Mantle Resources Announces Initiation of 43-101 Resource Estimate at Akie and Provides Update on Build Up of Technical Team
Vancouver, British Columbia, Canada – Tuesday, February 26, 2008 – Mantle Resources Inc. (TSX Venture Exchange: MTS; Frankfurt: A0F7E1) (“Mantle” or the “Company”) is pleased to announce that the exploration drill results over the past 2 and ½ years have provided the Company with sufficient information to enable it to now proceed with a mineral resource estimate that will be compliant with the requirements defined in National Instrument 43-101(“NI 43-101”). This will be the first time the resources at the Cardiac Creek deposit within the Akie property will be defined under these guidelines.
Mantle has engaged independent consultant Robert Sim, P.Geo., to evaluate the project and generate a mineral resource estimate for the Cardiac Creek deposit. Robert Sim is a Qualified Person as defined under NI 43-101 who has over 24 years of experience in exploration, mine operations, management and project evaluations.
“Initiating this NI 43-101 compliant resource estimate is a significant milestone for the Company,” commented Mr.
Additions to Technical Team
Mantle is pleased to announce that it is continuing to build up its in-house technical team with the recent appointment of key personnel for the advancement of the Akie project and Kechika Trough regional work. Mr. John Fraser, P. Geo. (BC), has been appointed as Vice-President of Exploration and he remains a Director of the Company. In addition, Mr. Gil Graham has been hired as Logistics Manager and Mr. Nicholas Johnson has joined the Company as Exploration Manager.
About the Akie Propert
The Akie zinc-lead property is situated within the southern-most part (Kechika Trough) of the regionally extensive Paleozoic Selwyn Basin, one of the most prolific sedimentary basins in the world for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by Inmet Mining Corporation during the period 1994 to 1996 and by Mantle in 2005, 2006 and 2007 has identified a significant body of baritic-zinc-lead SEDEX mineralization (Cardiac Creek Deposit). The deposit is hosted by variably siliceous, fine grained clastic rocks of the Middle to Late Devonian ‘Gunsteel’ formation.
Two similar deposits, Cirque and South Cirque, located some 20 kilometers northwest of Akie and owned under a joint venture by Teck Cominco and Korea Zinc, are also hosted by Gunsteel rocks and have a combined geologic inventory in excess of 50 million tonnes averaging approximately 10% combined zinc+lead.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
MANTLE RESOURCES INC.
PEEYUSH VARSHNEY, LL.B
Chief executive officer