Jul. 8, 2009 (Filing Services Canada) -- Trillium North Minerals Ltd. (TNM - TSX Venture), ("Trillium") has received an update from Black Panther Mining Corp. ("Black Panther"), who is earning an interest in the Seagull Property, located approximately 90 km north-northeast of Thunder Bay. As referred to in the Company's news releases dated November 5, 2008 and February 3, 2009, Black Panther acquired a 30% interest in the 159 claim unit Seagull Property from Trillium and East West Resources ("East West"). Black Panther also has the right to increase its ownership in the Seagull Property to a 51%, 60% and 75% interest, respectively, by incurring additional exploration expenditures on the Property.
Black Panther has recently staked additional claims and expanded the Seagull Property from 159 claim units to 359 units. As a result, the Property now encompasses the original Seagull Proterozoic ultramafic intrusion (the "Seagull Intrusion") discovered in 2000, as well as numerous newly discovered feeder dike features along the western flank of the original claims.
History
Between 2000 to 2004, there were three platinum-palladium-nickel-copper disseminated sulphide "layers" discovered in the Seagull Intrusion. In April 2004, Platinum Group Metals Ltd. (who previously held an interest in the Seagull Property), announced the discovery of a new platinum bearing layer, or "reef", within the Seagull Intrusion. At that time, Platinum Group Metals reported that drilling confirmed the northern half of the Seagull Intrusion as a target area for expanding platinum reefs discovered to date, and as well stated, that the mineralized horizons found within Seagull Intrusion compared favourably to the famous "Merensky" reef in South Africa.
More recently, in a news release dated April 22, 2009, Magma Metals Limited of Australia ("Magma") reported the discovery of PGE's hosted in feeder dikes on Magma's claims which are located 10 km to the south of Seagull Property.
Geology
All of the ultramafic intrusions (like the Seagull Intrusion) are related to the "Mid Continental Rift" event that occurred between 1000 to 1112 ma (million years). The Seagull Intrusion has been dated at 1111 to 1112 ma and represents magma that has been derived from deep in the mantle; hence the platinum-palladium values are almost 1:1 and are contained within the nickel-copper sulphides.
Company Results To date
In December 2008, the Black Panther completed a $650,000 phase one drill program on the west side of the Seagull Intrusion (see February 3, 2009 news release). In January through to March, 2009, additional claims were staked to the west. Recent prospecting has been successful in identifying several potential feeder dikes, and as well, numerous boulders and outcrops of dike material have been discovered within the claims block. The Qualified Person for the Project, Mr. Robert Middleton, P. Eng., Geophysicist, states that, "these newly discovered dikes are likely the conduits linked to the larger bodies such as the Seagull Intrusion and others in the immediate area."
2009 Plans
Subject to the completion of its financing announced on July 3, 2009, the Black Panther intends to proceed with a detailed airborne magnetic survey, followed by additional drilling. Black Panther has budgeted $350,000 for this program, which will bring its total exploration expenditures on the Property to $1 million (thereby resulting in Black Panther earning a 51% interest in the Seagull Property).
This news release has been reviewed and approved by Mr. Robert Middleton, P.Eng, Geophysicist, and is the Qualified Person supervising this project in accordance with regulations under NI 43-101.
On Behalf of the Board of Directors,
Dr. Elliot Strashin, President
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements." All statements other than statements of historical fact included in this release, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Trillium, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Trillium expectations are exploration risks, commodity prices, assumed startup and operating costs detailed herein and from time to time in the filings made by Trillium with securities regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
TRILLIUM NORTH MINERALS LTD
500 - 20 Maud St., TORONTO
Ontario, CANADA M5V 2M5
Telephone: (416) 504-0077
Fax: (416) 504-6019
www.trilliumnorth.com
402 - 905 West Pender Street, VANCOUVER
British Columbia, CANADA V6C 1L6
Telephone: (604) 681-1909 Fax: (604) 689-5930
Source: Trillium North Minerals Ltd
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