Southampton Ventures Inc.

Southampton Ventures Inc.

March 03, 2008 09:54 ET

Southampton Announces a Property Update on Its Winter Drill Program on the Horden Lake Cu-Ni-PGE Project, North of Matagami, Quebec

TORONTO, ONTARIO--(Marketwire - March 3, 2008) - Southampton Ventures Inc. (TSX VENTURE:SV) ("Southampton") is pleased to report that it has successfully completed more than 9,000 metres of the previously announced drill program on its 95% owned Horden Lake Cu-Ni-PGE Property, located approximately 200 km northwest of Matagami, Quebec The Company intends to complete an additional 5,000 metres of drilling on the property before the end of March. The intention of the program is to define the size and scope of the deposit to NI 43 101 standards.

The drill core from the first 8 drill holes have been sent for assay and Southampton will make the data available when it is received. Individual samples were split hydraulically, labeled, placed and sealed in plastic sample bags. Groups of samples were then placed into durable rice bags that were secured by project security tags for shipping. The samples were delivered via bonded carrier to Expert Laboratory's sample preparation facility in Rouyn-Noranda, Quebec.

The Horden Lake deposit was discovered through exploration by a joint venture between Noranda Mines Ltd. and Inco Ltd. in the early to mid-1960s. That joint venture's investigation of the property is reported to have completed 157 diamond drill holes totaling 32,229 metres by the end of 1969.

The Horden Lake deposit then became the subject of a prefeasibility study in 1993 (completed by Watts, Griffis and McOuat ("WGM")) for a subsidiary of Inco. That report estimated in situ geological reserves at 1,238,333 tonnes probable, averaging 1.91% copper (Cu), 0.40% nickel (Ni) and 4,365,428 tonnes possible, averaging 1.27% Cu and 0.38% Ni. This estimate predates NI43-101 and is considered by Southampton to be historical information.

The Horden Lake Project lies at the southwest end of a 40 km long, northeast-trending belt of metavolcanic and metasedimentary rocks intruded by a 1 km wide gabbroic complex, which forms the hanging wall of the Horden deposit. Sulphide mineralization in the Horden deposit is comprised of massive, semi-massive, and disseminated pyrrhotite, pyrite, and chalcopyrite proximal to the basal contact of the gabbro. In addition to copper and nickel, concentrations of platinum, palladium, silver, and gold are also contained within the zones of mineralization. Geological drill sections indicate the contacts and mineralization dip 45-60 degrees northwest.

The Horden Lake Property is comprised of 11,654 hectares. This includes the original 5 claims situated over the historical Horden Lake Cu-Ni deposit. Most recently, Southampton staked 87 new claims along strike to the northeast and southwest. Selection of the new claims was based on favourable geological and geophysical signatures and/or known mineralization.

The current work program is being carried out by Caracle Creek International Consulting Inc. ("CCIC"), of Sudbury, Ontario, under the supervision of Mr. Iain Kelso, P.Geo., a geologist with CCIC and Qualified Person under NI 43-101.


Southampton Ventures Inc. (`Southampton`), is concentrating its efforts on the aggregation and cultivation of developed base metal mining projects. Southampton`s mission and mandate is to assemble advanced exploration properties and existing proven, indicated, and probable ore resources that can be evolved through to bankable feasibility and economic production.

Its current projects include its Horden Lake Copper-Nickel-PGE 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, the Company's recent option on 12 claim blocks (6720 acres) with Noront on a mineral rich property in the McFaulds Lake 'Ring of Fire' 25 kilometres Northeast of the Eagle One Discovery and its Nigerien uranium concessions. Southampton's assets show strong potential and have the support of some of Canada's strongest fundamental resource investors.

Caution Regarding Forward-Looking Statements From time to time, Southampton makes written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbor" provisions of the Ontario Securities Act and the United States Private Securities Litigation Reform Act of 1995. Southampton may make such statements in this press release, in other filings with Canadian regulators or the United States Securities and Exchange Commission, in reports to shareholders or in other communications. These forward-looking statements include, among others, statements with respect to Southampton's objectives for the ensuing year, our medium and long-term goals, and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may," "could," "should," "would," "suspect," "outlook," "believe," "plan," "anticipate," "estimate," "expect," "intend," and words and expressions of similar import are intended to identify forward-looking statements. In particular, statements regarding Southampton's future operations, future exploration and development activities or other development plans contain forward-looking statements. All forward-looking statements and information are based on Southampton's current beliefs as well as assumptions made by and information currently available to Southampton concerning anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments in world gold markets, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Southampton or its joint venture partners; the effects of competition in the markets in which Southampton operates; the impact of changes in the laws and regulations regulating mining exploration and development; judicial or regulatory judgments and legal proceedings; operational and infrastructure risks and the additional risks described in Southampton's most recently filed annual and interim MD&A and Southampton's anticipation of and success in managing the foregoing risks.

Southampton cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Southampton, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Southampton does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Southampton or on our behalf.

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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