STEWART, British Columbia, Oct. 26, 2017 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd (TSX-V:MTB) (Frankfurt:M9U) (“Mountain Boy”) reports that the 2017 drill program is ongoing on the Red Cliff property located in the “Golden Triangle” area of British Columbia. Exploration during the 2017 field season indicates that the Red Cliff property hosts a large mineralized system that has been traced for several kilometres. Exploration to date has consisted of drilling, mapping, sampling and assaying additional core from the 2007-2012 programs. To date 5 holes were completed on the Red Cliff zone and 35 on the Montrose zone, approximately 1.2 km north from the first 5 holes. Results for the Red Cliff drilling and first 5 holes on the Montrose zone were released on September 27, 2017 (see SEDAR for details). Three holes out of the 35 on the Montrose zone were terminated after rod and bit loss in the holes due to faulting.
Highlights of the latest assays received include:
- Intersection of 14.93 g/t gold over 8.38 m in DDH-17-M0N-18.
- Intersection of 9.5 g/t gold over 10.98 m in DDH-17-M0N-27.
The drill has been moved from the north side of Lydden Creek and drilling of 8 to 10 holes will be completed on the Waterpump zone. In addition, a surveyor is creating a database with GPS locations for all holes as well as the elevations. This data in conjunction with all the drill hole assays will be used to create a new model that shows gold grade shells. The Company will also use the existing 2007-2012 and 2017 data to prepare a preliminary resource calculation that has never been done for the Montrose zone.
Drill results are summarized below for holes on the Montrose zone as follows:
| DDH No. | From(m) | To(m) | Width(m) | Gold g/t |
| DDH-MON-14 | 81.71 | 84.76 | 3.96 | 4.95 |
| DDH-MON-15 | 14.63 | 17.28 | 2.74 | 3.8 |
| and | 21.65 | 23.78 | 2.13 | 3.31 |
| and | 29.27 | 31.40 | 2.13 | 6.12 |
| DDH-MON-16 | 5.79 | 14.94 | 9.14 | 6.63 |
| DDH-MON-17 | 17.38 | 26.52 | 9.15 | 6.21 |
| and | 28.81 | 29.57 | 2.59 | 7.01 |
| DDH-MON-18 | 35.98 | 43.90 | 7.93 | 4.95 |
| and | 49.70 | 58.08 | 8.38 | 14.93 |
| DDH-MON-26 | 258.54 | 261.59 | 3.05 | 4.93 |
| DDH-MON-27 | 290.15 | 298.48 | 10.98 | 9.50 |
Assay results for another 20 holes completed to date will be released once the Company receives them and tabulates the results. Results have not been received for holes prior to DDH-2017-MON-14 as well as holes drilled after DDH-2017-MON-18.
Ed Kruchkowski, president of the Company, states: “Results continue to indicate a large and extensive mineralized zone that has a length of at least 600 m, a depth of 600 m and widths up to 40 m. The Company is excited to be conducting the first ever resource calculation for this property located 2 km from power and a paved highway.”
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration programs on behalf of the Company and is responsible for the contents of this release. E. Kruchkowski is not independent of Mountain Boy as he is the president of the Company.
Mountain Boy Minerals Ltd. is a Canadian based mineral exploration company with diverse property and resource holdings within the Stewart region located in the very prolific area of British Columbia’s Golden Triangle. It owns 20% of the Silver Coin project, a gold-silver-base metals project that has a 43-101 compliant resource calculated. The Company is also exploring silver-base metals on its American Creek and Bear Valley properties as well as copper-gold on their Stewart area claims. For a complete listing of the Company assets and developments, visit the Company website at www.mountainboyminerals.ca. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.
ON BEHALF OF THE BOARD OF MOUNTAIN BOY MINERALS LTD
“Ed Kruchkowski”
Ed Kruchkowski, President
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward–looking statements related to the anticipated closing of the royalty purchase. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including risks related to receipt of required regulatory approval and general transaction closing risk. Actual results may differ materially from those currently anticipated in such statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities laws.