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MANTLE ACQUIRES 100% REGISTERED INTEREST IN AKIE
PROPERTY AND NOW CONTROLS 88,360 HECTARES OF PROSPECTIVE SEDEX ZINC-LEAD
GEOLOGY IN KECHIKA TROUGH
Vancouver, B.C. – May 3, 2007 – Mantle Resources Inc. (TSX Venture:
MTS; Frankfurt: AOF7E1) (the ‘Company’ or ‘Mantle’) wishes to report
that it has paid the final option payment due by its subsidiary, Ecstall
Mining Corp.("Ecstall"), to Inmet Mining Corp. ("Inmet"), and
consequently Inmet has transferred its 60% registered interest in the
Akie Property to Ecstall. Accordingly, Ecstall is now the registered
owner of a 100% royalty free interest in the Akie Property.
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The Akie zinc–lead property, comprised of 22 contiguous mineral
claims encompassing some 5,400 hectares, is located 280km north
northwest of Mackenzie, British Columbia, and is the most advanced of
Mantle's properties. To date, approximately $10.15 million has been
spent on exploration at Akie including approximately 20,000 meters of
drilling collectively by Inmet during 1994 to 1996 and Mantle in 2005 to
2006, which resulted in the identification of a large body of barite
SEDEX mineralization containing significant zinc+lead contents. Mantle
is preparing to commence a major drill program next month using 3 high
capacity diamond drill rigs, as described in Mantle's news release of
April 3, 2007.
"We are pleased to have paid all obligations due to Inmet, and to now
have, in return, the highly regarded Akie Property transferred and
registered in our name. This is a significant milestone and it was
accomplished well ahead of schedule" stated. Mr. Peeyush Varshney,
President of Mantle.
Mantle's current land holdings in the Kechika Trough area of
northeast British Columbia, through either 100% ownership or option,
comprise a total of some 88,360 hectares (218,335 acres) distributed
over a distance of approximately 180 km.
This land package encompasses highly favourable shales of Middle to
Late Devonian ‘Gunsteel formation’ which is host to four major zinc-lead
deposits and numerous (+25) showings and occurrences. The known
deposits, which contain a combined geologic inventory in excess of 65
million tonnes averaging approximately 10% combined zinc+lead, consist
of Akie, owned 100% by the Company, and Cirque, South Cirque and
Driftpile, owned by Teck-Cominco. Included in these holdings is the
Mount Alcock property, located 45 km northwest of the Akie deposit,
where diamond drilling by previous operators encountered mineralized
intervals of 10.5 m grading 6.8% zinc+lead, and 8.8 m grading 9.3%
zinc+lead, including 3.6 m at 14.2% zinc+lead.
At present, the Company is engaged in a comprehensive review of all
available information pertaining to the Kechika area, the results of
which will be used to guide a major helicopter supported, regional
exploration program expected to commence later next month.
The Kechika Trough is the southern-most part of the Paleozoic Selwyn
Basin, one of the most prospective and prolific sedimentary basins in
the world for the occurrence of SEDEX zinc-lead-silver and stratiform
baritic deposits. Exploration within the basin since the early 1950’s
has resulted in discovery of a number of important large SEDEX
zinc-lead-silver deposits.
Qualified Person
John R. Fraser, P.Geo. (BC) is the Qualified Person for the Company
and is responsible for the technical information contained in this
release.
For further information regarding the Akie property, the reader is
referred to a NI 43-101 report, titled Geological Report on the Akie
Property, dated October 24, 2005, by D.G. MacIntyre, Ph. D., P.Geo.(BC).,
which is filed on SEDAR at www.sedar.com.
The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release.
MANTLE RESOURCES INC.
ON BEHALF OF THE BOARD OF DIRECTORS
“Peeyush Varshney”
Peeyush Varshney
President and Director
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