Monster Copper Corporation

Monster Copper Corporation

January 18, 2006 10:44 ET

Monster Copper Announces Assays and Airborne Survey Results, Labrador

RICHMOND HILL, ONTARIO--(CCNMatthews - Jan. 18, 2006) - Monster Copper Corporation (TSX VENTURE:MNS) (the "Company") is pleased to provide an update on exploration activities on its Labrador Properties. Monster Copper's Bruce River and Mustang Lake properties, which collectively cover 28,675 hectares and are located in the Central Mineral Belt of Labrador, are under option to Santoy Resources Ltd ("Santoy") (TSX VENTURE:SAN), who have provided this exploration update.

Program Highlights

- Drilling at Mustang Lake intersected several narrow mineralized zones, with a best intercept of 0.25 m of 0.26% U3O8 from the South Prospect.

- Drilling at Mustang Lake scheduled to resume in March, on 5 high priority targets recently defined from an airborne radiometric survey. Two of the newly defined targets are within 100 to 500 m of known mineralized zones at South Prospect and three occur at the interpreted up-ice head of the mineralized Irving Zone boulder train.

- Additional drill target defined by a radiometric Uranium anomaly near the head of the Mustang Lake East boulder train.

- At Bruce River, radiometric anomalies are being prioritized for follow-up field checking in 2006


The Mustang Lake property is located 8 km NE of the Michelin uranium deposit, where a historic resource ((i)see footnote) of 6.4 million tonnes of 0.13% U3O8 (18.3 million lbs. of uranium) has been identified. Three boulder trains were discovered on the Mustang Lake property by BRINEX in the late 1970's. These are the Irving Zone, where 117 boulders averaged 1.28% U3O8 (range 0.09 to 6.25%); the South Prospect, where 40 boulders averaged 0.55% U3O8 (range 0.02 to 3.5%); and Mustang Lake East, where 22 boulders averaged 0.1% U3O8 (range 0.02 to 0.6%).

Santoy has confirmed the existence and distribution of the three boulder trains by prospecting during the past field season. Santoy's best assays from grab samples of boulders in the boulder trains are 1.60% U3O8 from Irving Zone, 0.32% U3O8 from South Prospect and 0.46% U3O8 from Mustang Lake East.

Ten diamond drill holes totaling approximately 1500 m were completed on the property. Seven of these holes (1020 m) were on the Irving Zone, and three (480 m) at South Prospect. On the Irving Zone, although no mineralization was intersected, potentially significant magnetite-hematite-chlorite alteration and veining as well as hydrothermal albite alteration were noted in several of the holes. The South Prospect holes were targeted on the down-dip extension of the mineralization observed at surface, from which a grab sample from a radioactive outcrop assayed 0.07% U3O8. Each of the three holes intersected a number of narrow (less than 1 m length) widely spaced radioactive zones comprised of fractured, brecciated, hematized material, hosted in mafic dikes or at dike contacts. Results from the South Prospect drill holes are as follows:

Hole No. From (m) To (m) Interval (m) U3O8 (%)
SP-05-01 10.5 11.0 0.5 0.092
31.5 32.0 0.5 0.029
50.75 51.25 0.5 0.027

SP-05-02 43.45 43.75 0.3 0.030
127.20 127.35 0.15 0.049
131.87 132.12 0.25 0.26

SP-05-03 49.47 50.09 0.62 0.08
65.83 66.08 0.25 0.107
70.95 71.15 0.20 0.032
81.07 81.27 0.20 0.047

Drill hole SP-05-01 was targeted to test under the surface outcrop, while SP-05-02 tested the zone 50 meters along strike. SP-05-03 was located 50 meters down-dip of SP-05-01.

Prospecting and diamond drilling were conducted prior to obtaining the final results of a helicopter-borne radiometric/magnetic survey which was completed over both the Mustang Lake and Bruce River properties in the fall of 2005. The Company is very encouraged by the drill results from the South Prospect, which combined with the recently received airborne data, indicate that significant targets north of the drill investigated area remain to be tested.

On the Mustang Lake property, results of the survey indicate that the eU/eTh (Equivalent Uranium over Equivalent Thorium, which is used as an indication of the relative amount of hydrothermal uranium) shows five discrete anomalies within the Irving/South Prospect areas. These targets have not yet been drill tested. Three of the targets are approximately 1000 m up-ice (southwest) of the Irving Zone drilling while two of the targets are within 500 m (one target within 100 m) of the drilling that is reported in this news release on the South Prospect. An additional drill target has been defined by a eU anomaly near the head of the Mustang Lake East boulder train. The diamond drill remains on site, and it is anticipated that drilling will recommence on these newly defined targets in March as weather conditions permit.


On the Bruce River property, a significant number of radiometric anomalies have been identified and are currently being prioritized for follow-up field checking in 2006, as soon as weather conditions permit.

Anomalous uranium samples were collected from several areas on the Bruce River property, including:

Area Type U3O8 % Description
Sylvia Lake grab 2.720 Historical Shell trench #3; hematized
felsic pyroclastics with abundant
autonite on fractures
Sylvia Lake grab 0.678 Muck pile from blasted trench; hematized
felsic pyroclastics with autonite
coating fractures
Sylvia Lake grab 0.621 Historical Shell trench #2; Maroon felsic
Moran A grab 0.218 Sheared, gossanous and hematized
conglomerate with pyrite, malachite and
carbonate veins
Brown grab 0.104 25 meter area of red to brick-red hematite
stained rhyolite; multi-fractured to

Tentative plans for the Bruce River property for the upcoming field season include detailed follow-up prospecting and possible ground geophysics, with the objective of establishing targets to be drilled late in the field season.

The Qualified Person, as defined by National Instrument 43-101, responsible for review of this news release is Dr. Tom Setterfield, P.Geo., Vice-President of Exploration, Monster Copper Corporation.

About Santoy Resources Ltd.

Santoy Resources Ltd. ( is a junior Canadian energy company focused on exploration for uranium, coal and coalbed methane.

About Monster Copper Corporation

Monster Copper ( is dedicated to the discovery of world-class IOCG copper-gold-uranium deposits with an experienced IOCG exploration team. An IOCG area with recent discoveries of large copper-gold deposits is the Carajas Mineral Province in northern Brazil. Monster Copper has established itself in the Carajas by partnering with Noranda Exploracao Mineral Ltda. on the exploration of 10 separate mineral properties covering a combined area of 800 sq km.


Michael J. Downes, President, C.E.O. and Director

(i)The uranium resource referred to for the Michelin deposit (source: Government of Newfoundland and Labrador Mineral Deposits Database) is historical in nature. Since this historical estimate pre-dates and does not conform to the requirements of National Instrument 43-101, it should not be relied upon, however Monster Copper believes this historical estimate provides a conceptual indication of the potential of the area and is therefore relevant to the news release.

This news release may contain "forward-looking statements". These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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