Millstream Mines Ltd.
TSX VENTURE : MLM

Millstream Mines Ltd.

April 05, 2006 09:43 ET

Millstream Finds Preliminary Results From Koval Gold Property Encouraging

TORONTO, ONTARIO--(CCNMatthews - April 5, 2006) - Millstream Mines Ltd (TSX VENTURE:MLM) wishes to announce that consultant Phil A. Brown, P. Geo., qualified person, confirms that the current Koval Gold Property diamond drilling has established the downward continuity, below the 250 ft. exploration level, of the exposed surface mineralized vein (#1); and has discovered additional quartz mineralized veins east of the #1 Vein.

Seven (7) drill holes totalling 3,710 feet have been completed with visual examination of the mineralized intervals being very encouraging. All drill core is being transported to North Bay for detailed analysis, logging, sampling and assaying to be done.

To assist the exploration program, the Company retained the services of Insight Geophysics Inc. to carry out a geophysical I.P. (Chargeability/Resistivity) survey over selected areas of the Koval Property. The results have indicated a multitude of favourable targets which will be the focus of follow-up exploration programs on the property.

The Koval Property is located in the Savant Lake area of north-western Ontario. Millstream holds a 100% interest in the Koval Property.

Koval Gold Property Highlights

In 1934, considerable trenching was done on the main vein over a strike length of 1100 feet. From this exposure a bulk sample was taken over 159 feet and an average width of 2.11 ft. The sample consisted of 12 tons and was sent to the Dept. of Mines, Ottawa, for a mill test. It returned an assay of 0.455 ozs of gold per ton.

An exploration shaft was sunk to a depth of 275 feet with levels established at 125 and 250 ft. Two ore shoots have been developed on the 125 ft. level, underneath the surface showing from which the 12 ton sample was taken, and which checks with this sample. This ore appears over a length of 125 feet and an average width of 30 inches. The second ore shoot appears on the northern extension of the vein at a point where no values were found on surface with a length to date of 25 ft. and a width of 3 feet.

In sinking the shaft the vein was found at a depth of 205 feet, where it dipped into the shaft. A bulk sample in the shaft, over a vertical depth of 8 feet and a width of 33 inches, returned 0.83 ozs per ton gold. The ore continued in the shaft until the 250 ft. level was reached. Drifting to the south from the shaft shows that the shearing is a great deal more pronounced on this level than on the level above, with commercial values having been found over a width of 44 inches. A drift was driven to the north which picked up the vein north of the shaft. The vein averaged 3 feet in width and free gold was found along it for a distance of 60 feet."

The principle objective of Millstream Mines Ltd. is to enhance and develop known mineral properties to production potential.

WARNING: The company relies upon litigation protection for "forward-looking" statements.

Apr. 4, 2006 Close: $0.18

42,982,043 SHARES ISSUED

No regulatory authority or similar body approved nor disapproved the information contained herein.

Contact Information

  • Millstream Mines Ltd.
    Mr. Ernest Harrison, EM
    CEO
    (705) 474-7282
    (705) 474-5491 (FAX)
    or
    Millstream Mines Ltd.
    Mr. Marty Martinello, B.A.
    V.P.
    (705) 474-7282
    (705) 474-5491 (FAX)
    or
    Millstream Mines Ltd.
    Mr. Robert Chase, B.A.
    CFO
    (416) 368-9595
    (416) 368-6827 (FAX)
    info@millstreammines.com
    www.millstreammines.com