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Re: News - Thursday, May 31, 2007
International KRL Resources Advised of Exploration Progress by
Golden Harp Resources at Copper Hill Project, Ontario
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Thursday, May 31, 2007 - International KRL Resources Corp. (the
"Company") (TSX-V:IRK) today announced that recent exploration work
undertaken by its subsidiary Golden Harp Resources Inc. ("GHR") has
generated a number of new gold and base metal drill targets on several
areas of GHR's 56 square mile land package on the Larder Lake Break in
the Abitibi Greenstone Belt of Northern Ontario.
While GHR has been working to complete the corporate steps to becoming
a publicly traded company, it has concurrently undertaken these
exploration programs for drill target generation. GHR will commence an
extensive exploration and drill program once the company has met its
corporate milestones.
GHR has undertaken a number of preliminary exploration programs
beginning with a Mobile Metal Ions (MMI) soil sampling survey over the
Cook zone on the property. The survey consisted of approximately 700
samples to delineate priority target areas associated with known
geophysical anomalies. SGS Mineral Services analyzed the samples.
Interpretation of the data from phase 1 was completed by Dr. Mark
Fedikow, P.Geo. The interpretation of the results from this survey
combined with historical work done by International KRL generated a
number of new
Diamond drill targets within a known gold bearing trend.
GHR also undertook an airborne VTEM survey, conducted by Geotech Ltd.,
to further evaluate the under-explored nickel and base metal
occurrences in Knight and Natal Townships. A number of geophysical
anomalies were identified. Geotech and Ian Johnson, P.Geo further
interpreted the geophysical results and isolated additional
Diamonddrill targets. A number of these geophysical anomalies are hosted in a
suite of komatiitic volcanics. This same suite of komatiites hosts the
known historical nickel occurrences on the property. In light of the
new nickel discovery by Golden Chalice Resources in similar lithology
in Langmuir Township, Timmins area, GHR will re-prioritize a number of
prospective nickel targets for future drilling. Golden Chalice's nickel
discovery is located approximately 36 miles due north of GHR's
property.
Kevin Filo, P. Geo Senior Consulting Geologist, for Golden Harp
Resources Inc. is the Qualified Person with respect to the technical
information in this news release.
In June 2006, International KRL received 10 million common shares of
Golden Harp Resources Inc. in return for the sale of the property
valued at $3.2 million. International KRL currently owns in excess of
65% of the issued shares of GHR. Through a reduction of stated capital,
International KRL Resources Corp. plans to distribute its GHR shares on
a pro rata basis to the shareholders of International KRL once it
receives BC Supreme Court Approval to restate its capital. This is
expected to occur after GHR becomes a reporting issuer and begins
trading on a Canadian Exchange. The record date for the distribution
will be set after the Court approval to distribute the Golden Harp
Resources shares.
International KRL Resources Corp. is a mineral exploration company
engaged in the acquisition, exploration and advancement of Canadian
mineral properties. The Company is currently exploring for uranium,
copper, and gold in the Yukon Territory, Saskatchewan, Ontario and
British Columbia. For more information on the properties and
International KRL Resources Corp. please visit www.krl.net,
www.sedar.com and www.sec.gov websites.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in the United
States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered or
sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or
an exemption from registration is available.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
ON BEHALF OF THE BOARD
"Judith Mazvihwa"
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Judith T. Mazvihwa
CFO and Director
For Further Information Please Contact:
International KRL Resources Corp.
Judith T. Mazvihwa, CFO
T: 604-689-0299 E: jmazvihwa@krl.net
TF-Canada: 1-877-689-6130
TF-USA: 1-800-665-3772
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Copyright (c) 2007 INTERNATIONAL KRL RESOURCES CORP. (IRK) All rights
reserved. For more information visit our website at
http://www.krl.net/ or send mailto:info@krl.net
Message sent on Thu May 31, 2007 at 6:35:29 AM Pacific Time
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