Tarsis Capital Corp.

Tarsis Capital Corp.

June 11, 2008 14:25 ET

Tarsis Expands Discovery Horizon and Details Drill Plan at MOR

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 11, 2008) - Tarsis Capital Corp. (TSX VENTURE:TCC) ("Tarsis") is pleased to announce the commencement of its 2008 exploration program at the company's 100% owned MOR property in southern Yukon, which hosts Volcanogenic Hosted Massive Sulphide (VHMS) mineralization. Diamond drilling of the first hole of the planned 1,600 metre program has begun.

In 2007 diamond drilling successfully tested one of several targets on the property, referred to as the Discovery Horizon, identifying a continuous series of stacked sulphide lenses for a strike length of 300 m and up to 175 m down-dip. The 2008 program will focus on defining the lateral and down-dip extent of this mineralization.

Condor Consulting Inc., recognized experts in the field of airborne electromagnetic (EM) surveys, has been retained to perform a detailed interpretation of the recently acquired property-wide Versatile Time Domain Electromagnetic (VTEM) and local grid Induced Polarization (IP) geophysical data.

Interpretation of the rendered VTEM data suggests a buried conductor associated with the Discovery Horizon is much more laterally extensive than first anticipated (to see the attached map, please click on the following link: http://media3.marketwire.com/docs/TCC0611.jpg). A continuous series of EM "picks" is defined for approximately 1,600 m along the projected easterly trend of the Discovery Horizon. The surface trace of the Discovery Horizon is not only supported by the EM picks but also coincides with a well defined zinc-copper-lead in soil geochemical anomaly.

A detailed examination of the IP data collected in 2004 indicates the presence of a second untested conductor located north of and parallel to the Discovery Horizon. No drill holes have yet been located to test this target.

A combined geophysical and soil geochemical anomaly map shows the historical and proposed 2008 diamond drilling. The highest geochemical values for copper are located approximately 300 metres east of the easternmost drill section from 2007. The strong isolated copper response could be an indication of vent proximity. Holes "a", "b" and "c" are designed to test the continuity of the Discovery Horizon and the potential for thickening sulphide accumulation in the interpreted vent proximal direction.

Hole "d" will test for an increase in grade and thickness beneath MOR-07-02, which returned a collective sulphide thickness of 15.49 metres in three lenses. Holes "e" and "f" are intended to test lateral continuity between the section lines spaced 200 m apart and west of MOR-07-02.

In addition to the Discovery Horizon, the MOR property has a number of additional VTEM anomalies that Tarsis is presently evaluating with geological personnel on the property. Tarsis plans to drill test at least one of these additional targets during the 2008 season.

Tarsis is a junior exploration company following the prospect generator business model, with six mineral properties in Yukon, Canada and one in Mexico. The Company has two key properties, Goz Creek and MOR, which it is exploring itself while seeking joint venture partners for its other properties.

The Company currently has 11,767,970 shares issued and outstanding.

The qualified person responsible for the technical content of this news release is Mr. William A. Wengzynowski, P.Eng.

On behalf of the Board of Directors,

Tarsis Capital Corp.

Marc G. Blythe, P.Eng., MBA., President and Chief Executive Officer

The TSX Venture Exchange does not Accept Responsibility for the Adequacy or Accuracy of this Release.

Contact Information

  • Tarsis Capital Corp.
    Marc G. Blythe, P.Eng., MBA.
    President and Chief Executive Officer
    (604) 689-7644
    Tarsis Capital Corp.
    Mark T. Brown, C.A.
    Chief Financial Officer
    (604) 687-3520
    Email: info@tarsis.ca
    Website: www.tarsis.ca