Knight Resources Ltd : 2008 Exploration Program Underway at West Raglan by 24hgold

Mots clés associés : Canada | Copper | Nickel |

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Knight Resources Ltd.
TSX VENTURE:	KNP
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June 19, 2008
Knight Resources Ltd.: 2008 Exploration Program Underway at West Raglan
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2007) - Mr. Harvey Keats, Chief Executive Officer of Knight Resources Ltd. (TSX VENTURE:KNP)(FRANKFURT:KRL), reports that the company has been informed by its joint venture partner, Anglo American Exploration (Canada) Ltd. ("AAEC"), that the 2008 program has commenced and drilling has been initiated on the West Raglan Project. A minimum of 10,000 metres of diamond drilling is planned for the 2008 exploration program. Three drills will be active on the property. The 2008 drill program is focused on the Greater Frontier Area and will be complimented by simultaneous exploration on the Beverly and CDC prospects. The mineralization at Frontier and the geological setting of all three areas are similar to Xstrata Nickel's Raglan Mine, located approximately 100 km to the east. Drilling is designed to discover new nickel, copper and PGE mineralization and to augment the previously encountered nickel mineralization at Frontier that occurs in 8 zones over a 4.5 kilometre strike length. The total cost of the program is budgeted at $8,000,000. The geological understanding of the Greater Frontier Area was greatly enhanced in 2007 with new geological evidence indicating that this area is characterized by multiple ultramafic units, all with potential for nickel mineralization along their lower contacts, which occur over a 6 kilometre strike length along the Raglan Horizon (see www.knightresources.ca). Drilling in the Greater Frontier Area in 2007 confirms the presence of at least 5 vertically dipping and northward facing ultramafic units ("A" through "E") that straddle the Raglan Horizon. Stratigraphically, the uppermost ultramafic unit is designated ultramafic unit "A" and the lowermost ultramafic unit is designated unit "E". Mineralization has been identified in units "B", "C" and "D" and occurs as both individual sulphide lenses along embayment structures at the base of the units and as sulphide concentrations within their interiors, similar to mineralization at Xstrata Nickel's Raglan Mine. The well mineralized units "C" and "D" have a strike length in excess of 4 kilometres with much of their extent yet to be investigated by drilling. Nickel tenors (percent nickel in 100% sulphides) are also similar to those observed at Xstrata's Raglan deposits. Ultramafic units "A", "B" and "E" remain to be investigated. At Frontier, the 2008 program has 3 objectives: 1) investigate the continuation of nickel and PGE-enriched sulphides discovered in nine diamond drill holes in 2007 in conjunction with investigating the continuation of mineralized zones discovered in previous years, 2) explore along trend within the three known mineralized ultramafic units for additional new sulphide lenses and 3) explore for mineralization in new ultramafic units (Units "A", "B" and "E"). The program will be guided by increased geological knowledge, 3D magnetic inversions that approximate the three dimensional distribution and geometry of ultramafics in the subsurface and by "state of the art" electromagnetic ground surveys. Paralleling the effort at Frontier are exploration programs at the Beverly and CDC areas where significant concentrations of ultramafic rocks have been identified along the Raglan Horizon. Beverley is a 15 kilometre cluster of ultramafic rocks identified on surface and with a significant depth extent and volume indicated by 3D magnetic inversion calculated from magnetometer surveys conducted in 2007. The 3D magnetic inversion indicates the extent and volume of ultramafic rock in this area is at least three times that identified to date at Frontier. CDC is an 8 kilometre trend of ultramafic rocks noted for the occurrence of blebby sulphides within the ultramafic units. A table of West Raglan Project drilling highlights, including the Company's 2007 discoveries in WR-07-128 (1.06 % Ni, 0.36% Cu, 0.24g/t Pt, 0.96g/t Pd over 28.65 metres and 4.96% Ni, 0.52% Cu, 0.63g/t Pt, 2.58g/t Pd over 3.10 metres), WR-07-142 (2.72% Ni, 2.07% Cu, 0.65g/t Pt, 2.43g/t Pd over 7.30 metres), WR-07-130 (3.25% Ni, 1.93% Cu, 0.99g/t Pt, 3.35g/t Pd over 3.50 metres) and WR-07-141 (4.54% Ni, 1.61% Cu, 0.71g/t Pt, 2.90g/t Pd over 1.85 metres) can be viewed on the Company's web site at www.knightresources.ca. The 2008 field program will be carried out by Anglo American Exploration (Canada) Ltd. (AAEC), the operator of the West Raglan Project. The West Raglan Project is funded 51% by AAEC and 49% by Knight. The West Raglan project covers over 710 sq. km and includes approximately 65 kilometres of the Raglan Horizon along which extensive ultramafic rocks typically occur. Numerous early stage nickel targets occur along this horizon over the West Raglan Project. Robin Adair, VP of Exploration, is the Qualified Person responsible for the technical information in this news release. Additionally, the Company has engaged Castle Capital Inc. of Montreal, Quebec, to provide investor relations services to the Company. Castle is a wholly owned company of David Herbert. The Company has agreed to pay Castle Capital Inc. $1,500 per month, for an initial term of six months. The agreement is subject to the approval of the TSX Venture Exchange. The Company has granted 100,000 incentive stock options to Castle Capital Inc. exercisable at a price of $0.26 per common share for a period of one year. ON BEHALF OF THE BOARD OF KNIGHT RESOURCES LTD. Harvey Keats, Chief Executive Officer the TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

CONTACT INFORMATION:

Knight Resources Ltd.
Harvey Keats
Chief Executive Officer
(604) 684-6535
Fax: (604) 602-9311
Email: knight@bed-rock.com
Website: http://www.knightresources.ca

INDUSTRY: Financial Services - Investment Opinion, Financial Services - Investment Services and Trading, Financial Services - Personal Finance

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