Suramina Resources Inc.
TSX : SAX

Suramina Resources Inc.

June 09, 2008 08:32 ET

Suramina Intersects More High Grade Silver at Cerro Cuadrado Project in Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2008) - Suramina Resources Inc. ("Suramina") (TSX:SAX) is pleased to announce that drilling at the Company's Cerro Cuadrado project continues to return significant high grade silver results. Cerro Cuadrado is a polymetallic epithermal vein system in Santa Cruz province, Argentina. A third phase program comprising 4334 metres of diamond drilling in 24 holes has been completed. Please see attached map showing completed drill holes, geology and access roads (To view accompanying map please click on the following link: http://media3.marketwire.com/docs/SAX_Map609.jpg).

Each drill program to date at this highly promising project has not only returned encouraging assay results but has increased the known extent of the vein system. Currently the system is known to extend over 10 kilometres and remains open in all directions. Several strongly anomalous zones to the north of the system have been recently identified which will be tested for possible continuity in upcoming programs.

The following table summarizes available results from the current program.



--------------------------------------------------------------------------
Drill Depth From To Interval Ag Au
Hole Target (m) (m) (m) (m)(i) g/t Zn% Pb% g/t
--------------------------------------------------------------------------
CC-15(ii) Veta 201.9 31 32.35 1.35 321 1.69 0.57 less
Galena than
0.1

including 150.2 151.8 1.6 12 5.7 0.46 less
than
0.1
--------------------------------------------------------------------------
CC-16 Veta 197.4 75.35 82.6 7.25 120.35 3.92 0.62 less
Galena than
0.1

including 75.35 79.2 3.85 55.26 10.58 1.94 less
than
0.1
--------------------------------------------------------------------------
CC-18 including 204.85 209.1 4.25 7.5 3.23 0.5 less
than
0.1
--------------------------------------------------------------------------
CC-19 Veta 200 138.2 140.5 2.3 232 9.26 2.85
Galena
--------------------------------------------------------------------------
CC-20 Veta 230 84.6 89 4.4 433 3.72 1.3 0.12
Grande
including 86.1 89 2.9 762.5 7.06 2.77 0.14

including 96.05 97.7 1.65 48.4 8.17 4.72 0.25
--------------------------------------------------------------------------
CC-21 Veta 110 61.3 67.35 6.05 105.4 6.71 1.87 0.72
Blanca

including 61.3 64.9 3.6 168.2 8.08 2.33 0.88
--------------------------------------------------------------------------
CC-22 Veta 100 48.55 54.2 5.65 434.36 7.46 5.23 0.43
Blanca
--------------------------------------------------------------------------
CC-23 Veta 100.6 29.5 31.2 1.7 11 2.36 0.47 less
Blanca than
0.1

and 40.25 41.5 1.25 14 3.44 0.44 0.13
--------------------------------------------------------------------------
CC-24 Veta 249.9 112.8 138.8 25.95 183 4.8 0.8 0.2
Blanca

including 124.05 128.8 4.7 907.9 4.53 1.02 0.12

including 130.65 138.8 8.1 40.5 7.17 1.34 0.39
--------------------------------------------------------------------------

(i) Intersections are drilled widths, not true widths. True widths are
less than drilled intersections.

(ii) Please note that in a previous press release (January 15, 2008)
results from Hole CC-15 were inadvertently reported as belonging to
Hole CC-16.


Results from Holes CC-17 and CC-25 to CC-38 have assays pending.

For reference, please also find attached the previously reported results from the first two drill programs.

A gradient and dipole IP geophysics survey is currently being carried out, infilling and stepping out previous surveys, to identify new conductive anomalies and also define favourable kinks and bends which typically contain the mineralized ore shoots. Preliminary results of the gradient survey indicate strong conductive anomalies in the northern area of the project.

The Cerro Cuadrado mesothermal system consists of Zn, Ag, Pb, and minor Au polymetallic structures hosted by ryolithic to andesitic volcanic rocks of Jurassic age. The structures associated with mineralization present several silica pulses defined by breccias, bladed calcite, banded and crustiform veins among others. The width of the structures range between 1.5 meters to 26 meters in the best intercept. A detailed alteration and structural study is actually carried out on the structures to understand the behaviour and location of the mineralization.

The Company is very pleased with the results received to date and looks forward to continued success on this growing, high potential project.

Suramina's exploration programs are carried out under the direction and management of J. Patricio Jones (PhD). Dr. Jones and his team discovered the Veladero gold deposit in Argentina and was responsible for the initial development of the Bajo de Alumbrera copper-gold project. The technical contents of this release have been reviewed and verified by Mr. Paul K. Conibear, P.Eng., Director of Suramina Resources Inc., who is an appropriately qualified person as defined by National Instrument 43-101. Samples of boreholes CC-15 and CC-16 were sent to ALS Chemex labs in Mendoza Argentina and Santiago, Chile, for analysis using conventional ICP methods with multi-acid digestion. A 50 gram fire assay with AA (atomic absorption) finish is run on all samples for gold. A series of blanks are routinely introduced with each batch of samples. Quality controls include preparation and analysis statistics performed to industry standards. Samples from borehole CC-17 to CC-38 were sent to ACME analytical labs in Mendoza Argentina and Santiago, Chile, for analysis using conventional ICP methods with multi-acid digestion. A 50 gram fire assay with AA (atomic absorption) finish is run on all samples for gold. A series of blanks are routinely introduced with each batch of samples. Quality controls include preparation and analysis statistics performed to industry standards.

Forward-Looking Statements

Certain information regarding the Company set forth in this press release, including the Company's future plans contains forward looking statements that involve substantial known and unknown risks and uncertainties. These forward looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's and management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, imperfection of mineral estimates, environmental risks, industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. The Company's actual results, performance or achievements could differ materially from those expressed in or implied by, these forward looking statements and accordingly, no assurance can be given that any of the events anticipated to occur or transpire from the forward looking statements will provide any benefits to the Company.

On Behalf of the Board

J. Patricio Jones, President and CEO



Holes CC-01 to CC-07 Previously Reported

--------------------------------------------------------------------------
DEPTH INTERVAL(i) From To
DDH (m) (m) (m) (m) g/t Ag % Zn % Pb g/t Au
--------------------------------------------------------------------------
CC-01 81.00
2.05 23.00 25.05 338.00 4.77 2.63 0.23
incl. 1.55 23.50 25.05 494.00 7.08 3.88 0.34
incl. 0.55 24.50 25.05 873.00 10.35 6.80 0.43
2.30 70.30 72.60 79.60 11.26 1.03 less
than
0.1
incl. 1.40 71.20 72.60 111.10 15.55 1.44 0.13
--------------------------------------------------------------------------
CC-02 69.20
3.30 21.90 25.20 84.05 2.71 0.64 0.18
incl. 2.60 22.60 25.20 96.46 3.02 0.66 0.18
0.90 51.50 52.40 38.90 2.06 1.91 less
than
0.1
--------------------------------------------------------------------------
CC-03 64.30
4.45 24.45 28.90 18.80 1.93 0.60 less
than
0.1
incl. 2.35 26.55 28.90 20.95 3.10 0.99 less
than
0.1
incl. 0.55 26.55 27.10 58.10 7.30 3.15 0.12
0.40 49.30 49.70 28.60 4.55 1.42 0.13
1.60 60.40 62.00 10.10 1.16 0.30 0.12
--------------------------------------------------------------------------
CC-04 75.20
0.50 34.60 35.10 14.10 1.79 0.57 0.12
0.95 72.05 73.00 9.60 1.06 0.20 0.17
--------------------------------------------------------------------------
CC-05 81.30
3.70 23.70 27.40 172.00 0.61 0.33 less
than
0.1
incl. 0.75 23.70 24.45 353.00 0.60 0.25 0.25
incl. 0.55 25.45 26.00 229.00 0.86 0.68 0.03
1.80 41.00 42.80 190.00 1.95 0.40 less
than
0.1
incl. 0.90 41.40 42.30 441.00 4.34 0.84 less
than
0.1
--------------------------------------------------------------------------
CC-06 66.10
0.25 15.10 15.35 63.90 7.65 4.58 0.27
0.50 34.90 35.40 10.10 1.51 0.67 less
than
0.1
--------------------------------------------------------------------------
CC-07 108.45
1.00 26.05 27.05 53.00 2.19 0.92 less
than
0.1
0.50 56.10 56.60 1880.00 2.18 1.28 less
than
0.1
0.25 59.40 59.65 248.00 3.62 0.56 less
than
0.1
1.70 69.45 71.15 8.10 3.80 1.08 less
than
0.1
1.40 94.50 95.90 270.00 0.43 0.34 less
than
0.1
--------------------------------------------------------------------------
CC-08 103.00
3.26 40.80 44.06 109.36 4.63 1.83 less
than
0.1
incl. 0.20 40.80 41.00 28.20 9.44 0.32 less
than
0.1
incl. 0.80 43.26 44.06 433.00 16.00 7.34 less
than
0.1
--------------------------------------------------------------------------
(i) Intersections are drilled widths, not true widths. True widths are
less than drilled intersections.


Holes CC-09 to CC-14 Previously Reported

--------------------------------------------------------------------------

DEPTH INTERVAL(i) From To
DDH (m) (m) (m) (m) g/t Ag % Zn % Pb g/t Au
--------------------------------------------------------------------------
CC-09 200.00
2.70 77.50 80.20 214.00 11.82 2.78 0.34
incl. 0.90 78.40 79.30 223.00 21.80 5.58 0.62
1.82 167.68 169.50 12.84 1.94 0.32 0.14
4.85 181.65 186.50 13.43 2.24 0.52 less
than
0.1
incl. 0.80 181.65 182.45 26.20 3.02 0.55 0.12
incl. 0.83 183.45 184.28 21.40 7.30 1.78 0.18
incl. 0.50 186.00 186.50 27.30 2.18 0.52 0.01
--------------------------------------------------------------------------
CC-10 131.20
1.54 46.13 47.67 253.00 7.92 1.80 0.39
--------------------------------------------------------------------------
CC-11 101.90
1.60 46.70 48.30 118.62 0.67 0.27 less
than
0.1
incl. 0.60 46.70 47.30 153.00 1.20 0.52 0.12
3.90 50.00 53.90 85.11 0.21 0.07 0.02
incl. 0.70 53.20 53.90 132.00 0.22 less less
than than
0.1 0.1
--------------------------------------------------------------------------
CC-12 197.80 without significant values
--------------------------------------------------------------------------
CC-13 148.80
0.83 8.17 9.00 134.00 4.95 1.31 0.12
6.00 19.00 25.00 111.81 0.93 0.23 0.17
incl. 1.00 19.00 20.00 153.00 0.93 0.61 less
than
0.1
incl. 1.00 20.00 21.00 169.00 0.61 0.22 0.15
incl. 1.00 23.00 24.00 160.00 0.18 1.06 0.20
0.50 65.20 65.70 110.00 12.30 2.22 0.12
0.94 99.90 100.84 22.20 2.43 1.13 less
than
0.1
2.20 115.20 117.40 22.00 5.68 0.97 0.15
incl. 1.00 115.20 116.20 39.30 10.65 1.94 0.24
0.75 131.65 132.40 13.40 2.53 0.35 0.17
--------------------------------------------------------------------------
CC-14 172.80
1.51 57.46 58.96 138.00 0.30 less less
than than
0.1 0.1
0.50 83.45 83.95 179.00 0.97 less less
than than
0.1 0.1
0.55 137.75 138.25 684.00 0.75 less less
than than
0.1 0.1
4.40 154.35 158.75 994.71 1.96 1.26 less
than
0.1
incl. 0.65 154.35 155.00 2370.00 3.58 3.88 less
than
0.1
incl. 1.00 155.00 156.00 884.00 2.09 1.36 less
than
0.1
incl. 1.00 156.00 157.00 772.00 1.34 0.50 less
than
0.1
incl. 1.00 157.00 158.00 722.00 1.27 0.45 less
than
0.1
incl. 0.75 158.00 158.75 611.00 2.16 0.99 less
than
0.1
1.00 161.00 162.00 26.00 1.52 0.43 less
than
0.1
1.00 163.00 164.00 97.60 0.68 0.17 less
than
0.1
--------------------------------------------------------------------------
(i) Intersections are drilled widths, not true widths. True widths are
less than drilled intersections.

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