MacMillan Gold Exploration Update
12:22 EDT Tuesday, May 15, 2007
TORONTO, ONTARIO--(CCNMatthews - May 15, 2007) - George A. Brown, President & CEO of MacMillan Gold Corp. (TSX VENTURE:MMG) is pleased to provide this Mexico exploration update. The Company is currently working on diamond drill hole number 7 of the 13 holes planned at the La Mus Gold and Silver Project in Sinaloa, Mexico. The following table provides a summary of the holes to date:
Hole # Depth in Metres # Samples Date Shipped
--------------------------------------------------------------
1 160.1 142 March 26
2 181.0 144 April 17
3 84.0 73 April 25
4 157.2 126 May 2
5 120.0 99 May 11
6 175.65 TBA TBA
Assay results from Hole #1 have been received and compiled. Several drill intercepts have reportable values as noted in the table below:
From To Estimated Total g Ag
metre metre Width True Width g Au/t g Ag/t Equivalent/t(i)
---------------------------------------------------------------------------
8.65 19.85 11.20 10.08 0.350 88.2 105.7
including 13.70 18.90 5.20 4.68 0.446 118.1 140.4
38.70 39.00 0.30 0.27 0.730 17.8 54.3
45.80 47.10 1.30 1.17 1.432 15.1 86.7
50.55 51.90 1.35 1.22 0.896 18.9 63.7
89.30 89.90 0.60 0.54 0.609 101.8 132.3
(i)Note - Total g Ag Equivalent/t is the sum of the silver g/t plus the
gold converted to silver equivalent using an economic ratio of 50 to 1
based upon the approximate market values of gold to silver (i.e. Au
US$600 and Ag US$12 equals 50 to 1). Metallurgical recoveries and net
smelter returns are assumed to be 100%. These Equivalents should not be
interpreted as actual grades since the conversion ratio varies with the
volatile prices of gold and silver and the economic recovery of gold and
silver can vary significantly in actual extraction and processing.
The Company is encouraged by these early results, which indicate grades that are potentially economic (over 100 g Ag Equivalent/t) at shallow depth, which indicates potential for open pit extraction (starting at 8.65 metres from surface).
Drilling is being completed by Redrilsa Mexico S.A. de C.V. based in Zacatecas. Samples are split and logged by Company personnel at a secure location near the property. All samples are shipped to Inspectorate de Mexico S.A. de C.V. in Mexico for preparation and then forwarded to Inspectorate Precious Metals Inc. in Sparks, Nevada for assay. Blank and standard quality control/quality assurance samples are inserted into the sample stream. No appreciable assay discrepancies have been noted.
The Company intends to mobilize the drill to the El Zafiro gold property in the state of Sinaloa as soon as the current La Mus drill program is completed. Exploration programs are currently underway at the La Cucharas Gold Property and at the Realito Silver Property with the purpose of advancing both to the drill ready stage so that the Company can immediately initiate a drill program at one of these properties at the completion of the El Zafiro drill program. MacMillan Gold is adequately funded for the entire current 2007 exploration budget of $2,000,000.
Mr. William Hamilton, P.Geo. and Manager of Exploration is a Qualified Persons under the meaning of Canadian National Instrument 43-101 and is responsible for all technical information contained in this news release.
MacMillan Gold Corp. is a Canadian resource company listed on the TSX Venture Exchanges: Symbol "MMG"
FOR FURTHER INFORMATION PLEASE CONTACT:
MacMillan Gold Corp.
George A. Brown
President & CEO
(416) 867-1101
(416) 867-1222 (FAX)
Email: macmillangold@ca.inter.net
Website: www.macmillangold.com
