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February 28, 2008
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Telkwa Gold Corp. Significantly Expands Iron Cap Property Land Position in
Copper-Rich Yerington District of Nevada
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TORONTO, ONTARIO--(Marketwire - Feb. 28, 2008) -
THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEW SERVICE, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES IN ANY JURISDICTION.
Telkwa Gold Corporation (TSX VENTURE:TKW) ("Telkwa" or the "Company") is pleased to announce it has significantly expanded its Iron Cap Property land position located in the historical, copper-rich Yerington District of Nevada.
The Company has added 305 claims to its core holding of 55 claims and now currently controls approximately 5,400 acres of prospective ground.
Kirk McKinnon, President & CEO stated that "we believed that Telkwa's former land position, in this rich copper area, did not have the necessary critical mass characteristic of an economic porphyry deposit. Fortunately, our knowledge of the potential of the surrounding land contiguous to our initial property position allowed Telkwa to add an important and sizeable new land package. The new directors of the Company immediately initiated the acquisition of this open ground. We feel that the Company's timing with respect to this expanded land position is very good, as recent metal commodity comments, in February 2008, from BMO Financial Group's Global Portfolio Strategist, Donald Coxe, indicate that recent copper prices could break out past US$4.00 /lb."
Micheal Marchand, , P. Geol, V.P. Exploration, commented that, "the core Telkwa holdings combined with our newly acquired ground puts us on contiguous borders with two significant copper exploration and mining companies; Quaterra Resources Inc. (TSX-V: QTA) and PacMag Metals Ltd (PMH:Australian Stock Exchange - SEATS), both of whom are very aggressively drilling copper projects close to our property boundary. The geology of the area offers the opportunity for porphyry copper-gold, copper skarn and epithermal gold environments."
The Company is currently preparing a first phase exploration program that will be managed by Telkwa's Vice President of Exploration Michael Marchand, P. Geol. Taiga Consultants of Calgary, AB will assist in the exploration. Ground work is expected to be initiated within the next few months.
Bill Nielsen, P. Geo, Director will oversee the design and management of Telkwa's exploration programs.
Telkwa Gold will have a presence at the 2008 PDAC (Prospectors & Developers Association of Canada Annual Convention) in the Uranium Star Booth, booth number 2909.
About the Company
Telkwa's current exploration focus is in Nevada, where it has three properties; the Iron Cap Copper-Gold Property, and the Warm Springs and Stealth Gold Properties.
Please visit Telkwa's website at www.telkwagold.com for corporate information, reports and images of our exploration projects.
The head office of Telkwa has relocated to 1000-141 Adelaide Street West, Toronto, Ontario, Canada M5H 3L5. Michael Marchand, P.Geol., will continue to operate from Telkwa's existing Calgary Office.
Bill Nielsen, P. Geo, Director is the designated qualified person for the technical information contained in this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The common shares of Telkwa Gold Corp will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption there from.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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CONTACT INFORMATION:
Telkwa Gold Corporation - Toronto Office
Brent Nykoliation
Director of Business Development
(416) 364-4986
Fax: (416) 364-2753
or
Telkwa Gold Corporation - Toronto Office
J. A. Kirk McKinnon
President and CEO
(416) 364-4986
Fax: (416) 364-2753
or
Telkwa Gold Corporation - Toronto Office
Richard Schler
Vice President and CFO
(416) 364-4986
Fax: (416) 364-2753
or
Telkwa Gold Corporation - Calgary Office
Michael Marchand, Ph.D., P.Geol.
Vice-President of Exploration
(403) 282-5105
or
Telkwa Gold Corporation - Calgary Office
2328 Sumac Rd NW
Calgary, AB T2N 3T9
Email: info@telkwagold.com
Website: www.telkwagold.com
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INDUSTRY: Manufacturing and Production - Mining and Metals
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