Southampton Ventures Inc.
TSX VENTURE : SV

Southampton Ventures Inc.

November 16, 2007 10:57 ET

Southampton Announces NiMo Project, Yukon Results

TORONTO, ONTARIO--(Marketwire - Nov. 16, 2007) - Southampton Ventures Inc. (TSX VENTURE:SV) ("Southampton") is pleased to announce results of its 2007 exploration program on the NiMo Project which is exploring for high grade nickel and molybdenum massive sulphide mineralization in the Yukon Territory. The project currently includes seven claim blocks (El, Pe, Rich, Fox, Deer, Mon and Nick) under option from Strategic Metals Ltd. and one block (Sun) owned by an independent prospector. All are under option to Southampton, which has the right to earn up to a 100% working interest in each claim block under terms described in news releases dated February 27, 2007 and August 20, 2007.

The properties, which in total comprise 29,741 hectares in northern Yukon Territory, were staked to cover occurrences of Middle Devonian-aged stratiform sedimentary exhalative (sedex) massive sulphide mineralization enriched in an unusual suite of elements that can include nickel, molybdenum, zinc, gold, platinum, palladium, selenium and rhenium. Similar mineral occurrences have been recognized in shales in various parts of the world and have mined at some sites in China. This type of mineralization has been termed NiMo, reflecting the unusually high proportions of nickel and molybdenum that are commonly present.

The Nick property hosts the original North American discovery of NiMo-type mineralization. Exploration from 1988 to 1992 intermittently traced a thin, massive sulphide layer around the entire circumference of an 80 square kilometre synclinal basin. Results of 13 diamond drill holes that intersected the sulphide horizon at one end of the basin average 3.01% nickel, 0.20% molybdenum, 0.82% zinc, 0.82% vanadium, 310 ppb platinum and 150 ppb palladium over thicknesses ranging from 2 to 10 cm. Exploration by a major mining company identified other areas on the property where significantly thicker accumulations of mineralization were indicated but no follow-up work has ever been carried out. No work was done on the Nick property in 2007, but it remains a prime exploration target for 2008.

Southampton's 2007 exploration program focused on its other properties and consisted primarily of diamond drilling, mapping, prospecting and geochemical sampling. A total of 6796.21 metres of diamond drilling was done in 59 holes on the El, Pe, Rich, Sun and Fox claims. Two holes were also attempted at the Deer property but they were both stopped prematurely because of difficult ground conditions. The best results to date come from the El, Rich and Deer properties, as described in the following paragraphs.

The El claims cover surface showings that were sampled in 1994 by the Geological Survey of Canada but never explored. A massive sulphide horizon is exposed for 300 m along low cliffs on a river bank and dips shallowly to the south under swampy terrain. That massive sulphide horizon was intersected in 16 of 19 diamond drill holes completed in 2007. The NiMo massive sulphide intervals in those holes returned an arithmetic average of 3.7% nickel, 0.23% molybdenum, 1.07% zinc, 91 ppb gold, 223 ppb platinum, 120 ppb palladium and 26.9 ppm rhenium over an average thickness of 3 cm. The thickest intersection graded 5.2% nickel, 0.16% molybdenum, 1.86% zinc, 120 ppb gold, 317 ppb platinum, 183 ppb palladium and 28.5 ppm rhenium over 14 cm. Exploratory drilling tested the horizon in two areas located about 6 km apart. In each area widely spaced holes were drilled approximately 2000 m along strike and up to 750 m down the shallow dip from the surface showings. There is geochemical evidence to suggest that the mineralization may be continuous between the two areas tested by drilling as well as along strike beyond them. While the metal contents of the NiMo horizon appear to be relatively uniform within each area, it is evident that significant thickening can occur locally. The El property is highly prospective, with more than 12 km of the potentially mineralized strike length to be tested and two broad areas already identified for more detailed drilling.

The Rich property is located within foothills along the western flank of the Richardson Mountains. Here the NiMo horizon is exposed within several deeply incised canyons that cut across stratigraphy for a strike length of 3 km. Geophysical and geochemical surveys have helped define the surface trace of the horizon between these limited exposures and along strike for a total distance of 8 km. A total of 25 diamond drill holes were completed on this property, 11 of which intersected NiMo mineralization. Samples of the massive sulphide horizon returned an arithmetic average of 3.28% nickel, 0.152% molybdenum, 1.03% zinc, 108 ppb gold, 177 ppb platinum, 132 ppb palladium and 18.2 ppm rhenium over an average thickness of 3 cm. The thickest intersection averaged 1.31% nickel, 0.041% molybdenum, 0.104% zinc, 46 ppb gold, 92 ppb platinum, 41 ppb palladium and 9.68 ppm rhenium over 1.96 m. The lateral extent of this substantially thickened interval is unknown, and it is a major exploration target. In total, only about 1/3 of the prospective length of the NiMo horizon on the property has been drill tested and it is open downdip.

The Deer property is located within the Ogilvie Mountains, 10 km east of the Dempster Highway. Mapping, prospecting, geochemical sampling and diamond drilling were conducted on the property by various companies between 1976 and 1998. Results from this work were encouraging. A sample taken from a pyritic black shale outcrop reportedly returned 2.06% nickel, 454 ppm molybdenum, 35 ppb gold and 120 ppb platinum, while soil sampling has delineated a multi-element geochemical anomaly that exceeds 10 km in length. Diamond drilling in 1978 intersected a 5.3 m interval grading 1.42% nickel and 0.70% zinc within a brecciated and altered barite unit. Two drill holes collared in 2007 to test this target were abandoned due to bad ground conditions. The property is drill ready and remains highly prospective.

Richard Patricio, President and CEO, commented: "We are very encouraged by the exceptional continuity and high grade nature of the NiMo mineralization discovered by drilling in 2007. NiMo mineralization is a particularly attractive mining target because of its high concentrations of nickel, molybdenum and zinc, plus a broad suite of other valuable metals that could be important byproducts. The favourable stratigraphy is known to underlie laterally extensive areas on the Company's properties, spanning tens to hundreds of square kilometres. Although most of the drill intersections encountered to date are too narrow to be of direct economic interest, thicker intervals have been discovered. Southampton, its affiliates and academic associates are working to identify structural and stratigraphic controls on the mineralization and to develop mineralogical and geochemical pathfinders that can be used to target particularly rich and thick zones within the larger areas of mineralization when drilling resumes in spring 2008. We continue to be excited and look forward to next year's program."



Assay Summary, Yukon NiMo Mineralization

--------------------------------------------------------------------
Showing Width Ni Mo Zn Pt Pd

(cm) (%) (%) (%) (ppb) (ppb)

--------------------------------------------------------------------
Nick

Discovery 10 5.30 0.18 0.06 1000 390

Showing

--------------------------------------------------------------------
EL

(avg of 16

DDH 3 3.7 0.23 1.07 223 120

intersections)

--------------------------------------------------------------------
El

(DDH EL07-05) 14 5.18 0.16 1.86 317 183

--------------------------------------------------------------------
Rich

(avg of 11

DDH 3 3.28 0.152 1.03 177 132

intersections)

--------------------------------------------------------------------
Rich

(DDH RI07-17) 1 7.04 0.246 1.54 254 158

--------------------------------------------------------------------
Deer

(Historical
less than
DDH 530 1.37 0.01 0.70 69 NA

intersection)

--------------------------------------------------------------------

--------------------------------------------------------------------
Showing Au Ag U Re Se Ni eq(i)

(ppb) (ppm) (ppm) (ppm) (ppm) (%)

--------------------------------------------------------------------
Nick
up to 25.9
Discovery NA NA 280 NA 6.39

Showing

--------------------------------------------------------------------
EL

(avg of 16

DDH 91 NA NA 26.9 NA 4.71

intersections)

--------------------------------------------------------------------
El

(DDH EL07-05) 120 1.42 163.5 28.5 5660 7.56

--------------------------------------------------------------------
Rich

(avg of 11

DDH 108 1.82 31.9 18.2 365 4.09

intersections)

--------------------------------------------------------------------
Rich
greater
than
(DDH RI07-17) 89 2.14 30.5 38.6 1000 8.62

--------------------------------------------------------------------
Deer

(Historical

DDH NA NA NA NA NA 1.44

intersection)

--------------------------------------------------------------------

(i) Ni eq: Equivalent nickel value calculated using November 14, 2007
spot metal prices (Re and Se calculated using October 10, 2007 prices)
(all in US dollars): Ni 15.19$ /lb; MoS2 32.75 $/lb; Zn 1.24 $/lb; Pt
1444 $/oz; Pd 374 $/oz; Au 816.80 $/oz; Ag 15.19 $/oz; U3O8 92.00 $/lb;
Re 7.50 $/g, Se 34.00 $/lb


Analytical work was carried out by ALS Chemex in North Vancouver, British Columbia, an ISO 9001: 2000 certified laboratory. Core samples were dried and crushed to 70% minus 2 mm, before a 1.5 kg split was taken and pulverized to better than 85% minus 75 microns. A split of the pulverized fraction was dissolved in aqua regia and analyzed for 49 elements using the inductively coupled plasma technique (ME-MS61m). Samples that exceed the upper detection limits for nickel, molybdenum and zinc were assayed (Ni-AA62, Mo-AA62 and Zn-AA62 respectively). Core samples from most holes were also analyzed for gold, platinum and palladium using the inductively coupled plasma technique (PGM-ICP23). Due to the thinness and high grade nature of the NiMo horizon, the samples were first assayed for nickel, molybdenum and zinc then analyzed for gold, platinum and palladium to make sure there was enough material for key analyses. If sufficient material remained, the NiMo samples were also analyzed for rhenium by mass spectrometry (Re-MS42) and selenium by X ray fluorescence (Se-XRF05). R. C. Carne, P. Geo., is the Qualified Person responsible for the scientific and technical work for the program as defined under National Instrument 43-101 and has reviewed this press release.

ABOUT SOUTHAMPTON

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, through its 95% ownership of the Horden Lake Copper-Nickel Deposit in Quebec, its 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 and its Nigerien uranium concessions.

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

Contact Information