Santoy Resources Ltd.
TSX VENTURE : SAN

Santoy Resources Ltd.

June 05, 2007 12:08 ET

Santoy Reports Drill Results From Fish Hawk Lake, CMB, Labrador

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2007) - Santoy Resources Ltd. (TSX VENTURE:SAN) is pleased to announce that all analytical results of the Phase 1 diamond drilling program on the Company's 100% owned Fish Hawk Lake South and North zones have been received. These results confirm the presence of a significant uranium mineralized system at the Fish Hawk Lake South Zone.

Santoy completed 15 diamond drill holes for a total of 1642 meters; 13 holes tested the Fish Hawk Lake South Zone uranium mineralization and 2 holes were drilled to test the mineralization at the North Zone. The Fish Hawk Lake South and North zones, as well as the Central Zone, were discovered during ground follow-up of airborne radiometric anomalies in 2006 (see news release of May 10, 2007 for further details).

Fish Hawk Lake South Zone

Diamond drilling on the South Zone tested approximately 300 meters of strike length along the zone to vertical depths of between 25 and 120 meters. Significant radioactive zones were intersected in 10 of 13 drill holes. Drilling has confirmed that the mineralized zone can now be traced over a minimum strike length of 250 meters. The zone dips steeply to the north, and is open to the east and at depth. Interpretation of the drill results and airborne radiometrics further suggests that the western extension of the mineralized zone may be structurally controlled by a west-southwest plunging structure.

Highlights of analytical results from the South zone include 0.181% U3O8 over 4.50 meters and 0.106% U3O8 over 9.92 meters, both within a thicker zone of 0.063% U3O8 over 27.88 meters in FHLS-07-03; 0.419% U3O8 over 3.28 meters, including 1.153% U3O8, 0.790 oz/tonne silver and 0.5% copper over 0.94 meters in FHLS-07-09; and 0.065% U3O8 over 17.46 meters, including 0.100% U3O8 over 5.23 meters in FHCS-07-13. The South Zone mineralization was tested by FHLS-07-13 to a to a vertical depth of 120 meters, and the results confirm that the mineralization persists in grade and thickness at depth.

Significant mineralized intersections are included in the following table. True thicknesses are estimated at 85 to 90% of the core width for 45 degree dip holes, approximately 80% for 55 degree dip holes, and 65% to 70% for 65 degree dip holes. Maps illustrating the drill hole plan and significant drill intersections will be posted to Santoy's website as soon as available.



Fish Hawk Lake 2007 Drill Results
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Hole Dip From To Length (m) % U3O8 lbs U3O8 per ton
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Fish Hawk Lake South Zone
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FHLS-07-01 45 7.00 7.30 0.30 0.124 2.48
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and 18.95 22.85 3.90 0.086 1.72
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including 18.95 20.85 1.90 0.218 4.36
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and 34.37 49.37 15.00 0.040 0.80
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FHLS-07-02 60 28.24 38.29 10.05 0.041 0.82
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and 59.17 60.00 0.83 0.183 3.66
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FHLS-07-03 45 23.32 51.20 27.88 0.063 1.26
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including 37.28 38.28 1.00 0.158 3.16
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including 41.28 51.20 9.92 0.106 2.12
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including 41.28 45.78 4.50 0.181 3.62
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FHLS-07-04 65 42.63 45.01 2.38 0.049 0.98
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FHLS-07-05 45 49.00 65.06 16.06 0.060 1.20
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including 50.78 52.28 1.50 0.118 2.36
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including 58.50 62.70 4.20 0.093 1.86
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and 76.82 77.73 0.91 0.103 2.06
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FHLS-07-06 65 69.05 80.12 11.07 0.044 0.88
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and 87.22 88.19 0.97 0.206 4.12
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FHLS-07-07 45 6.23 8.20 1.97 0.032 0.64
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FHLS-07-08 65 72.61 72.91 0.30 0.436 8.72
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FHLS-07-09 45 52.04 55.32 3.28 0.419 8.38
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including 54.38 55.32 0.94 1.153 23.06
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FHLS-07-13 55 137.24 154.70 17.46 0.065 1.30
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including 143.24 154.70 11.46 0.079 1.58
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including 149.47 154.70 5.23 0.100 2.00
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Fish Hawk Lake North Zone
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FHLN-07-01 45 74.03 76.20 2.17 0.040 0.80
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Fish Hawk Lake North Zone

Two holes were drilled on the North Zone to test uranium mineralization exposed in outcrop and in angular talus (see news release of May 10, 2007 for further details). FHLN-07-01 was drilled to test the mineralization exposed in outcrop at the base of the hill at the North zone, where a locally derived high grade uranium bearing boulder was discovered. Weakly anomalous uranium values were intersected down dip of this mineralization. A second hematized zone, intersected at depth, yielded 0.040% U3O8 over 2.17 meters. The presence of this deeper zone was not detected by airborne radiometrics, underpinning the potential for this area of the Central Mineral Belt to host blind uranium deposits.

The Fish Hawk Lake claims (Anomaly 7 property) are 100% owned by Santoy and will become the focus for the Company's Labrador programs. In addition to the Fish Hawk Lake mineralization, Anomaly 7 and 17 mineralization, as well as areas displaying very anomalous uranium in lake sediment results (see releases of May 2, 2005 and Mar. 3, 2006) will be further explored by a comprehensive summer program. Drilling will resume on the Fish Hawk Lake targets subject to rig availability and the company completing additional exploration to define additional drill targets in the area.

Samples submitted for analyses were sawn half-core (BTW size core). Samples were prepared at Eastern Analytical Ltd., Springdale, NL and analyzed at SRC Laboratories, Saskatoon SK. The samples were analyzed by ICP (induced coupled plasma). Samples reporting greater than 100 ppm U were re-analyzed by fluorimetry. Sample batches included internal repeats, standards and blanks. Blanks were inserted in the sample sequence by Santoy personnel in the field.

The exploration results reported by Silver Spruce and Universal Uranium on their Two Time Zone located 6 km. to the northwest and the results reported by Crosshair to the southeast further enhances the significance of this property.

On other activity in Labrador, the 50:50 Mega Uranium (originally Monster Copper), Santoy Joint Venture has approved budgets totaling $1.1 million (50% Santoy) to further explore the Mustang Lake and Bruce River properties. These programs will include 2,000 meters of diamond drilling at Mustang Lake.

The Qualified Person, as defined by National Instrument 43-101, responsible for the technical data in this news release is Ron Nichols, P. Geo., Vice-President of Exploration.

On Behalf of the Board of Directors

SANTOY RESOURCES LTD.

Ron Netolitzky, President

Cautionary Statement on Forward-Looking Information

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

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

Contact Information

  • Santoy Resources Ltd.
    Ron Netolitzky
    President
    (604) 669-4799
    or
    Santoy Resources Ltd.
    Tony Perri
    Investor Relations, Manager
    (604) 669-4799
    (604) 669-2543 (FAX)
    Website: www.santoy.ca