Mountain Boy Minerals Ltd.
TSX VENTURE : MTB

January 19, 2011 14:52 ET

Mountain Boy Minerals Ltd.: Drilling Resumed to Extend High Grade Gold Zone Beneath Dunwell Mine

STEWART, BRITISH COLUMBIA--(Marketwire - Jan. 19, 2011) - Mountain Boy Minerals Ltd. (TSX VENTURE:MTB) ("Mountain Boy" or the "Company") reports that drilling has commenced at its wholly owned Dunwell Gold Mine. Drilling is being conducted to expand the area of mineralization on the previously announced discovery zone.

The primary purpose will be to test the potential for depth and strike extensions. Drilling will test between 170 and 260 metres below the lowest mining level to date. The mineralization that is from 6-10 metres in true width is open in all directions. The company hopes to expand the mineralization a minimum of 250 metres of length and 250 metres of depth. Breccia zones and quartz-sulphide veins are developed en echelon and adjacent to a major north striking, west dipping fault zone (West fault). The veins are commonly situated along one or both sides of parallel lamprophyre dykes which are up to 0.6 metres wide.

Significant results from 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.

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. Additionally, the relatively low elevation allows for year round exploration.

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