 271.05 1.50 1.54 0.42 313 1355 3.44
180 277.50 279.00 1.50 0.51 0.13 101 377 1.50
285.00 288.10 3.10 0.65 0.17 144 499 1.74
---------------------------------------------------------------------------

BT Zone

---------------------------------------------------------------------------
Core
Len-
Angle/ gth
Hole UTM Location Direc- (met- Ni Cu Pt Pd
Number NAD 83 Zone 18 tion From To res) % %(ppb)(ppb) S %
---------------------------------------------------------------------------
WR-06- 6803101N 444508E - 50 No significant assays
117 degrees/
360
---------------------------------------------------------------------------

Frontier Central

---------------------------------------------------------------------------
Core
Len-
Angle/ gth
Hole UTM Location Direc- (met- Ni Cu Pt Pd
Number NAD 83 Zone 18 tion From To res) % %(ppb)(ppb) S %
---------------------------------------------------------------------------
WR-06- 6803081N 443775E - 50 No significant assays
123 degrees/
360
---------------------------------------------------------------------------
WR-06- 6803146N 443775E - 45 No significant assays
124 degrees/
360
---------------------------------------------------------------------------
WR-06- 6803121N 443926E - 45 29.20 29.50 0.30 2.06 0.36 276 1205 17.45
126 degrees/
360
---------------------------------------------------------------------------
WR-06- 6803000N 443697E -55
127 degrees/
360
---------------------------------------------------------------------------

Frontier South

---------------------------------------------------------------------------
Core
Len-
Angle/ gth
Hole UTM Location Direc- (met- Ni Cu Pt Pd
Number NAD 83 Zone 18 tion From To res) % %(ppb)(ppb) S %
---------------------------------------------------------------------------
WR-06- 6802859N 443366E - 55 No significant assays
120 degrees/
180
---------------------------------------------------------------------------
WR-06- 6802890N 443336E - 55 No significant assays
125 degrees/
180
---------------------------------------------------------------------------
WR-06- 6802711N 443358E - 90 Metallurgical hole - no assays available
08M degrees
---------------------------------------------------------------------------


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information