NEWS RELEASE CROSS LAKE MINERALS LTD.
NEWS RELEASE CROSS LAKE MINERALS LTD.
NEWS RELEASE CROSS LAKE MINERALS LTD. 1255 West Pender Street, Vancouver, B.C. V6E 2V1 Tel.: (604) 687-2038 / Fax.: (604) 687-3141 February 18, 2004 12(g) No. 82-2636 Symbol CRN-T North Zone Shows Increased Potential, QR Property, British Columbia Vancouver, British Columbia – Cross Lake Minerals Ltd. (“the Company”) is pleased to provide this summary of the results of exploration and a recently completed geological compilation on the North Zone, QR Mine, located approximately 60 kilometers southeast of Quesnel British Columbia. The North Zone is the largest zone of gold mineralization currently known on the Property and represents the best potential to significantly increase the current QR Mine resource. Recent exploration has included 3D-Inversion Induced Polarization and magnetic ground geophysical surveys, one exploratory drill hole and detailed geological studies to confirm the possible extension of this zone. The North Zone, a faulted extension of the Main Zone, has been tested by wide spaced drilling over a strike length of approximately 600 meters. It is located at vertical depth of 200 to 400 meters with the west end of the zone directly below the QR Mill facilities. Significant drill results reported from previous programs are: Hole # From (m) To (m) Width (m) Gold (g/t) 55 481.00 484.60 3.60 7.22 164 including and 297.00 299.00 309.00 315.00 302.00 313.00 18.00 3.00 4.00 2.46 5.32 3.60 182 289.00 304.00 15.00 10.45 269 and 282.00 415.00 284.00 418.00 2.00 5.03 16.00 3.00 270 and 283.00 288.00 287.00 290.00 4.00 2.00 4.58 13.19 277 and 396.00 405.00 399.00 407.00 3.00 2.00 9.65 3.99 282 259.00 261.00 2.00 3.85 303 375.00 380.00 5.00 7.53 474 246.00 262.00 16.00 7.23 496 402.95 412.95 9.19 4.91 CL-03-2000 and 240.50 425.00 249.50 431.00 9.00 6.00 3.87 2.97 Note: Intervals > 4.0g/t Au are bold. /Cont’d.... Cross Lake Minerals Ltd. News Release – February 18, 2004 Page 2 of 2 The highlighted drill intersections indicate that with detailed drilling the North Zone has the potential to significantly add to the currently defined resource on the QR Mine Property. The North Zone is hosted by the same brecciated propylitic basalt that hosts the majority of the gold mineralization on the QR Property. The dimensions of this host unit increases to the east where during the fall program another diorite intrusive, an integral geological component of the hydrothermal system, was identified at the easternmost explored area. This increases the exploration potential to extend the North Zone beyond the limits defined by the current diamond drilling. Exploration work is being conducted under the supervision of the Company’s Qualified Person and Vice President, Exploration, Jim Miller-Tait, P.Geo. Acme Analytical Laboratories Ltd. of Vancouver, B.C. completed all assays by conventional fire assay with the exception of the two holes 474 and 496 which were assayed in the QR Mine assay lab while the mine was in production. The Company is planning to recommence diamond drilling on the QR Mine Property in the next few weeks. This drill program will infill and expand the areas of gold mineralization contained within the North Zone, continue to expand the zones of gold mineralization associated with the Midwest Zone and test a new 3D-IP anomaly identified during the fall 2003 program. This news release may contain forward looking statements based on assumptions and judgments of management regarding events or results that may prove to be inaccurate as a result of exploration or other risk factors beyond its control. Actual results may differ materially from the expected results. For further information, please contact: Cross Lake Minerals Ltd. Gordon A. Keevil – President (604) 687-2038 or visit our website at www.crosslakeminerals.com -or- Tangent Management Corp. Investor Relations Tel: (604) 642-0115