Prime Meridian Resources Corp.

Prime Meridian Resources Corp.

March 13, 2008 09:30 ET

Prime Meridian Resources Corp.: Winterfire Airborne VTEM Survey Establishes New Targets Near Nickel-Copper Drill Intercepts

CALGARY, ALBERTA--(Marketwire - March 13, 2008) - Prime Meridian Resources Corp (TSX VENTURE:PMR) (FRANKFURT:DYD) ("Prime Meridian") is pleased to announce that it has received final interpretations of new VTEM airborne surveys which establish multiple untested targets in zones TZ-A,B,C,E,F,G & H in Prime Meridian's Winterfire Project area in Northern Minnesota. Previous drilling in the 1970's at TZ-G intersected nickel-copper-PGE-gold mineralization adjacent to but not coincident with three new VTEM targets contained within the same TZ-G zone.

The Company is in the fortunate position of controlling 100% of the mineral and surface rights of the lands containing this mineralization as previously defined by drilling. Importantly, Prime Meridian also owns the potential extensions thereof, as indicated by the modeling of Geotech's VTEM airborne magnetic / electromagnetic system data. Prime Meridian is very encouraged by the model developed which integrates the previous drilling, drill intercepts and the VTEM geophysical survey data. Significant upside has been established for tonnage and grade as a result of the application and interpretation of one of the most technically advanced geophysical systems currently available.

The VTEM airborne system allows for three dimensional modeling of anomalous responses and provides for innovative viewing and accurate location of the high priority drill targets that are present. Condor Consulting was engaged to provide interpretations of this airborne dataset.

The interpretations for the entire flight block shows nine separate and discreet magnetic and electromagnetic targets. One of these target zones, TZ-G, contains proven mineralization (1970s drilling). The interpretation has established that this previous drilling, which was targeting volcanogenic massive sulfide mineralization, sampled only the upper portion of one of the four conductors detected by the VTEM survey within this single target zone (TZ-G). These four conductors at TZ-G are contained within and basal to a gabbroic-noritic intrusion. The drilling at TZ-G intercepted net-textured to semi-massive to massive pyrrhotite-nickel-copper-PGE-gold mineralization in three drill holes (see Table below).

Core logging and resampling by Prime Meridian of the 1970's drilling showed flow textures preserved within the sulfide intervals. This indicates that multiple pulses of sulfides were injected and that a deeper source for these pulses resides within the base of the intrusive or within structures (feeders to the intrusive) below the intrusive body.

The 1970's drilling included the following mineralized intercepts:


Hole# From (ft) To (ft) Thickness (ft) Cu% Ni% PGM (gms) Au (gms)
----- --------- ------- -------------- ---- ---- --------- --------
R2-2 516.2 522.2 6 0.3 0.22 0.58 0.08

Hole# From (ft) To (ft) Thickness (ft) Cu% Ni% PGM (gms) Au (gms)
----- --------- ------- -------------- ---- ---- --------- --------
WF-3 615.3 618.5 3.2 0.26 0.22 1.49 0.063
WF-3 641.0 646.0 5 0.2 0.27 0.81 0.051
WF-3 646.0 651.0 5 0.4 0.39 1.108 0.108

Hole# From (ft) To (ft) Thickness (ft) Cu% Ni% PGM (gms) Au (gms)
----- --------- ------- -------------- ---- ---- --------- --------
WF-1 532.0 535.0 3 0.07 0.03 1.0 0.11
WF-1 535.0 543.5 8.5 0.44 0.19 0.68 0.12


The airborne VTEM interpretation images can be viewed by clicking on the following address: The left image shows the magnetics, the central image the conductivity and the right image the conductivity coloured with the magnetics overlain as contours. The three images indicate that the 1970's drilling tested the magnetic gabbro-norite body but the main conductive bodies have not been drill tested. The images may also be viewed at Prime Meridian's web site under Projects-Winterfire at

Three-dimensional views of the magnetic body containing the mineralization, drill holes and the new EM targets are illustrated at the following address, again, these are accessible from our website. It is apparent that the three historical drill holes tested the very upper portion of one of the four conductors present there. These four conductors are all within and generally basal to the gabbro-norite body, the preferred location for discovering higher grades of base metal sulfides (nickel-copper).

At the recent 2008 PDAC in Toronto, Condor Consulting gave a presentation on state-of-the-art exploration techniques using the models derived from the interpretation of the Winterfire data. The Adobe (.pdf) abstract for this presentation can be accessed on the Prime Meridian website,

Prime Meridian is very encouraged by the positive mineralization model at Winterfire and intends to focus its efforts to start drill testing of the accessible high priority targets as soon after spring break-up as possible.

Prime Meridian Resources Corp.

Michael J. Senn, President and CEO

Prime Meridian Resources Corp. is a Canadian exploration company focused on the Midcontinent Rift system in Michigan and Minnesota.

Michael Senn, P.Geol, President of Prime Meridian and a "qualified person" as defined by National Instrument 43-101, prepared the information in this release. Detailed information on the projects described above can be accessed in NI43-101 reports available at

Certain disclosures in this release, including management's assessment of Prime Meridian's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Prime Meridian's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Prime Meridian expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

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

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