Mountain Boy Minerals Ltd.
TSX VENTURE : MTB

February 22, 2011 11:37 ET

Mountain Boy Minerals Ltd.: Mineral Claims Acquired Around the Historic Dunwell Mine Workings

STEWART, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2011) - Mountain Boy Minerals Ltd. (TSX VENTURE:MTB) ("Mountain Boy" or the "Company") is pleased to report the acquisition of a 100% interest in 4 claims totaling 162.88 hectares surrounding its wholly owned Dunwell property. The claims cover an area of potential structure extension of the Dunwell gold mine to the north as well as being the source of high grade gold-silver bearing boulders found on the Dunwell property. The consideration being paid for the four claims is $25,000.

Since the start of drilling last month, 11 holes directed at expanding the zones of mineralization, established in 2009 and 2010, have been completed in two different panels. Holes to date have intersected pyrite, sphalerite, galena and chalcopyrite mineralization within quartz breccia and brecciated argillite zones next to altered weakly mineralized dyke rocks. Mineralization forms zones ranging from 3 to 9 metres in width. Drilling is intersecting these zones between 170 and 260 metres below the gold mine's No. 4 level, the lowest level on which mining occurred during previous operations. This drilling has extended the zone 75 metres along strike over a dip extent of 260 metres. The mineralized zone 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 as it at a low elevation which allows 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 %
D4-10-09 215.55 222.26 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
D4-10-12 218.35 225.0 6.64 7.68 37.40 0.33 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 SGS Mineral Services 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 Ltd.
    Investor Relations
    604-681-0710
    or
    Mountain Boy Minerals Ltd.
    Ed Kruchkowski
    250-636-9232
    250-636-9233 (FAX)
    www.mountainboyminerals.ca