New Dimension Resources Ltd.

New Dimension Resources Ltd.
International Minerals Corp.

April 02, 2009 09:00 ET

New Dimension and International Minerals Sign Agreement to Drill Reese River Silver Property, Nevada

New Dimension Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 2, 2009) - New Dimension Resources Ltd. (TSX VENTURE:NDR) and its wholly-owned subsidiary Dimension Resources (USA) Inc. (the "Company" or "New Dimension") is pleased to announce that it has executed a Letter Agreement (the "Agreement") with International Minerals Corp. (TSX:IMZ) ("International Minerals") to earn an interest in New Dimension's Reese River Project, (the "Property" or "Reese River"), located in the Austin Mining District of Nevada.

The Agreement obligates International Minerals to fund a 2,000 metre Phase I reverse circulation drill program in the first year of the Agreement following the receipt of all necessary permits. This drill program is expected to commence in the second quarter of this year. To view a map showing the planned drilling and further information regarding the project, please visit our website at the following link:

New Dimension is very enthusiastic about the potential of Reese River and pleased to join forces with International Minerals in evaluating this important project. International Minerals is an emerging gold and silver producer, with an operating silver-gold mine (Pallancata) in Peru and two gold development projects in Ecuador together with a strong balance sheet that includes cash and short term investments of approximately US$48 million.

Reese River Project - Background Information

New Dimension's Reese River Project includes the Amador Canyon and New York Canyon priority target areas which, along with the intervening ground, cover over 4.5 square kilometres of very prospective geology. Within the property there are numerous historical mine workings with most of these positioned along a sedimentary-intrusive contact that hosts much of the known mineralization in the district. Reported historical silver production from the Austin District exceeded 20 million ounces with the majority of production coming from veins over a 30 year period following the discovery of the district in 1862. The Company believes the property holds significant potential for both high grade underground and open-pittable silver deposits. The property is well located with good access and infrastructure.

Although the New York Canyon area of the Property is the site of several historic underground bonanza silver mines, there is very little outcrop and all the underground workings are inaccessible. Surprisingly there has been no modern exploration or any drilling on these historic high-grade targets. In addition to the historical underground vein mineralization, there is evidence for important wall-rock mineralization that could support an open pit deposit. This evidence includes the results of 89 rock chip and representative dump samples collected by the Company over the main target area. All the samples reported anomalous silver with 21 of these assaying over 100 g/t with an average of 254 g/t silver and a range from 102 to 601 g/t silver. In addition, 39 one to three metre rock chip samples collected by the Company's consulting geologist averaged 60 g/t silver. Samples values ranged from 1 to 285 g/t silver and 10 grab samples from wall rock material collected from mine dumps averaged 160 g/t silver with a range of 32 to 485 g/t silver. A high silver value of 1,829 g/t was not used in the average.

Of the initial 2,000 metre drill program, approximately one half of the program will consist of eight holes to be completed at New York Canyon as a preliminary test of a large 1,000 by 300 metre mineralized area hosting multiple historical vein feeder structures and potentially important wall rock mineralization.

At the Amador Canyon area on the Property, located approximately two kilometres to the northwest of New York Canyon, two styles of silver mineralization have been identified by the Company. One style is related to shallow-dipping shear zones on bedding planes that had limited drilling by another unrelated company in 2004. Historical results from one of these drill holes were reported to include 12.2 metres (drill width) of 286 g/t silver. The Company cannot verify the accuracy of these results.

A second style of mineralization is related to an easterly trending fault zone called the Amador Fault that extends approximately 1,000 metres along Amador Canyon. Both styles of mineralization saw significant historical mining activity as evidenced by numerous large mine dumps. The Company believes that the Amador Fault was an important feeder for these historical mines and the planned drilling will be the first modern test of its potential to host significant silver mineralization In addition, a previously unknown gold zone was discovered by New Dimension in 2007 several hundred metres east of the silver zone. Here two 1-metre chip samples of altered sediments, exposed through cover approximately 50 metres apart, reported values of 9.8 g/t and 4.8 g/t gold.

The Amador Canyon area will also be drill tested, with six to eight drill holes totaling approximately 1,000 metres.

Letter Agreement

The Agreement allows International Minerals, over a four year period, to earn an initial 60% interest in the Property by undertaking US$1.0 million in exploration expenditures and maintaining the underlying property obligations. The Agreement is subject to legal due diligence, the approval of the respective Boards and receipt of any necessary regulatory approval.

Exploration expenditures include a firm commitment to complete a 2,000 metre drill reverse circulation program at the Reese River Property within one year of receiving all necessary permits. International Minerals will have the option to acquire an additional 10% interest (for a total interest of 70%) by funding and completing a Feasibility Study within eight years. New Dimension will collect US$10,000 upon the Agreement receiving all necessary approvals and a further US$100,000 in cash or equivalent value in International Mineral shares (at the election of International Minerals) upon International Minerals earning a 60% interest in the Property.

Once International Minerals has earned its interest (either 60% or 70%), either party can be diluted to a 1% net smelter return ("NSR") royalty for non-participation in approved expenditures on the Property. International Minerals will be the operator of the project, with New Dimension managing the initial Phase 1 drill program.

Corporate Update

During the last fiscal quarter, New Dimension has taken positive steps to decrease its future cash flow requirements by significantly reducing its Peruvian support costs and reducing corporate overhead and exploration costs in response to weakness in global financial markets. As part of a continued strategic review of its properties, the Company has elected to terminate its agreement to obtain a 100 percent interest in the Blackrock Property, located in Nevada.

In addition, the Company reports that Richard Godfrey has resigned as CFO of the Company to devote his full efforts to Capstone Mining Corp., which recently completed a business combination with Sherwood Copper Corp. As a result of Mr. Godfrey's departure, the Company is very pleased to have Mr. Bernie Zacharias, C.A. assume the duties of Chief Financial Officer. Mr. Zacharias has a proven track record of providing financial services to resource companies, and New Dimension welcomes him to their team.

New Dimension, under the Company's Stock Option Plan, has granted 150,000 incentive stock options to an officer and employees of the Company. The options are exercisable over a period 5 years at a price of $0.15.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Thomas Burkhart, the Company's Vice President of Exploration, a director and a Qualified Person under NI 43-101.

About New Dimension Resources

New Dimension Resources Ltd. is engaged in the acquisition, exploration and development of quality exploration opportunities throughout the Americas. Currently, the Company's exploration activities are focused on mineral properties situated in Nevada, with drilling planned for the Reese River silver property. The Company also maintains strategic properties in Canada and South America, including the Cenepa Project, which is located along the Ecuadorian border in northern Peru, and covers the projection of a 20 kilometre long north-south trending mineral belt that includes Kinross Gold Corp.'s (TSX:K) Condor Project and the Fruta Del Norte gold discovery.



Fred G. Hewett, P.Eng., President & CEO

This news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See New Dimension's filings for a more detailed discussion of factors that may impact expected results.

Neither 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 news release.

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