Millstream Mines Ltd.

Millstream Mines Ltd.

March 11, 2008 09:00 ET

Millstream Tamarack Gold Property Underground Exploration Progress Report

TORONTO, ONTARIO--(Marketwire - March 11, 2008) - Millstream Mines Ltd. (TSX VENTURE:MLM)(FRANKFURT:NJD) is pleased to report that as a result of a recent ground geophysics magnetic survey over the Tamarack Property (see PR Nov 26, 07), six (6) potential targets have been identified. The surface decline is currently exploring in and around the smallest magnetic survey target area in which GoldField's TR-2 drill hole is expected to be located. Historic assay results provide the following returns from vertically drilled hole TR-2 (see PR Nov. 26, 07):

Drill Hole No. Down hole Width Gold Assay
Interval (ft.) (ft.) (m) (oz/ton) (g/t)

TR-2 50 to 150 100 30.47 .244 7.56
Including 70 to 90 20 6.1 .975 30.22
Including 105 to 115 10 3.05 .123 3.81

At 138 feet down the surface decline (Az 103 deg), a branch drift heading south (Az150 deg) was excavated. Within it was discovered a rich gold bearing zone (PR Feb 19, 07) apparently striking NE-SW and dipping West. Thereafter, the decline at 110 feet down from surface was directed northward on a spiral path to intersect at depth this discovered rich gold zone. The decline, while extending downwards at the westward turn, intersected a 3 ft wide LEAD-ZINC vein striking NE-SW, dipping East (assays pending on samples taken from the face). The decline continued westward through a fault striking NE-SW, dipping East and then through a porphyry. Hereafter, it entered into a rich gold bearing zone striking NE-SW and dipping West (see PR March 4, 08). This gold zone is approximately 27 feet below and 40 feet east of the zone discovered in the branch drift down the decline at 138 feet. Currently, a branch drift heading south is following the LEAD-ZINC vein while back in the decline, 15 feet of the gold zone has been exposed.

Management and the company consultants are of the opinion that the two (2) discovered gold zones are separate and most likely parallel each other. The decline will be continued westward in anticipation of intersecting the downward extension of the other gold zone.

Management has reviewed this report and press release with the company's consultant, Phil A. Brown, P.Geo, who is the designated qualified person for the property. All historical Goldfield assay returns were prepared and conducted by Chemex Labs Inc. of Nevada, USA.

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.

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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)