Playfair Mining Ltd.
TSX VENTURE : PLY

Playfair Mining Ltd.

March 25, 2008 12:57 ET

Playfair to Drill Risby Tungsten Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 25, 2008) - Playfair Mining (TSX VENTURE:PLY) is pleased to announce that British Columbia based Superior Diamond Drilling Inc. have been awarded a contract to drill a minimum of 7,000 metres on Playfair's wholly owned Risby tungsten deposit located approximately 50 kilometres west of Ross River, Yukon.

The Risby tungsten deposit contains a NI 43-101 compliant inferred resource of 6.39 million tonnes of 0.46% tungsten trioxide at a cut off grade of 0.2% (Wardrop Engineering 2007). The primary intent of the 2008 drill campaign is to increase Risby's total tungsten resource significantly by drill testing the down dip and on strike extents of established mineralization. Playfair will continue to expand the size and scope of the two sub-parallel stratiform Upper and Lower tungsten bearing skarn zones, where Scheelite mineralization is developed at or in close proximity to the quartz monzonite - limestone contact. Drilling is planned to commence by the first week of June and is expected to continue until mid-October.

Playfair Chairman Don Moore states, "Based on the existing resource calculation at Risby, we know this is a very big deposit. Our aim, through an aggressive 7,000 metre plus drill program is to expand on the already large size of this known resource. We now have planned 2008 Drill programs at Risby, Grey River and Granite Lake. These will be very active months ahead for Playfair."

The summer's efforts at Risby will result in knowledge that will be applied towards a preliminary economic assessment and early stage environmental base line studies.

Playfair's Canadian Tungsten Deposits

Playfair owns four high-grade tungsten deposits, all in Canada. Two of the four high-grade deposits (Lened and Clea) have significant historical resource estimates that pre-date NI 43-101 but that have been delineated by well established mining companies. The Grey River and Risby deposits have NI 43-101 Compliant Resource Estimates. In addition, to these four deposits, Playfair has the early stage but highly-prospective Granite Lake W-Mo exploration property. Playfair is very well positioned to benefit from the expanding global demand for tungsten having four high-grade deposits, all located within Canada.



NI 43-101 Compliant Resource Estimates

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Cut-off
Classifi- Grade Grade Pounds
Property cation %WO3 Tonnes WO3% WO3 MTU's Company
--------------------------------------------------------------------------
Inferred Wardrop
Risby Resource 0.2 6,385,000 0.46 65,043,600 2,950,200 2007
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Grey Inferred Wardrop
River Resource 0.2 852,000 0.86 16,153,700 732,700 2007
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Historic Resource Estimates(i)

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Cut-off
Classifi- Grade Grade Pounds
Property cation %WO3 Tonnes WO3% WO3 MTU's Company
--------------------------------------------------------------------------
Union
Historic Carbide
Lened Resource(i) 0.4 737,000 1.14 18,523,050 840,200 1986
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Placer
Historic Dome
Clea Resource(i) 0.5 257,000 0.93 5,269,000 239,000 1980
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(i) Estimates of tungsten resources are historical in nature, predate and
are noncompliant with NI 43-101. Playfair is not treating the historical
estimates as current mineral resources or reserves. Playfair has not
undertaken any independent investigation of the resource estimates nor has
it independently analyzed the results of the previous exploration work in
order to verify the resources, and therefore the historical estimates
should not be relied upon. However, Playfair believes that these historical
estimates provide a conceptual indication of the potential of the
occurrences and are relevant to ongoing exploration.


Michael Moore P.Geo is the Qualified Person who has reviewed the technical information contained in this News Release on behalf of Playfair

ON BEHALF OF THE BOARD

D. Neil Briggs, President and Director

No Stock Exchange has Approved or Disapproved the Information Contained Herein. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Playfair Mining Ltd.
    D. Neil Briggs
    President and Director
    (604) 687-7178 or Toll Free: 1-888-244-6644
    (604) 687-7179 (FAX)
    Website: www.playfairmining.com