News Release - September 10, 2007
HIGH GRADE MINERALIZATION AT SPANISH MOUNTAIN PROPERTY ADDS TO BULK TONNAGE
POTENTIAL.
Wildrose Resources Ltd. ("Wildrose") (TSX-V: WRS) and Skygold Ventures Ltd.
("Skygold") (TSX-V:SKV) are pleased to announce results from the first 20
drill holes of the on-going 60,000 metre
Diamond drill program at Spanish
Mountain.
Drilling to date has expanded the Main Zone to the east and west by
approximately 100 metres - this expansion includes some very high-grade gold
intercepts. Reconnaissance drilling intersected wide zone greater than 60
metres of highly anomalous gold values approximately 1.3 km west of the Main
Zone.
Results summary:
Main Zone Western Margin
� 07-DDH-588 drilled southwest of the current main zone outline, intersected
an uncut interval of 42.0 metres averaging 9.38 g/t gold (including 27.0
metres of 14.34 g/t gold). Cut to 12.0 g/t gold, this interval averages
1.20 g/t gold over 42.0 metres.
� 07-DDH-588 contains the single highest-grade intercept on the property 241
g/t (7.03 ounces/ton) gold over 1.50 metres.
� 07-DDH-586 intersects 13.5 metres of 1.32 g/t gold.
Main Zone Eastern Margin
� 07-DDH-583 intersects 13.5 metres of 1.08 g/t gold.
� 07-DDH-595 intersects 22.5 metres of 1.19 g/t gold within a 50 metre
interval averaging 0.76 g/t gold.
Southern Main Zone
� 07-DDH-576 intersects 15.0 metres of 1.07 g/t gold.
Reconnaissance Drilling (Placer Area)
� 07-DDH-574 intersects 75.1 metres of 210ppb (0.21 g/t) gold.
� 07-DDH-578 intersects 63.0 metres of 170ppb (0.17 g/t) gold.
� 07-DDH-581 intersects 79.5 metres of 196 ppb (0.19 g/t) gold.
** For a complete list of all drill hole intercepts see Table 1 on our
website at www.wildroseresources.com
Discussion of results:
Main Zone area:
Holes 07-DDH-588 and 07-DDH-586 were drilled outside of the known
mineralization and south of the main "Bulk Tonnage" mineralization target.
The very high grade intercept in Hole 07-DDH-588 (entirely hosted in a
greywacke unit) remains open at depth and may also be a down-dip extension
of 2004 RC hole 228 which averaged 28.96 metres of 3.98 g/t gold including
12.19 metres of 8.89 g/t gold. Unlike other high grade intercepts in the
greywackes, this intercept lies within a wide zone of gold mineralization
making it a prime target for bulk minable mineralization. See section 1325
NE on our web site for an interpretation of this area.
Holes 07-DDH-583 and 07-DDH-595 are easterly step-outs on the Main Zone,
hole 07-DDH-595 was drilled east of hole 06-DDH-287 which intersected 24.5
metres of 1.04 g/t gold. The mineralization intercepted in hole 07-DDH-595
is wider and higher grade than 06-DDH-287 indicating that the zone may be
getting wider to the east. Hole 07-DDH-583 was drilled east of hole
07-DDH-579 which intersected wide zones of anomalous mineralization (76.5
metres of 0.274 g/t gold). See section 1650 NE on our web site for an
interpretation of this area.
Reconnaissance Drilling:
Holes 07-DDH-574, -578 and -581 were all drilled to test favorable
geophysical and geochemical anomalies approximately 1.3 km northwest of the
center of the Main Zone. The intersection of wide zones of anomalous gold
mineralization is very encouraging as these types of widths and grades are
often associated with the Main Zone style of mineralization. It is worth
noting that all holes drilled in this area have intersected the same degree
of alteration (sericite & carbonate) as the Main Zone. See section Placer 1
on our web site for an interpretation of this area.
Skygold's VP Exploration Scott Weekes commented: "The holes reported
represent only 10% (6200m) of our planned drill program and have
significantly added to our geological knowledge of the gold mineralization
and increased the potential for more discoveries at Spanish Mountain. Our
recent trip to
Russia to see similar deposit styles highlights the
importance of our reconnaissance drill hole results. Similar grade holes to
our reconnaissance results fall within the proposed pit boundaries of both
the Natalka (+ 43M Oz ) and Degdekan deposits. Hole 07-DDH-588 appears to
be a new target area below the upper Main Zone and is completely open at
depth. That intercept - the highest grade ever on the property after it has
already seen up to 50,000 metres of drilling in 351 holes only highlights
how under drilled this project really is. Reconnaissance drilling has
outlined a large area of anomalous gold mineralization which is being
investigated further. We will be mobilizing a fourth
Diamond drill onto
the property by the end of September."
The Spanish Mountain project is a joint venture between Wildrose Resources
Ltd. and Skygold Ventures Ltd. in which Wildrose has a 30% participating
interest and Skygold has a 70% participating interest.
Eco Tech Laboratories Ltd. of Kamloops BC, a BC accredited laboratory, is
conducting the sample preparation and analyses of samples. Skygold/Wildrose
are submitting standards, blanks and duplicates into the sample stream to
maintain quality control. All gold analyses will utilize standard screen
metallic assay techniques. Robert Darney, P.Geo. and J.W. (Bill) Morton, P.
Geo. are the qualified persons (as defined in NI 43-101) who have reviewed
this news release.
About Spanish Mountain
The Spanish Mountain property, in British Columbia's Cariboo Region is host
to a large-size gold mineralizing system which has only been partially
tested with
Diamond drilling. Previous work has outlined a mineralized zone
extending approximately 1.2 kilometres by 0.8 kilometre which remains open
in all directions. This year's program will test an area approximately five
times the size of the Main zone. This area has similar geochemical and
geophysical characteristics to known gold mineralization on the property.
For more information, see our website at www.wildroseresources.com.
About Wildrose Resources Ltd.
Wildrose is part of the Eastfield Group. Other companies in the Eastfield
Group include Eastfield Resources (TSX-V: ETF) and Cariboo Rose Resources
(TSX-V: CRB).
Bill Morton
J.W. (Bill) Morton, P.Geo
President
Contact: Paul Way, Business Development Manager
(604) 681-7913
Toll Free: 888-656-6611
pway@eastfieldgroup.com
Or: B&D Capital Partners
(604) 685-6465
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release. This news release may contain
certain "Forward-Looking Statements" within the meaning of Section 21E of
the United States Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, included herein are
forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's expectations are disclosed
in the Company's documents filed from time to time with the TSX Venture
Exchange, the British Columbia Securities Commission and the US Securities
and Exchange Commission.
.