Mano River Resources Inc.
TSX VENTURE : MNO
AIM : MANA

Mano River Resources Inc.

April 22, 2009 09:00 ET

Mano River Resources Inc.: Gold Project Update (Liberia)

LONDON, UNITED KINGDOM--(Marketwire - April 22, 2009) - Mano River Resources Inc. ("Mano" or the "Company") (TSX VENTURE:MNO)(AIM:MANA) the TSX Venture Exchange ("TSX-V") and AIM listed exploration and development company focused on gold, iron ore and diamonds in West Africa is pleased to provide an update on its gold programme for 2009.

Highlights

- Bankable Feasibility Study ('BFS') for underground mine at New Liberty deposit targeting 100,000 oz pa to be completed during 2010

- Current resource of 1.4 Moz, (NI 43-101) 13.533Mt measured and indicated at 3.18 g/t gold

- Follow up drilling below 200m depth on zone with :

-- 23m grading 4.95 g/t gold (including 12m at 9.12g/t) and

-- 31m grading 3.59 g/t gold (including 17m at 7.03 g/t)

- Project Manager to be recruited to accelerate the development of New Liberty

- Initial 5,000m drilling programme planned for satellite deposits in close proximity to New Liberty

New Liberty gold deposit

The New Liberty deposit is a sub vertical shear zone hosted Archaean age gold deposit located in the Company's 25 year renewable Bea Mountain mining licence in western Liberia. The project currently has a NI-43-101 resource estimate of 1.4 Moz comprising 13.533Mt measured and indicated at 3.18 g/t gold. Results from a deeper drilling programme, undertaken by the Company in 2008, have not yet been included in the current estimate. These include intersections below 200m depth of 23m grading 4.95 g/t gold from 205m and 31m grading 3.59 g/t gold from 214m.

With the successful completion of the transaction with Severstal Resources on the Putu iron ore project in eastern Liberia, Mano plans to aggressively accelerate the development of its advanced gold projects in Liberia. The Company will now recruit a mining engineer as project manager responsible for overseeing the completion of a revised BFS for an underground gold mine at New Liberty. This is in line with the recommendations of a conceptual mining study undertaken by AMC Consultants (UK) Limited in September 2008 proposing two conceptual mining methods, namely sub-level open stoping or up-hole retreat stoping. The BFS will be undertaken by an independent firm of consultants with expertise in designing underground gold mines. An infill core drilling programme to depths of up to 300 metres is planned to commence at New Liberty in 2009.

In addition to advancing New Liberty, a follow up resource definition drilling programme will be undertaken on satellite gold projects in close proximity to New Liberty. The immediate focus will be the Weaju gold deposit, located 30km to the north east, where previous drilling intersections have included 19.63 g/t gold over 6m from 18m and 27.72 g/t gold over 6m from 47m.

Luis da Silva, President & CEO of Mano commented:

"We are extremely pleased with the progress made at the New Liberty Gold Project in western Liberia, which continues to demonstrate considerable potential. Our 2009 drill programme will be intensively focussed on strengthening Mano's gold portfolio through increasing confidence and expanding the resource.

"Following completion of the transaction with Severstal, we are now well placed to implement our strategy aimed at creating value through enhancing our overall resource base and developing our gold projects towards production."

Mano's Qualified Person responsible for preparing this release is its Director, Dr Tom Elder, who holds a BSc and Doctorate in Geology from the University of Durham in the UK, is a Fellow and former Member of Council of the Institution of Mining and Metallurgy of the UK, and a Fellow of The Geological Society.

For further information concerning the resource estimate disclosed herein, please refer to the news release of Mano dated October 24, 2006 or the Technical Report dated October 24, 2006 prepared by Dexter Ferreira and Pierre Fourie of Lower Quartile Solutions (Pty) Ltd. which are available at www.sedar.com.

For further information on Mano River Resources and its exploration programme, you are invited to visit the Company's website at www.manoriver.com.

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.

Contact Information

  • Mano River Resources Inc
    Luis da Silva
    CEO
    +44 (0) 20 7299 4212
    or
    Evolution Securities Limited
    Simon Edwards / Chris Sim / Neil Elliot
    +44 (0) 20 7071 4300
    or
    Pelham Public Relations
    Charles Vivian / James MacFarlane
    +44 (0) 20 7337 1500