Metalex Ventures

White Pine JV drills 19.3 m of 10% Zn, 41.5 g/t Ag

2009-01-19 12:49 ET - News Release

See News Release (C-WPR) White Pine Resources Inc

Mr. John Tait of White Pine reports

WHITE PINE (WPR)-METALEX-ARCTIC STAR JOINT VENTURE INTERSECT 19.3M OF 10% ZN AND 41.5G/T AG IN HOLE 5.01-16, 5.01 PROJECT, JAMES BAY LOWLANDS, ONTARIO

White Pine Resources Inc., Metalex Ventures Ltd. and Arctic Star Resources Inc.'s joint venture project along the Ring of Fire, 45 kilometres north of Noront Resources Ltd.'s Eagle One deposit, has encountered additional volcanic derived sulphides (VDS) mineralization on its 5.01 discovery, James Bay, Ont. The property consisting of 160 acres is under option by WPR, whereby WPR can earn up to a 50-per-cent interest in the property (WPR has earned 25 per cent to date). Within the option agreement covering approximately 21,400 hectares, there are numerous other high priority targets.

To date, on the 5.01 discovery, 42 holes (1-41 and 43) have been completed totalling 10,786 metres. The high-grade zinc-copper-lead-silver mineralized zone has been delineated over a north-south strike length of 200 metres and to a vertical depth of 275 m from surface. The zone dips steeply at 75 degrees to the east and appears to have a steep 65-degree plunge to the south. Horizontal widths of the high-grade zone can reach up to 22 m.

The following table summarizes the recent drilling on 5.01 on holes 16-43 with significant mineralized intervals.

           RECENT DRILLING RESULTS FROM 5.01 ON HOLES 16-43

Hole          From        To     Length      Cu        Pb      Zn    Ag
                (m)       (m)        (m)      %         %       %   g/t
5.01-16       67.0      77.0       10.0    0.33      0.14    1.79   6.8
              79.0     120.0       41.0    0.59      0.00    0.10   5.2
             167.4     186.7       19.3    0.10      1.85   10.02  41.5
including    167.4     171.8        4.4    0.12      2.79   19.32  63.1
5.01-17      186.2     188.2        2.0    0.58      0.00    2.37   3.4
5.01-19       82.8      93.8       11.0    0.47      0.16    4.54   7.8
             120.8     128.8        8.0    0.11      0.04    3.62   9.0
5.01-20       73.7      84.1       10.4    0.24      0.15    6.65   3.9
             103.0     124.8       21.8    0.10      0.30    1.29  17.3
             195.5     209.0       13.5    0.13      0.01    1.28   5.4
5.01-21       57.4      89.0       31.6    0.64      0.10    3.70   7.9
including     57.4      76.0       18.6    0.75      0.17    5.11   9.9
5.01-22      236.5     283.4       46.9    0.19      0.00    1.00   1.9
5.01-24      179.9     187.2        7.3    0.39      0.14    4.46   9.3
5.01-25      270.7     274.3        3.6    0.17      0.00    4.56   1.8
5.01-26       90.0      97.5        7.5    0.08      0.07    4.92   5.4
5.01-28       24.0      31.7        7.7    0.62      0.01    0.22   4.7
5.01-29      127.4     148.1       20.7    0.22      0.19    6.35   9.5
5.01-30       94.9     111.5       16.6    0.50      0.07    2.77  10.2
including     94.9      98.6        3.7    0.33      0.22    6.85   8.6
5.01-31      127.5     135.0        7.5    0.18      0.04    1.90   6.2
5.01-32      204.3     246.5       42.2    0.52      0.02    3.12   6.3
including    204.3     230.5       26.2    0.26      0.03    4.65   4.6
5.01-33      165.8     172.1        6.3    0.14      0.03    3.60   3.6
             205.3     218.3       13.0    0.04      0.04    1.21   3.3
5.01-35      268.3     285.4       17.1    0.46      0.00    1.55   8.9
5.01-37      240.9     245.7        4.8    0.47      0.01    5.97   4.4

The widths given are core widths only and do not represent true widths which cannot be determined at this time.

The 5.01 project is managed by WPR for the joint venture partners under supervision of Mike Kilbourne, PGeo, president, White Pine Resources. Metalex Ventures remains the operator. Mr. Kilbourne prepared this release and states: "We are pleased with the results of the second phase of drilling. We had a very favourable hit to miss ratio as the new interpretation of the geometry of the zone proved to be correct. We also intersected and interpreted geological units, mineralogical patterns and alteration minerals all indicative of world-class VMS deposits. Further work will include some deep penetrating geophysical surveys to aid in defining additional drill targets as the zone remains open at depth."

We seek Safe Harbor.