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Re: News - Thursday, September 27, 2007
International KRL Options Lead-Zinc-Silver Project; Plans Fall
2007
Diamond Drill Program
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Thursday, September 27, 2007 -- International KRL Resources Corp.
(TSXV:IRK) today announced that it has acquired an option to earn a
60% interest in the Tim property (silver-lead-zinc) from Tarsis Capital
Corp. The exploration target on the property is a high-grade
silver-lead-zinc replacement-type, carbonate-hosted deposit similar to
the Silvertip (Midway) Deposit, located 12 km to the SW. The Tim
Property consists of 10 mineral claims covering 516 acres, located 72
km west of Watson Lake, Yukon. International KRL has staked an
additional 279 claims contiguous to the Tim Property. The project,
referred to by International KRL as the Kuda Project, now consists of
289 claims representing a total claimed area of 14,926 acres.
The Kuda project is a tremendous addition to International KRL's
exploration portfolio and provides exposure to a project with excellent
high-grade silver-lead-zinc potential. The property's location and
access permit drilling in the winter months which complements the
Company's summer exploration programs at its other Yukon properties.
International KRL has secured a drill for this program and anticipates
mobilizing an exploration crew shortly to prepare for drilling.
The Kuda project was discovered in 1983 by Regional Resources Ltd.
(later Fairfield) and initial work consisted of prospecting,
geochemical surveys, mapping, road construction, induced polarization
surveys and excavator trenching. A trenching program (2,712 m) in 1988
tested two parallel zones of coincident soil geochemical and IP
anomalies, which are referred to as the North and South zones. This
trenching uncovered silver, lead and zinc bearing-iron and manganese
oxides over widths of up to 30 metres, along a strike length of 1 km in
the North zone. Sample values include a four-metre chip sample
averaging 10.28 opt silver and 9.12% lead from trench #3 and grab
samples from trench #1 valued at 36.41 opt silver, 49.50% lead and
28.55 opt silver and 32% lead (Ref. 1988 Assessment Report, Fairfield
Minerals Ltd.). A
Diamond drill program was recommended at that time
but never drilled.
The Kuda property covers Lower Cambrian and Cambrian stratigraphy which
is similar to the high-grade silver-lead-zinc, carbonate replacement
deposit (manto type) at Silvertip. Exploration at Silvertip outlined
mineralized zones containing a resource (non-43-101 compliant) of 2.57
million tonnes grading 325 g/t silver, 8.8% zinc and 6.4% lead (Ref.
B.C. Mineral Exploration Review, 2000, Information Circular 2001-1).
Several priority drill targets have been identified from the plotted
results of the coincident geochemical and IP anomalies and the
excavator trenches. International KRL's proposed 2007 exploration
program will consist of grid relocation, possible trenching and
sampling as well as
Diamond drilling. Access and local infrastructure
provides for a lengthy drilling and exploration season.
Under the terms of the Option Agreement, International KRL is required
to issue a total of 1 million common shares and incur total
expenditures of $3 million within four years in order to earn an
undivided 60% interest in the property. The agreement is subject to the
acceptance of the TSX Venture Exchange.
Michael Sanguinetti, P. Eng., Consulting Geologist, is the Qualified
Person responsible for the technical information in this news release.
International KRL Resources Corp. is a mineral exploration company
engaged in the acquisition, exploration and advancement of Canadian
mineral properties. It has a tremendous property portfolio prospective
for uranium, base metals and precious metals. For more information on
the Company and the properties please visit www.krl.net, www.sedar.com
and www.sec.gov websites.
ON BEHALF OF THE BOARD
"Seamus Young"
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Seamus Young
President and CEO
For Further Information Please Contact:
Seamus Young, President and CEO
604-689-0299 x 223
Judith Mazvihwa, CFO
604-689-0299 x224
Statements contained in this news release that are not historical facts
are forward-looking statements, which are subject to a number of known
and unknown risks, uncertainness and other factors that may cause the
actual results to differ materially from those anticipated in our
forward looking statements. Although we believe that the expectations
in our forward looking statements are reasonable, actual results may
vary, and we cannot guarantee future results, levels of activity,
performance or achievements.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
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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 Sep 27, 2007 at 6:06:33 AM Pacific Time
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