BUCHANS MINERALS TO INITIATE DRILLING & METALLURGICAL TESTING ON WOODSTOCK MANGANESE PROPERTY

Trading Symbol: TSXV: BMC
Shares Outstanding: 150,898,545

WINDSOR, NS, April 26 /CNW/ - Buchans Minerals Corporation (TSXV: BMC) ("Buchans Minerals" or the "Company") is pleased to announce that it has initiated plans to complete a 5 hole drill program on the Plymouth manganese deposit, one of three manganese deposits owned by the Company near the town of Woodstock, New Brunswick. The core samples will be used for hydrometallurgical testing to confirm the 1987 metallurgical program that successfully leached manganese from the Plymouth deposit and to also optimize the leaching and purification processes.

Buchans Minerals has engaged Thibault & Associates Inc. of Fredericton, New Brunswick to conduct the bench scale hydrometallurgical tests to confirm and optimize the process for leaching manganese from the Plymouth deposit. In addition the tests will explore the optimal process for purifying the leach solution to a state whereby it may provide the basis for producing high purity manganese products such as electrolytic manganese metal (EMM), manganese dioxide (EMD), manganese sulphate and manganese carbonate (used in the production of lithiated manganese oxide batteries). Mr. Dean Thibault, one of the principals in Thibault & Associates Inc., was in charge of the government funded program that successfully leached manganese from the Plymouth deposit in 1987. Not only does Mr. Thibault have direct experience with the Woodstock manganese deposits, but his company has over 30 years experience in designing and optimizing hydrometallurgical circuits for the recovery of metals. Subject to planning permission, the drilling is anticipated to begin towards the later half of May and the subsequent metallurgical program will be conducted over a period of six months.

Warren MacLeod, President and CEO of Buchans Minerals stated. "Historical work on the Woodstock manganese property suggests it has the potential to become one of the largest undeveloped manganese deposits in North America and we believe it could become a major asset of our Company. It is our intent to expedite its development and the program announced today is the first step along this road. Following the completion of the metallurgical program, our target will be the completion of a National Instrument 43-101 resource estimate and a preliminary economic assessment of the project by the middle of 2012."

Manganese is the fourth most traded metal in the world with approximately 30 billion lbs of production every year, the bulk of which is manganese concentrates for the steel industry. Overall manganese demand has been growing at 8% per year with particularly strong growth in the high purity manganese market, as evidenced by the EMM market that has been growing at 26% per year for the past 5 years and now represents annual production of 2.6 billion lbs. With 97% of the world's EMM production emanating from China and export tariffs of 20%, there is a clear need for production outside China. There are currently no manganese mines in North America and to the best of the Company's knowledge, only American Manganese is actively developing a leachable manganese deposit for producing high purity manganese products in North America. The future of the manganese market is further enhanced by the use of manganese in high performance batteries for electric vehicles and plug-in hybrid electric vehicles, as is evidenced by the recent investment by General Motors in Envia Systems, the company that has recently developed high capacity manganese rich cathode material for advanced batteries.

* Manganese market information in the above paragraph has been sourced from an article by Ken Reser dated April 16th, 2010 and titled "U.S. allows China to dominate world supply chain of manganese and magnesium".

Historical Resource:
The Woodstock property is located 5 kilometres northwest of the town of Woodstock in New Brunswick and is host to three zones of sediment-hosted-manganese and iron mineralization, including the historic Plymouth deposit. Together, these deposits potentially represent one of the largest undeveloped manganese resources in North America. The mineralization extends from surface to depths of 500 feet (152 metres), including the historic Plymouth deposit. Previous operators, Strategic Manganese Corporation (a subsidiary of Strategic Metals Corporation), in 1957 estimated a non National Instrument 43-101 ("NI 43-101") compliant, historic, uncategorized resource estimate, for the Plymouth deposit of *51.2 million tons (46.5 million tonnes) averaging 10.9% Mn (manganese) and 13.3% Fe (iron). The estimate is based on data obtained and prepared by previous operators. Buchans Minerals has not located the original assay sheets or details of the estimation methodology completed, nor has the Company undertaken the work necessary to verify or classify the mineral resource estimate. Buchans Minerals is not treating the mineral resource estimate as a NI 43-101 defined resource verified by a qualified person, and the estimate should not be relied upon. Verification and classification of the resource will require considerable further evaluation, the scope of which is currently being assessed by the Company's management.

The property is also host to historic resource estimates for two additional zones of similar mineralization compiled by Strategic Manganese Corporation in 1957, located less than 2 kilometres on strike to the north of the Plymouth deposit. These deposits are referred to as the North Hartford and South Hartford deposits and their respective historic resource estimates rely on a combination of results obtained from diamond drilling and associated gravimetric data obtained and prepared by Strategic Manganese Corporation. Based on these data, Strategic Manganese Corporation estimated the **North Hartford deposit to contain 50 million short tons (45 million tonnes) grading 8% Mn and 12% Fe, and the **South Hartford deposit to contain 50 million short tons grading 8% Mn and 12% Fe. The above quoted figures for the North and South Hartford deposits are reported as exploration targets based on reasonable assumptions made from data by Strategic Manganese Corporation. These figures should not be construed to reflect a calculated resource (Inferred, Indicated, or Measured) under standards of NI 43-101. The potential quantities and grades reported above are conceptual in nature and there has been insufficient work to date to define a NI 43-101 compliant resource. Furthermore, it is uncertain if additional exploration will result in discovery of an economic mineral resource on the property.

* historic resource estimate from an article written by K.O.J. Sidwell, 1957: The Woodstock, N.B., Iron-Manganese Deposits. Transactions of the Canadian Institute of Mining and Metallurgy, Volume LX, 1957, p.231-236. The article reports the resource is compiled from data acquired from a total of 17,388 ft (5,300 metres) of drilling.

** historic resource estimates (North Hartford and South Hartford deposits) from an article written by K.O.J. Sidwell, 1957: The Woodstock, N.B., Iron-Manganese Deposits. Transactions of the Canadian Institute of Mining and Metallurgy, Volume LX, 1957, p.231-236. The article reports the North Hartford resource estimate was compiled from data acquired from a total of 13 drill holes totaling 5,381 feet (1,640 metres) of drilling as well as gravimetric geophysical data. The article reports the South Hartford resource estimate was compiled from data acquired from a total of 9 drill holes (footage undisclosed) as well as gravimetric geophysical data.

Qualified Person:
Paul Moore, M.Sc., P.Geo., (NL), Buchans River's Vice President of Exploration, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy. Much of the information contained herein is however, historical in nature and relies entirely on data provided by other sources which have not and cannot be independently verified at this time. As such, the data discussed herein should not be relied upon, but are presented as an indication of the exploration and development potential of the mineralization described.

About Buchans Minerals:
Buchans Minerals is an Atlantic Canada based resource company that is primarily focused on exploring and developing mineral properties in New Brunswick and the historic Buchans mining camp in central Newfoundland, Canada.

Forward Looking Statements:
Certain information contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond their control, and that future events and results may vary substantially from what the Company currently foresees. The Company's forward looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date and the Company does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

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

 

SOURCE BUCHANS MINERALS CORP.

For further information:

Buchans Minerals Corporation.
Warren MacLeod, President & CEO
Ph: (902) 472-3520
Windsor, Nova Scotia
www.buchansminerals.com

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BUCHANS MINERALS CORP.

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