Vena Upgrades 1,000,000 Tonnes to Measured Resources at Azulcocha

July 10, 2010 By Leave a Comment

TORONTO, ONTARIO, Jul 09 (MARKET WIRE) —
Vena Resources Inc. (TSX: VEM)(LIMA: VEM)(FRANKFURT: V1R)(OTCBB: VNARF),
a Company with strong partnerships with four of the world’s largest
mining companies, is pleased to announce that Henkle and Associates has
completed the resource estimate for Vena’s Azulcocha mine. The updated
estimate significantly upgrades the tonnage available for production in
the near term. Henkle’s report will be published within 45 days and will
include a resource estimate for the Manganese mineralized portions of the
Azulcocha Cuerpo as well.

In February 2008, Vena reported an “indicated resource” of 865,132 tonnes
containing 10% Zinc at a cut-off of 5%. Based on the ongoing underground
work that has been undertaken since 2008, Vena can now report that it has
upgraded more than 900,000 tonnes to a “measured resource” category as
well as additional indicated and inferred tonnage as the following table
outlines:

—————————————————————————-

% Cut-Off Measured % Zinc % Mn Indicated % Zinc % Mn Inferred % Zinc % Mn
—————————————————————————-
5.00 902,457 8.40 11.60 771,941 7.90 9.90 320,310 8.10 6.00
4.00 1,023,094 7.90 11.70 978,808 7.20 12.10 424,832 7.30 10.80
3.00 1,381,083 6.70 12.80 1,299,343 6.20 12.90 570,292 6.30 12.50
2.50 1,417,811 6.60 12.80 1,358,573 6.10 12.70 627,780 6.00 12.60
—————————————————————————-

Juan Vegarra, Chairman and CEO of Vena commented:

“We are pleased to report more than 900,000 tonnes of measured resources
as well as a significant upside in the indicated/inferred category. We
are confident that the final NI 43-101 report will contain significant
credits in the Manganese mineralized portions of the Cuerpo to make
Azulcocha a viable mine given current market prices.”

This report was prepared by William R. Henkle, Jr., P.Geo., Vena’s
Qualified Person as defined by NI 43-101.

About Vena Resources

Vena Resources Inc. is a Canadian mining company focused on the
exploration and development of Peru’s mineral potential. Employing a
model of diversification across metals and regions in Peru to mitigate
investment risk, the Company consists of four divisions: Mining, Clean
Energy, Precious Metals and Base Metals. Together with the Company’s
strategic partners, Cameco, Gold Fields, Glencore and Trafigura, Vena
will advance its significant portfolio of almost 75,000 hectares this
year. Through its board of directors and advisors, Vena Resources
possesses a unique quality of skills and experience in management, mining
and finance globally.

Statements in this press release regarding the Company’s business which
are not historical facts are “forward-looking statements” that involve
risks and uncertainties, such as estimates and statements that describe
the Company’s future plans, objectives or goals, including words to the
effect that the Company or management expects a stated condition or
result to occur. Since forward-looking statements address future events
and conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ materially from
those currently anticipated in such statements.

Shares Outstanding: 88,429,910

Fully-Diluted: 103,253,944

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

Contacts:
Vena Resources Inc.
Juan Vegarra
Chairman & CEO
(416) 364-7739, ext. 120
jvegarra@venaresources.com

Vena Resources Inc.
Andres Tinajero
Chief Financial Officer
(416) 361-2838
atinajero@venaresources.com
www.venaresources.com

Copyright 2010, Market Wire, All rights reserved.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , ,

Lappland Goldminers AB: Lappland Goldminers AB – Strategic update and first report from the Fäboliden feasibility work.

July 6, 2010 By Leave a Comment

The new mineral resource estimate for Fäboliden forms the basis of open pit optimisation
and studies into options for underground mining. The ongoing feasibility studies will
seek to establish the optimum mining rate and extraction of payable ore.

The Fäboliden gold mineralisation is a central part in the strategy for Lappland
Goldminers to develop as a major gold producing mining company in Europe. Golder
Associates, a renowned international consulting company, has finalised their review of
the mineral resource estimate which will, together with capital investment and operating
costs, form the basis of a new ore reserve calculation which will be reported on in the
feasibility study.

The updated resource estimate shows that the measured and indicated mineral resource at
a cut-off grade of 0.4 grams of gold per tonne amounts to 57.8 million tonnes with 1.05
grams of gold per tonne and 2.81 grams of silver per tonne. In addition there is an
inferred mineral resource of 32.4 million tonnes with 1.04 grams of gold per tonne and
with 3.37 grams of silver per tonne. As shown in Table 1, both tonnage and gold grades
in the measured and indicated mineral resource are lower than previously reported
estimates.

Golder Associates has also estimated the measured and indicated mineral resources at
different cut-off grades as shown in Table 2. This shows the variations of gold and
silver grades and tonnages with varying cut-off grades.

The lower gold grade in the measured and indicated category at a cut-off of 0.4 grams of
gold per tonne impacts the future circumstances for profitable mining and will be
dependent the future level of the gold price expressed in SEK. The feasibility study
will therefore need to consider cut-off grades appropriate to the mining methods now
under consideration. This means selective mining of higher grade portions of the
mineralisation will be investigated that may result in lower production rates and plant
throughputs and a shorter mine life.

If the current high gold price (about 300 SEK per gram) persists, it will have a
positive impact on the study.

The updated mineral resource estimate has led to a need to consider alternative
selective underground mining methods and the need to define a new production optimum. As
a result of these additional studies, the feasibility study is now due to be completed
in the second quarter of 2011.

Fäboliden Mineral Resource Estimate June 2010.pdf

https://hugin.info/134992/R/1429489/376536.pdf

The efforts to increase the ore reserves continues in Pahtavaara.

Pahtavaara mine, where Lappland Goldminers has ongoing gold production, is located in
the municipality of Sodankylä in Finland. The area is considered to have great potential
to host additional gold mineralisation’s that could be mined and sent to the company´s
concentrator. The shallow parts of the Länsi mineralisation, located immediately
adjacent to the existing mine, has been drilled and investigated with 31 core drill
holes and 13 reverse circulation holes (totally 4 700 meter). Measured and indicated
mineral resources are estimated to 60.0 thousand tonnes with 2.97 grams of gold per
tonne (Table 3). The estimate is carried out by T. Lindholm (GeoVista AB) that is an
independent consultant and qualified person (QP), according to the Svemin, the FinnMin
and the JORC codes for reporting.

Estimate of Länsi mineral resource June 2010.pdf

https://hugin.info/134992/R/1429501/376558.pdf

The Länsi mineralisation is still open towards northwest and towards depth. A drilling
program comprising 6000 meter, where the majority is drilled in the Länsi area, has
started in June to investigate the mineralisation further.

Continued core drilling at Ersmarksberget

During the fourth quarter of 2009, a drilling program was resumed to investigate the
previously identified Central and South One gold mineralisation´s at depth. Within the
current mining concession, fourteen core drill holes were drilled (3 400 meter). The
analyses from eight holes aimed at Central and from two aimed at South One, are
available for disclosure (Table 4). The results so far indicate that further drilling is
required towards depth in Central mineralisation. South One mineralisation has been
extended and is still open to the south. An additional drill program comprising of 3 000
meter core drilling has been started during May 2010.

Ersmarksberget Core Drilling Phase I.pdf https://hugin.info/134992/R/1429489/376538.pdf

The goal for the ongoing investigation at Ersmarksberget is to define enough mineral
reserves to allow for profitable mining. If the outcome of the investigation is positive
a mineral resource estimate will be finalised. After metallurgical tests and estimates
of operating costs and a subsequent calculations of ore reserves it should possible to
make a decision in quarter three 2010 about the potential future start up of production.

For further information:

Kjell Larsson, CEO
Tel 0950-27506 eller 070-385 03 57
E-mail: kjell.larsson@lgold.se mailto:kjell.larsson@lgold.se

Also visit:

www.lapplandgoldminers.com

About Mangold Fondkommission: www.mangold.se http://www.mangold.se/

The technical part of this press release has been approved by Risto Virkkunen, the
company´s and by SveMin and FinnMin registered qualified person (QP).

Lappland Goldminers AB is a producing mining company with significant exploration
activities. The Company is listed on the market place First North Premier under the name
GOLD, with Mangold Fondkommission AB as Certified Adviser, as well as on the Norwegian
OTC list. Lappland Goldminers’ strategy is to develop mineral deposits into profitable
producing mines. The Company is strategically positioned with the the fully permitted
Fäboliden gold project and the Ersmarksberget deposit and processing plant in northern
Sweden. The Pahtavaara gold operation is located in the north of Finland and the Haveri
gold deposit in the south of Finland. Lappland Goldminers is a member of SveMin, the
Swedish association for mines, minerals and metal producers, and follows SveMin’s
reporting rules for public mining and exploration companies.

HUG#1429501

Fäboliden Mineral Resource Estimate June 2010

http://hugin.info/134992/R/1429501/376557.pdf

Estimate of Länsi mineral resource June 2010

http://hugin.info/134992/R/1429501/376558.pdf

Ersmarksberget Core Drilling Phase I.pdf http://hugin.info/134992/R/1429501/376559.pdf

Press release (PDF) http://hugin.info/134992/R/1429501/376556.pdf

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Sacre-Coeur Reports Further Stepout Drilling Results for Zone 1 Hard-Rock Deposit at Million Mountain Project in Guyana: 68.65 M @ 0.94 g/t Au

June 17, 2010 By Leave a Comment

VANCOUVER, British Columbia–(Business Wire)–
SACRE-COEUR MINERALS, LTD. (the “Company”) today announced further results from
its current drilling program aimed at expanding the Zone 1 resource on its
Million Mountain property located in Guyana. Drill hole MM17610 returned 68.65
meters grading 0.94 g/t Au, which includes 1.0 meter grading 9.18 g/t Au, 1.0
meter grading 6.30 g/t Au, and 1 meter grading 7.26 g/t Au. Though
discontinuous, five other narrow zones grading over 2.0 g/t Au were encountered,
including 0.47 meters grading 13.44 g/t Au, and 0.53 meters grading 8.62 g/t Au
along with numerous narrow zones grading greater than 0.5 g/t Au in the 462.7
meter hole.

In September 2008, the Company reported an NI 43-101 compliant interim resource
estimate which revealed Measured Resources of 12,119,285 tonnes grading 1.0 g/t
Au and Indicated Resources of 2,175,278 tons grading 0.9 g/t Au. Total contained
gold is 451,397 tr oz Au (388,456 tr oz Au Measured and 62,941 tr oz Au
Indicated). Following this initial resource development effort, drilling was
temporarily diverted toward scout drilling multiple preliminary targets which
had been developed along the 20km Million Mountain trend on the Company`s Lower
Puruni Block in order to identify and prioritize additional key zones along the
trend for further target refinement prior to commissioning resource drilling on
these additional zones. The scout drilling work was completed at year end 2009.
Commencing in early 2010, drilling was again focused on Million Mountain Zone 1
to continue expansion of the Zone 1 resource.

The current phase of resource expansion drilling has included slightly more than
4,660 meters drilled to date in nine holes. Results of the first seven of these
were reported in May 2010. The goal of this phase of drilling is to better
understand the plumbing of the mineralizing system, to identify key structural
controls both pre and post mineralization, and to develop drilling data for
expansion of the NI 43-101 compliant resource. This phase of drilling is testing
for continuation of the mineralized body to the North, East, South, and at
greater depth than the original resource drilling.

A table of selected drilling results from the current program is presented
overleaf, followed by a table of drill hole survey data.

TABLE OF SELECTED DRILL RESULTS

Drill Hole From (m) To (m) Interval (m) Assay (g/t Au)
MM17610 0.0 68.65 68.65 0.94
including 50.2 51.2 1.0 9.18
including 57.48 58.48 1.0 6.3
including 59.48 60.48 1.0 7.26
MM17610 197.95 198.42 0.47 13.44
MM17610 324.6 325.13 0.53 8.62
MM17610 333.08 334.08 1.0 3.25
MM17610 354.55 355.55 1.0 2.32
MM17710 32.5 56.1 23.6 0.53

Notes: 1) Intercepts are not resolved to true width. 2) Assays are uncut, though
no significant statistical outliers occur in the sample population.

DRILL HOLE SURVEY DATA

HoleID East (m) North (m) Elevation (m) Total Depth (m) Azimuth Dip
MM17610 240936.2 697093.6 91.7 462.7 105 -58
MM17710 240994.8 696826.2 84.7 204 284 -57

All drill holes in this program, though in some instances collared near holes
included in the existing resource model, were drilled with azimuths and dips to
target untested potential extensions of the current resource body to the North,
East, South, and at greater depth than the original phase of resource drilling.

Zone 1 step out drilling continues to add positive intercepts which will further
add to the resource estimate for Zone 1 at next update. Advances in Zone 1
hard-rock resource development as well as the recent successful conversion to
hydraulic mining of nearby alluvial material are significant advances for the
Company.

Technical Staff

The Company`s mining and exploration program is overseen by Mr. A. David Heyl,
P. Geo., Director Mining and Exploration for the Company. Exploration is
directed by Mr. Henry Salvado, Chief Geologist. The Mr. Henry is assisted on the
hard-rock exploration program by Mr. Wilmar Ladia, and by Mr. Bjorn Jeune, both
Senior Project Geologists with many years gold experience. Mr. Ardito
Martohardjono is a Director of the Company, and a laboratory specialist who
provides assistance establishing lab protocols, sample handling procedures, and
assay quality control. The undersigned, Mr. Heyl, and Mr. Salvado are qualified
persons under NI 43-101.

About Sacre-Coeur

The Company is engaged in the acquisition, exploration and development of
properties for the potential mining of gold, metals and diamonds in South
America, initially focussing on exploration for gold on its properties in
Guyana. The Company presently has an interest in approximately 1000 sq. km of
mineral properties in Guyana, including the Million Mountain Property. The
Company has offices in Vancouver, Canada and Georgetown, Guyana. More
information about the Company is available at .

ON BEHALF OF THE BOARD OF DIRECTORS OF

SACRE-COEUR MINERALS, LTD.

“Gregory B. Sparks”

Gregory B. Sparks

President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of the content of the information contained herein. The
statements made in this press release may contain certain forward-looking
statements that involve a number of risks and uncertainties. Actual events or
results may differ from the Company`s expectations. There is no guarantee that
the tenor or continuity of the resource target discussed herein will ultimately
prove to be as delineated in the Company`s sampling program, nor that the yields
obtained by production scale gravity extraction will be comparable to the yields
produced in the sampling program.

Sacre-Coeur Minerals, Ltd.
Gregory Sparks, 604-899-0100
President and CEO
Fax: 604-899-0200
greg@scminerals.com
or
Scott Young, 604-899-0100 / 705-888-2756 (Cellular)
Corporate Communications
Fax: 604-899-0200
scott@scminerals.com

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

MBAC Fertilizer Corp. Announces Recent Drilling Results for the Itafos Phosphate Project

June 12, 2010 By Leave a Comment

TORONTO, ONTARIO, Jun 11 (MARKET WIRE) —
MBAC Fertilizer Corp. (TSX: MBC) (“MBAC” or the
“Company”) is pleased to report on recent drilling at its
wholly-owned Arraias-Campos Belos Phosphate Project (“Itafos”
or “Project”). This recent drilling is subsequent to the drill
results in the mineral resource estimate issued on May 17, 2010.

The goal of this recent program was to upgrade inferred resources to
measured and indicated resources in order to complete an updated resource
estimate for the definitive feasibility study on the Project
(“Definitive Feasibility Study”) which is expected to be
finalized by the end of July 2010.

Since the last resource estimate, an additional 13,228 meters have been
drilled with 382 new holes at a nominal 100 x 100 meters spacing. The
drilling confirms that phosphate ore is continuous and extends both north
and south of the existing Near Mine mineralization.

Antenor Silva, President and CEO, stated “we are very pleased with
the recent drill results as they have exceeded our expectations on grade,
strip ratio and continuity. In addition, they are expected to materially
increase measured and indicated resources from the 28.3 million tonnes
reported in the previous 43-101. This will support a new mine plan,
reserve estimate and economic analysis for the Definitive Feasibility
Study. We believe that these recent drilling results support the upside
potential for a significant increase in the value of the project.”

Project Background

Itafos is located in the municipality of Arraias, in the southeast of
Tocantins state, just a few kilometres away from Campos Belos, a town in
the Goias state in central Brazil.

MBAC is currently focused on the development of the Itafos which is
expected to commence production by the second quarter of 2012. At full
capacity, the proposed beneficiation plant is expected to generate 330
ktpa of phosphate rock concentrate at 28% P2O5. This phosphate
concentrate will be used to produce 500 ktpa of Single Super Phosphate
(“SSP”).

New exploration results

Since the last resource estimate, an additional 13,228 meters have been
drilled with 382 new holes at a nominal 100 x 100 meters spacing with the
objective of converting those Inferred Resources to Measured and
Indicated Resources reported by Wardrop on May 17, 2010.

Core Reverse Circulation Total

Calendar Years Holes m Holes m Holes M
—————- —————- ——————– —————-
Calendar 2008 198 7,014 – – 198 7,014
Calendar 2009 373 14,505 3 63 376 14,568
2010, to May 31 157 4,702 1,189 41,651 1,346 46,353
—————- ——————– —————-
Totals 728 26,221 1,192 41,714 1,920 67,935
—————- ——————– —————-

The 100 x 100 meters in-fill drilling campaign first targeted inner
parts of the Near Mine Block that had previously been drilled at 200 x
200 meters spacing (the Inferred Resource of which had been calculated on
the basis of block modeling techniques) and then targeted those Near Mine
areas referred to as Canabrava and Domingos that had previously been
drilled at 400 x 400 meters spacing (with a resource base calculated on
the basis of a polygonal inferred resource estimate).

Samples from the additional drilling have been submitted to the certified
international laboratory. Chemex Ltd (ALS), with the following key-note
intercepts being recorded thus far for Canabrava and Domingos:

Canabrava Area
CABR-RC-0106: 11.00m @ 10.89% P2O5, starting at 26m, including 29-36m
@ 14.90% P2O5.
CABR-RC-0116: 23.00m @ 6.94% P2O5, starting at 27m, including 27-36m
@ 11.76% P2O5.
CABR-RC-0083: 23.00m @ 4.71% P2O5 starting at 16m, including 18-24m @ 5.91%
P2O5 and 33-35 @ 8.29% P2O5.
CABR-DD-0071: 16.00m @ 7.02% P2O5, starting at 11.3m, including 11.3-23.8m
@ 9.20 % P2O5
CABR-RC-0097: 20.00m @ 17.11% P2O5, starting at 17m, including 25-37m
@ 20.24% P2O5.
CABR-RC-0099: 19.00m @ 10.27% P2O5, starting at 18m, including 21-28m
@ 14.21% P2O5.
CABR-RC-0113: 21.00m @ 10.03% P2O5, starting at 12m, including 24-32m
@ 14.09% P2O5.
CABR-DD-0008: 18.40m @ 9.01% P2O5 starting at 6m until EOH at 30.40m.
CABR-DD-0002: 18.60m @ 8.75% P2O5, starting at 10m, including 17.12-
28.6m @ 10.26% P2O5.
CABR-RC-0040: 31.00m @ 5.23% P2O5, starting at 16m, including 16-30m
@ 5.46% P2O5, 32-40m @ 6.21% P2O5 and 45-50m @ 4.84% P2O5.

Domingos Area
DOMI-RC-0033: 24.00m @ 14.85% P2O5, starting at 10m, including 10-25m
@ 19.44% P2O5 and 25-34m @ 7.20% P2O5.
DOMI-RC-0063: 27.00m @ 9.06% P2O5, starting at 15m, including 15-26m
@ 13.32% P2O5 and 26-42m @ 6.13% P2O5.
DOMI-RC-0105: 11.00m @ 11.07% P2O5, starting at 22m, including 22-26m
@ 7.74% P2O5 and 26-33m @ 12.97% P2O5.
DOMI-RC-0112: 15.00m @ 5.11% P2O5, starting at 23m, including 23-31m @ 5.44%
P2O5 and 31-38m @ 4.74% P2O5.
DOMI-RC-0110: 19.00m @ 7.41% P2O5, starting at 27m, including 27-42m @ 8.07%
P2O5 and 43-46m @ 6.03% P2O5.
DOMI-RC-0136: 10.00m @ 17.20% P2O5, starting at 15m.
DOMI-RC-0108: 16.00m @ 11.55% P2O5, starting at 30m, including 30-34m
@ 13.74% P2O5 and 37-41m @ 19.86% P2O5.
DOMI-RC-0109: 23.00m @ 11.55% P2O5, starting at 27m, including 27-37m
@ 16.47% P2O5 and 45-50m @ 8.25% P2O5- Hole stopped at 50m @ 11% P2O5.
DOMI-RC-0119: 16.00m @ 12.43% P2O5, starting at 3m, including 3-11m @ 17.30%
P2O5 and 12-19m @ 6.17% P2O5.
DOMI-RC-0131: 18.00m @ 7.05% P2O5, starting at 15m, including 15-22m
@ 10.17% P2O5 and 28-33m @ 6.05% P2O5.

Those and all other new drilling information and analytical results
are presently being compiled and will soon be submitted to Wardrop
Engineering Inc. for incorporation in the database and re-run of the
Mineral Resources estimate by means of appropriate block modeling
techniques and interpolation parameters for the stratiform mineralization
style found at Itafos.

Dr. Luiz A. Bizzi, PhD, MBA & P.Geo., Vice-President, Exploration of MBAC
Fertilizers, is a Qualified Person as defined by National Instrument
43-101 and has reviewed and approved the contents of this news release as
applicable.

About MBAC Fertilizer Corp.

MBAC Fertilizer Corp. is focused on becoming a significant integrated
producer of phosphate and potash fertilizer in the Brazilian market. In
October 2008, MBAC indirectly acquired all of Itafos Mineracao Ltda,
which holds a 100% interest in the Itafos phosphate mine and related
infrastructure (the “Arraias-Campos Belos Project” also
referred herein as “Itafos” or Project”). MBAC is
continuing to search for additional fertilizer opportunities in the
Brazilian and other Latin-American markets. Strong agricultural
fundamentals in Latin-America combined with unique opportunities in
Brazil are expected to provide attractive growth opportunities for MBAC.

To learn more about MBAC, please visit our website www.mbacfert.com.

Cautionary Note Regarding Forward-Looking Information

This press release contains “forward-looking information”
within the meaning of applicable Canadian securities legislation. The
forward-looking information contained in this press release includes, but
is not limited to, statements with respect to the conclusions drawn in
the AMEC study, the long-term potential value of the coastal potash
project, MBAC’s intention to advance the Coastal Potash Project to the
next stage of development, MBAC’s vision to become a significant
integrated producer of phosphate and potash fertilizer in the Brazilian
market, and MBAC’s expectation that strong agricultural fundamentals in
Latin America will provide attractive growth opportunities.

The forward-looking information contained in this press release is based
on the opinions, assumptions and estimates of management and third party
sources, which are considered to be reasonable and accurate as at the
date the information is presented, and are inherently subject to a
variety of risks and uncertainties and other known and unknown factors
that could cause actual events or results to differ materially from those
projected in the forward-looking information. These factors include
various exploration and development risks, environmental risks and
hazards, uncertainty with respect to current global financial conditions,
uncertainty with respect to the estimation of mineral reserves and
mineral resources, the need for additional resources, uncertainty with
respect to inferred mineral resources, insurance and uninsured risks,
potential increases in production costs, competition within the mining
industry and, in particular, the fertilizer production business in Brazil
and elsewhere, the need to obtain additional capital, fluctuations in
currency values, the ability to effectively integrate any future
acquisitions into its business structure, uncertainty with respect to
governmental regulation of the mining industry, risks relating to foreign
operations, labour and employment risks, dependence upon key management
personnel and executives, possible conflicts of interest with respect to
directors and executive officers who serve as directors and/or officers
of other companies involved in natural resource exploration and
development, climate change, and volatility in the Company’s stock price.
Although the Company has attempted to identify important factors that
could cause actual actions, events or results to differ materially from
those described in forward-looking information, there may be other
factors that cause actions, events or results not to be anticipated,
estimated or intended. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Potential investors are cautioned not to place undue
reliance on forward-looking information. The forward-looking information
contained in this press release is included for the purpose of assisting
potential investors in understanding the Company’s expected financial and
operational performance and the Company’s plans and objectives and may
not be appropriate for other purposes. Potential investors should conduct
their own investigations as to the suitability of investing in securities
of MBAC.

Contacts:
MBAC Fertilizer Corp.
Steve Burleton, CFA
Vice President, Corporate Development
416-367-2200
Investor@mbacfert.com
www.mbacfert.com

Copyright 2010, Market Wire, All rights reserved.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Largo to Complete Preliminary Economic Assessment (PEA) on Northern Dancer Project, Yukon

June 1, 2010 By Leave a Comment

TORONTO, ONTARIO, May 31 (MARKET WIRE) —
Largo Resources Ltd. (TSX VENTURE: LGO) announces that it intends to
complete a Preliminary Economic Assessment (PEA) on its Northern Dancer
Project, Yukon by the fourth quarter of 2010. Largo is currently in the
process of contacting a number of engineering firms to quote on the study.

The updated mineral resource estimate (March 14, 2009) for the deposit
will form the basis for the study. This resource is as follows at a
cut-off grade of 0.06% WO3: Measured mineral resources of 30.8 million
tonnes grading 0.114% WO3 and 0.030% Mo, Indicated mineral resources of
192.6 million tonnes grading 0.100% WO3 and 0.029% Mo. The Measured and
Indicated mineral resource estimate contains 500.1 million pounds of WO3
(226.9 k tonnes) and 143.8 million pounds of Mo (65.2 k tonnes). Inferred
mineral resources were estimated to be 201.2 million tonnes grading
0.089% WO3 and 0.024% Mo containing 393.1 million pounds of WO3 (178.3 k
tonnes) and 107.7 million pounds of Mo (48.9 k tonnes) (for details of
resource estimate, see March 12, 2009 press release).

Most importantly, the 2008 drilling program provided much better
definition of the higher-grade zone which is estimated to contain a
Measured and Indicated resource of 60.3 million tonnes grading 0.137% WO3
and 0.045% Mo (WO3 equiv 0.215%) and Inferred mineral resource of 5.4
million tonnes grading 0.134% WO3 and 0.047% Mo (WO3 equiv 0.214%) at a
0.17% WO3 equivalent cut-off grade (for details of resource estimate, see
March 12, 2009 press release).

Andy Campbell, Vice-President, Exploration for Largo, stated:
“Recent metal prices for tungsten and molybdenum are on the rise,
which is very encouraging for Northern Dancer. Largo has very
successfully upgraded the resource and confirmed a significant high grade
zone. The PEA will be a good road map for moving the project forward into
the next phase. The deposit now has a substantial Measured and Indicated
resource that includes the higher-grade zone which could support a
pre-feasibility study.”

The Northern Dancer deposit is one of the world’s largest known
tungsten-molybdenum porphyry systems. Tungsten and molybdenum
mineralization are concentrated in two zones which partially overlap. The
mineralization is hosted in fractures, veinlets and veins associated with
a northeast-trending sheeted vein structure hosted in calc-silicate
(skarn) rocks and spatially related to a felsic intrusion
(quartz-feldspar porphyry). The deposit, which has been tested by
drilling for 1.2 kilometres along strike, 500 metres vertically and 600
metres in width, remains open along strike to both the northeast and
southwest as well as at depth. In the core of the deposit, there is a
higher grade molybdenum zone where molybdenite occurs within and adjacent
to the felsic intrusion. Surrounding and partially overlapping the
molybdenum zone is a much more extensive tungsten zone where scheelite
occurs in the northeast-trending sheeted quartz veins structure.

Mr. Andy Campbell, P.Geo. is the Qualified Person as defined under
National Instrument 43-101 responsible for the scientific and technical
work on the program.

About Largo

Largo Resources Ltd. is a Canadian natural resource development and
exploration company with two advanced stage projects: the Maracas
Vanadium-PGM deposit in Brazil and the Northern Dancer
Tungsten-Molybdenum deposit in the Yukon. The Company also owns the Campo
Alegre de Lourdes Vanadium exploration project in Brazil. The company is
listed on the TSX Venture Exchange under the symbol LGO.

For more information please refer to Largo’s website:
www.largoresources.com.

Disclaimer

This press release contains forward-looking statements under Canadian
securities legislation. Forward-looking statements include, but are not
limited to, statements with respect to the proposed use of proceeds,
receipt of regulatory approval; completion of the financing on the terms
proposed; Largo’s development potential and timetable of the Maracas and
Northern Dancer projects; Largo’s ability to raise additional funds
necessary; the future price of ferrovanadium and vanadium pentoxide; the
estimation of mineral reserves and mineral resources; conclusions of
economic evaluation; the realization of mineral reserve estimates; the
timing and amount of estimated future production, development and
exploration; costs of future activities; capital and operating
expenditures; success of exploration activities; mining or processing
issues; currency exchange rates; government regulation of mining
operations; and environmental risks. Generally, forward-looking
statements can be identified by the use of forward-looking terminology
such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not
anticipate”, or “believes”, or variations of such words
and phrases or statements that certain actions, events or results
“may”, “could”, “would”, “might”
or “will be taken”, “occur” or “be
achieved”. Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level
of activity, performance or achievements of the Largo to be materially
different from those expressed or implied by such forward-looking
statements, including those risks described in the annual information
form of the Company available under the Company’s profile on SEDAR at
www.sedar.com. Although management of the Largo has attempted to identify
important factors that could cause actual results to differ materially
from those contained in forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements. The Largo does
not undertake to update any forward-looking statements, except in
accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:
Largo Resources Ltd.
Mark Brennan
President & CEO
(416) 861-5886
mbrennan@largoresources.com
www.largoresources.com

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