September 22, 2005 09:03 ET

New Sleeper Gold Corporation Announces Letter of Intent on Jersey Property

LONGUEUIL, QUEBEC--(CCNMatthews - Sept. 22, 2005) - New Sleeper Gold Corporation (TSX VENTURE:NWS) and Maximus Ventures Ltd. (TSX VENTURE:MXV) are pleased to announce that they have signed a Letter of Intent in connection with the Jersey property located in Nevada. The Jersey Property, located 15 kilometres north of Lovelock, Nevada, is situated in the Arabia Mining District which was discovered in 1859 and had intermittent production to 1951 from silver-lead-antimony-gold-quartz veins.

The LOI provides that New Sleeper may earn a 50% interest by spending US$2,000,000 in exploration and development expenditures on the Jersey Property within two years from the execution of a definite option agreement. The parties anticipate executing an option agreement within the next 60 days. New Sleeper will have to pay to Maximus US$25,000 upon execution of the option agreement and complete a minimum of 2,286m of RC drilling by August 15, 2006. The first phase of proposed expenditure of US $200,000 will include mapping, geophysics and up to 2,400m of RC drilling during the fall of 2005.

The Jersey Property consists of (10) patented mining claims and (26) unpatented mining claims. The veins in the Jersey Property occur in a granitic host rock and vary from 15cm to 4.3m in width with lengths up to 300m. Grades in the mined portions of the veins, as reported in Nevada Bureau of Mines and Geology Bulletin 89 (1977), were commonly 40-50 percent lead plus antimony with 40-80 ounces of silver per ton. Gold was a by-product. Stockwork zones adjacent to veins in the main part of the district suggest that low grade silver and gold mineralization may extend outside the veins into the wall rock. A compilation of assays for 74 samples collected by various exploration groups over the past ten years from both the veins and the adjacent wall rock within the granitic host yielded an average of 144 g/t Ag of silver and 1 g/t Au. The historic exploration data suggests there is potential for near-surface disseminated mineralization at the property.

This press release was prepared under the supervision and review of Mr. Adrian Fleming, Exploration Manager for New Sleeper's projects in Nevada and a Qualified Person with the ability and authority to verify the authenticity and validity of information contained within this news release.

The transaction is subject to regulatory approval by the TSX Venture Exchange.

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