Mantle Resources Inc.

Mantle Resources Inc.

October 18, 2006 04:00 ET

Mantle Acquires Claims in the Mt. Alcock Area, Northeastern British Columbia

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 18, 2006) - Mantle Resources Inc. (TSX VENTURE:MTS)(FWB:A0F7E1) (the Company) is pleased to announce that it has entered into a property purchase agreement pursuant to which it will acquire, subject to the acceptance of the TSX Venture Exchange, a 100% interest, subject only to a 1% Net Smelter Returns (NSR) royalty, in certain mineral claims located in the Mt. Alcock area of northeastern British Columbia in consideration of the payment of $75,000 cash and the issuance of 200,000 common shares of the Company. The Company has an option to purchase the entire NSR from the vendor for the sum of $1 million cash.

The property is located within the Omineca Mining Division, some 290 km north-northwest of the town of Mackenzie, and comprises 18 mineral claims (Dacha 1-10, Kwad 1-6, Dac, Dac 2) encompassing approximately 4,900 hectares. Peripheral and contiguous to the property, the Company has acquired, by staking, an additional 12 wholly-owned claims (Sassy, Sassy 2-12) totaling 3,478 hectares. The 30 mineral claims, encompassing a total of approximately 8,400 hectares, shall collectively be referred to as the Mt. Alcock Property.

Fine clastic sediments and carbonate rocks of the Ordovician-Lower Devonian Road River Group and the Upper Devonian Gunsteel Formation of the lower Earn Group underlie most the Mt. Alcock Property and occur within southwest dipping, imbricated thrust slabs. Exploration by a previous operator in the late 1980's identified a 20 meter wide body of stratiform barite mineralization containing bands of pyrite, galena and sphalerite hosted by the Gunsteel Formation. The best reported drill intercepts are 10.5 meters grading 6.8% combined zinc+lead and 23.3 grams silver/tonne, and 8.8 meters grading 9.30 % combined zinc+lead and 41.1 grams silver/tonne (including 3.6 meters of 14.2% combined zinc+lead).
The Cirque deposit, with a historical resource estimate in excess of 40 million tonnes grading 7.8% zinc, 2.2% lead and 48 grams silver/tonne, and the Akie deposit, currently being explored by the Company, are located in similar geological settings some 22 km and 45 km to the southeast, respectively.

"We are extremely pleased to have acquired this land package located within the highly prospective Gunsteel shale formation in the regionally extensive, world class Kechika Trough sedex zinc basin of northern British Columbia," commented Mr. Peeyush Varshney, President of Mantle Resources. "Along with the 65% interest we are earning in the Akie deposit, the Mt. Alcock Property gives us a strong position in an emerging premier zinc+lead district."

John R. Fraser, P.Geo. (BC) is the Qualified Person for the Company and is responsible for the technical information contained in this release.




The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

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