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Message: Reports On Labrador Licences

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Reports On Labrador Licences

posted on Apr 09, 09 09:55AM
April 9, 2009
New Island Reports On Labrador Licences
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - April 9, 2009) - New Island Resources Inc. (New Island)(TSX VENTURE:NIS) of St. John's, NL reports that a 4158 line-kilometers, helicopter-borne AeroTEM II time-domain electromagnetic survey, a high-sensitivity cesium vapour magnetometer and a gamma ray spectrometer (AGRS) survey was carried out over all seventeen of its Labrador licences by Aeroquest Ltd. in late summer 2008. Ground follow-up and a review of the available geological, geophysical and geochemical data for the licences have taken place. This included an appraisal to determine the mineral potential of the licences for unconformity-hosted uranium, sedimentary exhalative (SEDEX) lead-zinc, carbonate-hosted base metals, banded iron formation (BIF)-hosted gold, intrusion-hosted magmatic Ni-Cu-PGEs.

This evaluation has resulted in the consolidation of New Island's land position in Labrador with a resultant reduction to seven licences totaling 291 claims. Several drill targets were identified for both sediment-hosted lead-zinc and magmatic nickel-copper-PGE, and it was also recommended that ground geophysics be carried out in areas to better define the drill targets.

This evaluation was undertaken on behalf of New Island by Aurum Exploration Services, Kells Business Park, Kells, Co. Meath, Republic of Ireland; GeoServices Consulting and SJP GeoConsulting of St. John's, NL, Canada.

All government regulatory requirements have been met and the relevant reports submitted. Further activity will be determined by market conditions and the potential for Joint Ventures.

This news release has been reviewed and approved by Mr. Baxter Kean, MSc., P.Geo., a Qualified Person.
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