Pitchstone Exploration Ltd.
TSX VENTURE : PXP

Pitchstone Exploration Ltd.

October 20, 2005 07:00 ET

Pitchstone Exploration Ltd.: Athabasca Drilling Commences

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 20, 2005) - Pitchstone Exploration Ltd. (TSX VENTURE:PXP) and Southern Cross Resources Inc (TSX:SXR) are pleased to announce the commencement of diamond drilling on their eastern Athabasca Basin uranium projects. Peak Drilling Ltd. has been contracted to complete 8,600 m of core drilling on the Waterfound and Darby-Candle projects over the next six months.

An initial drill program of approximately 2,000 meters in four holes has begun on the road-accessible Waterfound Project situated 40 km northwest of Points North, Saskatchewan. Drill holes will be located to test a five km long zone of coincident electromagnetic, magnetic and gravity anomalies. The anomalous zone was delineated during the previous year with 346 km of airborne gravity-magnetic-radiometric surveying using the Falcon® system, and 30.2 km of ground electromagnetic surveying. No drilling has previously been performed on the project.

Once freezing conditions provide winter road access the drill will be moved to the priority Darby-Candle Project where 6,600 m in approximately 10 holes are planned. Darby-Candle is the largest of five Pitchstone projects under option to SXR and adjoins Cameco's Cigar Lake mine property to the west. There are approximately 55 km of electromagnetic conductors indicated on Darby-Candle. A map showing the location of the projects is attached.

A budget of $2.8 million has been approved by the parties for exploration activities to September 2006 and will be totally funded by SXR. This will provide for drilling at Waterfound and Darby-Candle, plus electromagnetic surveys on one other project. Of Pitchstone's seven Athabasca Basin projects, SXR can earn a 50% interest in five of the projects by providing one million SXR shares, 1.5 million warrants, $350,000 in cash payments and funding $4 million in exploration. SXR will have funded a total of $3.8 million after completion of this program. Pitchstone is the operator of the Athabasca projects.

Pitchstone is a uranium exploration company with an interest in more than 200,000 ha of land in the Athabasca and Hornby Bay Basins, including a 50% interest in the Hornby Bay Mountain Lake deposit. This deposit contains a NI 43-101 compliant Inferred Resource of 8.2 million pounds U3O8 at an average grade of 0.23% U3O8.

On behalf of the Board,

E.A.G. (Ted) Trueman, CEO and Director

Pitchstone Exploration Ltd.

To view the map accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/pxpmap.pdf

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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