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May 26, 2009 (Filing Services Canada) -- Trade Winds Ventures Inc. (TWD - TSX Venture, TVR - FWB), is pleased to report the results of an updated independent mineral resource estimate on its Block A property, a 50/50 joint venture with Detour Gold Corporation ("Detour Gold"), located near Detour Gold's Detour Lake gold project in northern Ontario. This updated estimate contained within an open pit shell was completed by Watts, Griffis and McOuat Limited ("WGM"), Consulting Geologists and Engineers of Toronto, Canada and complies with National Instrument 43-101 ("NI 43-101") Standards of Disclosure for Mineral Projects.
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In-pit Mineral Resource Estimate for Block A (100%)
(at a cut-off of 0.5 g/t Au)
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Resource Category Tonnes Grade Capped Gold Ounces
(millions) (g/t Au) (000's)
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Indicated 36.4 1.02 1,200
Inferred 8.3 1.04 277
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Notes:
(1) The mineral resources are classified as indicated and inferred, and comply with the CIM mineral resource definitions referenced in National Instrument 43-101.
(2) Base case assumes a gold price of US$700/oz gold and US$ exchange rate of $1.18.
(3) Mineral resources that are not mineral reserves do not have demonstrated economic viability.
(4) The quantity and grade of reported inferred resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.
(5) The tonnages and grades quoted are undiluted. Gold grades were capped at values ranging from 10 g/t to 100 g/t based on statistical analysis.
This mineral resource estimate is an update of the December 2006 Technical Report by Golder Associates Ltd. and contains data from an additional 53 diamond drill holes totaling 13,095 metres completed in 2007. The 2007 drilling program targeted near-surface gold mineralization of the M Zone in the eastern portion of the deposit, which enabled the use of a Lerch-Grossman optimized pit shell to generate a preliminary in-pit mineral resource.
Ian Lambert, CEO and President of Trade Winds stated: "This mineral resource estimate completed by WGM has significantly increased the indicated category of the gold resource on Block A, which now stands at 1.2 million ounces contained within a US$700/oz pit shell, of which 50% is attributable to Trade Winds. This work is a positive step towards our objective of defining the mineable potential of
Block A. We can now proceed with additional drilling to expand the in-pit resources to the west. Although there is still a lot of work to be done, we are particularly encouraged by these results, which should attract the attention of the investment community."
The mineral resources described above are contained within two pit shells: the M Zone pit and the North Walter Lake pit. The North Walter Lake pit is located approximately 300 metres to the north of the M Zone pit and contains 2.7% of the total mineral resources reported above. The North Walter Lake pit contains 37,500 ounces of gold in the indicated category contained within 1.4 million tonnes grading 0.86 g/t Au (capped) and 2,500 ounces of gold in the inferred category contained within 0.1 million tonnes grading 0.69 g/t Au (capped).
Both the M Zone pit and North Walter Lake pit cross the claim boundary on the eastern side of Block A onto the mining lease held by Detour Gold. The portion of the mineral resources of both pits within Detour Gold's property includes 114,000 ounces of gold in the indicated category contained within 3.3 million tonnes grading 1.09 g/t Au (capped) and 31,000 ounces of gold in the inferred category contained within 1.0 million tonnes grading 0.97 g/t Au (capped). These specific mineral resource figures are excluded from those reported above for Block A.
Gold Price and Cut-off Grade Sensitivity Analysis
A gold price sensitivity analysis was completed applying identical input cost parameters at the US$ 700/oz base case. Gold prices of US$ 575/oz, and US$ 825/oz were used to create discrete pit shells with operational cut-off grades of 0.50 g/t, 0.40 g/t and 0.30 g/t Au. Results of this study are presented below.
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INDICATED
CATEGORY
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GOLD PRICE CUT-OFF STRIP TONNES GRADE GOLD OUNCES
US$/oz GRADE RATIO (millions) (g/t Au) CAPPED
(g/t Au) (000's)
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$575 0.50 3.90 26.2 1.08 908
0.40 2.95 32.4 0.96 997
0.30 2.17 40.3 0.84 1,086
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$700 0.50 4.68 36.4 1.02 1,200
0.40 3.37 46.7 0.90 1,348
0.30 2.37 60.5 0.77 1,502
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$825 0.50 5.61 42.5 1.00 1,361
0.40 4.00 55.5 0.87 1,548
0.30 2.77 73.2 0.74 1,746
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(Con?t)
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INFERRED
CATEGORY
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GOLD OUNCES
TONNES GRADE CAPPED
(millions) (g/t Au) (000's)
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3.1 1.28 127
3.9 1.11 138
5.0 0.94 150
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8.3 1.04 277
11.4 0.88 322
15.0 0.75 362
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13.0 1.00 421
17.9 0.85 490
24.2 0.72 560
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Mineral Resource Estimate Parameters and Method
* The block model mineral resources was estimated within a Lerch-Grossman pit shell using MineSight(r) software based on the concept of a large-scale open pit with the pit parameters indicated below. The cost estimates used in the study were compiled by WGM utilizing public information from similar operations and from various suppliers and contractors.
Exchange Rate US$ 1.00 = C$ 1.18
Recovery 91%
Ore Mining Costs C$ 1.70/tonne
Waste Mining Costs C$ 1.60/tonne
Processing Costs C$ 6.38/tonne
G & A C$ 1.38/tonne
Refining Costs US$ 6.00/oz
Royalty 2%
* Detailed metallurgical work has not been completed on Block A. For the purposes of the mineral resource estimate, WGM utilized gold recovery rates compiled from public information from Detour Gold and other similar deposits.
* An overall pit wall angle of 24 degrees for overburden and 48 degrees for bedrock were used in the study. This overall angle considered a 35 metre wide ramp system within the angle calculation.
* A three-dimensional (3D) geological and block model was generated using GEMS(c) software. The block model matrix size of 10x15x10 metres (width x length x height) was selected with consultation with the engineering team from WGM and was based on the size that was deemed suitable for an open pit mining scenario. A MinesSight(r) model was created with the exact parameters for use with the Lerch-Grossman algorithm.
* The database used for this mineral resource estimate comprised 602 diamond drill holes totalling 114,951 metres of drilling completed by Trade Winds from 2003 to 2007 and 112,464 metres of historical drilling completed by Placer Dome and prior operators.
* All drill holes are diamond drill core with the majority of the samples collected and assayed at approximately 1 metre sample intervals.
* The composite interval selected was 3 metres downhole.
* Densities were determined for representative rock samples using industry standard methods. The average value for each domain was applied to the block model with a background density of 2.80 tonnes/metre3 for areas outside the domain boundaries.
* Geological rock type coding in the drill hole database led to the development of the 3D lithological domain models. These domains were utilized in the grade variography studies and in the grade interpolation constraints.
* For the treatment of outliers, each statistical domain was evaluated separately. The statistical domains were capped at values ranging from 10 g/t Au to 100 g/t Au in combination with search restrictions on values greater than 20 g/t Au for some of the domains. The procedure used allows the deposit to retain the high grade assays while limiting their influence during the interpolation.
* Ordinary Kriging was used for all domains and grade interpolation at the domain boundaries relied upon the soft/hard boundary determination from the statistical grade contact profiles.
* The interpolation was carried out in multiple passes with increasing search ellipsoid dimensions. Classification for all models was based primarily on the pass number followed by an adjustment to the class model, based on a diamond drilling density map (core area and at depth) and the distance to the closest sample used in the interpolation using the variography results for guidance.
Quality Assurance and Quality Control ("QA/QC") Program
The Company has implemented a quality control program to ensure best practices in sampling and analysis of the core samples. The core is first logged then sawn in half during the sampling process with the remaining half being retained for verification and reference purposes. During sample collection and assaying, there is an established QC procedure for using standards, duplicates and blanks. The core samples were divided into batches of 20 prior to shipment. In each batch, there would be a minimum of one standard, one duplicate sample and one blank sample. It is Trade Winds' policy that duplicates are inserted after high grade gold mineralized samples, especially those with visible gold. The samples are delivered in sealed bags direct to ALS-Chemex Laboratories preparation facility in Rouyn-Noranda, Quebec, Canada. Sample pulps are shipped from there to ALS-Chemex Laboratories in Mississauga Ontario, Canada for analysis. Trade Winds used Chemex AU-AA23, which is a 30 g fire assay with AA finish similar to the analytical technique used by Rocklabs Ltd. supplier of the QA/QC standard. Samples returning greater than 10 g/t Au were automatically processed using a fire assay-gravimetric finish. Total metallic assays for gold were also performed on selected intervals. All sample batches assayed by Chemex included a standard multi-element ICP package. The coarse rejects are kept in Rouyn-Noranda for re-assaying purposes for a period of six months and then returned to the Trade Winds site where they are stored in a locked shipping container at the exploration site.
NI 43-101 Compliant Report
The mineral resource estimate block model was completed by Pierre Desautels, P.Geo, a Senior WGM Associate Geologist. The Lerch-Grossman pit shells and final mineral resource estimates were completed by Gordon Zurowski P.Eng, a Senior WGM Associate Mining Engineer. The material in this news release has been reviewed and approved by Mr. Desautels and Mr. Zurowski of WGM, both Qualified Person as defined by NI 43-101 and by Stephen Wallace, P.Geo, VP Exploration of Trade Winds, also a Qualified Person as defined by NI 43-101. The complete NI 43-101 Technical Report will be filed on SEDAR at www.SEDAR.com within 45 days.
FOR FURTHER INFORMATION PLEASE CONTACT: Ian D. Lambert, CEO/President (604) 648-6225
Email: info@tradewindsventures.com
Visit our Website at www.tradewindsventures.com
Forward Looking Information
Certain information included in this news release constitutes "forward-looking statements". The words "expect", "will", "intend", "estimate" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to, risks associated with the mining industry such as government regulation, environmental and reclamation risks, title disputes or claims, success of mining activities, future commodity prices, costs of production, possible variation in mineral reserves, mineral resources, grade or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, the timing of estimated future production, capital expenditures, financial market fluctuations, requirements for additional capital, conclusions of economic evaluations, limitations on insurance coverage, risks associated with using third-party contractors and inflation. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Information Concerning Estimates of Mineral Resources
This news release uses the terms 'indicated' and 'inferred' resources. The Company advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.
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Source: Trade Winds Ventures Inc. (TWD - TSX-V, TWDIF - Pink Sheets, TVR - Frankfurt) http:www.tradewindsventures.com
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