Southern Star Resources Inc SSR Shares issued 18,089,107 Nov 10 close $0.195 Tue 11 Nov 2003 News Release See (EXL) News Release Mr. Stephen Roman of Exall Resources reports BONANZA GOLD GRADES INTERSECTED AT GOLD EAGLE Exall Resources and Southern Star Resources have released initial assay results of the phase 2 drill program presently continuing at Exall's Gold Eagle mine property located in Red Lake, Ont. These results are from drilling on the newly discovered western extension zone (see news in Stockwatch dated Nov. 5, 2003). Large sections of hole SS No. 7 are presently in for assay. A full description of SS No. 7 will be released when they become available. Initial highlights of SS No. 7 include the following:
In addition, anomalous gold values were encountered on both sides of the 9.23-ounce intersection and further infill results are expected. SS No. 7 was drilled to a depth of 2,132 feet (650 metres) from the same collar as SS No. 2. SS No. 2 was drilled to 1,033 feet (315 metres) and Southern Star is currently deepening hole SS No. 2. These are intersection lengths. Additional drill holes will be required to determine true width and to further understand this discovery. The Gold Eagle property consists of 35 patented claims totalling 726.1 hectares (1,793.5 acres) in the heart of the prolific Red Lake gold camp. The Gold Eagle mine produced approximately 40,000 ounces of gold from 1937 to 1941. Since operations ceased, no significant exploration program has been undertaken on the property. With successful former producing mines on two sides of the property near the northern boundary, the claims are exceptionally well located. There are no royalties on the subject property. During sampling, drill core is split with a saw and one-half is sent to SGS Labs for preparation and analysis, and the remaining half is securely stored for record purposes and/or further work. Dr. James M. Patterson, PhD, PGeo, DIC, is the qualified person within the meaning of National Instrument 43-101. Dr. Patterson and has reviewed the exploration results contained in this news release. Southern Star has an option to earn a 50-per-cent interest in the Gold Eagle mine property by completing $2-million in exploration work, as well as making cash and share option payments to Exall over the next two years. (c) Copyright 2003 Canjex Publishing Ltd. http://www.stockwatch.com
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