Roca Mines Inc.

Roca Mines Inc.

March 16, 2005 16:23 ET

Roca Mines Inc.: MAX Molybdenum Project; Permit Received for Underground Rehabilitation and Infill Drilling


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ROCA MINES INC.

TSX VENTURE SYMBOL: ROK

MARCH 16, 2005 - 16:23 ET

Roca Mines Inc.: MAX Molybdenum Project; Permit
Received for Underground Rehabilitation and Infill
Drilling

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 16, 2005) - Roca Mines
Inc. ("the Company") (TSX VENTURE:ROK) announces that it has received a
Mines Act Permit from the British Columbia Ministry of Energy and Mines
for underground rehabilitation and an infill diamond drilling program at
the MAX Molybdenum Project, located 60 kilometres (36 miles) southeast
of Revelstoke, British Columbia.

An initial assessment of conditions at the main portal has been
completed and Roca crews will now begin work to rehabilitate the
production-sized adit and conduct a 3,000 m (9,840 ft), 23-hole,
underground drilling program. The infill program is intended to bring
sampling in the upper High Grade Zone ("HG Zone") hosted within the MAX
deposit to about 20 m spacing to permit development of a mining plan
using ramp access from the existing adit. This important phase of work
will also provide composite samples for additional metallurgical testing
and mill-process optimization. The program will be completed over the
next two months at a cost of approximately $975,000, described in more
detail in a 43-101 technical report by Mr. Terry Macauley, P.Eng.,
available at www.rocamines.com or at www.sedar.com.

A Preliminary Economic Assessment for the Max Molybdenum Project is
currently being prepared by the Company's independent consultants.
Delivery of the report has been delayed until early April 2005, due to
the Company's request for refinements aimed at maximizing grade in the
initial years of mine production, and an overall high demand on mining
engineering services today. With molybdenum-oxide recently trading at
over US$35/lb, Roca's consultants are now focusing initial production
plans on the highest grade measured resource of 260,000 tonnes grading
1.95% MoS2 (at a 1.00% MoS2 cutoff) within the greater HG Zone (706,000
tonnes averaging 1.07% MoS2), as previously reported in ROK #16-04. The
Company looks forward to the delivery of the Preliminary Economic
Assessment for the MAX Molybdenum Project and will issue a press release
and make the study available via SEDAR when it is received. Mr. Scott
Broughton, P.Eng. is the NI 43-101 qualified person responsible for the
preparation of this press release.

ROCA MINES INC.

Scott E. Broughton, P.Eng. - President & CEO

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Roca Mines Inc.
    Scott E. Broughton, P.Eng.
    President & CEO
    (604) 684-2900
    (604) 684-2902 (FAX)
    info@rocamines.com
    www.rocamines.com
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.