Tribute Minerals Inc.

Tribute Minerals Inc.

August 14, 2007 11:58 ET

Tribute Announces Updated Arrow Zone Independent Resource Estimation for the Garnet Lake Property, Confederation Lake Belt, Red Lake Mining District, Ontario, Canada

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2007) - Tribute Minerals Inc. (the "Company" or "Tribute") (TSX VENTURE:TBM) is pleased to announced that it has obtained an independent resource estimate for its Garnet Lake Property, Confederation Lake Belt, Red Lake Mining District, Ontario, Canada.

At a cut-off grade of 3% per cent zinc equivalent, the Broad Oak Associates estimation has resulted in an indicated resource of about 2.071 million tonnes plus an inferred resource of 120,552 tonnes as presented in the following table:

Category Tonnes Zn Cu Au Ag
(%) (%) (g/t) (g/t)
At a 3% per cent zinc equivalent
Indicated 2,070,888 5.92 0.75 0.58 21.1
(Plus an average indium value of 34.6 g/t for 19 out of 24 holes
intersecting the Arrow Zone.)

Inferred 120,552 2.60 0.56 0.40 21.5

At a 5% per cent zinc equivalent
Indicated 1,762,211 6.75 0.79 0.61 22.3
(Plus an average indium value of 28.7 g/t for 18 out of 23 holes
intersecting the Arrow Zone.)

Inferred 51,631 3.86 0.79 0.58 23.8

At a 10% per cent zinc equivalent
Indicated 633,429 14.3 1.11 0.85 31.7
(Plus an average indium value of 55.2 g/t for 10 out of 13 holes
intersecting the Arrow Zone.)

Resource estimations were based on three chosen cut-off grades of 10%, 5% and 3% Zn equivalent, which is equal to the Zn (wt.%) plus 2.4 Cu (wt.%). (Cut off grades are calculated using zinc and copper only. No indium grades have been determined for the inferred tonnage as of this date.)

Until an economic evaluation is completed, the economic cut off for this deposit is unknown, Mineral resources that are not mineral reserves do not have demonstrated economic viability. In consultation with Broad Oak Associates and based upon current base metal prices, the Company has determined that 3% Zinc is the minimum acceptable cut off grade to report. Until an economic evaluation is completed, the economic cut off for this deposit is unknown.

Details of key assumptions, parameters and methods used to estimate the mineral resource.

For the 3% cutoff, a minimum true mining width of three metres was required in order to include an intersection into the resource estimate, however, for the 5 and 10% cutoffs the minimum mining width was reduced to 1.8 metres . The polygon method was used to estimate the size of the Arrow Zone. The grade and true width of each intersection was assigned to a polygon volume of mineralized material comprising of that sample. The polygon boundaries were drawn at half the distance to the nearest adjacent holes. If no drill-holes were in the vicinity then the boundary was drawn 50 metres from the sample. The volumes were then summed up and converted to tonnage.

The rock density was reported for Hole GL97-7 for which measurements of specific gravity were made of the core samples intersecting the Arrow Zone. The average value of 3.151 for a grade of 7.78% Zn, 0.52% Cu, 0.25 g/t Au and 8.73 g/t Ag over 10.45 metres was used for calculating the 5% equivalent cut-off resource. The average value of 3.275 for a grade of 11.7% Zn, 0.64% Cu, 0.33 g/t Au and 11.25 g/t Ag over 6.15 metres was used for calculating the 10% equivalent cut-off resource.

Indium is reported as an average value based upon those drill intersections that were assayed for the element.

The resource estimation of the Arrow Zone is divided into two categories based on the CIM Definition Standards on Mineral Resources and Mineral Reserves prepared by the CIM Standing Committee on Reserve Definitions, November 2004. The company has had a quality control program on its drill core and assaying since the inception of its drilling program.

Broad Oak Associates carried out data verification on drill logs and assay values. The database verification found no discrepancies with the geological information and conforms to industry standards. A site visit was carried out in June 2007.

The total indicated metric tonnage of the Arrow zone for the 3% Zn equivalent cut-off is 2,070,888 tonnes at 5.92% Zn, 0.75% Cu, 0.58g/t Au and 21.1 g/t Ag. Since the release of the previous report in July 2006, this result represents a 62% increase in tonnage and an 18% increase in metal content for the indicated resource in comparison with the previous 5% Zn eq. cutoff, not including the significant indium values. It should be noted that the adoption of the 3% Zn eq. cutoff resulted in the generation of a more coherent geological model of the Arrow Zone mineralized body as a single pod with wider and more consistently predictable mining widths. Additional to the indicated resource, the inferred resource is estimated to be 120,552 tonnes at 2.60% Zn, 0.56% Cu, 0.40 g/t Au and 21.5 g/t Ag.

The Arrow Zone, using the 10% Zn equivalent cut-off, has a high-grade centre of indicated resource of 633,429 tonnes at 14.3% Zn, 1.11% Cu, 0.85 g/t Au and 31.7 g/t Ag, separated to date into two pods based on the high-grade intersections.

Extent to which estimate of mineral resource may be materially effected by any known relevant issues.

Neither the Company's qualified person, Trevor Boyd, Geoff Carter, nor Management of the Company is aware of any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues that may materially affect the estimate of the mineral resource.

Independent Consulting Mining Engineer, Geoff Carter, PEng, of Broad Oak Associates supervised the resource estimation and is the qualified person under National Instrument 43-101 who has reviewed this press release and is writing a full technical report on the Garnet Lake property which Tribute Minerals Inc. will file on SEDAR within 45 days.

The Company currently has 72,243,717 common shares issued and outstanding.

Forward Looking Statements:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Tribute undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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