Stealth Minerals Limited

Stealth Minerals Limited

October 13, 2005 09:30 ET

Stealth Minerals Limited: Louis Prospect Confirmed as a High-Priority Exploration Target

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 13, 2005) - Stealth Minerals (TSX VENTURE:SML) staked the Louis claims in May 2004 based on data generated by a Geological Survey of Canada airborne geophysical survey flown in the Toodoggone area in the summer of 2003. The regional airborne geophysics clearly outlines a large-scale arcuate feature, which represents total potassium-high with corresponding potassium-thorium low. The potassium-high alteration wraps around a magnetic high, which possibly represents the alteration pattern of a buried intrusive body. This geophysical signature confirms the extensive hydrothermal potassic alteration zone that was recognized by previous workers in surface samples and particularly in drill holes.

Stealth Minerals conducted PIMA alteration studies on surface samples and historic drill core, which confirmed argillic and advanced argillic alteration suites with distal propylitic alteration. Based on fieldwork, five additional claims were staked and the prospect now consists of nine contiguous claims totalling 3,444 hectares. The property is 100% owned by Stealth and is not subject to a net smelter return royalty.

The claims are located in the western portion of the Toodoggone volcanic belt on the same regional fault and splay system that hosts the Al, Lawyers, Baker and Shasta deposits all of which produced gold and silver. The property is road accessible and adjoins the Lawyers property to the north. Between 1971 and 1989 approximately $977,000 was spent on these claims by several different companies.

The Attorney and Cliff Creek faults, which have historically produced gold and silver ore at Lawyers, are subject to a current Bishop Gold drill program to the south of the Louis claims. These mineralized fault and splay systems with related silicification and quartz veins, cut the Louis claims and conform to the northwest fabric of the district. Historic exploration that included a total of 42 shallow drill holes, Induced Polarization geophysics and minor trenching partially tested an area of 1,200 by 2,000 metres. This work resulted in the identification of a large and intense potassic alteration zone with extensive zones of silicification and quartz veining that host epithermal style gold and silver mineralization.

Historic exploration at Louis focused on the northwest trending and sub-parallel West Vein, which outcropped, and the East Vein that did not. Both veins were traced in drill holes over several hundred metres. The West Vein dips to the northeast and the East Vein dips to the southwest. Core drilling tested the mineralized zones to a maximum depth of 100 metres starting at an elevation of approximately 1,250 metres. The low level of pyrite and the absence of base metals to the depth of historic drilling suggest that the property has high-potential for a Lawyers style epithermal gold and silver deposit at depth. In addition, Stealth geologists believe that the veins may converge at depth into a thicker and more coherent gold and silver system but this hypothesis was never tested.

On the eastern margin of the Toodoggone district in the Sickle Creek-Sofia area, about 30 kilometres east of Louis, erosional and deeper stratigraphic levels of Jurassic Toodoggone volcanics host high-grade gold and silver in both low- and high-sulphidation epithermal style vein mineralization, which occurs in drill core 200 to 300 metres above the Sofia outcrop. Sofia is described as a copper-gold bearing Jurassic porphyry system that outcrops at 1,100 metres elevation.

The Company believes that its generative model of the Sickle Creek-Sofia geology demonstrates that multiple gold and silver epithermal systems are telescoped above Jurassic copper-gold porphyry systems and that model may also apply to the mineralized sequence on the Louis prospect.

The weight of the geological evidence suggests at Louis, including the geophysical signature, the possibility of an epithermal deposit with deeper potential to discover a causative copper-gold mineralized porphyry system.

Louis represents a high-priority and large-scale exploration target that will be subject to further drilling and geological surveys, with a focus on deeper drilling by Stealth Minerals in 2006.

Field work was under the direction of by Dave Kuran, P. Geo., who also compiled and interpreted the data and who is the qualified person for the Company.


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