September 22, 2008
News from the desk of Ken Murton
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RADISSON
MINING ANNOUNCES JOINT VENTURE WITH AURIZON MINES
WILL NOT PROCEED AND EMBARKS ON TWO DRILL PROGRAMS
Dear Eric,
. This morning, Radisson Mining Resources Inc.
announced that it could not reach agreement with Aurizon Mines Ltd. in respect
of a proposed joint venture on Radisson's O'Brien/Kewagama property in northwestern
Quebec (the "Property").
For
approximately six months, Aurizon has been engaged in due diligence on the
Property as agreed by a Letter of Intent ("LOI") dated April 14,
2008. The terms of this LOI would have entitled Aurizon to earn up to a 50%
interest in the Property upon providing a bankable feasibility study on the
Property. Subsequently, Aurizon requested that it be entitled to earn a 75%
interest in the Property for such achievement and Radisson declined such
proposal.
Radisson now intends to embark on two drill
programs, one of which is on the O'Brien/Kewagama Property and the other is on
Radisson's Destor/Duquesne property, as described below.
. The
O'Brien/Kewagama Property: Radisson's main asset, the 100%-owned
O'Brien/Kewagama Property, contains the former O'Brien Mine, which was known
for its high gold grades and was considered to be the most important gold
producer in the Cadillac Mining Camp in Qu�bec when it was in operation from
the early 1930s to the mid 1950s.
Radisson is
now focusing on the 36 East Zone, a new gold-bearing zone located 2,500 feet
east of the old O'Brien Mine, that contains comparable high grades of gold and
on an area between the 36 Zone and the historic Kewagama Mine, immediately east
of the O'Brien Property. Radisson was conducting advanced exploration work on
the property, but suspended the program when the LOI was signed with Aurizon
Mines.
In its 2007
NI 43-101 Report on the O'Brien Mine 36 Zone, Scott Wilson RPA concluded that
"there is excellent potential to increase the Zone 36 East resources above
the 2,000 Level and to discover new resources further at depth and along strike
further to the east."
Radisson is currently reviewing all of the
available surface diamond drill hole and historic underground information to
select priority targets for drilling later in the fourth quarter of 2008.
. The
Destor/Duquesne Property: The Destor/Duquesne Property, owned 100% by Radisson,
is located along the Destor Porcupine Deformation Zone approximately 30 km north
of the town of Rouyn-Noranda, Quebec. It adjoins the Duquesne Project currently
being explored by Clifton Star Resources Inc. ( � Clifton Star �) where 113.80
g/t Au over 3.60 metres was recently reported (See Clifton Star press release
of August 20,2008).
The
Destor/Duquesne Property includes 1,400 metres of prospective geology along the
Destor Porcupine Deformation Zone. The property has been worked by several
exploration companies, the last of which was Hemlo Gold in 1993-04..
Gold
mineralization on the Destor/Duquesne Property has been identified in several
zones, the two most significant being the Zone Grise and the Lepine Zone. Both
zones are believed to represent the possible strike extensions of the
gold-bearing structures currently being explored by Clifton Star.
Drilling is expected to commence on the
Destor/Duquesne Property once all necessary permits are in place.
. We at Radisson should be pleased to answer any
questions you may have with regard to our exploration and development plans.
Sincerely,
Ken Murton
President/CEO
Tel: 416-920-2748
kmurton@radissonmining.com
www.radissonmining.com
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