MacDonald Mines Exploration Ltd.

MacDonald Mines Exploration Ltd.

March 24, 2010 10:53 ET

MacDonald Mines Signs Exploration Agreement With Webequie First Nation; Commences Drilling in Ring of Fire, James Bay Lowlands

TORONTO, ONTARIO--(Marketwire - March 24, 2010) - MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) ("MacDonald Mines" or the "Company") is pleased to announce it has completed the signing of an exploration agreement with the Webequie First Nation ("WFN") and commenced its 2010 exploration program in the Ring of Fire, James Bay Lowlands.

Five Year Exploration Agreement with Webequie First Nation

Richard Schler, the COO & CFO of MacDonald Mines along with key members of the management team responsible for exploration, operations and business development met with Chief Wabasse, council and the community on March 19, 2010 in Webequie.

A presentation outlining the Company's operating principles and exploration plans was given to the community in a town hall type meeting. The meeting concluded with the signing of an exploration agreement which replaced the existing agreement signed in December 2007, followed by a community luncheon. MacDonald Mines has been actively involved with the WFN since 2004 and looks forward to continuing the close working relationship it has established with the WFN. The agreement was modeled after the recent agreement signed between WFN and Tribute Minerals Inc.

Kirk McKinnon, President & CEO commented, " We would like to thank the Chief, council and the community for once again inviting us to meet with them in Webequie. The signing of this agreement is an indication of the continued mutual respect and trust between MacDonald Mines and the people of the WFN and demonstrates the Company's continued commitment in the region."

Details and terms of the agreement will be filed on SEDAR at

Targeting Chromite on Big Mac and Hornby Properties

Earlier this month, the Company conducted a gravity survey for chromite targets on its Hornby Property (jointly owned with Temex Resources) and it's 100%-owned Big Mac Property. Based upon the review of its land holdings and historic data, MacDonald Mines has begun a drill program concentrating on the chromite potential of both these properties. The drill program will focus on localized gravity anomalies in close proximity to magnetic highs. The budgeted drill program on the Big Mac and Hornby Properties will be approximately 1,200 metres and 1,600 metres respectively. 

Targeting Nickel and VMS on McNugget Property

MacDonald Mine's McNugget Property has been interpreted to host nickel sulphide (Ni-Cu-PGM) and VMS (Cu-Zn-Ag) targets of significance. The targets within the property have been prioritized (geological and geophysical evaluations) and a drill program on the McNugget Property will follow immediately after the current program on Big Mac and Hornby. The drill program is budgeted for approximately 4,400 metres of drilling including a borehole geophysical survey of all diamond drill holes ("DDHs).

A drill program was completed on MacDonald Mines Exploration's Big Mac West Property between Sept 20th and October 8th, 2009. A total of 1,081.6 metres of BTW sized drilling was completed in eight drill holes ranging from 82.3 metres to 235.2 metres in depth. While five of the holes intersected sulphide mineralization, these intersections are not interpreted to be sufficient to explain the observed geophysical response, and therefore it is not believed that these holes intersected the target(s) of interest. The remaining three holes intersected varying amounts of what is believed to be ferric chromite mineralization - "brown magnetite". These intersections will be re-analyzed using a chromium specific procedure along with an analysis for PGM concentrations.

Quentin Yarie, P.Geo., is the qualified person in regard to the technical data contained within this news release and will be responsible for overseeing all aspects of the Company's exploration programs.

About MacDonald Mines Exploration Inc.

MacDonald Mines is a mineral exploration company with an established history in the exploration of gold and base metals. MacDonald has set upon a strategic direction of exploration in the Canadian Northlands, with particular focus on the "Ring of Fire" in James Bay, Ontario, its joint-venture with Virginia Mines in Quebec and now the LaRonge area in Saskatchewan.

More detailed information is available on the website at

Cautionary Statement:

The foregoing information may contain forward-looking statements relating to the future performance of MacDonald Mines Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from MacDonald Mines plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by MacDonald Mines with the TSX Venture Exchange and securities regulators. MacDonald Mines does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • MacDonald Mines Exploration Ltd.
    Brent Nykoliation
    Vice President, Business Development
    (800) 818-5442 or (416) 364-4986
    (416) 364-2753 (FAX)
    MacDonald Mines Exploration Ltd.
    Kirk McKinnon
    President & CEO
    (800) 818-5442 or (416) 364-4986
    (416) 364-2753 (FAX)
    MacDonald Mines Exploration Ltd.
    Richard Schler
    Chief Operating Officer & CFO
    (800) 818-5442 or (416) 364-4986
    (416) 364-2753 (FAX)