Mountain Boy Minerals Ltd.
TSX VENTURE : MTB

February 07, 2011 15:54 ET

Mountain Boy Minerals Ltd.: Drilling Extends High Grade Gold Zone Beneath the Historic Dunwell Mine Workings

STEWART, BRITISH COLUMBIA--(Marketwire - Feb. 7, 2011) - Mountain Boy Minerals Ltd. (TSX VENTURE:MTB) ("Mountain Boy" or the "Company") reports that drilling is continuing at its wholly owned Dunwell Gold Mine. Since commencing the program, 9 holes have been completed and were directed at expanding the area of mineralization near the previously announced discovery zone. The holes have intersected zones 3 to 9 metres wide, containing pyrite, sphalerite, galena and chalcopyrite mineralization within quartz breccia and brecciated argillite zones next to altered weakly mineralized dyke rocks. Drilling is intersecting these zones between 170 and 260 metres below the No 4 level which is the lowest mined level. This drilling has extended the zone 50 metres along strike over a dip extent of 260 metres. Mineralization is open in all directions.

The Dunwell Gold Mine is a former producing gold mine, located 7.5 kilometres northeast of Stewart BC, 2 kilometres off paved highway 37A. The property has excellent infrastructure being at a low elevation allowing for exploration year round.

Significant results from some of the 2010 drilling are as follows:

DDH No. From (m) To (m) Length (m) Au g/t Ag g/t Pb % Zn % Cu %
D4-10-9 215.55 222.26 6.71 14.27 37.81 0.25 0.63 0.02
D4-10-10 216.77 221.95 5.18 5.31 62.4 0.52 0.80 0.03
D4-10-11 217.07 222.93 5.85 4.74 55.88 0.09 0.72 0.02
D4-10-12 218.35 225 6.64 7.68 37.40 0.330 0.90 0.02
D4-10-15 208.84 213.14 4.3 15.62 42.0 0.04 0.40 1.44

Core intersection widths are interpreted as being true width given the dip of the mineralized zone.

Core is being logged and assay results will be released upon receipt.

Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of exploration on behalf of the company. All assaying is being carried out by Assayers Canada in their Vancouver facilities.

About Mountain Boy Minerals

Mountain Boy Minerals Ltd. is a Canadian based mineral exploration company with diverse property and resource holdings around the Stewart region in British Columbia's golden triangle. It owns 30% of the Silver Coin project, a gold-silver-base metals project that is having a new 43-101 compliant resource calculated. The Company is also exploring silver-base metals on its American Creek and Bear Valley properties as well as copper-gold on their Stewart area claims.

ON BEHALF OF THE BOARD

"Ed Kruchkowski"

Ed Kruchkowski, Director

"This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Contact Information

  • Mountain Boy Minerals Ltd.
    Investor Relations
    604-681-0710
    or
    Mountain Boy Minerals Ltd.
    Ed Kruchkowski
    250-636-9232
    250-636-9233 (FAX)
    www.mountainboyminerals.ca