Champion Bear expands scope at Plomp Farm Gold Project in Dryden

2005-06-01

NASDAQ - Nasdaq Stock Market · Gold · Antimony · Silver · United States

(TSX Venture: CBA)

CALGARY, June 1 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear" or the "Company") announced today that it has completed drilling nine additional test holes totalling approximately 2,790 metres and re-logging and re-sampling 35 previously drilled holes totalling approximately 13,756 metres. The Company continues to be encouraged by the results of its ongoing exploration program. The recently defined mineral zonation and alteration patterns are consistent with the Company's model of a westward plunge to the zonation and anomalous gold mineralization. The drilling and re-logging program, along with the detailed property wide magnetic and IP surveys currently being completed and the mapping program planned for this summer will complete the property assessment program undertaken by Champion Bear over the past two years. The analytical results from the nine new drill holes (along the 1,200 metre strike length tested) confirm the extensive base metal and barite geochemical alteration envelope and anomalous gold mineralization. The better anomalous intersections ranged from 1.04 to 2.46 g Au/t over core lengths from 1 to 3 metres. These are contained within a broader halo of anomalous gold in the range of 150 to 560 ppb (0.1 to 0.6 g Au/t) over core lengths ranging from 2 to 19 metres. This mineralization is consistent with the halos of anomalous gold present around narrow 0.4 to 3 metre wide lenses grading in the range of 1 to 92 g Au/t reported previously. The significant assay results from the nine new holes and the results of additional sampling from the 35 old holes is presented in the following tables. Previous sampling did not test for all of the geochemical indicators. Drill holes No. 110 and 111 tested the eastern limit of the anomalous gold mineralization and alteration halo. Hole No. 112 tested for the up dip limit of mineralization. Hole No. 113 planned to test the down dip extension of the zone did not traverse the entire zone due to equipment limitations. Holes No. 115 and 116 tested the area between two adjacent lenses. Holes No. 116, 117 and 118 tested the western limit of mineralization and alteration, the last two holes tracing the zones onto the adjacent property optioned from Teck Cominco Limited. The results of the property assessment to date confirm that the main zone of gold mineralization and alteration are associated with major sub-vertical shear structures. The anomalous gold mineralization and its associated (multi-element) geochemical alteration, characterized by its extensive silver, barite and copper halo, appear to plunge to the southwest. Silver values, and the silver/gold ratios appear to exhibit a zonal distribution with the higher gold values and increasing towards the outer flanks of the barite halo. Potassium enrichment also appears to increase to the west and down dip. Drilling, which has been at an average spacing of 50 to 100 metres, is still much too widely spaced to define the extent of the higher grade zones (of up to 92.0 g Au/t over 0.4 metres of core length) previously encountered. The attached figure (to view figure, please visit http://files.newswire.ca/363/plompfarmproperty.pdf) which shows the north facing Plomp Farm Property Longitudinal Section summarizes the previous significant intersections and shows the westward plunge of the mineralization. Furthermore, the absence of down-hole directional surveying for most of the older holes makes tracing these zones difficult without first resurveying the holes. Mineralization remains open to depth and to the west. Champion Bear is planning to commence a two pronged exploration program this summer. The first phase will include geological and structural surface mapping and sampling of the entire property, and detailed testing of the newly identified mineralized showings. The second phase will consist of an extensive 8,000 plus metre diamond drilling program to test the gold mineralization down plunge and to the southwest at vertical depths of 400 to 900 metres. The field mapping is scheduled to commence in late June and the diamond drilling is expected to commence in the third quarter so as to benefit from the results of the current and planned surveys.

<< TABLE 1 OLD HOLES RESAMPLED Core Footage Length Au Ag Cu Zn Pb Mo Ba Hole No. (m) (m) ppb (g/t) g/t ppm ppm ppm ppm ppm PF10 (old) 67 - 67.5 0.5 1324 (1.32) 14.8 180 385 43 8 NC (new) 67 - 67.5 0.5 less than 2 23.7 172 262 68 6 320 PF11 (old) 106 - 106.5 0.5 1867 (1.87) 16.7 344 834 19 16 NC (new) 106 - 106.5 0.5 1415 (1.42) 16.1 301 643 12 7 1 700 PF13 (old) 112 - 112.5 0.5 1634 (1.63) 22.3 3662 1122 9 52 NC (new) 112 - 112.5 0.5 1410 (1.41) 25.0 3710 820 6 47 27 (old) 115 - 117.5 2.5 1680 (1.68) 21.0 143 762 144 10 NC (new) 115 - 117.5 2.5 1876 (1.88) 33.9 148 926 101 9 140 PF21 (old) 110.6 - 111.1 0.5 1522 (1.52) 21.0 1598 329 10 13 NC (new) 110.6 - 111.1 0.5 1905 (1.91) 19.4 1870 606 9 19 120 (old) 112.1 - 112.6 0.5 1230 (1.23) 12.2 1665 71 9 18 NC (new) 112.1 - 112.6 0.5 1560 (1.56) 14.5 2170 122 8 21 102 (old) 113.1 - 113.6 0.5 1405 (1.41) 25.4 1204 1166 16 60 NC (new) 113.1 - 113.6 0.5 1215 (1.22) 22.6 1090 1620 15 54 101 (old) 119.7 - 120.6 0.9 2124 (2.12) 10.8 218 934 151 13 NC (new) 119.7 - 120.6 0.9 2221 (2.22) 36.7 179 138 29 12 200 (old) 121.6 - 122.1 0.5 1455 (1.46) 28.2 168 395 71 3 NC less than (new) 121.6 - 122.1 0.5 1470 (1.47) 28.3 108 583 53 1 79 PF22 (old) 145.2 - 146.6 1.4 1333 (1.33) 21.9 1643 188 6.5 101 NC (new) 145.2 - 146.6 1.4 1458 (1.46) 21.4 1875 168 6 68 46 (old)150.95 - 151.8 0.85 1067 (1.07) 8.2 1048 175 6 7 NC (new)150.95 - 151.8 0.85 1485 (1.49) 7.5 1310 123 7 7 109 greater than (old) 159.2 - 159.7 0.5 8002 (8.00) 50 856 5200 1008 9 NC (new) 159.2 - 159.7 0.5 1255 (1.26) 11.7 158 324 83 4 74 PF26 (old) 334.2 - 337.9 3.7 3108 (3.11) 27.9 200 1340 172 20 NC (new) 334.2 - 337.9 3.7 3138 (3.14) 39.3 211 1804 155 15 92 PF70 (old) 342 - 343 1 2205 (2.21) 30.1 286 39 22 11 NC (new) 342 - 343 1 2090 (2.09) 36.0 119 25 28 10 117 (old) 344 - 345 1 3949 (3.95) 26.9 172 311 18 5 NC (new) 344 - 345 1 7920 (7.92) 84.9 322 583 23 3 98 PF28 (old) 181.8 - 183.3 1.5 2239 (2.24) 6.8 2340 926 15 8 NC (new) 181.8 - 183.3 1.5 2218 (2.22) 6.2 1083 1286 9 4 16 PF25 (old) 138.3 - 139.3 1 2533 (2.53) 20.3 261 635 80 7 NC (new) 138.3 - 139.3 1 2754 (2.75) 18.3 220 786 65 4 59 (old) 141.3 - 142.3 1 1436 (1.44) 20.4 1757 961 42 65 NC (new) 141.3 - 142.3 1 1518 (1.52) 16.3 1770 244 17 71 110 (old) 142.8 - 143.3 0.5 1187 (1.19) 19.7 711 170 109 60 NC (new) 142.8 - 143.3 0.5 1460 (1.46) 19.8 807 213 94 39 146 PF72 (old) 407 - 409.5 2.5 4592 (4.59) 15.5 203 1160 165 NC NC (new) 407 - 409.5 2.5 5538 (5.54) 20.3 250 1257 207 21 215 PF32 (old) 266.5 - 267.5 1 1099 (1.10) 6.7 1184 84 16 29 NC (new) 266.5 - 267.5 1 1373 (1.37) 7.8 1278 63 17 21 49 PF33 (old) 283 - 283.5 0.5 880 (0.88) 5.5 77 64 7 NC NC less than (new) 283 - 283.5 0.5 863 (0.86) 8.1 116 62 8 1 64 (old) 285 - 288 3 1948 (1.95) 7.3 566 457 28 NC NC (new) 285 - 288 3 2216 (2.22) 7.9 663 320 26 17 72 PF35 (old) 302 - 304.5 2.5 2328 (2.33) 9.3 174 377 75 4 NC (new) 302 - 304.5 2.5 2270 (2.27) 9.5 206 522 70 0 92 Note: NC denotes not tested.

TABLE 2 NEW SAMPLING Core Footage Length Au Ag Cu Zn Pb Mo Ba Hole No. (m) (m) ppb (g/t) g/t ppm ppm ppm ppm ppm less than PF66 15 - 16.2 1.2 1702 (1.70) 0.7 14 29 14 2 520 less than PF23 84 - 85 1 1260 (1.26) 14.1 41 34 12 1 114 PF35 92 - 92.5 0.5 1875 (1.88) 6.5 178 232 16 2 89 Note: less than or greater than denotes an assay value which exceeded the detection limit of the method used

TABLE 3 NEW HOLES Core Footage Length Au Ag Cu Zn Pb Mo Ba Hole No. (m) (m) ppb (g/t) g/t ppm ppm ppm ppm ppm PF05-110 Zone 190 - 197 7 305.6 (0.31) 8.3 170 295 10 10 1287 PF05-111 Zone 202 - 221 19 562.6 (0.56) 7.5 188 159 14 9 92 Best Au value 211 - 214 3.0 2463.3 (2.46) 23.2 123 432 61 7 112

PF05-112 Zone 223 - 241 18 172.5 (0.17) 5.1 252 223 18 10 124 PF05-113 Zone 529 - 535 6 148.3 (0.15) 1.1 165 53 1 6 65 Other 21 - 21.5 0.5 1810 (1.81) 8.5 44 84 23 8 180 PF05-114 Zone 386 - 402 16 310.1 (0.31) 8.0 542 187 18 7 767 less Best Au than value 389 - 390 1 1035 (1.04) 5.6 144 74 11 2 528 PF05-115 Zone 399 - 403 4 347.3 (0.35) 3.4 857 76 8 2 15 less than Zone 416 - 430 14 182.6 (0.18) 2.7 29 226 8 1 113 Zone 449 - 461 12 189.4 (0.19) 3.1 125 284 26 11 70 PF05-116 Zone 33 - 36 3 336.3 (0.34) 5.4 342 614 12 1 13 Zone 45 - 61 16 358.3 (0.36) 5.0 324 127 22 5 33 Best Au value 49 - 50 1 1240 (1.24) 11.6 677 105 14 5 9 PF05-117 Zone 94 - 98 4 184 (0.18) 2.9 279 390 9 1 13 Zone 107 - 110 3 223 (0.22) 8.9 277 624 87 2 25 PF05-118 Zone 124 - 126 2 485.5 (0.49) 5.0 1092 3515 43 10 41 Zone 220 - 222 2 520.5 (0.52) 23.9 62 738 41 6 26 Note: less than or greater than denotes assay values which exceeded the detection limit of the method used. All assays exceeding the detection limit were treated with a value of zero for compositing purposes

The exploration field work was carried out by Watts, Griffis and McOuat Limited, under the direction of QP Joe Hinzer, P. Geo. who is also the qualified person responsible for the preparation of this news release. Drill core samples from new holes were obtained by cutting core in half by sawing. Samples from old holes were quarter split also by cutting. One half of the drill core has been retained and is stored on site in racks. Samples splits were sealed in plastic sample bags and shipped by bus directly to Activation Laboratories Ltd. in Ancaster, Ontario, an ISO accredited laboratory. Most of the analyses were run using ICP-MS techniques on aqua regia digested samples, all samples in excess of 1,000 ppb Au were retested using fire assay techniques with a gravimetric finish.

Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The Company's primary targets are platinum group and precious metals and to a lesser extent polymetallic base metal and pegmatite-hosted tantalum deposits. Champion Bear's aim is to create shareholder value through selective property acquisition and joint venture followed by focused exploration emphasizing drilling. The Company has assembled a large land position in the Dryden and Sudbury areas, totalling over 16,000 hectares.

Forward-looking statements - statements included in this news release that are not historical facts may be considered "forward-looking statements". All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.