Radisson Mining Resources Inc.

Radisson Mining Resources Inc.

March 15, 2007 08:00 ET

Radisson Options its Detour Lake Mining Camp Properties to Arianne

ROUYN-NORANDA, QUEBEC--(CCNMatthews - March 15, 2007) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) is pleased to announce that it has signed a letter of agreement allowing Arianne Resources Inc. ("Arianne") to acquire 50% of Radisson's interest in its Detour Lake mining camp properties.

Terms and conditions: According to the letter of agreement, Arianne can acquire this interest, on or before August 31, 2010, by carrying out $1.5 million in exploration work and making option payments totalling 75,000$CDN and issuing 300,000 shares of Arianne Resources Inc. to Radisson. Arianne will be the operator for the duration of the agreement. The agreement is subject to regulatory approval.

Gold potential: The properties cover a total area of 16,726 hectares in the prolific Abitibi Greenstone Belt (150 million oz Au) in northwestern Québec. They are located 15 km east of the Detour Lake mine where partners Detour Gold Corporation and Trade Winds Venture recently announced total gold resources of 5.7 million oz Au (31/01/2007 release by Detour Gold and 27/10/2006 release by Trade Winds). Taking into account the Detour Lake mine's past production of 1.8 million oz Au, the Detour Lake mining camp has a total resource of 7.5 million oz Au. The gold mineralization is associated with the Sunday Lake regional deformation zone, which is similar to the well-known Destor/Porcupine and Cadillac/Larder Lake regional fault zones, along which most of the Abitibi gold deposits occur.

Radisson's properties cover more than 20 km along the Sunday Lake deformation zone. They also straddle more than 15 km of the Massicotte regional gold-bearing fault zone, which hosts the Lynx, Rambo and Lap 3 gold showings with historical gold values of 7.8 g/t Au over 7.2 m, 6.3 g/t Au over 2.7 m and 24.1 g/t Au over 2.4 m respectively.

As soon as the agreement has been signed, Arianne will begin compiling and integrating all available geoscience data and will then conducts airborne geophysical surveys to define priority exploration targets that will be the focus of more detailed exploration work.

"Radisson has always believed in this mining camp's potential; the Company has been active in it since 1987. Since autumn 2005, it even increased its presence in the mining camp by acquiring more than 10,000 hectares of land to cover the Sunday Lake and Massicotte regional deformation zones. The involvement of a partner will allow Radisson to continue its efforts to generate new projects highly prospective for the discovery of gold and base metals," mentioned Mr. Donald Lacasse, President of Radisson.

About Radisson

Radisson is a Quebec-based exploration company specializing in the discovery of gold, molybdenum, and base metal deposits. It has an interest in nine properties in northwestern Quebec and five properties in northwestern Ontario.

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

Contact Information

  • Radisson Mining Resources Inc.
    Donald Lacasse
    President and Chief Executive Officer
    (819) 797-0606
    Radisson Mining Resources Inc.
    Gus Garisto
    Investor Relations
    (416) 607-6023