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Copper Ridge Acquires B.C. Copper-Gold Porphyry Deposit
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Vancouver, BC, May 8, 2007 - Copper Ridge Explorations Inc. (the
"Company") announces that it has agreed to terms whereby it has the
right to acquire a 100% interest in the road accessible NAK porphyry
copper-gold deposit, located 80 km northeast of Smithers, British
Columbia.
The NAK deposit occurs in a well-mineralized Babine copper-gold
porphyry belt that includes the Bell and Granisle mines, the Morrison
deposit and numerous undeveloped prospects. The Bell and Granisle mines
together produced 130 million tonnes of ore grading 0.4% copper (Cu),
0.15 g/t gold (Au) and 0.75 g/t silver. The NAK property was explored
by Noranda in the 1960's and 1970's and more recently by a number of
junior exploration companies through the mid 1990's. Copper-gold
mineralization at the NAK property is associated with disseminated
chalcopyrite, pyrite and local bornite, in and adjacent to
quartz-sulphide veinlets within multiple phase porphyry intrusions and
local breccia zones.
Historical drilling has included 107 core holes for a total of 15,629
m. Highlights from the most recent drilling include 70.7 m grading
0.248% Cu and 1.166 g/t Au in hole 96-55, 12.5 m grading 2.614% Cu and
0.143 g/t Au in hole 96-58, 18.0 m grading 1.318% Cu and 0.203 g/t Au
in hole 96-65 and 21.3 m grading 0.295% Cu and 1.059 g/t Au in hole
96-70. A complete list of the significant intersections from the
1995-96 drilling is included as a table attached to this news release.
Copper Ridge believes there is good potential for the discovery of both
higher grade and larger tonnage gold and copper mineralization
associated with this deposit. This potential exists where high grade
copper-gold veins intersect a favourable host rock, such as
conglomerate (hole 96-65, reported above) and along open extensions
from the known gold-rich portions of the deposit. The Company is
currently in the process of compiling the historical exploration data
on the property prior to planning a summer exploration program. It will
also examine the feasibility of updating existing resource calculations
such that they comply with NI 43-101 standards.
The Company can earn a 100% interest in the NAK property by making
payments totaling $250,000 over 6.5 years, including $10,000 on signing
of the agreement. The vendor is also entitled to additional payments of
$125,000 upon certain exploration milestones being reached. These
payments may be taken in shares of the Company at the vendor's option.
The vendor retains a 3% NSR royalty, two-thirds of which can be
purchased by the Company for $1 million. The agreement is subject to
regulatory approval.
J. Greg Dawson, P.Geo. and VP Exploration for Copper Ridge, is the
Qualified Person for the NAK Property and has reviewed and approved the
content of this news release.
Copper Ridge's exploration philosophy focuses on maximizing the
potential for success in a high-risk business. With grass roots mineral
exploration, where the entry cost is low but the potential reward can
be very high, success will be contingent on exploration skill and on
carefully managed risk. Our management team brings tenacity, technical
skill and experience, all crucial ingredients for discovery. By
exploring a broad array of projects, focusing on the right commodities,
in areas of high mineral potential and in mining-friendly jurisdictions
and by sharing the risks on some projects with joint venture partners,
Copper Ridge is exposing its shareholders to a greater chance for
discovery. Copper Ridge is well financed for the proposed 2007 field
program on its Yukon and British Columbia properties.
Contact:
Gerald G. Carlson, President & CEO
Copper Ridge Explorations Inc.
Suite 500 -- 625 Howe Street
Vancouver, B.C. V6C 2T6
Phone: 604-688-0833; 1-888-278-2288
Fax: 604-688-0835
NAK Property - 1995-96 Drill Results Summary
Drill Hole From (m) To (m) Interval Cu (%) Au (g/t)
N95-01 20.80 196.70 175.90 0.180 0.022
N95-02 23.70 253.00 229.30 0.248 0.055
N95-04 19.80 213.40 193.60 0.154 0.017
N95-05 15.20 253.00 237.80 0.151 0.023
N95-12 36.00 135.60 99.60 0.114 0.075
N95-15 5.50 174.00 168.50 0.352 0.646
N95-17 121.90 298.40 176.50 0.193 0.344
N95-21 131.50 539.50 408.00 0.198 0.075
N95-25 75.60 451.10 375.50 0.222 0.043
N95-26 9.10 356.60 347.50 0.110 0.023
N95-27 7.60 140.00 132.40 0.196 0.009
N95-34 24.40 195.10 170.70 0.147 0.102
N96-44 118.90 125.00 6.10 0.272 0.012
N96-44 185.90 198.10 12.20 0.244 0.065
N96-47 105.16 114.60 9.44 0.326 0.012
N96-51 27.43 106.68 79.25 0.200 0.647
N96-51 134.11 142.65 8.54 0.183 0.038
N96-52 45.72 115.82 70.10 0.161 0.168
N96-52 131.06 146.30 15.24 0.162 0.013
N96-54 88.39 106.68 18.29 0.152 0.114
N96-54 158.50 167.64 9.14 0.151 0.041
N96-55 42.06 66.75 24.69 0.439 0.703
N96-55 84.73 155.45 70.72 0.248 1.166
N96-55 169.16 183.79 14.63 0.358 0.101
N96-56 39.62 86.56 46.94 0.245 0.270
N96-56 112.78 161.54 48.76 0.158 0.143
N96-56 180.75 199.64 18.89 0.180 0.113
N96-56 252.98 259.08 6.10 0.189 0.062
N96-56 282.24 297.48 15.24 0.160 0.062
N96-58 97.23 109.73 12.50 2.614 0.143
N96-62 133.20 154.53 21.33 0.015 0.335
N96-64 14.33 50.90 36.57 0.209 0.085
N96-64 72.24 78.33 6.09 0.155 0.053
N96-64 93.57 99.67 6.10 0.412 0.118
N96-65 8.23 14.32 6.09 0.761 0.047
N96-65 96.62 102.72 6.10 0.219 0.053
N96-65 145.40 163.68 17.98 1.318 0.203
N96-66 105.77 121.10 15.33 0.181 0.059
N96-66 124.05 151.49 27.44 0.186 0.062
N96-66 230.73 236.83 6.10 0.164 0.078
N96-66 288.65 316.05 27.40 0.224 0.053
N96-67 26.52 35.65 9.13 0.428 0.169
N96-67 78.33 84.43 6.10 0.249 0.151
N96-67 121.01 127.10 6.09 0.205 0.926
N96-67 172.80 178.92 6.12 0.169 0.131
N96-68 166.73 172.82 6.09 0.164 0.079
N96-70 38.71 60.05 21.34 0.295 1.059
N96-70 75.29 115.52 40.23 0.221 0.650
This release was prepared by management of the Company who takes full
responsibility for its contents. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this news release
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Copyright (c) 2007 COPPER RIDGE EXPLORATIONS INC. (KRX) All rights
reserved. For more information visit our website at
http://www.copper-ridge.com/ or send mailto:info@copper-ridge.com
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