Southampton Ventures Inc.

Southampton Ventures Inc.

June 06, 2007 09:42 ET

Southampton Announces Agreement to Acquire Horden Lake Cu-Ni Deposit in Quebec

TORONTO, ONTARIO--(Marketwire - June 6, 2007) - Southampton Ventures Inc. (TSX VENTURE:SV) ("Southampton") is pleased to announce that is has signed an agreement with an arm's length private company, Bedrock Capital Corporation Ltd. ("Bedrock"), to acquire 95% of the issued and outstanding shares (the "Shares") of Les Mines Nemiscau Ltee./Nemiscau Mines Limited ("Nemiscau"), a private Quebec company, in exchange for 6.0 million common shares of Southampton. Nemiscau's only asset is six unpatented copper-nickel prospective mineral claims which make up the Horden Lake Copper-Nickel Deposit.

The Horden Lake Cu-Ni deposit covers 98 hectares and is located in the Bay James Area of Quebec, approximately 120 miles north of Matagami, Quebec. The Horden Lake Deposit was discovered through exploration by a joint venture between Noranda Mines Limited and Inco Ltd. in the early to mid 1960s. Nemiscau was the Quebec company created to manage the joint venture in which Inco eventually earned a 75% interest in the Horden Lake Deposit from Noranda. The joint venture is reported to have completed 157 diamond drill holes totalling 32,229 m by the end of 1969. As part of a prefeasibility study in February, 1993 Watts, Griffis and McOuat Limited estimated in situ geological reserves as 1,238,333 tonnes of probable mineralization averaging 1.91% Cu and 0.40% Ni and 4,365,428 tonnes possible mineralization averaging 1.27% Cu and 0.34% Ni.

Grade and tonnage estimates for the Horton Lake Cu-Ni deposit as described in this release are historical in nature. Southampton believes that these estimates are based on systematic drilling, sampling and assaying techniques that were appropriate at the time and are believed to be reliable and relevant. However these estimates predate and are noncompliant with NI 43-101 and as such they should not be relied upon other than to provide an approximate estimate of the resource potential of the property.

Bedrock acquired the right to acquire the Shares from an arm's length private company, 2090720 Ontario Inc. (the "Original Optionor"). The Original Optionor acquired the Shares from CVRD Inco Limited and Xstrata Nickel (successor to Noranda Mines Limited) in February, 2007. From and after closing, the Horden Lake Deposit will be subject a 1% net smelter royalty in favour of the Original Optionor.

The acquisition is subject to the receipt by Southampton of requisite regulatory approval.

Mr. Rod Thomas, a professional geologist and Director of Southampton Ventures, has reviewed and verified the technical content of this press release on behalf of Southampton Ventures and qualifies under the definition of "Qualified Person" set out in National Instrument 43-101.


Southampton is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of nickel, molybdenum, uranium and other minerals. Southampton has an option to earn up to a 100% interest in the Devonian shale hosted nickel-molybdenum-zinc-platinum group elements property known as the NiMo Project located in the Yukon, subject to a 1% net smelter royalty.

This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. 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, risk 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.

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

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