Wits Basin Precious Minerals (fka WITM)

[YankeeAce]

Wits Basin PR

Wits Basin Updates Gold Assay Results; Conference Call with Important Developments Scheduled for April 18th, 2006 at 4:15pm ET

MONDAY, APRIL 17, 2006 7:17 AM

- BusinessWire

MINNEAPOLIS, Apr 17, 2006 (BUSINESS WIRE) -- Wits Basin Precious Minerals Inc. (WITM) today releases their 6th consecutive set of assay results. Grades of ore for gold run as high as 1.709 ounces per ton and more than 3 ounces per ton for silver. Vance White, CEO, commented, "This process of releasing assay results every few weeks demonstrates both the presence of gold and the quality of the ore. We are very pleased to report these newest assay results from our Bates-Hunter project. As stated on the last assay press release, this affirmation of continued positive results confirms our belief that the archival historical information is accurate." White continued, "Based on this archival data, the historical assays of the geologist, Williamson, showed an average grade of ore of 1.14 ounces over 64 samples. With this type of information, we believe this current vein may host well over 1 million ounces of gold."
Results as reported by Brian Alers (PGeol) include, "Muck samples of vein material found during the excavation of a refuge chamber on the -163 foot level of the Bates-Hunter Gold Mine in Central City Colorado, contain up to 1.709 ounces of gold per ton and 3.36 ounces of silver per ton. A muck sample of a vuggy sulfide vein, BH 5083, contains 0.945 ounces of gold per ton and 2.63 ounces of silver per ton.

Number Type Location Au (Gold) (1) Ag (Silver) (1)
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BH-5079 Grab 163 W 5 foot Underground 0.002 0.03
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BH-5080 Muck 163 W 5 foot Underground 0.003 0.03
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BH-5081 Muck 163 W 5 foot Underground 0.403 0.82
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BH-5082 Muck 163 W 5 foot Underground 1.709 3.36
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BH-5083 Muck 163 W 5 foot Underground 0.945 2.63
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BH-5084 3.5 ft 163 W, 11 ft Underground 0.135 0.41
channel splr
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(1) Ounce per ton

Conference Call April 18th at 4:15 pm ET:

Interested parties may hear the conference call by telephone. Instructions for hearing the conference call:

To hear the conference call as it takes place: Call 800-434-1335 in the United States or Canada; or
Call 404-920-6442 in the Atlanta Area or Internationally. Use Pin Code: 474248

Exclusive: For Expedited Entry into the Conference, please register at this link for your Direct Access 800 number: http://www.AccuConference.com/WITM

To hear a recording of the call (available for 30 days immediately following the conference call): Call 800-428-6220 in the United States or Canada; Pin Code: Press the star key then 474248.