Mukuba Resources Limited

Mukuba Resources Limited

September 27, 2010 08:00 ET

Mukuba Confirms Copper Mineralization From Ongoing Drilling at the Northcore Project, Zambia

TORONTO, ONTARIO--(Marketwire - Sept. 27, 2010) - Mukuba Resources Limited (TSX VENTURE:MKU) ("Mukuba" or the "Company") is pleased to announce that assay results from its ongoing drilling program on its Northcore Project continue to confirm copper mineralization. Mukuba plans to continue to focus its 2010 exploration program on various high priority targets within the larger exploration license area on the Northcore Project, located southwest of Ndola, Zambia.

Trevor Richardson, President and CEO of Mukuba Resources commented, "I am pleased with the results from the current intercepts of copper mineralization. They validate the presence of pervasive copper in the system and will assist our technical team in building a model to move toward and assess the potential for higher copper concentrations within the areas of targets 17 and 18. In addition to this area, various other targets are being tested with soil sampling and drilling."

The current drill core assay results were designed to test copper anomalies identified from the 2009 IP and soil sampling. A total of 5,283 metres (21 holes) of diamond drilling have been completed to date of the planned 10,000 metre drilling program. Analysis of the samples using a mixed, four acid digest with an AAS finish on the bulked solution is being carried out by SGS Mineral Services (Zambia) in Kalulushi. The laboratory is currently awaiting final accreditation following a further inspection in November 2010.

In addition, regional soil sampling across various new target areas within the larger license area has been completed and anomalous areas are being followed up with closer spaced soil grid lines to better delineate newly identified soil targets and it is anticipated that additional drill targets will be identified and selected based on the level of coincidence between the new soil geochemical survey and airborne geophysical results.

Assay results by target area include:

Target 17
Borehole From (m) To (m) *Interval (m) Cu (%)
NC024 5.80 7.00 1.20 0.12
  11.30 37.00 21.05 0.20
  46.00 47.00 0.87 0.13
  149.00 150.00 0.94 0.23
  195.00 196.00 0.64 0.11
NC026 103.00 104.00 0.87 0.11
  132.68 133.50 0.47 0.47
  137.00 138.00 0.77 0.73
NC029 80.62 84.82 3.44 0.31
including 81.02 81.62 0.49 0.64
  86.00 87.84 1.67 0.14
*intervals are not necessarily representative of true width
Target 18
Borehole From (m) To (m) *Interval (m) Cu (%)
NC023 64.02 65.33 1.13 0.20
  66.91 69.00 1.81 0.15
  71.00 74.00 2.30 0.13
  83.00 85.00 1.73 0.12
  88.00 89.71 1.61 0.12
  102.00 103.00 0.87 0.11
NC025 12.00 16.00 4.00 0.48
including 13.00 14.00 1.00 0.76
  33.00 34.00 0.87 0.11
*intervals are not necessarily representative of true width

Qualified Person

Mr. Chris Meyer (Pr.Sci.Nat.) is a "Qualified Person" as defined by National Instrument 43-101 and oversees Mukuba's exploration programs. Mr. Meyer has supervised and approves the preparation of the technical information contained in this press release.

About the Company

Mukuba is a Canadian mining company focused on the exploration and development of the Northcore Project, which is located in the highly prospective Central African Copperbelt region of Central Zambia. The Northcore Project encompasses approximately 2,274 square km of geologically prospective ground in the Domes Region of the Zambian Copperbelt. Mukuba's exploration licenses for the Northcore Project cover both copper and cobalt. Geological mapping, soil sampling, investigation of the historical showings, ground-truthing of the geological surveying results and drilling carried out by the Company have confirmed existing historical geological anomalies, identified new anomalies and confirmed the presence of copper mineralization.

Mukuba also has the exclusive option to acquire an 85% interest in the exploration license rights to a property (the Nyimba Project) near the town of Nyimba, approximately 300 km east of Lusaka, in Zambia. The Nyimba Project is well advanced and substantial exploration work has been completed to date on its polymetallic deposits which hosts zinc, with copper, lead, molybdenum, silver and gold. Mukuba continues to assess historic exploration records which indicate there are five defined areas of mineralization within the 500 square kilometre license area. The most prospective area appears to be Chipirinyuma, where soil sampling by Minex and Rio Tinto defined a surface anomaly measuring 3.5 km by 1.2 km.

Forward-looking Information

Securities regulators encourage companies to disclose forward-looking information to help investors understand a company's future prospects. This press release contains statements about our results, planned drilling and future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.

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

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