Honey Badger Exploration Inc.

Honey Badger Exploration Inc.

April 03, 2008 10:23 ET

Telkwa Gold Corp. Completes Airborne EM and Magnetometer Survey on Iron Cap Property in Copper-Rich Yerington District of Nevada

TORONTO, ONTARIO--(Marketwire - April 3, 2008) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICE

Telkwa Gold Corporation (TSX VENTURE:TKW) ("Telkwa" or the "Company") is pleased to announce it has completed a high-resolution electromagnetic (EM) airborne survey over its Iron Cap Property located in the historical, copper-rich Yerington District of Nevada.

A total of 1,321 line kilometers were flown at 100-metre spacing over two different claim blocks. Fugro Airborne Surveys conducted the survey using a fixed-wing aircraft with the GEOTEM time-domain EM system.

The Company expects to receive preliminary data from this airborne survey within the month. This will be followed up with a re-manipulation of the AEM data to determine if it can define porphyry copper style mineralization. It is anticipated that this survey work will greatly reduce the amount of ground geophysical work required to define favorable drill targets. Additional prospecting, mapping and geochemical sampling will all be utilized to enhance Telkwa's drill target selection process.

The Company is currently preparing a full-scale exploration program and anticipates preliminary drilling to commence in the summer/fall of 2008. The program will be managed by Michael Marchand, P. Geol. and Vice President of Exploration for Telkwa in conjunction with Taiga Consultants of Calgary, Alberta who will also assist in the execution of the exploration work.

The Company recently added 305 claims to its core holding of 55 claims and currently controls approximately 5,400 acres of prospective ground. The Company's expanded land package has positioned it directly contiguous to Quaterra Resources' and Pacmag Resources' respective land positions; two companies that have drill-indicated porphyry copper reserves of significance.

On its Stealth and Warm Springs gold properties, located in the Tonopah area of Nevada, the Company is planning geological, geochemical and geophysical programs with the intent of defining drill targets which should be ready for drill testing in the latter part of this year.

Administration

The Board of Directors of the Company granted 2,450,000 stock options on April 2, 2008 to directors, officers and consultants of the Company under the terms of the incentive stock option plan of the Company filed with the TSX Venture Exchange and approved by shareholders at the last annual general meeting of shareholders of the Company held on June 28, 2007. The options are exercisable at a price of $0.10 per share for a period of four years and are subject to a four-month hold period from the date of the issuance thereof.

About the Company

Telkwa's current exploration focus is in Nevada, where it has three properties; the Iron Cap Copper-Gold Property, and the Warm Springs and Stealth Gold Properties.

Please visit Telkwa's website at www.telkwagold.com for corporate information, reports and images of our exploration projects.

The head office of Telkwa has relocated to 520-141 Adelaide Street West, Toronto, Ontario, Canada M5H 3L5. Michael Marchand, P. Geol, will continue to operate from Telkwa's Calgary Office.

Bill Nielsen, P. Geo, Director is the designated qualified person for the technical information contained in this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

This news release is not for dissemination in the United States or to any United States news service, and does not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction. The common shares of Telkwa Gold Corp will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption there from.

SEDAR: 00008705E

Contact Information

  • Telkwa Gold Corporation - Toronto Office
    Brent Nykoliation
    Director of Business Development
    (416) 364-4986

    Telkwa Gold Corporation - Toronto Office
    J. A. Kirk McKinnon
    President and CEO
    (416) 364-4986

    Telkwa Gold Corporation - Toronto Office
    Richard Schler
    Vice President and CFO
    (416) 364-4986
    (416) 364-2753 (FAX)
    info@telkwagold.com
    www.telkwagold.com

    Telkwa Gold Corporation - Calgary Office,
    Michael Marchand, Ph.D., P. Geol.
    Vice-President of Exploration
    (403) 282-5105