Tungsten

[Tackler]

Copper Ridge begins drilling at Kalzas deposit

2005-08-12 12:54 ET - News Release

Mr. Gerald Carlson reports

DRILLING UNDERWAY AT KALZAS HIGH GRADE TUNGSTEN DEPOSIT

Copper Ridge Explorations Inc. has commenced drilling at its Kalzas high-grade tungsten deposit in central Yukon. The company believes that the Kalzas deposit has the potential to support a high-grade mining development targeting near surface, open pittable mineralization at grades of approximately 1 per cent WO3 (tungsten trioxide). The program will consist of seven to eight holes for a total of 700 metres.

Kalzas is a porphyry-style tungsten deposit that contains a stratigraphically controlled, tabular, high-grade zone in the central part of a large, low-grade deposit. To date, the high-grade zone has been tested only by surface trenching. The drilling will test below high-grade trenches where previous sampling by Copper Ridge obtained results of 1.0 per cent to 2.5 per cent WO3 over widths of one to six metres. Geological observations suggest that these high-grade zones have a steep and elongate orientation within a broader zone up to 100 metres wide and at least 400 metres along strike.

Tungsten prices have increased dramatically over the past 12 months as demand has increased while Chinese supplies have diminished. Mid-market WO3 concentrate, as reported in the Northern Miner, has increased from $5,500 (U.S.) per ton to $19,250 (U.S.) per ton ($9.60 (U.S.) per pound) over the past 12 months. A recent article in the Economist reports the price of ammonium paratungstate (APT), a refined tungsten product, at over $22,000 (U.S.) per tonne.

Copper Ridge has the right to earn a 100-per-cent interest in the Kalzas property by spending $300,000, paying $75,000 and issuing 200,000 shares over 4-1/2 years, plus a 200,000 share bonus on a production decision. The vendors retain a 2-per-cent NSR, 1-per-cent of which can be purchased for $500,000.