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Re: News Release - Friday, January 25, 2008
Copper Ridge Acquires Clear Lake Zinc-Lead-Silver Deposit
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COPPER RIDGE KRX-TSX.V
PRESS RELEASE No. 02/2008
Vancouver, BC, January 25, 2008 -- Copper Ridge Explorations Inc.
("Copper Ridge" or the "Company") announces that it has agreed to terms
whereby it may acquire a 100% interest in the Clear Lake
zinc-lead-silver deposit, located 70 km east of Pelly Crossing and 225
km north of Whitehorse, Yukon. Terms of the acquisition include
payments of $160,000 and the issuance of 500,000 shares over 5 years,
plus a payment of $10,000 and 250,000 shares if an interest in the
property is farmed out or sold to a third party. The vendor will retain
a 2% Net Smelter Royalty, � of which can be purchased for $1.5 million.
Historical Resource Estimate
Clear Lake was first explored in 1965. Drill programs in the late
1970's and the early 1990's have included a total of 18,219 m in 71
drill holes. The Yukon Geological Survey Minfile database reports a
"geological reserve" of 5,570,114 tonnes with an average grade of 11.4%
zinc, 2% lead and 38.01 gpt silver. This resource is quoted here for
historical information and it is not being treated as a current reserve
or resource by the Company. The term "geological reserve" is not
compliant with current accepted reserve and resource classifications as
set forth by the Canadian Institute of Mining and Metallurgy Definition
Standards. The reader is cautioned that it does not conform to
National Instrument 43-101 requirements for reporting reserves and
resources. It has not been verified by the issuer's qualified person
and should not be relied upon.
Geological Setting
Clear Lake is a barite associated, shale hosted sedimentary exhalative
massive sulphide deposit that occurs in Devonian-aged Earn Group
sediments within the Selwyn Basin. The pyritic massive sulphide body is
sigmoidal in shape, approximately 1,000 m in length and up to 120 m
wide. Zinc-lead rich lenses are 5 to 30 m thick, 450 m in length and
extend at least 300 m down dip. The Company believes there is excellent
potential for the discovery of additional zinc-lead-silver
mineralization.
The Company plans to acquire and compile as much of the historic
property information as possible prior to planning ongoing exploration
that will lead to the estimation of a National Instrument 43-101
compliant mineral resource. Mr. J. Greg Dawson, P.Geo., Vice President
of Exploration for Copper Ridge, is the Qualified Person and is
responsible for the technical content of this news release. The
agreement is subject to regulatory approval.
Copper Ridge's exploration philosophy focuses on maximizing the
potential for success in a high-risk business. With grass roots mineral
exploration, where the entry cost is low but the potential reward can
be very high, success will be contingent on exploration skill and on
carefully managed risk. Our management team brings tenacity, technical
skill and experience, all crucial ingredients for discovery. By
exploring a broad array of projects, focusing on the right commodities,
in areas of high mineral potential, in mining-friendly jurisdictions
and by sharing the risks on some projects with joint venturers, Copper
Ridge is exposing its shareholders to a greater chance for discovery.
The Company is anticipating an active field program on its Yukon and
British Columbia properties in 2008.
Contact:
Gerald G. Carlson, President & CEO
Copper Ridge Explorations Inc.
Suite 500 -- 625 Howe Street
Vancouver, B.C. V6C 2T6
Phone: 604-688-0833; 1-888-278-2288
Fax: 604-688-0835
info@copper-ridge.com
TSX Venture Exchange -- KRX
Pink Sheets -- CRXOF
Berlin -- 502845
This release was prepared by management of the Company who takes full
responsibility for its contents. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this news release.
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Copyright (c) 2008 COPPER RIDGE EXPLORATIONS INC. (KRX) All rights
reserved. For more information visit our website at
http://www.copper-ridge.com/ or send mailto:info@copper-ridge.com
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