SNS Precious Metals Inc.
TSX VENTURE : SNS

SNS Precious Metals Inc.

August 31, 2010 12:33 ET

SNS Provides Exploration Update on its Ontario and Idaho Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2010) - SNS Precious Metals Inc. (TSX VENTURE:SNS) (previously "SNS Silver Corp.") ("SNS" or "the company") is pleased to provide an update on its projects and exploration plans on its gold and silver properties located in Ontario and Idaho.

A NI 43-101 compliant technical report is being prepared for the Emerald Lake property in Northern Ontario and will be completed in early September. SNS also plans to commence a minimum 1,500 to 2,000 m diamond drill program which is scheduled for mid-October, 2010. The basis for both the NI 43-101 and the Phase 2 drill program is the Phase 1 drill program conducted at Emerald Lake this past winter. That drilling encountered several high grade gold intersections; the best of which were 171 g/t (5 oz/ton) over 6 feet in hole GR09-29 and 55 g/t (1.6 oz/ton) over 2 feet in hole GR09-23. The lengths reported are drill intersected core lengths and do not represent true widths. The phase one program consisted of 6,717 m of drilling in 30 drill holes. The phase 1 data has been entered into a three dimensional model which will be part of the NI 43-101 as well as the basis for siting drill holes. The phase 2 program will consist primarily of infill drilling designed to intersect the projected extension of the "core" zone" below the historical mine workings. The Emerald Lake property consists of 32 contiguous staked mining claims containing 33 units approximately 528 Ha in area, as well as 8 contiguous leased mining claims containing 20.66 units and approximately 330.53 Ha in area.

In Idaho, United Mining Group, Inc. is in the process of bringing the Crescent Silver Mine back into production. They are presently completing a new portal into the upper country of the Crescent Mine and rehabilitating sections of the Hooper tunnel. The completed ramp is expected to provide access to the Alhambra Vein and the South Vein silver resource in the upper country of the Crescent property that was delineated by earlier SNS drill programs. United Mining Group has an option to acquire an 80% interest in the Crescent Mine from SNS (http://www.unitedmininggroup.com/news-2010-07-10.php). The Crescent Mine is located in the Coeur d'Alene Mining District, the second largest silver district in the world, between the historic Sunshine and Bunker Hill Mines.

SNS is also currently seeking additional precious metal properties to add to its portfolio.

Joerg Kleinboeck, P.Geo., is the designated qualified person responsible for the preparation of this news release. 

SNS PRECIOUS METALS INC.

David Greenway, President

SOURCE: SNS Precious Metals Inc.

This press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

Contact Information

  • SNS Precious Metals Inc.
    David Greenway
    (604) 689-0896 or Toll Free: 1-800-663-4567
    dg@snssilver.com