Saturn Minerals Inc.
TSX VENTURE : SMI

Saturn Minerals Inc.

March 01, 2011 13:15 ET

Saturn Minerals Mobilizes Drill Program on Overflowing Property, Summarizes Area Work & Rights Acquisitions

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2011) - Saturn Minerals Inc. (TSX VENTURE:SMI) ("Saturn" or the "Company") has received all requisite drill and work permits and has mobilized a diamond drill from Tisdale, Saskatchewan for an exploratory drill program on the Overflowing coal property located in Manitoba. The Overflowing property adjoins the eastern border of the JV Coal Property held by Westcore Energy Ltd. (WTR: TSX.V) and 49 North Resources Inc. (FNR: TSX.V) where combined intersections of 84 metres of two coal seams were encountered in recent drill tests of geophysical targets. 

The 2011 Overflowing drill program is designed to test specific geophysical targets as identified in an airborne gravity survey which was completed over the Overflowing property in December, 2010 and indicated by an airborne GEOTEM survey completed in 2009. Current targets on the Overflowing will be drill tested to update the Company's proprietary geological model of the coal-bearing basins in relation to a system of paleovalleys and paleokarst-related depressions throughout the Company's various properties in Saskatchewan and Manitoba. 

Exploratory drilling completed in Saskatchewan and Manitoba over the previous two years by Goldsource Mines Inc. (GXS: TSX.V), Westcore Energy Ltd. and Saturn have resulted in a series of coal discoveries by all three companies. To date, all significant coal seam discoveries occur within the deposits of the Cretaceous Mannville Group which appears to infill paleo-topographic lows of the underlying Devonian carbonate rocks. The thickness of the coal seams discovered display strong correlation with the elevation of the top-Devonian paleosurface which is tentatively interpreted as related to faulting, karsting and paleodrainage development.

Saturn's cumulative exploration efforts to date total 3,208 line kilometers of airborne GEOTEM survey, 1,351 line kilometers of airborne gravity gradiometer survey, 60 line kilometers of ground gravity survey and 12 vertical drill holes totaling 1,680 meters. Two coal seams have been discovered on the Company's Armit property in Saskatchewan. Drill holes Arm-09-A1-009 and AR-C-1, spaced 220 meters apart, intersected 9.74 and 9.45 meters of the Lower Coal Seam and 1.26 and 1.22 meters of the Upper Coal Seam with Upper Coal Seam beginning at an average depth of 101 meters and the Lower Coal Seam beginning at an average depth of 110 meters. Additionally, drill holes AR-B-1 and ARX-1, spaced 4.4 kilometers apart, intersected 2.29 and 3.72 meters of coal which is tentatively correlated with the Lower Coal Seam.

Coal samples from the Lower Coal Seam were submitted for proximate analysis and returned the following ranges of calorific values: from 13,486 to 16,828 kJ/kg "as received", from 16,205 to 21,141 kJ/kg "air dry" and from 17,305 kJ/kg to 23,062 kJ/kg "dry". "As received" moisture content from the Lower Coal Seam ranged from 23.47% to 28.01%, "as received" ash content ranged from 15.28% to 29.51%. Total sulfur content varied from 0.98% to 2.17%. Additionally, a 4.4 meters section of re-logged core from Devonian carbonate rocks in drill hole AR/C-2 was identified to include sub-intervals of bitumen impregnation. Two independent gas chromatography tests conducted on the core material returned contradictory results as to the composition and concentration of hydrocarbons. However, the microscope examination of the samples confirmed the presence of solid bitumen in these rocks. The Company intends to continue evaluation of the core material from the Armit property for the presence of hydrocarbons.

The proper testing of the gravity-response model requires that drill holes on the Overflowing property be terminated in Devonian basement rocks. The results from the Overflowing drill program will be combined with the existing drill-hole data from the Armit property and with the remaining geophysical data to update and expand the Company`s geological exploration model for potential coal and hydrocarbon deposition. Based on the existing geophysical and drill program data to date, Saturn has applied for 3,248 hectares of additional coal rights in Manitoba and acquired a 50% interest in 102,757 hectares of petroleum and natural gas rights in Saskatchewan in 2011.

The drill program will be 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. CorePro Drilling Inc. of Tisdale, Saskatchewan is providing all drilling services for the project.

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's first coal discovery was made in 2009 with bituminous coal encountered in 8 of 12 drill holes on its Saskatoba Project. 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

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