Thundermin Resources Inc.
TSX : THR

Thundermin Resources Inc.

December 08, 2011 14:00 ET

Thundermin and Cornerstone Commence 3,800 Metre Drilling Program at the Past-Producing Whalesback Copper Mine

TORONTO, ONTARIO--(Marketwire - Dec. 8, 2011) - Thundermin Resources Inc. ("Thundermin") (TSX:THR) and 50% joint venture partner Cornerstone Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) announce that they have commenced a diamond drilling program comprising approximately 3,800 metres in 13-15 holes at their 100% owned, past-producing, Whalesback Copper Mine ("Mine"). The Mine, which was in production from 1965-1972, is located approximately 10 km north of Springdale in north-central Newfoundland.

There is potential to outline significant copper resources at shallow depths adjacent to the Mine below and to the west of the old mine workings. The current drill program is designed to outline new copper resources which could, because of their proximity to the Little Deer Copper Deposit ("Deposit"), expand the total mineral resources available for mining and enhance the overall economics of establishing a new mining operation at Little Deer. At this time, the potential discovery of additional mineral resources at the Mine is conceptual in nature and it is uncertain whether further diamond drilling will result in the discovery of additional mineral resources.

John B. Heslop, President and CEO of Thundermin stated "We are extremely pleased t o have been able to recover a large quantity of invaluable diamond drill information for Whalesback from the archives of the Newfoundland and Labrador Department of Natural Resources. This drill information suggests that there are already existing, unmined, copper resources at Whalesback. We believe that there is excellent potential to discover additional economic grade copper resources at relatively shallow depths at Whalesback which could greatly enhance a production decision at Little Deer Copper Deposit where Indicated Resources of 1,911,000 tonnes at an average grade of 2.37% Cu (99.8 million pounds of copper) and Inferred Resources of 3,748,000 tonnes at an average grade of 2.13% Cu (175.9 million pounds of copper) have been outlined to date".

Thundermin and Cornerstone own a 100% interest in the Deposit located approximately 800 m south of the Mine. Thundermin and Cornerstone have outlined significant copper resources at the Deposit since 2007 and the results of a Preliminary Economic Assessment ("PEA") for the Deposit, which was completed in October 2011, indicated that there is potential to develop the Deposit on an attractive economic basis at current metal prices. Information on the Deposit and the PEA is available in news releases issued between May 1, 2007 and November 1, 2011 and on Thundermin's and Cornerstone's respective websites and on SEDAR.

Whalesback Copper Mine

A digital compilation of 107 historical holes drilled in the mineralized zone below and to the west of the old mine workings suggests that there is excellent potential for establishing additional copper resources below and to the west of the areas previously mined. Significant results from the historical drill holes include 4.5% Cu over 6.1 m, 4.0% Cu over 3.4 m, 3.2% Cu over 5.5 m, 3.0% Cu over 4.3 m, 2.9% Cu over 8.4 m, 2.9% Cu over 6.1 m, 2.6% Cu over 4.6 m, 2.5% Cu over 5.3 m, 2.4% Cu over 9.1 m, 2.2% Cu over 5.8 m, 2.3% Cu over 3.1 m, 2.3% Cu over 3.4 m, 2.2% Cu over 8.5 m, 2.1% Cu over 13.1 m and 2.0% Cu over 8.5 m. These assay intervals all approach true widths as many of the holes were drilled from underground and others are of relatively shallow depth (see news release dated October 20, 2011 for additional information on the historical data recovered for the Mine).

Qualified Persons

Mr. Andrew Hussey, P.Geo., Project Geologist and Lands Manager, Cornerstone Resources Inc., is the qualified person ("Q.P.") responsible for the compilation of all of the historical data on the Mine for the purposes of NI 43-101. Mr. Hussey is also the Q.P. that is responsible for supervising the drilling program at the Mine. Mr. Hussey has reviewed the contents of this news release for accuracy and approved its release.

The positive PEA and the updated NI 43-101 compliant mineral resource estimate for the Deposit were prepared under the supervision of Mr. Eugene J. Puritch, P. Eng., President of P&E. Mr. Puritch is an independent Q.P. in accordance with NI 43-101.

Little Deer Joint Venture

Under the terms of its joint venture agreement with Cornerstone, Thundermin has the right to increase its interest in the Little Deer property to 75% by completing a feasibility study and by arranging 100% of the necessary bank financing required to place the property into commercial production.

About Thundermin

Thundermin is a Canadian-based mineral exploration company focused on the exploration for and the discovery of economically viable base metal and gold deposits in Canada. Thundermin has an interest in, or the right to earn an interest in 12 base metal and gold properties in Canada. Thundermin owns a 100% interest in the Lebel Township gold property, which is located on the Kirkland Lake Main Break in the prolific Kirkland Lake gold camp. Thundermin recently acquired the right to earn a 100% interest in eight exploration licenses covering a large portion of the Stirling volcanogenic massive zinc-lead-copper-silver-gold sulphide belt located on Cape Breton Island, Nova Scotia. Thundermin has royalty interests in 28 base metal and gold properties located in Manitoba, Saskatchewan, British Columbia and Quebec, the most significant being a 2.5% net smelter return royalty in the Pelletier Lake gold deposit which is under option to Alexis Minerals Corporation. Thundermin also has various shareholdings in thirteen other junior resource companies that are actively exploring for base metal, gold, chrome, vanadium-titanium and diamond deposits in Canada.

Forward-Looking Statements

This news release may contain "Forward-Looking Statements" that involve risks and uncertainties, such as statements of Thundermin's plans, objectives, strategies, intentions and expectations. The words "potential," "anticipate," "forecast," "believe," "estimate," "expect," "may," "project," "plan," and similar expressions are intended to be among the statements that identify "Forward-Looking Statements". Although Thundermin believes that its expectations reflected in these "Forward-Looking Statements" are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings that can be viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behavior of financial and metals markets and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our "Forward- Looking Statements". Although Thundermin believes the facts and information contained in this news release to be as correct and current as possible, Thundermin does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views subsequent to the date of this news release.

For further information on Thundermin Resources Inc. please visit Thundermin's website at www.thundermin.com or the SEDAR website at www.sedar.com.

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