TORONTO, Apr 15, 2008 -- TSX Venture Exchange:TME, Frankfurt Exchange:TQ1 Temex Resources Corp. (TSX Venture Exchange:TME, Frankfurt:TQ1) ("Temex") and partner Mill City Gold Corp. ("Mill City"), (collectively "the Companies"), announce that airborne geophysical surveys have been completed over nine separate claim blocks comprising the Northern Star Eagle and the Southern Star Eagle Claims (the "Claims") in the general area of the Noront Resources Ltd. high grade nickel-copper-platinum group element ("Ni-Cu-PGE") discoveries located near McFaulds Lake in northern Ontario. Preliminary data has been received and initial evaluation suggests the presence of a number of high priority exploration targets similar to the one that highlights the location of the original Noront Eagle One discovery.
Survey Highlights: - 2,200 line-km of state of the art helicopter-borne magnetic ("Mag") and electromagnetic ("EM") surveying was completed. - Mag and EM data was collected along 100-metre spaced flight lines, thereby virtually eliminating the need for significant follow-up ground geophysical programs; there is no known history of exploration on any of the Claims. - Many conductive zones have been outlined, a majority of which have associated, direct correlation with magnetic highs that may be caused by the presence of ultramafic rocks with or without accompanying sulphide mineralization. - Diamond drilling is expected to commence after the spring thaw and once suitable drilling equipment is available.
Mill City has the option to earn a 50% interest in the Claims by spending $2.5 million on exploration over a 3 year period, and is funding 100% of the program; Temex is the operator (news release Dec 12, 2007). The Companies view the geophysical data as the most significant portion of the exploration process to define targets prior to diamond drill testing for the presence of sulphide mineralization because Ni-Cu-PGE mineralization, like that discovered by Noront, produces geophysical signatures that can be detected by airborne geophysical surveys, and because there is very little rock exposure in the area. The Companies expect to be in a position to fully evaluate the data sets over the next month and are in the process of arranging logistics so that a diamond drill program can be commenced in the early part of the summer. The drill program will be fully helicopter-supported so it is necessary that a significant effort be made to streamline the logistics prior to the start of drilling operations. These arrangements are currently in the planning stages and will be implemented over the coming weeks.
Bruce Durham, Executive Chairman of Temex commented, "We are really excited to have outlined so many targets in this completely unexplored area that reaches as far as 100 km to the northwest and 60 km to the southwest of the Noront discovery. It is certainly possible that we will discover significant mineralization at more than one of these targets in the near future."
Follow-up Program
The Companies expect to be in a position to evaluate a number of the best targets over the summer months using a combination of limited ground geophysical surveying and cursory field investigations followed shortly thereafter by initial diamond drill testing. A number of targets occurring on about half of the blocks are currently being planned as drill targets in the first round of drilling slated to begin this summer. The Companies plan to post some of the pertinent geophysical data on their respective websites once the final data has been received and fully evaluated.
Geophysical anomalies that result from the presence of magmatic massive sulphide mineralization (Ni-Cu-PGE bearing sulphides) are typically short length (generally one hundred to several hundred metres long) EM anomalies that have coincident or even significantly larger associated magnetic highs that reflect the presence of a combination of magnetite in the ultramafic rocks (resulting from the process of serpentinization or alteration of the ultramafic host rock) and the sulphides that cause the conductive response. While these characteristics are significantly less obvious as sulphide concentrations decline in a mineralized zone, the best targets, as described above, are the primary targets and would be expected to be the higher grade portions of any mineralized zone.
Bruce Durham, P. Geo., is the designated qualified person responsible for the preparation of this news release. Temex is a well-funded Canadian exploration company advancing its precious metal, nickel, diamond, and uranium projects in Ontario. Investors are invited to visit the Temex IR Hub at http://www.agoracom.com/ir/Temex where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to TME@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.
On behalf of the Board of Directors,
"Ian Campbell"
Ian Campbell
President and CEO
*The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release*
SOURCE: Temex Resources Corp.
Ian Campbell or Bruce Durham at (416) 862-2246
or visit
www.temexcorp.com for more detailed information on each project, and where the latest presentation has been posted
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