Mountain Boy Minerals Ltd.
TSX VENTURE : MTB

November 29, 2010 14:20 ET

Mountain Boy Minerals Reports 10.0 g/t Gold Over 37.5m, Including 39.4 g/t Over 7.5m at Silver Coin

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2010) - Mountain Boy Minerals Ltd. (TSX VENTURE:MTB) has been notified by its joint venture partner, Jayden Resources Inc. that additional results from the 2010 confirmation drilling program continue to encounter gold mineralization exceeding the average grade of the current NI43-101 resource, demonstrating the presence of a significant high grade component to the Silver Coin deposit.

Highlights of the new results include:

Hole ID From
(metres)
To
(metres)
Intercept
Length
(metres)
Au
(g/t)
Au
(oz/t)
Ag
(g/t)
Ag
(oz/t)
Zn
(%)
SC10-314B 193.5 196.5 3.0 1.10 0.032 3.05 0.09 0.30
SC10-317 1.0 85.5 84.5 1.95 0.057 8.20 0.24 0.40
including 1.0 15.0 14.0 5.89 0.172 22.26 0.65 1.30
including 3.0 6.0 3.0 14.49 0.423 45.40 1.33 3.45
SC10-318 129.5 135.5 6.0 1.59 0.046 3.48 0.10 0.02
SC10-319 110.0 157.9 47.9 7.99 0.233 8.20 0.24 0.11
including 116.0 153.5 37.5 10.00 0.292 9.71 0.28 0.12
including 144.5 152.0 7.5 39.41 1.15 30.94 0.90 0.21

Reportable intercepts defined as greater than 3.0m @ 0.30 g/t Au. Highlights limited to intervals exceeding 1.0 g/t Au. Hole SC10-314 was lost above the area of interest and re-drilled as hole SC10-314B. Hole SC10-323 had no reportable intercepts.

These new results are a part of the infill program from the 2010 drilling program, which was intended to provide confirmation of grade and continuity for ongoing resource studies and to begin developing an understanding of the distribution and geometry of the high grade zones. For a drill hole location map and a complete tabulation of the 2010 drill results, please click: http://www.jaydenresources.com/silver-coin/silver-coin-project-drilling-2010.html.

The 2010 drilling program consisted of 18 holes totalling approximately 2800 metres. To date, assays for 11 holes have been released and the Company expects to release results of the remaining 7 holes in the near future. The remaining holes are mostly step-out drill holes exploring for mineralization to the north of the current resource area.

Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, has reviewed this release on behalf of the Company. Drill intersections were calculated using a cutoff of 0.30 g/t Au, and are reported as drilled thicknesses. Work to determine true thicknesses of mineralization is ongoing. Individual samples below the stated cutoff grade of 0.30 g/t Au are occasionally included in the calculated drill intersections, but only to the extent that the average grade in any two adjacent samples remains above the cutoff. Drill samples were assayed by Inspectorate Exploration and Mining Services Ltd. (ISO9001:2008) in Richmond, B.C. for gold by fire assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 10.0 g/t were re-assayed and completed with a gravimetric finish. For these over-limit samples, the gravimetric data were utilized in calculating gold intersections. QA/QC included the insertion and continual monitoring of numerous standards and blanks into the sample stream. Samples were also analyzed for a 32-element geochemical suite using ICP-MS.

About Mountain Boy Minerals Ltd.

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 with a 43-101 defined 835,700 ounces gold in the measured and indicated category and 655,200 ounces in the inferred category. The Company is also is exploring silver-base metals on its American Creek and Bear Valley properties as well as copper-gold in their Stewart area claims.

ON BEHALF OF THE BOARD

Ed Kruchkowski, Director

"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