Kria Resources

Kria Resources

March 02, 2009 08:00 ET

Kria Resources Announces Resource Estimate for Stratmat Property

TORONTO, ONTARIO---(Marketwire - March 2, 2009) - Kria Resources today announces an initial National Instrument (NI) 43-101 compliant mineral resource estimate for its Stratmat Property located near Bathurst, New Brunswick. The results are:

- the Inferred Mineral Resource is estimated to be 5.52 million tonnes grading 6.11% zinc, 2.59% lead, 0.40% copper and 54.21 grams per tonne (g/t) silver using a 5.0% zinc equivalent cut-off grade.



Table 1. Stratmat Property Inferred Resource Estimate - 5% ZnEQR Cut-Off

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ZnEQR Zone Tonnes Zn EQ (%) Zn (%) Pb (%) Cu (%) Ag (g/t)
Cut-Off
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10 266,800 7.07 5.20 2.17 0.32 60.59
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15 215,700 6.65 5.03 2.67 0.36 28.06
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20 1,474,000 8.41 6.33 2.53 0.34 62.57
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21 106,100 7.44 5.98 2.86 0.07 44.71
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22 139,400 8.17 5.99 2.77 0.26 60.67
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5% 25 676,100 6.92 5.20 2.49 0.36 40.40
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30 157,200 7.61 6.22 2.16 0.21 45.91
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40 836,700 9.58 7.13 3.14 0.41 64.49
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45 88,400 10.25 7.45 4.07 0.74 44.53
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50 737,800 8.65 6.48 2.68 0.60 39.55
-------------------------------------------------------
51 826,200 7.55 5.56 2.13 0.45 60.76
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Totals 5,524,500 8.16 6.11 2.59 0.40 54.21
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Kria's future plans for the Stratmat Property include a further review of historical data, potentially additional drilling and the completion of a preliminary economic assessment to determine threshold economics and development scenarios.

Stratmat Mineral Resource Estimate

The Stratmat mineral resource estimate was completed by Wardrop Engineering Inc., a Tetra Tech Company (Wardrop), a consulting firm retained by Kria to complete the estimate in compliance with NI 43-101 standards and CIM definitions. The resource estimate has been reviewed and confirmed by Tim Maunula, P.Geo., Manager of Mining Technical Services of Wardrop. Christopher Moreton, P.Geo., formerly of Wardrop, conducted a site visit to the Stratmat Property from August 5-7, 2008. Both Mr. Maunula and Mr. Moreton are a Qualified Persons under NI 43-101.

The resource estimation procedures and classification used are summarized below and are described in detail in an NI 43-101 compliant technical report that is currently being prepared and will be posted on the Kria Resources website, www.kriaresources.com once completed. The mineral resource estimates are as of February 17, 2009.

Resource Estimate -- Procedures and Parameters

The resource estimate for Stratmat is based on 382 holes totaling 122,654 meters. The Stratmat estimate is based on historic data as no recent drilling has been completed on this property. The dataset used by Wardrop for the estimate was supplied by Kria and included drill hole collars, survey, lithology and assay tables (amongst others).

Wardrop reviewed and updated the geological model for each of the zones. The drill holes were coded based on a zinc equivalent (ZnEq) grade interpretation and cross-referenced with geology in areas with minimal information. Metallurgical recoveries of 89.7% for zinc, 72.0% for lead, 60.0% for copper, and 48.6% for silver were used in calculating the ZnEq. Wardrop capped assay values before compositing. A composite length of 1 metre (m) was used based on the average assay interval length. A minimum of three composites were used for grade estimation along with a maximum of six composites. A maximum of three composites were used from each drill hole.

The grade interpolation was based on Inverse Distance Squared (ID2) method. Validation models were also completed using a Nearest Neighbour (NN) interpolation method. The maximum search distance was 80 m to the nearest composite.

The Stratmat resource is categorized as an Inferred Resource because of uncertainty with data quality.



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Parameters Definition
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ZnEQ Uses Zn, Pb, Cu, Ag and Au values
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Pounds per tonne 2204.622
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Density (SG) Interpolated by inverse distance squared where
data available, otherwise 3.5 g/cm(3) used.
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Composite Assay Length 1.0 metre
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Block Model Size 3 m x 3 m x 3 m
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Interpolation Methods Inverse Distance Squared verified by Nearest
Neighbour
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Zn Cu Pb Ag Au
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Price(i) US$ US$ US$ US$ US$639.91
1.11/lb 2.75/lb 0.78/lb 11.70/oz
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Capping Level 29% 4% 18% 356.6 g/t 5.14 g/t
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No. of Values Capped 102 33 23 22 16
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(i)The metal prices are four-year moving averages (September 2004 to September 2008) taken from a database maintained by Wardrop.

Quality Control

The technical contents of this press release have been supervised and reviewed by Steve Davies, P. Eng., Vice President Operations of Kria and Dayle Rusk, P. Geo., Vice President Exploration of Kria, both of whom are Qualified Persons as defined under NI 43-101.

About Kria Resources

Kria Resources is a private base metal exploration and development company focused on high quality base metal assets including lead, zinc, copper and nickel. Kria's primary assets include the Ruttan copper-zinc sulphide project near Leaf Rapids, Manitoba and the Halfmile Lake and Stratmat properties near Bathurst, New Brunswick. A NI 43-101 compliant mineral resource estimate for the Ruttan Mine Project estimates inferred resources of 19.75 million tonnes grading 1.17% copper and 1.47% zinc using a 1.0% capped copper equivalent cut-off grade. Kria's Halfmile Lake property has a NI 43-101 compliant Indicated mineral resource estimate of 6.26 million tonnes grading 8.13% zinc, 2.58% lead, 0.22% copper and 30.78 g/t silver using a 5.0% capped zinc equivalent cutoff grade. Please visit our website at www.kriaresources.com for additional information.

Cautionary Note Regarding Forward-Looking Information: This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the future operating performance of the Company and its projects, statements regarding exploration prospects, the identification of mineral resources, realization of mineral resources, environmental liabilities, exploration expenditures, timing of future exploration, requirements for additional capital, government regulation of mining operations, title disputes or claims. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral prices; environmental liabilities and costs of compliance with applicable legislation; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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