2/20/2008
Everton Exploration Update - James Bay & Dominican Republic
Everton Resources Inc. (TSX-V: EVR, Frankfurt: ERV) (“Everton”) is pleased to provide an update on its current exploration activities in James Bay, Quebec and in the Dominican Republic.
James Bay, Quebec
A 2,500m diamond drilling program is slated to begin in mid-March at the Charles and Smiley Targets on Opinaca A. This will be Everton's most extensive drill campaign to date in the Opinaca region and it is designed to take advantage of the winter freeze-up to drill high priority targets at the Smiley and Charles Targets. A second drill program is scheduled for the spring along the 10 km-long gold bearing Claude-Manuel corridor that runs north-east from Opinaca B (optioned to earn 65% from Azimut, AZM: TSX-V) onto the Wildcat 5 (100% Everton) concession.
An induced polarization (IP) program was initiated in January on the Charles and Smiley Targets. The Smiley Target covers the southwestern part of the Opinaca A (optioned to earn 65% from Azimut) and the eastern part of the Wildcat 1 (100% Everton), both concessions are adjacent and located 6km due north of Goldcorp's Eleonore gold deposit (initial gold resource of 2.8 million ounces). To date, 85 kilometers of line-cutting has been completed over the two grids and the IP survey, totalling 80 line-kilometers, is to be completed by late February.
Dominican Republic
The drill program is ongoing in the central part of the Cuance concession, testing polymetallic gold-silver-copper-zinc targets. Two extra holes have been added to the original 6-hole program with two drill-holes pending. Samples are being processed at the ALS Chemex Laboratories in Vancouver, B.C. Upon completion of the current drill program on the Cuance concession, Everton will have earned its 50% interest in the Cuance and Los Hojanchos concessions. Everton and its partner Globestar Mining (GMI: TSX) are scheduled to commence an IP program in the northern portion of the Cuance concession, immediately south of the Las Tres Bocas Target, located on the Loma el Mate concession (50% partnership with Linear Gold, LRR: TSX), where 10.58 meters of 2.96 g/t Au, 104.91 g/t Ag, 2.03% Cu and 9.41% Zn was intersected in hole TBM-07.
A four drill-hole program has recently been completed at the Jobo Claro concession (100% Everton) located adjacent to the eastern border of Barrick/Goldcorp's Pueblo Viejo Mine. The goal of the core drilling program at Jobo Claro was to test for Pueblo Viejo-type high sulphidation gold mineralization. Samples are being processed at Acme Analytical Laboratories Ltd, in Vancouver, B.C. Results are pending.
A 30-kilometer induced polarization (IP) survey is currently underway on the Ampliacion Pueblo Viejo concession (optioned to earn 65% from Linear Gold) to follow-up on the encouraging 2007 field program that consisted of comprehensive mapping and rock sampling surveys, and the collection of 2,300 soil samples. In September 2007, a 794m trenching program consisting of 8 trenches was completed on the La Lechoza prospect on the northern portion of the Ampliacion Pueblo Viejo concession. The best intercept was obtained from trench LT-11 where 6.65 g/t gold and 18.8 g/t silver were cut over 22 meters, including 22.1 g/t gold and 48.6 g/t silver over 4 meters.
A second IP program, for a total of 25 line-kilometers, is planned to cover the copper and zinc-in-soil targets on the El Llano and La Yautia concessions, located within the Maimon Formation. The Maimon Formation is host to the Cerro de Maimon polymetallic deposit and is located approximately 20 kms west of Barrick/Goldcorp's Pueblo Viejo gold deposit. Drill-testing of these targets is planned for late March 2008.
This press release was reviewed by and all fieldwork was performed under the supervision of Marc L'Heureux, P. Geo. and VP Exploration of Everton, who acts as Everton's Qualified Person as defined by NI 43-101.
Everton is well funded and actively exploring in the Opinaca region of James Bay, Quebec where Everton has amassed one of the largest land claims adjacent to Goldcorp's (NYSE: GG, TSX: G) Eleonore gold deposit where Goldcorp recently announced an initial gold resource of 2.8 million ounces. Everton is also actively exploring in the Dominican Republic adjacent to where the world's largest gold mining company, Barrick Gold (NYSE/TSX: ABX) is partnering with Goldcorp to develop, at an estimated cost of $2.3 billion, the Pueblo Viejo deposit, that contains 18.1 million ounces of gold, 2.6 billion pounds of zinc, 358 million pounds of copper and 88 million ounces of silver.
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This press release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Everton's plans, objectives, strategies, expectations and intentions. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to Everton, or its management, are intended to identify such forward-looking statements. Many factors could cause Everton's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this press release represent Everton's views as of the date of the release. While Everton anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements. All subsequent written and oral forward-looking statements attributable to Everton or persons acting on its behalf are expressly qualified in their entirety by this notice.
The TSX Venture Exchange neither
approves nor disapproves of the information contained in this News Release.
The Company's Shares are listed on the TSX Venture Exchange and trade under
the symbol "EVR".
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