Molybdenum

[Lone Clone]

Land position expanded around Creston Molybdenum deposit, Mexico
Tue Jul 24, 2:56 PM

http://ca.news.finance.yahoo.com/s/24072007/30/link-finance-news-land-position-expanded-around-crest...

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES./

VANCOUVER, July 24 /CNW Telbec/ - Georgia Ventures Inc. ("Georgia" or the "Company") (TSX-V: GVI) (FRANKFURT: G4Y) is pleased to announce that its wholly owned Mexican subsidiary, Exploraciones Global S.A de C.V. ("Global"), has received confirmation of title from the government of Mexico for the Metzli 4 claim.

The Metzli 4 claim was acquired by staking and covers approximately 15,500 hectares. Georgia's land position at Creston now totals approximately 18,000 hectares (45,000 acres). The Metzli 4 claim covers previously identified molybdenum anomalies external to the main Creston Molybdenum deposit.

The Creston Molybdenum deposit is the most advanced open pit molybdenum deposit in Mexico. It was extensively explored by Amax in the 1970's and early 80's leading the completion of an internal feasibility study. A recent 43-101 compliant resource estimate by P&E Mining Consultants shows the Creston Molybdenum deposit contains the following mineral resources at a 0.035% Mo Cut-off grade:

 
     Category                Tonnes       Mo%       Cu%    Mo lbs     Cu lbs 
     --------            ----------     -----     -----    ------     ------ 
                                                         millions   millions 
                                                         --------   -------- 
     Indicated           92,873,000     0.083     0.060     169.9      122.8 
     Inferred            84,221,000     0.076     0.050     141.1       92.8 
 

1. Mineral resources which are not mineral reserves do not have
demonstrated economic viability. The estimates of mineral resources
may be materially affected by environmental, permitting, legal, title,
taxation, sociopolitical, marketing or other relevant issues.
2. The quantity and grade of reported inferred resources in this
estimation are conceptual in nature and there has been insufficient
exploration to define these inferred resources as an indicated or
measured mineral resource and it is uncertain if further exploration
will result in upgrading them to an indicated or measured mineral
resource category.


Georgia plans to finalize a drill contract by months' end and to begin drilling by late September or earlier pending drill availability. The program will include infill drilling on the main Creston Molybdenum deposit, to upgrade inferred resources to the indicated category, as well as step-out drilling to evaluate its southern extensions. Concurrently with the drill program the Company will undertake a systematic evaluation of the numerous untested molybdenum anomalies previously identified within the Metzli 4 claim.

Dr. Luca Riccio, PhD., P. Geo, a Qualified Person as defined by National Instrument 43-101, is responsible for the technical information contained in this News Release.

On behalf of the Board

(signed) "Jonathan W. George"

President

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy and accuracy of this release.

Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government, and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues, and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance, or achievements.

This News Release is not intended for distribution in the United States.

Contacts

Mr. Jonathan George
[phone]
[phone] (FAX)
www.georgiaventures.com

Renmark Financial Communications Inc.: Christine Stewart: [e-mail]

Tina Cameron: [e-mail]

Media - Adam Ross: [e-mail]
[phone]
Fax: [phone]
www.renmarkfinancial.com