======================================================================
Re: News Release - Monday, September 17, 2007
*Crowflight Reports New Inferred Nickel Resources for Deposits
Near Bucko Mine
======================================================================
CROWFLIGHT MINERALS INC. (Crowflight, the Company) (TSX Venture
Exchange: CML) is pleased to present National Instrument 43-101
compliant mineral resource estimates for the M11A, Apex, Bowden Lake
and Halfway Lake deposits in the Thompson Nickel Belt South Project
Area, all located within approximately 25 kilometres of the Company's
Bucko Lake Nickel Project in Manitoba. Inferred Resources for each area
were calculated based on recent exploration and historical drill hole
data and were prepared in accordance with the Canadian Institute of
Mining, Metal, and Petroleum (CIM) definition standards regarding
Mineral Resources and Reserves. The results are presented below in
Table 1 and Charts 1 and 2. Figure 1 is a location map of the deposits
relative to planned operations at Bucko Lake.
Of particular note is the large tonnage Inferred Resource contained
within the Bowden Lake Deposit of 63 million tonnes grading 0.68%
nickel (at a 0.5% nickel cut-off grade) and the relatively high grade
Inferred Resource at Halfway Lake of 1.1 million tonnes grading 1.08%
nickel (at a 0.7% nickel cut-off grade).
Due to the preliminary stage of economic modelling for each deposit,
the Inferred Resources of each zone are presented in Table 1 using a
range of grade cut-off values. The cut-off values chosen approximate
concentrations of contained nickel that, given the 24 month average
market metal prices, could possibly be exploited economically.
Greg Collins, Crowflight's Vice President of Exploration commented: "We
are encouraged by these results as they quantify for the first time the
untapped resource potential of our other Manitoba projects. Exploration
work conducted by our exploration team and partner Xstrata over the
past few years has led to the definition of quality nickel resources in
close proximity to planned operations at the Bucko Mine. The Company
will be evaluating the development potential of these resources in the
context of our ongoing exploration activities in the belt."
View Table 1. Inferred Resources - M11A, Apex, Halfway Lake and Bowden
Lake Deposits
http://www.crowflight.com/i/misc/2007-09-17_NRT.gif
* Not calculated at the given Nickel cut-off grade
Mike Hoffman, the new President and CEO of Crowflight commented, "The
new inferred resources represent another milestone in the evolution of
Crowflight. It demonstrates the potential of the Crowflight Thompson
Nickel Belt properties located near the Bucko deposit for future
incremental mill feed or a potential stand alone project. Quantifying
the inferred resources allow the team at Crowflight to study potential
development scenarios and prioritize future exploration and development
activities."
M11A Deposit:
The M11A deposit consists of several small lenses of higher
concentration nickel mineralization within larger zones of low grade
nickel discovered by Falconbridge during the 1970s. The deposit is
located within 4 kilometres of the Bucko Lake mill. In 2006, a higher
grade nickel zone referred to as M11A North was discovered, which has
been the subject of recent drilling (refer to press releases dated
March 28, 2006, April 20, 2006 and May 8, 2007). The new Inferred
Resource estimate is based on 64 historical holes drilled by
Falconbridge and 19 holes drilled by Crowflight and its former
operating partner Xstrata Nickel during 2006 and 2007. Plans for this
resource include the evaluation of the potential of this resource to
supplement Bucko mill feed in the future. Exploration potential in the
vicinity of the deposit remains favourable for resource expansion.
Apex Deposit:
The deposit was discovered by Crowflight and its former operating
partner Xstrata Nickel in 2006 (see press releases dated April 27,
2006, July 7, 2006 and May 8, 2007) and is located approximately 5
kilometres from the Bucko Lake mill. The Inferred resource presented is
based on 13 holes totalling 4,263 metres drilled during 2006 and 2007.
The deposit retains exploration potential for expansion at depth and
along strike.
Halfway Lake:
The Halfway Lake deposit is located approximately 25 kilometres north
of the town of Wabowden and the mill at Bucko Lake. Mineralization at
Halfway Lake was first discovered by Falconbridge in 1995. In 2007,
Crowflight followed up favourable intercepts with the goal of further
assessing resource potential of the area and establishing inferred
resources. Crowflight drilled 2 holes in 2007 intersecting widths of
mineralization in excess of 9 meters grading 1.4% nickel (see press
release dated May 31, 2007). The Inferred Resource presented is based
on 9 historical holes drilled by Falconbridge and 4 holes drilled by
Crowflight and its former operating partner Xstrata Nickel. The deposit
is located in an under-explored portion of the belt and retains the
potential for additional resource expansion.
Bowden Lake:
The Bowden Lake deposit is located under Bowden Lake adjacent to the
Wabowden townsite, approximately 5 kilometres from Bucko Lake. The
deposit consists of large volumes of mineralized ultramafic rock over a
strike length of >2.5km. Historical, but non NI 43-101 compliant
resource calculations reported by Falconbridge indicated that this
deposit hosts large volumes of lower grade nickel sulphide
mineralization. In 2005, former operating partner Xstrata Nickel
drilled 7 holes from the surface of Bowden Lake to further evaluate a
corridor of elevated nickel content. The updated resource presented in
this press release incorporates historical drilling from 66 holes, and
7 holes drilled in 2005. Crowflight plans to study potential
development scenarios over the coming months.
Mineral Resource Estimate
The resource calculations were completed by Crowflight personnel under
the supervision of Greg Collins, Qualified Person for the programs, and
a professional geoscientist experienced in the determination of mineral
resources and reserves. The resource estimates were based on geological
data collected by representatives from Crowflight and chemical analysis
provided by ALS Chemex. The update incorporates historical exploration
information collected by Falconbridge and recent data collected by
Crowflight under a Joint Venture partnership with Xstrata Nickel. The
resource estimates incorporate the results from 139 historical diamond
drill holes totalling 48,130 metres and 43 recent holes totalling
17,420 metres drilled at four separate zones during the period from
January 2005 to May 2007. Please refer to Figure 1 for an illustration
of the location of the deposits. Please refer to news releases dated
April 20, 2006, April 27, 2006, May 11, 2006, July 11, 2006, May 8,
2007, and May 31, 2007 for information concerning mineralized
intercepts.
The determination technique of the mineral resources was based on
geostatistical block modeling using Gemcom Software utilizing the
inverse distance squared method of grade interpolation. The database
consisted of 182 surface diamond drill holes from four project areas,
including recent holes completed by Crowflight during the 2005 - 2007
drill campaigns. Minimum composite lengths were 1.5 metres. Density of
material was assigned based on average bulk density of mineralized
intervals based on available density measurements. The Inferred
Resource calculation used a 150 metre search ellipse with minimums of
two drill holes and five samples per block. A 0.5% nickel cut-off grade
was used to constrain the interpolation model. It should be noted that
Mineral resources that are not reserves do not have demonstrated
economic viability. The estimate of mineral resources may be materially
affected by environmental, permitting, legal, title, taxation,
socio-political, marketing, or other relevant issues.
Qualified Person Comments/Quality Control Procedures
This press release has been prepared and reviewed by Mr. Greg Collins,
P. Geo., Crowflight's Vice President of Exploration, a Qualified Person
under the NI 43-101 guidelines. The resource estimate has been prepared
in compliance with National Instrument 43-101 and form NI 43-101F1,
which requires that the estimate be prepared in accordance with the
"CIM Definition Standards on Mineral Resources and Mineral Reserves as
prepared by the CIM Standing Committee on Reserve Definitions and as
adopted by CIM Council, November 14, 2004."
The core sampling method applied during the 2005-2007 drill campaigns
followed NI 43-101 requirements and procedures as set forth in the
Diamond Drill Standard Procedures developed by Falconbridge Limited.
One control standard and one blank were inserted per 40 samples. Three
different internal control standards representing different grades were
utilized and the standard was selected with similar grade as the
samples submitted. All diamond drill core samples collected during the
2005-2007 drill program were sent to the primary laboratory of ALS
Chemex in Thunder Bay for preparation and were subsequently analyzed in
Vancouver. Fire assays were performed on all the samples for Gold and
PGE's which undergo an ICP-AES finish and Sodium Peroxide Fusion. All
other metals undergo an ICP-AES finish.
Granting of Crowflight Stock Options
Further to the press release dated September 10, 2007 announcing
management changes at Crowflight, one million options at a strike price
of $0.60 per share have been granted to Mike Hoffman, the new President
and CEO of Crowflight. In addition, Bruce Humphrey, the new Chairman
and Director of Crowflight, has been granted 500,000 options at $0.60
per share. The options granted will vest in quarterly increments over
the course of two years as per the terms of the Crowflight Stock Option
plan.
Conference Call Webcast Now Available Online
A recording of the conference call held Tuesday, September 11th at 10
a.m. has been posted on Crowflight's website at www.crowflight.com.
Crowflight Minerals -- Canada's Next Nickel Producer
Crowflight Minerals Inc. is a Canadian junior mining exploration and
development company listed on the TSX Venture Exchange. The Company is
focused on nickel, copper and Platinum Group Mineral ("PGM") projects
in the Thompson Nickel Belt ("TNB") and Sudbury Basin. The Company
currently owns and/or has under option approximately 800 square
kilometres of exploration and development properties in Manitoba and
Ontario.
Crowflight's priority is to bring the Bucko Nickel deposit located near
Wabowden, Manitoba into production late in the second quarter of 2008.
Crowflight is the second largest landholder in the prolific TNB in
Manitoba with interests in approximately 700 square kilometres (270
square miles) and is well positioned to capitalize on potential
development synergies with the proximal location of the Bucko Deposit.
Crowflight plans to spend C$2.8 million on exploration in 2007 in the
TNB. In Sudbury, Crowflight owns a 100% interest in the AER Kidd
project adjacent to Inco's Totten Deposit (10.1 million tonnes grading
1.5% nickel, 2.0% copper, and 4.8 g/t PGM's) and holds property under
option to Wallbridge Mining in the prospective Sudbury North Range
Footwall.
Crowflight continues to explore opportunities to create shareholder
value that capitalize on the depth of the Crowflight exploration and
development team.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the
information in this press release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as "plans",
"proposes", "estimates", "intends", "expects", "believes", "may",
"will" and include without limitation, statements regarding the
Company's plan of business operations; mineral resource estimates, and
projected costs and expenditures. There can be no assurance that such
statements will prove to be accurate; actual results and future events
could differ materially from such statements. Factors that could cause
actual results to differ materially include, among others, metal
prices, competition, risks inherent in the mining industry, and
regulatory risks. Most of these factors are outside the control of the
Company. Investors are cautioned not to put undue reliance on
forward-looking information. Except as otherwise required by
applicable securities statutes or regulation, the Company expressly
disclaims any intent or obligation to update publicly forward-looking
information, whether as a result of new information, future events or
otherwise.
Further information is available on the Company's website at
www.crowflight.com or contact:
Mike Hoffman
President and CEO
Crowflight Minerals
Tel: (416) 861 - 2964
info@crowflight.com
Heather Colpitts
Manager, Investor and Public Relations
Crowflight Minerals
Tel: (416) 861 - 5803
View Map:
http://www.crowflight.com/i/maps/2007-09-17_NRM.gif
View Charts:
http://www.crowflight.com/i/misc/2007-09-17_NRC.gif
View News Release in PDF Format:
Associated File:
http://www.crowflight.com/i/pdf/2007-09-17_NR.pdf
223 KB in size, approx. 43 seconds to download at 56.6Kbps
======================================================================
Copyright (c) 2007 CROWFLIGHT MINERALS INC. (CML) All rights reserved.
For more information visit our website at http://www.crowflight.com/
or send mailto:info@crowflight.com
Message sent on Mon Sep 17, 2007 at 8:10:00 AM Pacific Time
======================================================================
.