Manson Creek Resources Ltd.
TSX VENTURE : MCK

Manson Creek Resources Ltd.

August 24, 2005 16:05 ET

Manson Creek Resources Ltd.: Copper Gold Palomino Property Acquired

CALGARY, ALBERTA--(CCNMatthews - Aug. 24, 2005) - Manson Creek Resources Ltd. (TSX VENTURE:MCK) ("Manson Creek") is pleased to announce the acquisition of a new grass roots copper gold porphyry project located 25 km east of Houston, British Columbia.

The Palomino property consists of 1,387 ha located in the Omineca mining district in North West British Columbia. The prospect is road accessible and located near favourable infrastructure.

Samples collected from the property during a recent due diligence property exam confirm historical sampling results with gold values ranging from 9.95 to 42.0 g/t and copper values to 0.23%.

The property contains a large overburden covered magnetic anomaly which has never been directly tested. The outcrop in the immediate area of the anomaly is a dark green to gray feldspar pheric andesite; they are highly magnetic and display variable epidote - calcite - feldspar alteration. Importantly, grabs of this outcrop have returned copper values of 0.23%. It is possible that this rock type could be the source of the magnetic anomaly.

Acquisition terms allow for a 100% interest to be purchased by Manson Creek over a 4.5 year period for a total consideration of $65,000 and the issuance of 425,000 Manson Creek shares. The payment for the first year will be $5,000, the issuance of 25,000 common shares of Manson Creek, and the reimbursement of assay costs (approximately $1,000). The property vendor will retain a 1.5% NSR (Net Smelter Royalty), 1.0% of which may be purchased at Manson Creek's election for $1,000,000.

This transaction is subject to all required regulatory and exchange approvals.

"Regan Chernish"

Regan Chernish, P. Geol.

President and Director

All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization and reserves, exploration results and future plans and objectives of Manson Creek Resources Ltd. These risks and uncertainties include, but are not restricted to, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological data and the interpretation thereof and the need for adequate financing for future exploration and development efforts. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

No Canadian Stock Exchange has approved nor disapproved of the information contained herein.

Contact Information

  • Manson Creek Resources Ltd.
    Regan Chernish
    (403) 233-0464