Drilling on Roxmark's Magnet Mine Property by
Premier Gold Intersects Primary Target.
Toronto, Ontario, January 25, 2008. Roxmark Mines Limited (TSXV - RMK) today announced that drilling by Premier Gold Mines Limited (TSX:PG) at Roxmark's Magnet Gold Mine property in the Geraldton Camp, a property subject to an earn-in option by Premier, has intersected the primary target horizon, the Main "Tombill-Bankfield Break". Two distinct zones were intersected, confirming the presence of significant veining and mineralization in the target horizon (including visible gold).
Historically, in 1988, from the 11th level station of the Magnet Gold Mine, a flat hole intersected the Tombill-Bankfield fault horizon, host to the largest mine in the district, approximately 500 meters south of the main shaft. This hole intersected 45.26g/t Au (1.32 oz/ton) over 1.34 meters in the host horizon and was not followed-up. This host horizon was intersected at a depth of approximately 500 meters and is now the focus of current dr
illing with two drills. This zone will probably surface on the Company-controlled McLellan Joint Venture property. In addition to the target horizon, an additional mineralized zone was intersected further up-hole. The current drilling is part of a major $2.5 Million dollar ongoing exploration program carried out by Premier.
In addition to the main target, recent drilling performed in the "Benedict Zone", a secondary target located proximal to the Magnet Mine, intersected gold mineralization including 10.22 grams per tonne gold (g/t Au; 0.30 opt) over 2.5m and 8.14g/t Au (0.23 opt) over 2.0m. The Geraldton Project is being operated by Premier under an option agreement with Roxmark.
The Magnet Mine produced 152,000 ounces of gold from 360,000 tons for an average grade of 0.42 oz. in gold per ton. The mine is serviced with a shaft and winze to 2,640 feet depth. The property is equipped with headframe, production hoist, compressors, certain mining equipment, gene
rator, hydro substation, shop, dry, office, etc. The mine was inactive since 1988.
The Geraldton Project is located in the heart of the Beardmore-Geraldton Greenstone Belt, a highly prospective high-grade gold district that has seen relatively little exploration over the past several decades. The Project area covers approximately 10 kilometres of some of the most strategic ground in the region and is host to past-producing mines and numerous exploration targets in a district that has more than 4.1 Million ounces of historic gold production.
Stephen McGibbon, P. Geo., Executive Vice-President of Premier, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.
Premier Gold Mines Limited is a fully-financed Canadian-based mineral exploration and development company with diverse property holdings that include several projects and deposits in Northwestern Ontari
o and a joint venture in Mexico. In the Red Lake gold mining camp, two of these projects are operated in joint venture with Goldcorp Inc.
About Roxmark Mines
Roxmark Mines Limited is the leader in gold and molybdenum exploration and development in the historically significant Geraldton-Beardmore area of Northwest Ontario. In the last two years, Roxmark has generated cash flow from bulk-sampled gold and molybdenum processed at its fully-permitted mill and has the advantage of infrastructure from six formerly highly productive gold mines located on its properties. These mines previously produced nearly two million ounces of gold from high grade ore but were closed primarily due to dramatically lower gold prices at the time and to boundary issues, since eliminated. Three of our mines in the Beardmore camp processed a total of 1.5 million tons of ore that produced in excess of one million ounces of gold, with an average recovered grade of
0.70 oz. Au/ton.
Further information is available on Roxmark's website at www.roxmark.com and on SEDAR under the Roxmark's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, Roxmark disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Monir Younan, President
Roxmark Mines Limited
801- 80 Richmond St. West
Toronto, Ontario M5H 2A4
Tel.: (416) 860-1636
Fax: (416) 360-7355
E-mail: roxmark@on.aibn.com
Website: www.roxmark.com
Renmark Financial Communications Inc.
Christine Stewart : cstewart@renmarkfinancial.com
Barbara Komorowski : bkomorowski@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
