Headline: Tribute Minerals Update on 2010 Drilling Program
Symbol: TBM
TORONTO, ONTARIO--(Marketwire - March 30, 2010) - Tribute Minerals Inc. (TSX VENTURE:TBM) announces the completion of diamond drilling from its winter 2010 program. Tribute drilled 1907 metres in 8 holes and on its wholly owned South Bend Property located in the \"Ring of Fire\" property package of the James Bay Lowlands. The drill targets are located 30 km east southeast of the First Nation community of Webequie and 40 kilometres west of Noront's Eagle Nest Ni-Cu-PGE Deposit.
The results continue to be encouraging because six out of the seven drill holes testing the two kilometre long Sunday Anomaly trend during the winter program continued to intersect significant sulphidic intersections hosted in amphibolite rocks of mafic to ultrabasic composition interspersed with sections of granite gneiss and granodiorite. The results are outlined as follows:
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Orientation Interval
Coordinates AZ (m) Width Description of
Hole # NAD83 UTM & dip (deg) Downhole (m) Mineralization
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SB-10-08 506100E 000 / -55 89.0-118.9 29.9 intermittent diss. And
5854690N stringer sulphides
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SB-10-09 506660E 000 / -60 180.8-183.8 3.0 diss. and stringer
5854620N 207.9-209.8 1.9 sulphides
209.8-216.8 7.0 semi-massive sulphides
intermittent diss. and
stringer sulphides
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SB-10-10 507500E 000 / -55 65.9-67.7 1.8 diss. and stringer
5854850N sulphides
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SB-10-11 506050E 180 / -65 252.4-278.2 25.8 intermittent banded
5839680N and diss. magnetite
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SB-10-12 506660E 000 / -70 324.4-325.8 1.4 diss. and stringer
5854550N 334.6-342.1 7.5 sulphides
356.1-376.1 20.0 diss. and stringer
sulphides
intermittent diss. and
stringer sulphides
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SB-10-13 506600E 000 / -60 40.5-42.5 2.0 semi-massive sulphides
5854740N 63.6-71.6 8.0 diss. and stringer
78.9-85.0 6.1 sulphides
diss. and stringer
sulphides
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SB-10-14 506600E 000 / -80 133.2-134.8 1.6 diss. and stringer
5854740N 139.6-143.9 4.3 sulphides
155.2-156.9 1.7 diss. and stringer
sulphides
diss. and stringer
sulphides
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SB-10-15 506660E 000 / -82 365-385 20 Fault zone
5854550N (fault zone) intersected, no
significant sulphides
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All the holes were completed along the Sunday Anomaly trend with the exception of SB-10-11 that tested a separate VTEM anomaly 20 km to the south. Hole SB-10-08 extended the sulphidic zone along the trend a further 500 metres to the west. Hole SB-10-12 is of interest because the sulphidic zone appears to be thickening down-dip in the centre of the Sunday Anomaly trend. Assay results have been completed for the first three holes with SB-10-09 reporting significant copper, cobalt and silver values grading 1.05% Cu, 0.06% Co and 8.9 g/t Ag from 207.9-209.8 metres down-hole. SB-10-09 tested an off-hole CRONE BOREHOLE EM anomaly from Hole SB-09-01 situated down-dip in the direction the ZTEM anomaly discussed in previous news releases. Hole SB-10-08 returned a single significant assay of 0.21% Cu and 2.8 g/t Ag from 89.0-90.2 metres down-hole. Hole SB-10-10, located a kilometre east of SB-09-01, tested the main magnetic high anomaly along the Sunday Anomaly trend with a single significant assay of 0.16% Cu and 1.2 g/t Ag from 65.9-66.8 metres down-hole. Samples were sent out for assay for all of the holes and results remain pending for holes SB-10-11 to SB-10-15.
The Sunday Anomaly lies within an interpreted major regional east-west magnetic trend that stretches for 24 kilometres which was staked by Tribute in November and December, 2009 based upon the results of the fall drill program. Management believes this trend is favourable for hosting magmatic massive sulphide type mineralization similar to that found at Eagle One. With the exception of the Sunday Anomaly, this newly acquired wholly owned ground remains unexplored.
Ian Brodie-Brown President of Tribute comments, \"Management is encouraged with the results and intends to pursue remaining geophysical targets on the property and explore further the interesting sulphide mineralization found to date with additional borehole geophysical surveys and drilling after break-up. Tribute is also very pleased that the Ring of Fire has now received serious attention from the provincial government with the recent budget announcement of new initiatives ($45M) for training and development. The government is focusing on the Ring of Fire and there will be government commissioned gravity airborne geophysical surveys that will help upgrade our extensive land package.\"
Tribute now wholly owns approximately 39,500 hectares of claimed ground in the Mc Faulds Camp making it one of the largest 100% exploration landholders in the region. Tribute also has a very strong working relationship with the Webequie people on whose traditional lands this work is being conducted. As per our arrangement with Webequie the camp has been closed for the spring season so the band can conduct their traditional spring goose hunt, and the Tribute camp will be used by the Chief and his family to participate in this important harvesting tradition.
The drill samples sent for assay were split in half using a diamond saw, sealed in secure packages, and shipped by bonded carrier to Activation Laboratories in Geraldton, Ontario for preparation. Sample pulps were then shipped to Activation Laboratories in Thunder Bay using analytical methods of total digestion by Code IF2 ICP for multi-element scan and Code 1C Fire Assay ICP-OES for Au, Pt and Pd. Code 8 ore grade analysis was completed for samples with Cu values containing greater than 10,000 ppm. A duplicate unknown to the laboratory was submitted per batch of ten samples. A polymetallic standard and a blank, unknown to the laboratories, were included with each batch of 30 samples. Activation Laboratories fulfilled standard QA/QC protocols.
The South Bend exploration program is under the direction of Trevor Boyd, P.Geo, Vice President Exploration, Tribute, and a qualified person (QP) for the purposes of NI 43-101.
On behalf of the Board of Directors,
