March 14, 2008
Trading Symbols: TSX.V:PNL
and O7M - Frankfurt Stock Exchange
Pinnacle Mines Advances Silver Coin
Project Skeena Mining Division, British
Columbia
Vancouver, B.C.
- Pinnacle Mines Ltd. is pleased to announce it has contracted Snowden Mining
Group in Vancouver to compile and evaluate all drill data on the Company's Silver
Coin property in the Skeena Mining Division in northern British
Columbia. The property consists of 25 claims comprising approximately 1,500 hectares.
Mineralization consists of epithermal gold-zinc-silver bearing silicified
breccias, veins and stockworks hosted in altered
Jurassic andesites. The structurally
controlled deposit is greater than 800 meters long, up to 300 meters wide and up
to 100 meters
in thickness. Measured and indicated in-pit
resources at a 0.75 gpt gold cutoff grade are presently estimated at 8.9 million
tonnes grading 1.46 gpt gold (416,700 ozs)
plus an inferred resource of 13.2 million tonnes grading 2.15 gpt gold (913,000 ozs) with a
3:1 stripping ratio. These resource estimates are NI 43-101 compliant.
In-pit
mineral resource by category above 0.75 g/t Au-Equivalent
Silver Coin 43-101 Technical Report - Minefill Services Inc. - April 27, 2007
|
Class
|
Tonnes
|
Au-Eq (all metals) g/t
|
Au g/t
|
Ag g/t
|
Zn %
|
Au (oz)
|
Au-Eq (oz) (Au,Ag
only)
|
|
Measured
|
1,010,474
|
4.754
|
3.721
|
14.487
|
0.448
|
120,880
|
129,844
|
|
Indicated
|
7,884,484
|
1.922
|
1.167
|
10.367
|
0.298
|
295,811
|
345,865
|
|
M+I
|
8,894,958
|
2.244
|
1.457
|
10.835
|
0.315
|
416,691
|
475,709
|
|
Inferred
|
13,214,809
|
2.737
|
2.149
|
5.927
|
0.276
|
912,992
|
960,955
|
Snowden will evaluate data from
nearly 600 core holes and recommend deposit infill and edge drilling to
upgrade the resource confidence categories. Also during this process,
Snowden will identify and recommend drilling in areas of potential
underground mining. Additional drilling will be conducted during 2008
and core drilling from 2007 and 2008 will be incorporated into an updated
data base and a new NI 43-101 technical report will be compiled by
Snowden.
The Silver Coin project and
associated mineral claims is a 51-49% joint venture between Pinnacle Mines
and Mountain Boy Minerals except for the Kansas claim which is owned 40% by
Tenajon Resources Corp. and 60% by Pinnacle and Mountain Boy (51-49%).
Pinnacle Mines is a Canadian based
mineral exploration and development company with assets in Canada and Mexico.
In Canada, Pinnacle holds the Silver Coin property in near proximity to
numerous past and producing mines including the Silbak-Premier Mine and
Barrick Gold's Eskay Creek Mine. In Mexico, Pinnacle has options to
acquire and is currently exploring two copper-gold-silver targets located
within the state of Oaxaca.
Mr. Jeffrey Wilson, the Company's
Vice-President of Exploration, is the qualified person under NI 43-101 who
supervised the preparation of this news release.
For further information contact
Paul Saxton, President, or John Van Duzen at 604-688-7377 or visit Pinnacle's
website at www.pinnaclemines.com .
On behalf of the Board of
Directors
"Paul Saxton"
President & CEO
The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or the
accuracy of the content of this news release.