Velocity Minerals Ltd.

Velocity Minerals Ltd.

September 15, 2009 04:00 ET

Velocity Minerals Ltd. Announces Commencement of Drilling on Cassiar Moly Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 15, 2009) -

Velocity Minerals Ltd. (TSX:VLC) is pleased to announce that drilling has commenced on its Cassiar Moly property near Cassiar in northern British Columbia.

This season the Company has successfully rehabilitated the extensive adit on the property, completed surface and underground sampling to relocate previously reported highgrade mineralization and computer modelling of the results. The Company is awaiting assay results from the sampling but has commenced a 1,500 meter drill program to begin exploring the extent of the mineralization.

As described in the Velocity Minerals news release on May 7, 2008, strong molybdenite mineralization with quartz and minor chalcopyrite occurs on the property as fracture fillings and replacement disseminations along with quartz and potash feldspathization. Approximately 3,500 feet (1067 m) of underground workings 700 feet (210 m) below surface outcrops were previously directed to the molybdenite zones. As mentioned in the earlier release, there are prior reported surface occurrences of 0.20% Mo across 12 feet to 3.6% across 5 feet and the adit has reported highgrade zones that run up to 4.17% MoS2 over a meter and a combined average grade across 3 meters of 1.64% MoS2. The quoted assays have not been verified in the field by a NI 43-101 Qualified Person and should be viewed with caution.

The Company also wishes to advise that on August 12, 2009 its shares commenced trading through the facilities of the Frankfurt Stock Exchange under the symbol "VMS".

Velocity Minerals Ltd. is a company dedicated to the acquisition and development of advanced or high-grade molybdenum mineral properties. Velocity presently owns the mineral rights to two molybdenum projects in northern British Columbia (Mt. Haskin and Cassiar Moly) and is actively pursuing other properties in North America and internationally.

The TSX has neither approved nor disapproved of the information contained herein.

Contact Information