Stealth Minerals Limited

Stealth Minerals Limited

October 11, 2005 09:00 ET

Stealth Minerals Limited: Sickle Creek Geochemical Survey Produces Several Gold Prospects

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 11, 2005) - Stealth Minerals Limited (TSX VENTURE:SML) -

In 2003, the Company discovered high-grade gold, up to 100 grams per tonne, in massive sulphide veins in Griz Bowl and up to 18 grams gold per tonne in quartz carbonate veins 2,000 metres to the north at Quartz Lake. Both discoveries were associated with high-grade silver that assayed up to 2,200 grams per tonne in massive sulphide and up to 870 grams per tonne in the quartz carbonate veins. The discoveries led the Company to conduct successful first phase drill programs at both locations in 2004.

The 2003 discoveries also provided the motivation to conduct a large-scale geological and geochemical survey of the Sickle Creek area in 2004. The grid extends 2,000 metres north and 3,500 metres east of Quartz Lake to the Toodoggone River and then 6,000 metres south to Jock Creek encompassing an area exceeding 30 square kilometres. The western edge of the grid includes the Quartz Lake gold prospect where Stealth drilled 11 core holes into two of the five known gold and silver bearing Quartz Lake veins. The drill program identified low-sulphidation gold and silver veins up to 14 metres thick that cut older high-sulphidation alteration assemblages. Very early in the execution of the survey, the Sofia copper-gold porphyry outcrop was discovered, which we now know is just one of several highly prospective targets in the area.

The following gold-silver and copper-gold showings occur within this survey area. Four distinct styles of mineralization have been identified to date:

- Griz Veins-high-grade gold news release August 28th 2003;

- Quartz Lake-Stealth news release September 2nd 2004;

- Alexandra-see Stealth news release September 29th 2005;

- BS Zone-subject of this news release October 11th 2005;

- North Vein-upcoming news release;

- Sofia-upcoming news release.

The survey grid consists of blazed and flagged lines spaced at 200 metres and sample sites every 50 metres on each line. The geology in the grid area was systematically prospected and mapped for the first time and about 2,000 soil and rock samples were taken and subject to 30 gram fire assays. This prospecting method is time consuming and expensive but it delivered exceptional results as three new gold and silver prospects were identified as well as one copper-gold porphyry occurrence. In addition, four additional areas of elevated copper, silver and gold values remain to be more intensely prospected.

The BS Zone was discovered in 2004 as a gold-in-soil anomaly, which is related to an extensive area of alunite alteration east of Quartz Lake. The 2005 program in this area increased the extent of high-grade gold and silver mineralization in both low- and high-sulphidation epithermal settings. The BS Zone gold geochemical anomaly also occurs within an advanced argillic alteration zone. Gold-in-soils occur along a 550 metre portion of a soil line with an average of 300 ppb gold with values up to 1,000 ppb gold (one gram per tonne in soil). The BS Zone is approximately 1,000 metres east of Quartz Lake and 1,400 metres northwest of the Alexandra prospect. Mineralization at the BS Zone is hosted in similar volcanic rocks that occur at Alexandra.

A further 200 metres to the northwest of the BS Zone anomaly, a massive alunite replacement alteration zone is 200 metres wide and 1,000 metres long and contains a high proportion of barite and silica. At the base of this alunite layer semi-oxidized tetrahedrite and enargite with associated arsenic oxide were located near a 770 ppb gold-in-soil anomaly. Rock samples returned up to 1.4 grams per tonne gold and 114 g/t silver with greater than 10,000 ppm arsenic and 10,000 ppm antimony. This may be a separate zone or a continuation of the BS Zone.

Stealth holds a 100% interest in the BS Zone, which is subject to a net smelter return royalty in favour of Electrum Resource Corp.

The BS Zone and the immediate area are high-priority bulk tonnage gold prospects scheduled for detailed mapping and sampling in 2006 with a view to upgrading it to drill ready status.

Assaying on samples mentioned in this news release was conducted by Assayers Canada and Acme Analytical of Vancouver and Eco-Tech of Kamloops, BC. All assays are 30 gram fire assays with 28-element ICP. Field work was under the direction of Dave Kuran, P. Geo., who also compiled and interpreted the data and who is the qualified person for the Company.


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