SOURCE: Little Squaw Gold Mining Company

September 11, 2007 06:00 ET

Little Squaw Cuts High-Grade Gold in Chandalar Trenching

SPOKANE, WA--(Marketwire - September 11, 2007) - Little Squaw Gold Mining Company (OTCBB: LITS) ($0.91) ("Little Squaw" or "the Company") exposed high-grade gold mineralization during an excavator trenching program on the Pallasgreen prospect on the Company's wholly owned Chandalar, Alaska, mining property. The trench cut a 30-foot-wide structure that assays 11.43 ppm (parts per million) gold, or 0.333 ounces gold per short ton.

Thirty feet represents the approximate true width of the Pallasgreen structure. Continuous five-foot-long rock-chip samples were taken across the structure at a depth of about ten feet by an independent professional geologist. The 11.43 ppm gold represents the weighted average of the sample results, which is skewed by one five-foot sample assaying 59.2 ppm (1.727 ounces gold per short ton). The structure is composed of a strong fault zone in schist containing clay fault gouge, several sulfide-bearing quartz veins, and breccia composed of iron-stained quartz shards embayed in limonite.

Geologic mapping with magnetic and soil sample surveys show the mineralization to be at least 400 feet long within a structure potentially a mile or more in length. This discovery lies within a large grassy meadow underlain by frozen soil (permafrost). Two additional trenches were attempted to cut strike extensions of the structure, and will be completed once the permafrost thaws.

The Pallasgreen prospect is only one of more than thirty-five gold prospects on the Company's 23-square-mile claim block. Several of these prospects are the source of the gold in the promising placer gold deposit the Company is currently drilling on Little Squaw Creek (see the Company's press releases of August 23 and September 10, 2007). In conjunction with the drilling, the Company has been engaged in an extensive trenching program using its own excavator to sample many of these gold showings. Some of the trenching is designed to explore for disseminated, bulk-tonnage-style mineralization that may be associated with the big structures. Forty-one trenches aggregating approximately one mile in length were dug with more than 500 rock-chip channel samples collected.

Rodney Blakestad, Vice President Exploration of Little Squaw, said: "The Pallasgreen samples are among the first trenching assay returns, and we are delighted that they identify a marvelous future drilling target for us."

Rodney Blakestad and Richard Walters, President of Little Squaw Gold Mining Company, are responsible for this news release. For additional information regarding Little Squaw Gold Mining, contact Susan Schenk, Manager of Investor Relations, by telephone at (509) 535-6156, or by e-mail at ir@littlesquawgold.com. Little Squaw maintains a comprehensive Web site at www.littlesquawgold.com.

Little Squaw Gold Mining is engaged in the business of precious-metals discovery. This endeavor carries certain risks that are commensurate with the potential rewards of such efforts. These risks cannot be quantified and should not be taken lightly. All statements made here regarding the firm's investment potential should be considered "forward-looking statements" as defined by prevailing regulatory guidelines. As forward-looking statements, these items represent the measured professional judgment of management. They do not, however, represent guarantees, and unforeseen and/or unforeseeable future developments may render them either incomplete or incorrect. Actual results, plans, programs, and financial performance may differ materially from express or implied forward-looking statements.

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