Troy Resources (TRY)

[Rocketred]

Troy drills 108 m of 2.59 g/t Au at Two Mile Hill

2008-04-09 06:23 ET - News Release
Shares issued 60,314,783
TRY Close 2008-04-08 C$ 2.07


Mr. Paul Benson reports

TROY RESOURCES NL: SIGNIFICANT DRILLING RESULTS AT TWO MILE HILL PROSPECT, SANDSTONE WESTERN AUSTRALIA

Troy Resources NL has intersected significant gold mineralization within its first deep diamond drill hole (hole TDD034) at the Two Mile Hill prospect located 2.7 kilometres northeast of the Sandstone mill.

Assay results received from hole TDD034 for downhole intervals from surface to 285 metres (about 63 per cent of samples submitted) include:


33 metres of 1.52 grams per tonne gold from 43 metres downhole, including five metres of 7.65 grams per tonne gold from 63 metres;
11 metres of 1.83 grams per tonne gold from 127 metres downhole, including four metres of 4.11 grams per tonne gold from 130 metres;
108 metres of 2.59 grams per tonne gold from 177 metres downhole. Within this intersection a number of higher-grade intervals were reported including two metres of 7.00 grams per tonne gold from 195 metres;
12 metres of 9.05 grams per tonne gold from 209 metres;
Seven metres of 9.47 grams per tonne gold from 257 metres and three metres of 13.51 grams per tonne gold from 268 metres.

The broad lower-grade intersections were calculated at a lower cut-off of 0.2 gram per tonne gold and the higher-grade intervals were calculated using a one-gram-per-tonne gold lower cut-off. Both calculations allowed two-metre internal dilution and did not apply a cut to high values. Full results are contained in the table attached.

Note: Assay results for the interval from 285 metres to 450 metres are pending.

The hole targeted an open stockwork of flat-lying quartz veins hosted in a tonalite intrusive and was drilled to 450 metres depth. The hole remained within the tonalite over its entire length.

Numerous quartz veins were intersected throughout the total length of the hole and 30 occurrences of visible gold were noted primarily within sets of narrow, quartz veins, dipping at a shallow angle to the southeast. The known lateral extent of the tonalite is a strike length of 200 metres and a width of 50 metres. However, the extent of quartz vein hosted gold mineralization within the intrusive is not known at this stage.

A second hole, TRCD727, located 80 metres south and 100 metres east of the first hole, was drilled to test the projected intersection of a banded iron formation (BIF) near the intrusive contact on the eastern margin of the tonalite, and the tonalite itself. The hole passed through highly silica, carbonate and pyrite-altered basalt to a downhole depth of 258 metres before intersecting contorted, siliceous, pyrite and magnetite bearing BIF to a depth of 306 metres, where the tonalite stock was intersected. The hole was terminated at 402.6 metres within the tonalite and 11 occurrences of visible gold were noted within quartz veins in the tonalite. This core is currently being cut and sampled.


SANDSTONE PROJECT
TWO MILE HILL DIAMOND CORE DRILLING
DRILL ASSAY RESULTS -- GOLD INTERSECTIONS GREATER THAN 0.5 G/T GOLD

MGA MGA Gold
Hole Easting Northing Azimuth Depth From To Length (g/t)
ID (m) (m) MGA Dip (m) (m) (m) (m) Au

TDD034 723120.3 6892640 270 -77 450.7 15.4 16.0 0.6 0.70
31.0 32.0 1.0 2.09
43.0 76.0 33.0 1.52
including 63.0 68.0 5.0 7.65
127.0 138.0 11.0 1.83
including 130.0 134.0 4.0 4.11
159.0 163.0 4.0 0.60
177.0 285.0 108.0 2.59
including 195.0 197.0 2.0 7.00
including 209.0 221.0 12.0 9.05
including 257.0 264.0 7.0 9.47
including 268.0 271.0 3.0 13.51


All samples were prepared and assayed by SGS Mineral Services laboratory in Perth, Western Australia, using method FAA505, being fire assay on a 50-gram charge with an AAS finish.

The company is unable to estimate true width as this is the first drill hole into this target.

Information of a scientific or technical nature in this report was prepared under the supervision of Peter J. Doyle, vice-president, exploration and business development, of Troy, a qualified person under National Instrument 43-101 -- "Standards of Disclosure for Mineral Projects," a member of the Australasian Institute of Mining and Metallurgy. Mr. Doyle has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration, and to the activity he is undertaking, to qualify as a competent person as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves." Mr. Doyle has reviewed and approved the information contained in this report.

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