Mountain Boy Minerals Ltd.
TSX VENTURE : MTB

March 29, 2011 15:07 ET

Mountain Boy Minerals Ltd.: Press Release Clarification

STEWART, BRITISH COLUMBIA--(Marketwire - March 11, 2011) - Mountain Boy Minerals Ltd. ("Mountain Boy" or the "Company") (TSX VENTURE:MTB) reports it has received the final assay results for an additional 18 holes from the diamond drilling on the high grade gold bearing Montrose zone at its Red Cliff project in Northwestern British Columbia. The Red Cliff is a gold/copper property consisting of 8 Crown granted mineral claims situated in the Skeena Mining division approximately 25 miles north of the town of Stewart, British Columbia. The property is operated under joint venture and is owned 60% by Decade Resources Ltd. and 40% by Mountain Boy Minerals Ltd. At present, access is via drill roads off the paved highway 37A.

Highlights of the drilling include 7.1 m of 8.9 g/t gold in DDH-Mon-52.

Locally fine visible gold is associated with a stockwork of quartz-chalcopyrite-pyrite stringers occurring along a 30 metre wide shear zone. Strong disseminated and fracture filled pyrite mineralization as well as galena-sphalerite-chalcopyrite-visible gold form an envelope to the above stockwork mineralization.

At the end of the initial drill program, 8 holes labeled UMON1-8 were drilled near the 2009 drill holes. These holes were subsequently renamed DDH-Mon–27 to 34. Drill holes Mon-29 to 34 were drilled in the area of DDH-UMON-2010-1 (DDH-Mon-27) which intersected 149.2 Grams per tonne gold over 18.45 meters. Assay results for DDH-Mon 29 to 34 were released in a December 20, 2010 press release. Drill holes Mon-35 to 38 tested south of the above holes while holes Mon 39 to 49 tested an area west of the drilling on the Montrose zone. Drill holes Mon-51 and 52 were in the area of DDH-UMON-2010. The mineralization in the Montrose zone as outlined by drilling appears to be offset by en echelon northwest trending shears and narrow fault zones. Narrow quartz-chalcopyrite stringers oblique to the main mineralization and present just west of the Montrose zone were tested by holes Mon-39 to 50. No significant mineralization was encountered in these holes.

Assay results for these additional 24 holes are as follows:

DDH No.From (m)To (m)Width (m)Au g/tAg g/tCu %
DDH-Mon-29*48.4856.47.95.012.870.66
DDH-Mon-30*54.2757.323.052.771.110.03
and60.3761.130.763.6112.11.78
and63.4171.958.511.053.150.47
DDH-Mon-31*60.3786.3825.9110.944.520.22
including81.7184.763.0568.6324.90.72
DDH-Mon-32*82.6285.062.441.871.40.243
DDH-Mon-33*80.1885.064.874.283.160.06
and97.26108.210.984.913.370.19
and112.5127.2415.242.942.010.31
DDH-Mon-34*58.5463.875.354.472.690.25
and66.1679.8813.722.342.010.28
DDH-Mon-3571.9573.171.221.172.40.08
and81.0484.453.057.262.80.114
DDH-Mon-3672.5676.523.963.662.210.15
and86.6793.457.783.964.840.49
and101.5102.10.611.5911.31.9
DDH-Mon-3777.1378.661.525.571.70.04
and81.7184.763.051.050.50.01
and88.72102.714.025.114.710.38
DDH-Mon-38151.83154.883.05120.030.01
and165.24167.071.832.074.370.48
and171.95173.171.222.252.50.02
and174.5176.21.681.215.60.15
and178.41790.611.12.30.13
DDH-Mon-515.188.233.05142.90.04
DDH-Mon-5221.9528.967.018.94.170.67
* Previously released.

True width of the zones is unknown at this time. The company plans to model the drilling to date in order to guide any further drilling.

Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration program on behalf of the company. All samples are assayed by SGS Canada of Vancouver, BC.

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

    Mountain Boy Minerals Ltd.
    Ed Kruchkowski
    250-636-9232
    250-636-9233
    www.mountainboyminerals.ca