Saturn Minerals Inc.
TSX VENTURE : SMI

Saturn Minerals Inc.

March 29, 2011 10:23 ET

Saturn Minerals Makes New Coal Discovery at Saskatoba Project, 88.98 Metre Long Coal Intersection on Overflowing Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 29, 2011) - Saturn Minerals Inc. (TSX VENTURE:SMI) ("Saturn" or the "Company") is pleased to announce the discovery of a thick coal seam (the "Saturn Coal Seam") on the Overflowing

Property in western Manitoba. The Company completed seven vertical drill holes located within the northern and central areas of a geophysical target (the "Karolina Basin") identified on the Overflowing property by Saturn during previous airborne geophysical surveys. Six drill holes encountered coal seams of significant thickness, the thickest being in drill hole QP227-04 which encountered 88.98 metres of a single coal seam beginning at a depth of 45.65 metres.

Drill Holes: QP227-01: Coal: 39.85 metres | Depth: 45.45 metres
  QP227-04: Coal: 88.98 metres | Depth: 44.65 metres

Drill holes QP227-01 and QP227-04 were located in the north-central part of the Karolina Basin and encountered coal intersections of 39.85 metres and 88.98 metres at depths of 45.45 metres and 44.65 metres, respectively. Drill hole QP227-04 with the 88.98 metre long intersection of the Saturn Coal Seam is one of the longest single coal intersections ever reported in Canada. The true thickness of the Saturn Coal Seam at QP227-04 ranges between 80 and 86 metres as estimated from the inclination of internal coal layering observed in core. Both drill holes did not reach target basement rocks and were terminated prematurely due to technical difficulties.

Drill Holes: QP227-02: No coal encountered
  QP227-03: Coal: 3.00 metres   | Depth: 10.20 metres
  QP227-05: Coal: 12.30 metres | Depth: 21.05 metres
  QP227-06: Coal: 10.30 metres | Depth: 14.85 metres
  QP227-07: Coal: 12.35 metres | Depth: 13.10 metres

Drill holes QP227-02, QP227-03, QP227-05, QP227-06 and QP227-07 were all located along the northern periphery of the Karolina Basin and were designed to test the geological character and coal potential of the basin periphery. Significant coal seams were encountered in four of these drill holes at very shallow depths. Drill holes QP227-06 and QP227-07 encountered coal seams of 10.30 metres and 12.35 metres at depths of 14.85 metres and 13.10 metres respectively. This is the shallowest coal discovered by Saturn to date and demonstrates a significant coal potential at shallow depths in the area. Both drill holes did not reach target basement rocks and were terminated prematurely due to technical difficulties. Drill hole QP227-05 was located near the northeastern periphery of the Karolina Basin and intersected approximately 12 metres of coal at relatively shallow depth. The lower part of the drill hole intersection, beneath the main coal seam, consists of numerous intervals of coals and strongly carbonaceous rocks interlayered with black sandstones and conglomerates which contain numerous fragments of coal, carbonaceous clays and abundant fine detritus of coal. Drill hole QP227-02 was situated over the margin of a minor positive gravity feature within the Karolina Basin and intersected limestone breccia and was terminated in cavernous carbonate basement rocks at moderately shallow depth.

The following table summarizes the results of Saturn's 2011 winter drill program:

Drill Hole From* To* Width   Description Remarks
QP227-01 45.45 85.30 39.85   Coal with minor mineral  
          partings  
  91.65 94.35 2.70   Coal  
  94.35 95.15 0.80   Carbonaceous mudstone  
QP227-03 10.20 13.20 3.00   Coal  
  13.20 13.70 0.50   Carbonaceous clay  
QP227-04 20.20 20.60 0.40   Coal(?) Casing, no core – inferred
            from downhole geophysical
            logs
  44.65 133.63 88.98   Coal with minor mineral  
          partings  
QP227-05 21.05 25.30 4.25   Coal with mineral Casing, no core – inferred
          partings from downhole geophysical
            logs
  25.30 33.35 8.05   Coal  
  36.30 38.15 1.85   Layers of coal and  
  40.70 41.30 0.60   carbonaceous clay  
  42.35 43.25 0.90      
  45.15 45.65 0.50      
  49.75 52.40 2.65      
  54.05 54.50 0.45      
QP227-06 14.85 25.15 10.30   Coal  
QP227-07 11.80 12.15 0.35   Coal  
  13.05 25.40 12.35   Coal  
  25.40 26.75 1.35   Carbonaceous mudstone  

* - all depths in metres as determined by visual core inspection and verified by a set of downhole geophysical logs

The following table summarizes character of the Saturn Coal Seam as encountered in drill hole QP227-04.

Drill Hole From To Width   Description
Saturn 44.65 47.30 2.65   Coal with minor mineral partings
Coal 47.30 64.95 17.65   Coal
Seam 64.95 65.85 0.90   Coal with thin silty partings
QP227-04 65.85 74.15 8.30   Coal
  74.15 75.15 1.00   Siderite and carbonaceous siderite
  75.15 112.40 37.25   Coal
  112.40 113.25 0.85   Coal with thin silty partings
  113.25 121.15 7.90   Coal
  121.15 125.95 4.80   Coal and silty coal
  125.95 133.63 7.68   Coal*
Total 44.65 133.63 88.98    

* - the downhole geophysical logs are available only for the upper half of the interval

All drill holes completed during the program were situated along three pre-selected flight-lines of the airborne gravity survey completed over the Overflowing Property in December 2010 (see Saturn news release, January 27, 2011). The drill program was designed to calibrate the results of this airborne gravity survey with drill-hole data, test other geophysical parameters of the current target and explore geological character of the margins of potential coal basins. The edges of the Karolina Basin were not completely defined during the drill program and the basin is open to the southwest and the southeast.

The Company also announces that it has shipped 51 coal core samples to Loring Laboratories in Calgary for proximate coal analysis and collected a bulk sample of coal for a coal-to-liquid ("CTL") test. Results and additional data will be reported when the tests are completed.

This is the second coal discovery made by Saturn on the Saskatoba Project, the first being the Leif coal discovery on the Armit Property located in eastern Saskatchewan (see Saturn news releases, December 21, 2009 & February 4, 2010). The Karolina Basin is located approximately 8 km due east from the Saskatchewan-Manitoba border. To-date, the Company has completed 19 drill holes in the region from which 14 drill holes intersected coal seams of significant thickness.

The 7 hole drill program totaled 484.02 metres of HQ sized drill holes. Core-Pro Drilling Inc. of Tisdale, Saskatchewan provided drilling services for the project. Century Wireline Services of Calgary, Alberta provided downhole geophysical logs.

The drill program was conducted under the supervision of Dr. Krzysztof Mastalerz, P,Geo, the Company's qualified person under 43-101 standards who has reviewed and approved the technical content of this release.

About Saturn Minerals Inc.

Saturn Minerals Inc. (TSX VENTURE:SMI) is a junior Canadian energy & resources company advancing a portfolio of energy and resource assets in Saskatchewan, Manitoba and British Columbia. The Company has made two bituminous coal discoveries at its Saskatoba Project since 2009, including one of the thickest coal seams encountered in Canada at 88 metres thickness. The Company continues to build strategic relationships throughout eastern Saskatchewan to pursue new opportunities and advance current projects in the Saskatchewan share of the Western Canadian Sedimentary Basin.

To learn more, please visit the Company's website at: www.saturnminerals.com.

SATURN MINERALS INC.

Stan Szary, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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