Odyssey Resources Limited
TSX VENTURE : ODX

Odyssey Resources Limited

June 01, 2006 10:03 ET

Odyssey Resources Limited: Independent Resource Estimate Underway At Alous Copper-Silver Deposit In Morocco

TORONTO, ONTARIO--(CCNMatthews - June 1, 2006) - Odyssey Resources Limited (TSX VENTURE:ODX) reports that P&E Mining Consultants Inc. (P&E) has been commissioned to complete an Independent Resource Estimate at the Company's Alous copper-silver deposit. Alous is the largest of several known copper-silver deposits and occurrences found within Odyssey's Anti Atlas Copper-Silver property, located in southwestern Morocco. Alous was first drilled by Occidental Minerals Ltd. in the late 1960s and has seen virtually no work until Odyssey completed its confirmation drilling program in March 2006. Although the reliability of the historic Occidental drill data will be independently assessed by P&E, an initial informal comparison of Odyssey's drill results from holes drilled at the same location and orientation as Occidental's, indicates that the historic data are reliable and can be incorporated into the resource estimate.

Also in Morocco, Odyssey is currently obtaining necessary permits and related documentation to begin its planned auger drilling of the Assif Imider and Imin Irfi copper-silver bearing tailings dumps. A 50-metre grid is planned and drilling is scheduled to begin during the third quarter of 2006, with Independent Resource Estimates to follow. Column leach tests of composite tailings samples taken from both tailings dumps, conducted by Kappes, Cassiday & Associates, yielded over 90 percent copper recovery, but with relatively high acid consumption. As the auger drilling program and resource estimates are being completed, capital development and operating cost parameters will be fully investigated and quantified to determine the possibility of producing cathode copper from the tailings and thus generating near-term cash flow for the Company.

Odyssey management views Alous as its top priority for immediate advancement. Likewise, the copper-silver tailings represent a significant possible source of readily extractable copper - another project that the Company is diligently moving forward. Meanwhile, exploration for additional copper-silver deposits across the Anti Atlas property and beyond continues.

Avrom E. Howard, P.Geo. (Ontario) is the Qualified Person responsible for this project under the terms of National Instrument 43-101.

COMPANY PROFILE: Odyssey Resources Limited is the only junior mining company focused exclusively on exploration and development in the mineral-rich Mediterranean Region. Odyssey's projects include known gold and copper-silver deposits. The Company's two main projects are focused on these resources: the Tavsan Gold Property in Turkey and the Anti Atlas Copper-Silver Project in Morocco.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

Contact Information