MONTREAL, QUEBEC--(Marketwire - Jan. 25, 2011) - Stellar Pacific Ventures Inc. (TSX VENTURE:SPX) ("Stellar" or the "Company") announces the signature of an Option Agreement with Tali-Mines SARL, to acquire 100% of the NAMARANA Gold Licence in Mali, West Africa.
The Namarana Licence covers an area of 132 km2 in the Kangaba Circle, approximately 150 Km south-west of Bamako, the capital city of Mali. The property is at a two-hour drive from Bamako and is easily accessible by road.
The area of the Namarana Permit lies within the Birimian Formations, which hosts most of the large gold deposits of the sub-region. The permit area is covered by a regional geochemistry survey done in 1995. A work compilation by Tali-Mines concluded in the presence of 13 gold anomalies ready to follow up. Tali report also mentions the presence of numerous artisan gold digging sites throughout the property.
The NAMARANA permit in Mali consists in the N-E geological extension of the Balandougou mineralized structures in Guinea where Stellar holds a substantial land position. This new area can be developed using the company's facilities in place.
The Namarana licence is currently at a renewal stage and upon completion, Stellar Pacific Ventures will have the option to acquire 100% of the licence by paying $US 60,000 and spending $US 500,000 over a period of three years.
The cash payment and exploration expenditure commitment will be done according to the following schedule:
| At renewal of Permit | $US 15,000 | ||
| 1st Anniversary | $US 15,000 | $US 100,000 | 30% |
| 2nd Anniversary | $US 15,000 | $US 200,000 | 35% |
| 3rd Anniversary | $US 15,000 | $US 200,000 | 35% |
Stellar is pleased with this new acquisition in Mali and is becoming an important player with over 1,100 km2 of gold land in West Africa which is recognized as one of the most prolific areas for gold major discoveries in the world.
The country of Mali has consistently ranked among the first 3 gold producers in Africa and benefits from a very stable political environment as well as good mining jurisdiction on the continent.
Stellar intend to expose rapidly the potential of the Namarana permit by proceeding shortly with an adequate program including detailed soil geochemistry over the most promising area of the permit.
About Stellar Pacific Ventures
Stellar Pacific Ventures (TSX VENTURE:SPX) is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Canada and Africa.
Stellar is dedicated to creating growth by discovering and mining the earth's resources in an efficient and environmentally responsible manner.
The technical content of this press release have been reviewed and approved by Mr. Maurice Giroux, a qualified person as defined in NI 43-101 regulation.
Contact Information: Stellar Pacific
Maurice Giroux
President and CEO
514-866-6299
514-866-8096 (FAX)
Ress.stellar@bellnet.ca
www.stellarpacific.ca