New Dimension Resources Ltd. ("New Dimension" or the "Company") (TSX
VENTURE:NDR) is pleased to announce that it has entered into an agreement with
Gryphon Gold Corporation (TSX VENTURE:GGN)(OTCBB:GYPH) to acquire up to 65%
interest in the East Walker Gold Project located in western Nevada. The property
covers an attractive precious metal target within the Walker Lane mineral belt,
approximately 20 kilometres west of the past producing Borealis gold mine. The
property is in an area of Nevada well served by roads and an adjacent power
line.


The East Walker claims overlie a linear zone of intensely altered and silicified
volcanics measuring approximately 750 by 100 metres in size. The priority target
area is projected under younger cover and remains open in three directions. In
the 1980's work by others within the area of alteration defined a significant
rock-chip anomaly greater than 300 ppb gold with numerous samples exceeding 1
g/t gold with a high of 2.6 g/t gold. Earlier work also included two trenches
averaging 3.4 g/t gold over 24 metres and 1.1 g/t gold over 12 metres. In the
same area, seven three metre long chip samples taken by the Company returned
values between 0.03 g/t and 1.50 g/t gold. Confirmation grab sampling conducted
by Gryphon Gold within the trench area returned values between 0.42 g/t and 4.9
g/t gold. In addition, historic drilling north of the target zone reportedly
obtained values of up to 1.49 g/t gold.


Historic exploration data was collected before the introduction of NI 43-101,
and is presented for information purposes only. The Company has no way of
verifying the results and the historical data should not be relied upon.


The East Walker Project is well positioned within a highly mineralized
metallogenic province of Nevada and the Company believes the property could host
important gold mineralization. Historic production from the nearby Borealis Mine
was reportedly 600,000 ounces of gold. Borealis is currently undergoing a
feasibility study by Gryphon Gold who has reported a resource inventory of
1,422,500 ounces of gold in the measured and indicated category and 1,104,500
ounces gold in the inferred category, from 85,900,000 tons grading 0.029 ounces
of gold per ton.


The Company will complete additional field work on East Walker Project to better
define specific target areas and will complete the permitting requirements
necessary to conduct a preliminary drill program.


New Dimension can earn a 51% interest in East Walker by making an initial
$10,000 cash payment, issuing 75,000 shares to Gryphon Gold, and completing
$120,000 in exploration within two years. Upon earning 51%, the Company can
increase its interest to 65% by completing an additional $250,000 of work over a
second two year period.


The Company's exploration programs are under the supervision of Thomas Burkhart,
the Company's Vice President of Exploration, and a Qualified Person under NI
43-101.


About New Dimension Resources

New Dimension Resources Ltd. is engaged in the acquisition, exploration and
development of quality exploration opportunities throughout the Americas.
Currently, the Company's exploration activities are focused on mineral
properties situated in Nevada, Manitoba and Peru, with drilling planned for the
Domain gold property in Manitoba and the Reese River silver property in Nevada.


ON BEHALF OF THE BOARD

NEW DIMENSION RESOURCES LTD.

Fred G. Hewett, P.Eng., President & CEO

This news release may contain forward looking statements which are not
historical facts, such as ore reserve estimates, anticipated production or
results, sales, revenues, costs, or discussions of goals and exploration
results, and involves a number of risks and uncertainties that could cause
actual results to differ materially from those projected. These risks and
uncertainties include, but are not limited to, metal price volatility,
volatility of metals production, project development, ore reserve estimates,
future anticipated reserves and cost engineering estimate risks, geological
factors and exploration results. See the Company's Sedar filings for a more
detailed discussion of factors that may impact expected results.


New Dimension Resources (TSXV:NDR)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more New Dimension Resources Charts.
New Dimension Resources (TSXV:NDR)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more New Dimension Resources Charts.