Lithic Resources Ltd.
TSX VENTURE : LTH

Lithic Resources Ltd.

July 07, 2008 11:35 ET

Lithic Intersects 5.4 Metres of 10.02% Zinc and 10.13 Metres of 0.46% MoS2 at Crypto

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2008) - Lithic Resources Ltd. (TSX VENTURE:LTH) (the "Company") is pleased to report additional assay results for the Crypto project located in western Utah where zinc-copper-indium mineralization occurs as multiple skarns and replacement bodies hosted in a carbonate sequence near the contact with a high level felsic intrusive complex.

Hole C-08-09 was drilled from the same setup as C-08-06 but at a steep angle to the south, the objective being an approximate 50 metre step-out from mineralization encountered in holes C-08-06 and Cyprus hole CCC-12. Multiple zones of skarn-hosted mineralization were intersected, the better of which included:



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From To % % ppm ppm %
Hole (m) (m) Metres Zn Cu In Ag MoS2
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C-08-09 450.90 460.13 9.23 6.02 1.03 33.8 57.44 --
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incl 450.90 456.30 5.40 10.02 0.41 22.4 20.89 --
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C-08-09 517.25 522.72 5.47 8.66 0.18 14.6 7.74 --
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" " 525.80 527.07 1.27 9.50 0.60 22.9 38.10 --
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" " 548.21 551.00 2.79 3.55 0.51 95.3 13.34 --
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" " 586.59 596.72 10.13 0.17 0.01 13.6 0.71 0.46
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" " 710.85 725.73 14.88 -- -- -- -- 0.22
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The results for hole C-08-09 demonstrate lateral continuity of the Crypto deep sulphide zone to the southwest. The intercept at 586.59 to 596.72 metres is significant in that the molybdenum mineralization here occurs in skarn rather than intrusive. Other higher grade molybdenum-bearing intercepts not hosted by intrusive rock have been reported from historical drilling, suggesting that molybdenum may have been remobilized from a larger underlying porphyry system to which the skarn mineralization at Crypto is peripherally related. A second interval of molybdenite mineralization from 710.85 to 725.73 metres consists of variably clay-altered granodiorite with molybdenite occurring as fracture coatings and in quartz-pyrite stringers.

Hole C-08-08 was drilled steeply to the north from a point approximately 35 metres north of hole C-07-02 and was aimed at intersecting the extensions of high grade sulphide zones encountered in holes C-07-01 and C-07-02, closer to the central intrusive on the property. Although minor amounts of oxide zinc mineralization in skarn were encountered in the upper portions of this hole, it entered intrusive before reaching the potential extensions of those high grade zones, showing that the contact is somewhat to the south.

The program of drilling at Crypto was recently completed with a total of 10,407.87 metres (34,146.6 ft) having been drilled in 15 holes. Mine Development Associates of Reno, Nevada has been retained to prepare an updated resource estimate for the property and work to this end is already under way. The new resource estimate, along with preliminary metallurgical testwork, will be incorporated into a comprehensive NI 43-101 report expected to be completed later this year. A plan and/or selected sections illustrating the locations of holes reported to date are available at www.lithicresources.com.

Chris Staargaard, M.Sc., P.Geo., is the Qualified Person for Lithic and has reviewed and approved the contents of this news release.

LITHIC RESOURCES LTD.

C.F. Staargaard, President and CEO

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

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