Resource Area Extended a Further 80 Meters South
Trading Symbols: TSX.V:PNL
and O7M - Frankfurt Stock Exchange
STEWART, BC, Aug. 12 /CNW/ - Pinnacle Mines Ltd and Mountain Boy Minerals Ltd announce that initial assays for the first four holes of the 2008 drill program on the Silver Coin Project have been received. Two holes, 232 and 233, have long intersections of gold mineralization. At present, over 11,000 meters of drilling have been completed in 71 holes, mostly on the Kansas claim with some drilling on the Big Missouri claim. Due to early drill success, the drilling program has been expanded from the initial 10,000 meters.
Notable assay results from holes, 232 and 233, are listed in the table below. The other two holes did not have any notable assays. Other assay results are pending.
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From To Width Au Ag Cu Pb Zn CLAIM
DDH (m) (m) (m) g/t g/t % % % TESTED
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2008-232 66.45 78.64 12.19 12.66 24.46 0.02 0.30 0.77 Kansas
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including 69.49 71.02 1.52 81.57 128 0.079 1.29 2.91 Kansas
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and 106.38 107.29 0.91 1.53 9.7 0.032 0.20 0.43 Kansas
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2008-233 63.09 84.43 21.34 11.29 20.14 0.05 0.40 0.96 Kansas
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including 69.19 81.38 12.19 18.17 31.58 0.084 0.64 1.45 Kansas
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and 99.67 105.46 5.79 3.91 5.74 0.01 0.033 0.096 Kansas
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The Silver Coin is a gold-silver-base metal property located about 24 kilometers north of Stewart, British Columbia in the Skeena Mining Division. The Silver Coin project and associated minerals claims is a 51-49% joint venture between Pinnacle Mines and Mountain Boy Minerals except for the Kansas claim which is 29 % mountain Boy and 71 % Pinnacle.
A NI 43-101 report dated May 1, 2007, by MineFill Services, Inc., indicates that the property has 488,202 gold equivalent (Au-Ag) ounces in the measured and indicated category as well as 1,000,499 gold equivalent ounces in the inferred category. The 2008 drill program is designed to add precious metal resources and to improve the resource categories already established in the 43-101 compliant resource calculation and technical report.
Alex Walus P. Geo. is the qualified person looking after the drill program on behalf of the companies. Drill core samples are assayed by Assayers Canada of Vancouver, BC.
Pinnacle Mines is a Canadian based mineral exploration and development company with assets in Canada and Mexico. In Canada, Pinnacle holds properties in northwestern British Columbia in proximity to numerous past and producing mines including the Silbak-Premier Mine and Barrick Gold's famed 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.
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.
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