Stina Resources Ltd.
TSX VENTURE : SQA

November 09, 2010 10:11 ET

Stina Confirms Significant New Discovery in White Gold District

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2010) - Stina Resources Ltd. (the "Company") (TSX VENTURE:SQA) is pleased to announce analytical results from the 2010 soil sampling, trenching, and diamond drilling programs have been received and compiled. The core diamond drill program was conducted in September 2010, and included five core drill holes totalling 657 meters on the Dime Gold Property, confirming it as a very significant new gold discovery in the White Gold District, north of the Kinross (Underworld) Golden Saddle and Kaminak Coffee Properties.

Drilling Highlights include DDH-10-04 which returned 32 m of 0.71 gm/t Au from 59.90 to 92.00 metres, including 9.6 m of 1.1 gm/t Au between 59.90 to 69.50 meters. Additionally, DDH-10-03 intersected 1.5 m of 4.15 gm/t Au from 58.5 to 60.0 meter depth (see table below).

Holes DDH-10-03 and 04 were collared over Trench 04, which returned 0.168 gm/t Au over 30 meters from continuous 5 meter trench samples in August.

Grid Auger soil sampling on 50 by 100 meter line spacing outlined significant gold in soil anomalies on the West, Central, and East soil anomalies (See news release August 11, 2010). Follow-up trenching (1,125 m in 9 trenches) confirmed the soil results from anomalies with better results. Infill soil sampling on 25 by 50 m grid spacing on the East Anomaly confirmed prior results and identified additional areas for further trenching and drilling. These results were received while the drilling program was underway and have not yet been followed up on.

In September the five-hole 625 meter drill program from three separate drill pads was completed, with four holes drilled on the Western Gold Soil Anomaly and one hole on the new large 1.2 by 1.2 kilometre East Gold Soil Anomaly located 2.5 km to the east. All holes intersected significantly anomalous gold. Core samples were collected over 1.5-metre intervals and were processed and analyzed by Acme Analytical Labs.

Drill hole locations can be viewed at www.stinaresources.com/drillmap2010.jpg.

Drill holes DDH-10-01 to DDH10-04 were drilled from two drill pads 185 meters apart on the West Anomaly and intersected a brecciated and silicified east-west trending fault zone with up to 5% pyrite. The fault breccias display multiple episodes of quartz veining and brecciation and have now been traced for over 185 meters between holes DDH-10-01 and DDH-10-04.

DDH-10-03 and DDH-10-04 was collared over Trench 4, and were both drilled at Azimuth 20° at 50° and 75° declinations respectively. DDH-10-03 intersected 1.5 m of 4.15 gm/t Au from 58.5 to 60.0 meters depth. DDH-10-04 intersected 32 m of 0.71 gm/t Au including 9.6 m of 1.1 gm/t Au between 59.90 and 69.50 meters depth.

A late Infill detail soil sampling program over the Central and East (600 soils) Soil Anomaly (with values up to 885 ppb Au, 5,246 ppb As) was completed after the Phase 2 Trenching program. The infill soil sampling program will help the company to vector into the newly outlined gold zones during the 2011 trenching and drilling program.

The Dime Gold Property is a significant new discovery in the White Gold District that warrants further exploration work. Stina is pleased with the results of the 2010 Dime exploration program, and will be planning an airborne magnetic and radiometric survey over the 308-claim block, along with additional trenching and core drilling in 2011. Stina considers these initial core drilling results as the start of a major exploration program on the property, and which will be key in establishing 2011 drill targets. Further details regarding the 2011 Dime and Kodiak programs will be announced in the near future.

2010 Dime Gold Property Drilling Results

  From To Interval (m) Grade (gm/t Au)
         
DDH-10-01 2.50 42.50 40.0 m 0.28 gm/t Au
Includes        
  17.00 18.50 1.5 m 1.35 gm/t Au
  17.00 41.00 24.0 m 0.33 gm/t Au
and        
DDH-10-01 51.50 64.00 13.0 m 0.25 gm/t Au
         
DDH-10-02 23.00 40.50 17.5 m 0.150 gm/t Au
         
DDH10-03 58.50 73.30 14.8 m 0.568 gm/t Au
Includes        
  58.50 60.00 1.5 m 4.15 gm/t Au
         
DDH-10-04 59.90 92.00 32.0 m 0.71 gm/t Au
Includes        
  59.90 69.50 9.6 m 1.1 gm/t Au
         
DDH-10-05 6.10 28.50 22.0 m 0.164 gm/t Au
Includes        
  21.75 22.50 0.75 m 0.726 gm/t Au

There has been insufficient exploration to define a Mineral Resource on the Dime Property, and it is uncertain as to whether, or not, further exploration will result in the discovery of a Mineral Resource on the property. Al Doherty of Whitehorse, YT. is a designated Qualified Person acting for the Company and assisted in the preparation of this news release.

On Behalf of the Board of Directors,

Jim Wall, Controller

Contact Information