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Thursday, 11/02/2006 1:38:25 PM

Thursday, November 02, 2006 1:38:25 PM

Post# of 1370
Wits Basin PR

Wits Basin Reports on Drilling Progress in Colorado
Thursday November 2, 10:14 am ET

MINNEAPOLIS--(BUSINESS WIRE)--Wits Basin Precious Minerals Inc., (OTCBB:WITM - News) is pleased to report the following information provided by Dr. Clyde Smith, President of Wits Basin, "The initial diamond drill hole of Wits Basin's surface drill program on the Bates-Hunter Gold Project is currently at a depth of 1,355 feet. The hole is planned for a depth of approximately 2,000 feet. Intermittent veins, stockworks, and alteration have been intersected between 1,072 and 1,161 feet; samples from this interval will be sent for assay. Results will be reported when received. Wits Basin has contracted for a minimum of 8,000 feet of surface diamond drilling."

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