OPTIONOR RELEASES
RESULTS ON MANN PROJECT
DRILLING COMMENCES ON LOGAN COPPER PROJECT
September 24, 2008
SNL ENTERPRISES LTD.
(�SNL�, the �Company�) is pleased to provide the following operational update:
Mann Project, Ontario
SNL has been notified by Tres-Or Resources Ltd.
(�Tres-Or�), the optionor and operator of the Mann project, that Tres-Or has
received platinum (Pt) and palladium (Pd) assay results from drilling Tres-Or
conducted in June 2008 on the Mann Project mafic/ultramafic layered intrusion.
The Mann project is located 46 kilometres northeast of Timmins, Ontario. The
drilling program consisted of 3 short holes replicating and extending the hole
MAN07-02, drilled last year at the same site (see news release dated February
22, 2008).
SNL has option rights whereby SNL can acquire from Tres-Or a 50% interest in
the Mann Project from Tres-Or Resources Ltd. Remaining earn-in work commitments pursuant to SNL�s option
require SNL to conduct approximately $307,500 of exploration work on the Mann
project prior to December 31, 2009 in order to earn a 50% interest in that
property. The drill program described herein was conducted independently by
Tres-Or, and thus will not be credited towards our earn-in work commitments.
Assay results from two of the three new holes have been received from ACME
Analytical Laboratories Ltd. in Vancouver, B.C., with results from the third
hole expected soon. The two holes received include: 1) MAN08-05, which twinned
the discovery hole to a total depth of 60 m from the same surface location,
oriented southwest (240�) and inclined at 46 degrees; and 2) MAN08-07, which
was drilled northwest at an orientation of 300� to a total depth of 75 m and
inclination of 48 degrees, from the same surface location.
MAN08-05 was intended to replicate and confirm the shallow Pt and Pd enrichment
discovered last year by the company�s drill hole MAN07-02, which intersected
15.0 m of 0.5 grams per tonne (g/t) Pt + Pd, including a zone of 4.2 m of 1.0
g/t Pt + Pd. The new drill hole MAN08-05 replicated those results, returning
assays of 0.6 g/t over 12.5 m from 17.5 to 30.0 m, including a zone of 1.0 g/t
Pt + Pd over 3.2 m (21.8 to 25.0 m). Platinum comprised 40% of the total of the
combined Pt + Pd reported.
MAN08-07 (in combination with MAN08-06, whose results are still pending) was
intended to help establish structural orientation of the enriched zone, as well
as provide a short range step out of the discovery. Drill hole MAN08-07
returned assays of 0.5 g/t over 14.5 m from 39.5 to 54.0 m, including a zone of
0.9 g/t Pt + Pd over 5.5 m (41.0 to 46.5 m). Platinum comprised 55% of the
total Pt + Pd.
Table 1: Platinum and Palladium enriched intervals in drill holes MAN08-05 and
MAN08-07
Drill Hole #from (m)to (m)interval (m)Pt + Pd (g/t)MAN08-0517.530.012.50.6
including: 21.825.03.21.0MAN08-0739.554.014.50.5 including: 41.046.55.50.9
Preliminary correlation between the drill holes suggests the mineralized Pt +
Pd enriched layer dips to the northeast, and the true structural thickness will
be less than the drill core sample lengths, but the amount of reduction is not
known with confidence. A preliminary estimate of the true thickness will be
made upon receipt of the assay results from the third drill hole MAN08-06,
which was drilled vertically from the same surface location as MAN08-05 and
MAN08-07.
All drill core samples were split and a � split of each interval was shipped
for analysis to ACME Analytical Laboratories Ltd. in Vancouver, British
Columbia fire assay fusion for Pt, Pd and Au using industry standard 30 gram
aliquots and multi element analysis. The methods are the same as described in
detail in the news release dated May 9, 2007.
Harrison Cookenboo, Ph.D., P.Geo., a Qualified Person by the standards of
National Instrument 43-101 has reviewed and approved the technical contents of
this up-date on the Mann Project.
Logan Copper, British Columbia
The Company has expanded its Logan Copper land position by acquiring 475
additional hectares, comprising two tenures. One tenure was acquired by cash
purchase of $3,000, and the second tenure was acquired by staking. The acquired
tenures hold historical reported low-level geophysical and geochemical
anomalies, and in one instance, historically reported mineralization (MINFILE
092ISE190). These tenures are contiguous with our Logan copper property, which
now totals 91 tenures (of which 88 are contiguous) covering approximately
41,250 hectares .
The Company has received permits to commence surface drilling on the Logan
Copper property. We have entered into a contract with a diamond driller, and
commenced drilling today. Our initial drill target is a Mobile Metal Ion
(�MMI�) anomaly correlative with historical geophysical and geochemical
anomalies.
Laurence Sookochoff, P.Eng, a Qualified Person by the standards of National
Instrument 43-101, has reviewed and approved the technical contents of this
up-date on the Logan Copper property. Historically reported exploration
results, including historically reported anomalies and mineralization have not
been verified by the Company, and the reader is cautioned that they may not be
relied upon.
Keystone property, British Columbia
Further to our press release dated August 18, 2008, the Company announces that
it does not expect to conduct an exploration program on the Keystone property
this year.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SNL ENTERPRISES LTD.
�Thal S. Poonian�
President
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.