SEATTLE -- (BUSINESS WIRE) -- June 16, 2005 -- Donald W. Flinn, Vice-Président à l'exploitation de Klondike Star Mineral Corporation (OTCBB:KDSM), a le plaisir d'annoncer le démarrage du programme d'exploitation estival de ses concessions situées dans la région du Klondike, dont il est le propriétaire majoritaire. Un budget de 3.240.000 dollars a été attribué à la mise en œuvre d'un programme intensif d'exploitation diamantaire comprenant le forage, un mini échantillonnage en vrac, les travaux de creusement et les premiers travaux d'exploration.
( BW)(WA-KLONDIKE-STAR-MINERAL)(KDSM) Klondike Star Commences Diamond Drilling in the Klondike
SEATTLE--(BUSINESS WIRE)--June 16, 2005--Donald W. Flinn, Vice President, Operations for Klondike Star Mineral Corporation (OTCBB:KDSM) is pleased to announce the commencement of the summer exploration program on its majority owned Klondike area properties $3,240,000 USD has been budgeted for an extensive program of diamond drilling, mini-bulk sampling, trenching and early stage exploration
Bill Mann, M. Sc., Project Geologist has commented that...
"The substantial budget will allow us to expand and upgrade the known resource at the Lone Star Zone, and begin to outline the mineralization at the Buckland and Nugget zones. The Bulk Sample Testing Facility will be particularly useful for accurately determining the gold grade of zones where a "nugget effect" is apparent. In addition, we intend to upgrade the status of several other targets on our ground."
Donald W. Flinn, P. Eng., V.P
. Operations comments as follows...
"A new hard camp has been installed on Eldorado Creek and new equipment has been readied for the Bulk Sample Testing Facility. The corporate office in Whitehorse has been completed and is now fully operational. The staffing for 2005 is nearly complete and field operations are fully underway. The company is looking forward to achieving a meaningful level of results this year as part of a long-term evaluation of its mineral rights in the Klondike Mining District." Klondike Star has concluded an agreement with Beron Placers whereby Beron will conduct placer mining operations on the Oro Grande placer claims.
Beron will pay Klondike Star a royalty from 5% to 10% on a graduated scale.
The Oro Grande bench claims are located on the right limit of Eldorado Creek and require surface stripping of an area of approximately 494 acres (200 hectares) of land. This placer mining operation will provide Klondike Star geologists with an opportunity to evaluate key bedrock targets along the Buckland Zone
A quartz vein containing visible gold was discovered during excavation of the new campsite near Eldorado Creek.
This discovery, named the Veronica Vein is 500m from any previously known gold bearing vein, and indicates the untested potential of much of the property despite 109 years of mining and exploration.
About Klondike Star
Klondike Star Mineral Corporation is developing 5 mineralized zones on a 250 square km land position underlying the site of the Klondike Gold Rush, and select high potential targets in other parts of the Yukon
The famous Klondike goldfields have been in constant surface mining production since the discovery of gold in 1896. Thousands of ounces of gold continue to be produced from placer mining operations each year on streams in the Klondike.
The company also owns extensive surface mining rights in the Klondike Mining District.
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products or actions in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.
The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
CONTACT: Klondike Star Mineral Corporation James West, 800-579-7580