Millstream Mines Ltd.

Millstream Mines Ltd.

March 04, 2008 09:00 ET

Millstream Intersects 7.39 opt. Gold (229.83 g/t) in Exploration Drift at Tamarack Gold Property

TORONTO, ONTARIO--(Marketwire - March 4, 2008) - Millstream Mines Ltd. (TSX VENTURE:MLM)(FRANKFURT:NJD) is pleased to report that as a result of continued exploration in its underground decline at its Tamarack Gold Property, a new zone of gold mineralization has been discovered. The 10 ft. high by 10 ft. wide drift exposed a gold bearing zone in which an enriched gold seam measuring 10 feet across the mine face starting at 2 ft. wide (from highest to lowest point) on the right wall and narrowing to 1.5 ft. wide on the left wall. A CHANNEL SAMPLE TAKEN ACROSS THE 10 FT. WIDE FACE OF THIS ENRICHED SEAM RETURNED ASSAYS OF 7.390 OPT. (ounces per ton) AU or 229.83 g/t (grams per ton) GOLD, 0.66 opt. AG or 20.53 g/t SILVER. Furthermore, a panel sample of this 10 ft. wide x 10 ft. high mine face, including the rich gold seam with assays reported above, returned composite assays of 0.758 opt. Au or 23.57 g/t Gold, 0.48 opt. Ag or 14.93 g/t Silver, and 0.713% Copper. This panel sample was arrived at by cutting channels at one foot intervals along the mine face from top to bottom.

The newly discovered zone was encountered 516 ft. (157.27 m) down the decline and it was at this point that the above sampling was taken. Millstream has continued to extend the decline for at least another 12 ft. and at last report it was confirmed that the drift still remains in the heavily mineralized zone.

Sample preparation and analyses for this release were conducted by Norris Labs of Norris, Montana on samples supplied by Millstream. Phil Brown, P.Geo., consultant of Millstream, is the Qualified Person as described in National Instrument 43-101 for the Tamarack Gold Property. He has reviewed this report and press release with company management.

About Millstream Mines Ltd.:

Millstream Mines Ltd. is a Canadian-based mineral exploration company whose principle objective is to enhance and develop known mineral properties to production potential. The Company has active projects in the Province of Ontario, Canada and in the State of Montana, USA. The company's main focus continues to be the 100% owned Potter Mine Property. This past producing property is host to copper-zinc-cobalt "stacked" mineralized zones located in the highly prolific Abitibi Greenstone Belt and more specifically in the Kidd-Munro Assemblage near the town of Matheson in north eastern Ontario. It is the company's ambition to fulfill drilling requirements necessary to estimate a NI 43-101 compliant resource.

63,051,707 SHARES ISSUED

Date: Mar. 4, '08

Mar. 3, '08 Close: $0.22

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Millstream seeks safe harbour with regard to forward looking statements.

Contact Information

  • Millstream Mines Ltd.
    Mr. Ernest Harrison, EM
    (705) 474-7282
    (705) 474-5491 (FAX)
    Millstream Mines Ltd.
    Mr. Marty Martinello, B.A.
    (705) 474-7282
    (705) 474-5491 (FAX)
    Millstream Mines Ltd.
    Mr. Robert Chase, B.A., CFA
    (416) 368-9595
    (416) 368-6827 (FAX)