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Re: News Releases - Friday, December 21, 2007
Coral Rapids Minerals and Baltic Resources Announce Coral
Property Drill Results
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Toronto, Canada - Coral Rapids Minerals Inc. and Baltic Resources Inc.
(TSX Venture - "BLR") (collectively the "Companies") jointly announce
results from the first phase of the revised sampling program on the
Coral Rapids Project (the "Project") in north-eastern Ontario.

Two drilling campaigns of 23 holes in total were completed by Baltic
Resources prior to the creation of the Coral Rapids Joint Venture. The
Coral Rapids Joint Venture's first phase of work was a revised sampling
program to further test the kimberlite like intersections generated by
drilling geophysical targets identified in the airborne survey
completed by Baltic. Eight select drill core intervals from these
drill campaigns that were sent to Vancouver Petrographics and Mineral
Services have all been classified as very fine to fine-grained
fragmental olivine melilitites or olivine alnoites, which are not true
kimberlites, but are closely-related alkaline intrusive rocks. Results
also received from SRC Geoanalytical Laboratories Diamond Services in
Saskatoon, Saskatchewan, reported that the micro-diamond results for
the intrusions submitted for caustic fusion came back with no diamonds,
which is consistent with the rock-type classification. The mineral
chemistry of the intersections outlined by Minerals Services indicates
that these diatremes are not the source of the favourable diamond
indicator minerals (true mantle derived pyrope garnets and high Ti
megacrystic pyrope garnets) discovered by the Ontario Geological Survey
on and in close proximity to the property. Thus, the source of these
indicators remains high priority and the Joint Venture has already
approved a revised exploration program to continue the search for
diamond-bearing kimberlite sources on the Project.

The discovery of the correct classification of these bodies as
closely-related kimberlite clan rock has assisted the technical team to
refine the exploration techniques used to target drill sites. An
analogy with Shear Minerals' Churchill Project has been suggested to
explain the existence of the true mantle derived pyrope garnets and the
high Ti megacrystic pyrope garnets discovered in the Ontario Geological
Survey. These garnets remain as very positive indicators that some
intrusions have brought to surface deeper-sourced mantle material,
suggesting the possibility of local kimberlite sources.

Mr. Michael Dufresne of APEX Geoscience Ltd., a consultant to the
Project and a member of the Longview Capital Partners Technical group,
recommends several work programs to be undertaken to better define the
source of these high priority pyrope garnets. Of these programs, the
Coral Rapids Joint Venture will begin till sampling the eastern third
of the property as well as stream heavy mineral concentrate sampling
across the property and regionally in areas of the high priority pyrope
garnet anomalies. It has also been recommended to complete detailed
ground magnetic grids over key areas of the Project, to better pinpoint
future drill collar locations. The partners in the Coral Rapids Joint
Venture firmly agree that the revised program has greater potential to
successfully identify diamondiferous kimberlite sources on the Coral
Rapids property.

Additional information with respect to the Coral Rapids Project is
contained in the technical report dated October 6, 2004, relating to
the Coral Rapids Project entitled "Technical Report on the Coral Rapids
Don McKinnon Property for Baltic Resources Inc." (the "Coral Rapids
Technical Report"). A copy of the Coral Rapids Technical Report may be
obtained from SEDAR at www.sedar.com.

This press release has been prepared under the supervision of Mr. John
Boissoneault (P. Eng.) and Mr. Michael Dufresne (M.Sc., P.Geol.), who
are both independent consultants to the Coral Rapids Project and
"qualified persons" as such term is defined in National Instrument
43-101. Mr. Boissoneault and Mr. Dufresne have reviewed and verified
the technical information disclosed in this press release.


For further information, please contact:


Coral Rapids Minerals Inc.

Roberto Ebrahimi, President
Phone: 604-681-5755
Fax: 604-684-2990


Baltic Resources Inc.

Don McKinnon, President, CEO or
Gordon McKinnon, Manager Corp. Development
Phone: 705-268-9000
Fax: 705-268-5532
info@balticresources.ca


Forward-Looking Statements

This press release contains certain "forward-looking statements". All
statements, other than statements of historical fact, that address
activities, events or developments that the Company believes, expects
or anticipates will or may occur in the future (including, without
limitation, statements relating to mineral resources, potential
mineralization, design of the Company's work programs, the expected
results of the Company's work programs, exploration results and the
Company's plans with respect to the exploration and development of the
Coral Rapids Project) are forward-looking statements. These
forward-looking statements reflect the current expectations or beliefs
of the Company based on information currently available to the Company.
Forward-looking statements are subject to a number of risks and
uncertainties that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking
statements, and even if such actual results are realized or
substantially realized, there can be no assurance that they will have
the expected consequences to, or effects on the Company. Factors that
could cause actual results or events to differ materially from current
expectations include, among other things, changes in commodity prices,
changes in equity markets, failure to establish mineral resources,
changes to regulations affecting the Company's activities, delays in
obtaining or failures to obtain required regulatory approvals,
uncertainties relating to the availability and costs of financing
needed in the future, the uncertainties involved in interpreting
drilling results and other ecological data, and the other risks
involved in the mineral exploration and development industry. Any
forward-looking statement speaks only as of the date on which it is
made and, except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Although the Company believes
that the assumptions inherent in the forward looking statements are
reasonable, forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on such
statements due to the inherent uncertainty therein.

The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this press release.

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Copyright (c) 2007 BALTIC RESOURCES INC. (BLR) All rights reserved.
For more information visit our website at
http://www.balticresources.ca/ or send mailto:info@balticresources.ca
Message sent on Fri Dec 21, 2007 at 12:59:58 PM Pacific Time
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