Scandinavian Minerals Limited

Scandinavian Minerals Limited

September 14, 2007 08:00 ET

Scandinavian Minerals Commences Further Drilling at Kevitsa, Finland Nickel-Copper-PGE Property

TORONTO, ONTARIO--(Marketwire - Sept. 14, 2007) - Scandinavian Minerals Limited (TSX:SGL) today announced that it has commenced a new drill program at its 100%-owned Kevitsa, Finland nickel-copper-PGE property.

The drilling is a multi-purpose program aimed at the following:

- To upgrade a portion of the inferred resources, not currently included in the mine reserve calculation, to a measured and indicated category and obtain better data for pit modelling.

- To further explore to the north of the currently planned open pit, where two holes from last year's infill drilling program identified mineralisation outside the pit limits.

- To collect additional geotechnical data for open pit design.

The planned size of the program is approximately 8,600 metres comprising 27 holes and is expected to take five months to complete. The results are expected to be available at the end of the first quarter of 2008.

Mr. John Pedersen, M.Sc., P.Geo., a director of the Company, acts as the Company's Qualified Person under Canadian National Instrument 43-101 and will supervise the drill program.

The Kevitsa project - an overview

Kevitsa, situated in northern Finland, is one of the world's major undeveloped sulphide nickel deposits and one of the largest mineral discoveries in Finland's history. The Kevitsa deposit is easily accessible by road. Water and hydroelectric power are available nearby.

In April 2007 Scandinavian Minerals commenced the Feasibility Study for the Kevitsa project. The Study is being coordinated by St Barbara LLP (formerly St Barbara Consultancy Services) of London, UK. The metallurgical process has been developed by the Mineral Processing Laboratory of the Geological Survey of Finland. Plant engineering and design is being performed by Outotec Oyj. The Feasibility Study is expected to take approximately 12 months to complete.

The Study is based on an open pit operation mining approximately 5 million tons per year of ore, with production of nickel and copper concentrates for sale to local or overseas smelters.

About Scandinavian Minerals

Scandinavian Minerals Limited is a Canadian public company listed on the Toronto Stock Exchange under the symbol "SGL" and on the Frankfurt Vreiverkehr market under the symbol W3M. The Company's current focus is the development of its 100%-owned Kevitsa nickel-copper-PGE project in northern Finland.

Forward-Looking Statements

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

Contact Information

  • Scandinavian Minerals Limited
    John Kearney
    (416) 203-6128
    (416) 368-5344 (FAX)
    Scandinavian Minerals Limited
    Chris de Saint-Rome
    Corporate Development Advisor
    (514) 802-3377
    Scandinavian Minerals Limited
    Peter Walker
    President & CEO
    (+44) 7717-223909
    Studer Consulting AG
    Marlies Studer
    (+41) 44 215 2803