La Mancha Resources Inc.
TSX : LMA

La Mancha Resources Inc.

February 22, 2008 13:26 ET

La Mancha Intersects High Grades at Ity that May Lead to a Significant Resource Upgrade

All amounts are expressed in CA dollars, unless otherwise indicated

MONTREAL, QUEBEC--(Marketwire - Feb. 22, 2008) -

BEST INTERSECTIONS INCLUDE:

2.65 m @ 29.62 g/t Au from 1.05 m

10.65 m @ 6.93 g/t Au from 72.25 m

5.05 m @ 14.84 g/t Au from 20.60 m

2.36 m @ 14.78 g/t Au from 66.10 m

La Mancha Resources Inc. (TSX:LMA) ("La Mancha" or the "Company") is pleased to announce significant results from the first 23 diamond drill holes of a drilling program initiated in November 2007. Many high grade zones have been intersected, supporting the thesis that Ity's geological potential is still largely underestimated. These persuasive results suggest a possible increase in the Mount Ity reserve envelope that could extend the mine's current seven-year mine life.

During the first phase of the program, holes were drilled on the extension of the Mount Ity pit in the direction of the Tontouo deposit. As shown on Figure 1, a total of five lines were drilled on a 50 m grid, representing 23 drill holes totaling 1,657 m. Several high-grade zones were intersected, the best results being 2.65 m grading 29.62 g/t Au and 5.05 m grading 14.84 g/t Au, as shown in Table A. These values occur in mineralization similar to that of the current reserve envelope of the Mount Ity pit, as shown in Figure 2, which recently entered production. The full drill results are provided in Table A.

Michel Cuilhe, Chairman and CEO of La Mancha, said: "Obtaining results of this calibre with our first round of drill holes in Ivory Coast in five years shows the strength of the property's geological potential. We expect that the new exploration platform put together by La Mancha over the last few months for Ivory Coast and Sudan will generate many more significant results like these over the coming weeks. We are confident that the $10.6 million exploration budget approved for 2008 will have a significant impact on La Mancha's reserve and resource base before the end of the year."

Previous exploration activities conducted on the Ity property by the former owner date back to 2002. Shortly after acquiring the property, La Mancha reinstated exploration as a priority for mine development, which led to a new drilling program in November 2007. The objectives of this program are to evaluate the north eastern extension of the Mount Ity deposit and test the Walter anomaly, located one km from the current operations. A total budget of $3.7 million ($2.6 million attributable to La Mancha) was approved earlier this year for exploration in Ivory Coast in 2008. Of that amount, $2.1 million ($1.0 million attributable to La Mancha) has been allocated to the Ity Mine.

NEXT STEPS

The 7,000-m diamond drilling program will also test the Walter anomaly, located north of Tontouo deposit, and some of the extensions of the Flotouo-Zia pit. A resource update for Mount Ity will be carried out during the 3rd quarter of 2008, taking advantage of the temporary halt in drilling due to the rainy season.

LA MANCHA AT PDAC

The Company will be exhibiting at the PDAC in Toronto, March 2-5, 2008 in the South Building of the Metro Toronto Convention Centre. Michel Cuilhe, Chairman, President, and Chief Executive Officer, along with other members of the management team, will be present at Booth 3146. Mr. Cuilhe will also deliver a presentation in room 803 of the South building, on Monday March 3 at 5:00 p.m.

TECHNICAL NOTE

The technical information contained in this news release was prepared under the supervision of Jean-Jacques Kachrillo, the Qualified Person under NI 43-101. Mr. Kachrillo is Vice President Exploration and a full time employee of La Mancha Resources. He has sufficient experience in the style of mineralization and type of deposit to qualify as a Competent Person as defined in the 2005 Edition of "National Instruments 43-101, Standards of Disclosure for Mineral Projects". Based on his information, Mr. Kachrillo has consented to the content of this press release in the form and context in which it appears.

La Mancha has established an Analytical Quality Assurance Program to control and assure the analytical quality of assays in its gold exploration. This program includes the systematic addition of blank samples, pulp duplicates and internal material references ("standards") to each batch of samples sent for analysis. Blank samples are used to check for possible contamination in laboratory, duplicates allow the overall precision to be quantified while standards determine the analytical accuracy. All samples are half HQ (saprolite), and NQ (fresh rock) diamond drill core sampled on a one metre basis. Samples were assayed at Ity mine laboratories on the site, using 50g LeachWell cyanide leach, and 20 to 25g well leached attacks, followed by solvent extraction and flame AAS. The average true widths are more than 75% of the intersection length.

ABOUT LA MANCHA RESOURCES Inc.:

La Mancha Resources Inc. is an international gold producer based in Canada with operations, development projects and exploration activities in Africa, Australia and Argentina.

Via Cominor, its wholly-owned subsidiary, La Mancha Resources operates and owns 45.9% of the Ity mine through its interests in the Societe des Mines d'Ity, whose other shareholders are Sodemi (44%) and the State of Cote d'Ivoire (10%). The Ity mine started production in 1991 and has produced 0.7 M oz to date from Flotouo-Zia pit. The ore is processed by heap leaching.

La Mancha's shares trade on the Toronto Stock Exchange (TSX) under the symbol "LMA". For more information on the Company, please visit its website at http://www.lamancha.ca/.

FORWARD LOOKING STATEMENT

This press release contains certain "forward-looking statements", including but not limited to statements regarding the quantity of mineralization in place, the mineable character of the drill results, mining exploration risks, calculation and evolution of mineral resources, potential for additional resources, market price of gold, future work programs and objectives associated therewith, drill targets and anticipated results, interpretation of work results, development plans and anticipated timetables, in particular as regards the economic and technical potential for a mining and milling operation. Forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, environmental risks and hazards, uncertainty as to calculation of mineral reserves and other risks referred to in La Mancha's 2006 Annual Information Form filed with the Securities Commissions and the Toronto Stock Exchange.

Figure 1 is available at the following address: http://media3.marketwire.com/docs/figure_1_mancha.pdf

Table A is available at the following address: http://media3.marketwire.com/docs/table_A_mancha.pdf

Figure 2 is available at the following address: http://media3.marketwire.com/docs/figure_2_mancha.pdf

Contact Information

  • La Mancha Resources Inc.
    Martin Amyot
    Vice President, Corporate Development
    514-987-5115
    info@lamancha.ca