Navasota Resources Ltd.
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Navasota Resources Ltd.

June 08, 2005 09:30 ET

Navasota Resources Ltd.: Drilling Commences on Missamana Property

KAMLOOPS, BRITISH COLUMBIA--(CCNMatthews - June 8, 2005) - Navasota Resources Ltd. (TSX VENTURE:NAV) is pleased to announce that diamond drilling has commenced on its Missamana and Gueliban gold properties, in northeastern Guinea, West Africa. Navasota has an option to acquire up to a 60% interest in Missamana and Gueliban from Mano River Resources Inc. (Mano).

Recent exploration at Missamana and Gueliban by Mano during 1996 and 1997, under the supervision of independent technical consultants ACA Howe International, included soil geochemistry, trenching, airborne geophysics, and 4,000 metres of reverse-circulation drilling. Most of the trenching and drilling were completed on the Missamana Prospect, and forms the basis for an indicated resource of 1,063,400 tonnes grading 1.77 grams per tonnes gold equating to 60,520 ounces. The 2005 program will consist of 2500 metres of diamond drilling to confirm and expand upon previous drilling on the Missamana Prospect, and collect geological data to assist in resource modelling. Exploratory drilling is also planned for the Madou Prospect on the Gueliban Property.

The properties form a contiguous block covering 498 square kilometres of highly prospective Proterozoic Birimian Terrane, which hosts the majority of the large gold mines in West Africa. The property is centred 30 km east of Kankan, a major regional centre in Guinea and 700 km east of Conakry, the capital city of Guinea.

Principal Terms of the Missamana/Gueliban Property Letter of Agreement

Pursuant to a Letter of Agreement between Navasota and Mano, Navasota may earn an initial 51% interest in the properties by:

-spending US$125,000 over the first 12 months which Mano will match (Phase 1).

-spending US$1,375,000 over a 24 months period following the completion of Phase 1 (Phase 2).

Navasota may, at its option, acquire a further 9% by:

-spending a further UD$500,000 over a 12 month period following the completion of Phase 2 (Phase 3).

Navasota shall be the operator of the Phase 1 and Phase 2 programs.

On behalf of the Board of Directors

Navasota Resources Ltd.

Christopher J. Wild, P.Eng., President & CEO


Neither the TSX Venture Exchange nor any other regulatory body has approved or disapproved of the information contained herein.

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