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Cours Or & Argent

Brilliant Mining Corp.

Publié le 29 mai 2007

21,000 Tonnes (46.8 Million Lbs) Ni Metal Production Target over Next Two Years

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Mots clés associés :   Canada | Nickel |
Brilliant Mining Corp. Suite 1440, 625 Howe St.
Vancouver BC, V6C 2T6

Toll Free: 1-888-331-2269

BMC: TSX-V

21,000 Tonnes (46.8 Million Lbs) Ni Metal Production Target over Next Two Years Lanfranchi Nickel Mine, Kambalda District, Western Australia

Vancouver, B.C. - Brilliant Mining Corp. (BMC:TSXV) (“Brilliant”) today announces a preliminary production forecast and an exploration update for the high-grade Lanfranchi Nickel Mine, Tramways Tenements in the world class Kambalda District of Western Australia.

Key Point Summary (100% basis)

  • Significant ramp-up in production at the Lanfranchi Nickel Mine through the next two years
  • 8,000 tonnes (17.6 million lbs) Ni metal production projected for July 07-June 08
  • 13,250 tonnes (29.2 million lbs) Ni metal production target for July 08-June 09
  • Aggressive exploration budget greater than US$4 million to be spent over next 12 months
  • US$0.007/lb Ni per Deacon Indicated Resource discovery/delineation unit cost

“The proposed mine plan and continued increase to the resource inventory, plant and infrastructure is on schedule for the Lanfranchi Nickel Mine’s production goal of 10,000 tonnes of Ni metal” states John Williamson, CEO Brilliant Mining Corp.

Production Forecast 2007/08 (100% basis)
The preliminary production forecast for the high-grade Lanfranchi Nickel Mine is 8,000 tonnes (17.6 million lbs) contained Ni metal in 2007/08 (July 07 to June 08) based on approximately 300,000 tonnes of ore deliveries at 2.65% Ni. This preliminary forecast represents a 45% increase to the 2006/07 forecast for Lanfranchi of 5,500 tonnes of contained Ni, reflecting continued successful economies of scale and the planned introduction of higher grade ore coming from Winner and Deacon.

The main factors contributing to the significant ramp-up in production are:

  • Ore from Winner(1) with a reserve grading 4.28% Ni scheduled for October 2007; and
  • Ore from Deacon(2) with an indicated resource grading 3.09% scheduled for first development ore production November 2007 and first longhole stope ore production in March 2008.

Production Target 2008/09
Based on the previously delineated resource and reserve inventory, the recent exploration success at Lanfranchi and Deacon, and the continued investment in plant and infrastructure the Lanfranchi Joint Venture’s potential production target for the 2008/09 (July 07 to June 08 mine-plan year end) operating year is approximately 13,250 tonnes (29.2 million lbs) contained Ni metal. This rate of production is achievable provided the ramp-up at Deacon and Winner progresses on schedule.

Figure 1: Lanfranchi Nickel Mine Production Forecast

Discovery & Purchase Unit Costs
The Lanfranchi Nickel Mine and surrounding Tramways Tenements was purchased by the Lanfranchi Joint Venture for an USD $20 million equivalent. At the time of the acquisition the Lanfranchi Mine contained 53,000 tonnes of Ni metal in the Indicated Resource category(3). This translates to an acquisition unit cost of US$0.17/lb of Ni metal (see Table 1 below). In comparison, the discovery and delineation of the Deacon containing 50,000 tonnes of Ni metal in the Indicated Resource category cost US$0.007/lb.

The nominal exploration unit cost associated with the Deacon’s contribution to the resource inventory highlights the overall prospectivity of the property. In this regard, the Company believes that a focussed exploration program is fundamental to the continued vitality of the project and has budgeted an aggressive USD $4 million for the next 12 month period (July07-June08).

Table 1: Discovery/Purchase Unit Costs


Project

Indicated Resource (tonnes)*

Exploration/Purchase Cost (USD)

Cost (USD)
Cents/Lb

Lanfranchi Mine

53,000

$ 20,000,000

17.1c/lb

Deacon(2)

50,000

$ 800,000

0.7c/lb

*The Indicated Resource stated in the table are a subset of the Total Reserve and Resource (Indicated and Inferred) that make up the mineral inventory at the Lanfranchi Project.

Exploration Update
Numerous channel style massive and disseminated nickel sulphide deposits have been historically developed at the Lanfranchi Mine and most display evidence of down-plunge extensions. These potential extensions to known bodies of mineralization are the primary focus of the exploration program at Lanfranchi over the next 12 months.

Exploration and resource definition drill programs are currently underway from both surface and underground at the Tramways Tenements. The plan is to test a total of six advanced targets during the remainder of 2007 (see Table 2).

Table 2: Tramways Tenements – Lanfranchi Mine Exploration Drill Schedule


Area

Description

Quarter

Northern Tramways Dome

Test highly prospective contact over 2 km strike length

Q2-07

Schmitz/Skinner

Test depth extensions

Q2-07

Helmut South

Evaluate base of known mineralisation

Q2-07

Lanfranchi

Develop drill drive, test depth extensions and EM anomalies

Q3-07

Winner

Test orebody extension when decline development established

Q3-07

Deacon

Develop drill drive, test up- and down-plunge extensions

Q3-07

Figure 2: Schmitz & Helmut Ni sulphide channel extensions

Northern Tramways Dome – Overturned Stratigraphy
The Northern Tramways Dome stratigraphy is under-explored and geologically complex. Vertical stratigraphic holes have been drilled previously to test the concept that the basal contact of the Kambalda komatiite is overturned in places along the northern side of the Tramways Dome. The drilling indicated that the basal contact of the highly prospective Silver Lake Member of the Kambalda Komatiite Formation is overturned in this area and dips back towards the south under the Lunnon Basalt (Figure 3). This provides considerable future exploration significance. If this interpretation is maintained elsewhere across the Tramways Dome then new massive nickel sulphide shoots could potentially be discovered in this region.

Given the conceptual success to date a more detailed program has commenced to explore for continuations of the Schmitz and Helmut channels on the north side of the Tramways Dome. Drill testing of this surface over a 2 kilometre strike length will form a significant part of the exploration activities for the next 12 months (Figure 4).

Figure 3: Northern Tramways Dome – Overturned Stratigraphy

Figure 4: Northern Tramways Dome – Target Contact to be drill tested

(1) See Company press release dated April 4, 2006 for details.
(2) See Company press release dated April 16, 2006 for details. Production on the Deacon Resource is contingent upon a positive feasibility study and subject to a development decision by the Lanfranchi Joint Venture.
(3) March 2006, 43-101 technical report by Golder Associates Pty. Ltd. filed on SEDAR.

The project is supervised by John Williamson, PGeol, of Edmonton, Alberta, CEO and a Director of Brilliant, and is the qualified person as defined in National Instrument 43-101.

About Brilliant Mining
Brilliant Mining Corp. (BMC: TSXV) is focused on the production, development and exploration of nickel opportunities world wide. The Company currently has a 25% interest in the producing Lanfranchi Nickel Mine in Western Australia and has 3 active nickel projects in Canada, including the Michikamau property in central Labrador.

On behalf of the Board of Directors

“Mike Sieb”
Mike Sieb, B.Sc., MBA
President
Brilliant Mining Corp.

For further information about Brilliant Mining Corporation, or this news release, please visit our website at www.brilliantmining.com, or contact:

Mike Sieb
President
604-646-4525
mikes@brilliantmining.com
Derek Iwanaka
Investor Relations
604-646-4524
info@brilliantmining.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain disclosures in this release, including management's assessment of Brilliant’s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Brilliant's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Brilliant expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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Brilliant Mining est une société d’exploration minière de nickel basée au Canada.

Brilliant Mining détient divers projets d'exploration au Canada.

Son principal projet en exploration est MISCHIKAMAU au Canada.

Brilliant Mining est cotée au Canada. Sa capitalisation boursière aujourd'hui est 38,1 millions CA$ (30,9 millions US$, 27,7 millions €).

La valeur de son action a atteint son plus haut niveau récent le 16 janvier 2009 à 0,56 CA$, et son plus bas niveau récent le 19 avril 2013 à 0,03 CA$.

Brilliant Mining possède 149 450 000 actions en circulation.

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29/11/2007(Kambalda)5.4% Ni Delivered from Winner during First Month Production ...
30/10/2007(Kambalda)Winner Production Commenced Oct. 14?First Month Ore Deliveri...
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10/08/2007(Lanfranchi)Deacon Ore Reserve Economic Input Summary; Lanfranchi Nickel...
31/07/2007(Lanfranchi)June 2007 Quarterly Update
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