165,000,000 Tonnes Resource Estimated for the Nithi Property



    Trading Symbol: LWC

    CALGARY, Sept. 24 /CNW/ - Leeward Capital Corp. is pleased to announce
the resource estimates for the Gamma and Delta zones on its Nithi Mountain
Molybdenum Property. This property is located 10 km south of the Village of
Fraser Lake in central British Columbia and the area is readily accessible by
logging roads south from the village. Fraser Lake is along a major
transportation corridor consisting of Highway 16, the main CN rail line and a
gas pipeline. A major regional power line is located 2 km north of the
property. The producing Endako Molybdenum Mine 28,000 TPD is located 18 km
west-northwest of property.
    Mr. James A. Kelly PGeol. Reports:
    Previous exploration by Leeward identified extensive molybdenum
mineralization in what the company has designated the "Alpha" Trend extending
northeast to southwest across the property in a band 3 km wide and 5 km long.
Five mineralized zones, designated "Gamma", "Gamma West", "Delta", "Sigma" and
"Theta" respectively have been delineated within this trend.
    "From January 2005 to April 2008, Leeward Capital Corp. carried out
diamond drilling programs on the property. A total of 79 holes were completed
on the Gamma Zone and 55 holes on Delta Zone. Although neither zone has been
drilled off, there is sufficient information to undertake initial resource
estimates.
    Resource estimates for the Gamma and Delta zones were prepared using
results from all drilling completed to date. Results are summarized in the
following table.

    
                     Table 1- Resource Estimate Summary,
                            Gamma and Delta Zones

    -------------------------------------------------------------------------
                                     Cut-Off,                         Wt. Av.
    Zone            Category           %Mo         MillionTonnes        %Mo
    -------------------------------------------------------------------------
    Gamma           Inferred          0.020             105.81         0.029
    Delta           Inferred          0.020              59.44         0.021
    Total           Inferred           0.02             165.25         0.026

    -------------------------------------------------------------------------
    Delta           Inferred          0.030              20.28         0.032
    -------------------------------------------------------------------------
    Gamma          Indicated          O.020              55.55         0.029
    -------------------------------------------------------------------------
    (Parameters: 5.0 meter min. core length; weighted average
    grade = or (greater than) cut-off)
    

    A two-phase drilling program is recommended to further assess the
economic potential of the four zones explored to date. Step out holes in the
Gamma and Delta zones are recommended to explore projections of known
mineralized zones. In addition, exploration-scale grid drilling at 100 m
centers is recommended to explore and assess mineralization in the Sigma and
Theta zones with the view to delineating and categorizing mineral resources in
these two zones. A minimum of 112 holes (28,000 meters) were recommended for
the Phase 1 program at an estimated cost of $5,000,000.
    Contingent on favorable results of the Phase 1 drilling, a Phase 2
program of delineation and definition drilling is recommended for all four
zones. A minimum 0f 160 holes (40,000 meters) were recommended at an estimated
cost of $7,000,000."
    An environmental baseline study has been undertaken and preliminary
metallurgical study has been completed. The environmental results have
revealed that there no fish bearing streams on Nithi Mountain. The nature of
large low fluorine porphyry moly deposits is that they produce very pure moly
concentrates with by-product rhenium, which currently sells for over
$11,000 per kilogram.
    Rigorous QA/QC procedures have been employed in all phases of the
program. Analyses are conducted by Loring Labs Ltd. of Calgary. An initial
metallurgical study on the Gamma Resource completed by G & T Metallurgical
Services in March indicated excellent molybdenum recoveries and the Delta Zone
is believed to have similar favorable mineralogical characteristics to this
deposit. The high recovery rates justify the lower cut off used in the
resource estimation.
    Management feels that significant progress has been made in developing a
very large open pit moly deposit at Nithi Mountain. The next phase of
exploration will include additional metallurgical testing, ongoing
environmental monitoring and a major drilling program designed to expand
existing zones at Gamma and Delta and exploring both the Sigma and Theta.
Given the property's excellent access and well developed infrastructure, the
future development of the property seems assured. We believe that significant
progress has been made toward developing a large, open pit, porphyry
molybdenum deposit on Nithi Mountain. The exciting results received to date,
have expanded the resource base of the project such that we have crossed the
threshold of economic viability. We anticipate an uptick in moly prices to
over $40 which would only further enhance the economics of the project. While
capital markets have been hard on junior resource stocks, we have used this
time to update our extensive technical database for the zones and the
Caledonia Showing across the valley toward the south.
    Drilling is planned to resume on the project in October. The work will be
focused on definition drilling on the Gamma and Delta zones and exploration
drilling on the Theta and Sigma zones. Applications have been filed with the
regulatory authority to allow this work to proceed in a timely fashion. All
zones identified to date are sub-horizontal and are exposed at the surface.
    For further details, the complete resource report has been filed on
SEDAR.

    James W. Davis MSc, PGeol, FGAC has acted as the QP (qualified person)
for the technical content of this release

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

    All statements, other than statements of historical fact, in this news
release are forward-looking statements that involve various risks and
uncertainties, including, without limitation, statements regarding the
potential extent of mineralization and reserves, exploration results and
future plans and objectives of Leeward Capital Corp. These risks and
uncertainties include, but are not restricted to, the amount of geological
data available, the uncertain reliability of drilling results and geophysical
and geological data and the interpretation thereof and the need for adequate
financing for future exploration and development efforts. There can be no
assurance that such statements will prove to be accurate. Actual results and
future events could differ materially from those anticipated in such
statements. These and all subsequent written and oral forward-looking
statements are based on the estimates and opinions of management on the dates
they are made and are expressly qualified in their entirety by this notice.





For further information:

For further information: Web page: http://www.leewardcapital.com,
e-mail: president@leewardcapital.com

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