SNL
Enterprises Ltd.(TSX: SNL.V)
Press Release: SNL PROPERTY ACQUISITION
May 22, 2008
LADNER, B.C.
- SNL Enterprises Ltd. (�SNL�, �the company�) announces that we
have consolidated a large contiguous land position near Logan Lake, British Columbia.
This 100% owned claim group, the �Logan Lake Properties� (hereinafter referred
to as �Property�), is located within 10 kilometres of the
world-class Highland Valley copper-moly porphyry
deposits, and within 24
kilometres of the formerly productive Afton
deposit to the northeast. This Property is located 200km northeast of Vancouver, British
Columbia.
The acquired tenures
comprising the Property consist of 62 mineral claims totalling 28,987 hectares
(289 sq. Kms). The Property was acquired for cash
consideration totalling $50,000.
There are three mineralized
occurrences on the property, based on historical reports filed with BC Minfile: the Bertha-Molly past producer, the DAB showing,
and the Tunkwa showing (past producer).
The Bertha-Molly past
producer is located in the southern portion of the Property. Historical data
recorded in BC MINFILE reports that 31 tonnes of ore were shipped from this
showing, yielding 218g silver and 626kg (equates to 2.2%) of copper (Minfile 0921SE012). Historically reported mineralization
at the Bertha-Molly showing is of malachite, azurite, chalcopyrite cuprite, and pyrite hosted by shears and fracture fillings
in vesicular volcanics and red tuffs. Historically
reported mineralization is structurally controlled with an apparent north
trend. A common reported alteration is calcite and epidote
with silicifcation becoming stronger at depth.
The DAB showing on the
Property is reported to hold low grade copper mineralization (inferred to be
disseminated chalcopyrite) hosted in mafic intrusive
rocks (MINFILE report #092INE040)
The TUNKWA mineral zone,
designated as a past producer (MINFILE) and where surficial
mercury and associated minerals may indicate an epithermal system with
potentially economic precious metal mineralization at depth. Mineralization
on the TUNKWA showing is of a reported (MINFILE) carbonate zone mineralized
with disseminated stibnite, tetrahedrite,
chalcopyrite, malachite and azurite with cinnabar occurring as thin films and
small masses in dolomite and quartz veins.
This historical
information, which is considered by SNL to be relevant, is not compliant with
National Instrument (NI) 43-101 and cannot be considered to be reliable as SNL
has not done the work necessary to verify the classification of the
showings. SNL is not treating this historical information as a NI 43-101
defined mineral resource or mineral reserve.
The Property occupies an
area characterized by gently sloping hills with elevations ranging from 1,105
to 1,520 metres
above sea level. Open meadows alternate with a moderate to dense stand of pine,
fir and spruce, with very little or no underbrush. The area, within the B.C.
dry belt, has a continental climate characterized by cold winters and hot
summers.
Favorable access to all areas of claims is
centralized from Logan
Lake. A paved road passes
through the central portion of the claims.
Logan Lake,
which provides the infrastructure for the Highland Valley
mines, would be a source of experienced and reliable exploration and mining
personnel. The city of Kamloops
is less than � hour distant by road from the Property, is serviced daily by
commercial airlines and is a hub for road and rail transportation.
Sufficient water, power,
staff accommodation and exploration services are readily available on or near
the property, for all phases of year round exploration.
The Company is in the
process of planning a drill-focused exploration program which is expected to
occur in summer 2008, subject to financing.
The information contained
in this document has been reviewed by Laurence Sookochoff,
P.Eng, a Qualified Person as defined by National
Instrument 43-101.
On behalf of the Board,
For further
information contact Thal Poonian,
President of SNL, at (604) 940-9157.
This document may contain
certain forward-looking statements which involve known and unknown risks,
delays, and uncertainties not under the corporation�s control which may cause
actual results, performance or achievements of the corporation to be materially
different from the results, performance or expectation implied by these
forward-looking statements.
The TSX-Venture Exchange
has in no way approved nor disapproved of the contents of this news release.