Prominex Resource Corp.

Prominex Resource Corp.

July 16, 2007 09:00 ET

Prominex Resource Corp.: Scott Wilson RPA Reports

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 16, 2007) - Prominex Resource Corp. (TSX VENTURE:PXR) announced today that the company has received a second interim report from Scott Wilson RPA ("RPA") on the compilation of the drill hole database on the T3 Lens and T4 lenses of the Tulks Hill Project located in Central Newfoundland.

During the 2006 exploration program Prominex conducted an airborne survey, re-gridded the entire property to metric, performed a gravity survey and diamond drilled 28 holes to test the T1 and T2 (6 holes); T3 (16 holes) and T4 (2 holes) and an additional 4 holes on a gravity anomaly defined during the summer exploration program.

The company is earning a 51% interest in the property from Buchans River Inc. (TSX VENTURE:BUV). The term of is four years during which time the company will make cash payments totaling $70,000, incur $1,000,000.00 in exploration expenditures and issue 900,000 common shares to Buchans River Ltd.

T3 Lens

Scott Wilson RPA reports that based on a minimum cut-off grade of 4% Zn and a minimum horizontal thickness of 2 m, the mineralized zone is approximately 250 m long, 2 m to 7 m thick, and extends approximately 75 m below the surface. Lower grade and thinner zones of the pod extend the mineralization 30 m to 35 m farther along strike at either end of the pod.

The new Prominex drilling results TH06 - 23, 24, 25, 26, 27, and 28 demonstrate that copper and zinc are present at the same general grade level as the historic Asarco results. Table 1 compares the results of three Prominex holes with corresponding Asarco holes located within approximately 10 m of each other, as plotted on longitudinal section. The first two pairs compare reasonably well, and the third pair shows some variability within the T3 Lens.

Table 1 Comparison of Drill Hole Assay Results, T3 Lens
Prominex Resources - Tulks Hill Project, Newfoundland

Old DDH (Asarco) New DDH (Prominex)
Core Core
DDH length DDH length
No. (m) % Cu % Zn No. (m) % Cu % Zn
T-71 4.5 0.66 11.93 TH-06-25 4.5 0.79 13.46
T-90 3.0 1.90 3.85 TH-06-24 4.0 2.20 2.54
T-99 6.0 0.89 8.31 TH-06-27 2.0 0.56 1.71

Sulphide mineralization within the T3 Lens is well defined, with drill hole intercepts spaced 10 m to 60 m apart. The new data have better defined the higher grade core area, but do not appear to have increased the size of the mineralized area.

In terms of the general outline and shape, the main T3 Lens is relatively well defined, but Scott Wilson RPA recommends additional in-fill drilling to confirm the continuity of mineralization up-dip and down-plunge. The recommended additional in-fill drilling includes eleven holes (total 925 m).

The additional drilling would not likely increase the size of the mineralized zone, but will provide more reliable data to estimate the tonnage and average grade of the mineralization.

T4 Lens

There are only two new holes completed on T4 lens by Prominex during their 2006 drilling program. Twenty old (Asarco) holes have attempted to test the target, but many of them are relatively deep and the upper part of the lens is generally untested. There may be two separate mineralized zones within the T4 target area, which extends more than 200 m along strike.

Scott Wilson RPA recommends a total of 1,375 m of drilling in 11 holes to better outline this zone. The purpose of this additional drilling is to outline near surface massive sulphide mineralization. If encouraging results are obtained from this phase of drilling, then additional in-fill drilling may be recommended.

For more information on Scott Wilson RPA please visit:


Lorne King, President and CEO

This release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements'. 'Forward-looking statements' are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as expects, "will", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur.

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