Etruscan drills 36 meters of 3.9 grams on Youga Gold Belt at Bitou



    HALIFAX, Aug. 26 /CNW/ - Etruscan Resources Inc. reported on additional
reverse circulation drill results on the Bitou permits in southern Burkina
Faso, highlighted by 36 meters of 3.9 grams per tonne gold in a step-out hole
located 675 meters east of the Ouaré Main Zone. The hole was stopped in the
mineralized zone. The Bitou permits are located on the Youga Gold Belt,
35 kilometers northeast of Etruscan's Youga Gold Mine. The objective of this
drill program was to determine the resource potential of the main Ouaré Zone
with reverse circulation ("RC") drilling, and a campaign total of 7,118 meters
was completed in 93 holes. Furthermore, several new gold targets have been
confirmed in saprolite with single sample auger drilling, and ground
geophysical surveys were also initiated to assist in tracking the mineralized
zones.

    
    Highlights from the latest RC drill results include:

    - 36 meters at 3.9 g/t (including 4 meters at 11.0 g/t)(*)
    - 12 meters at 4.8 g/t (including 2 meters at 11.1 g/t)
    - 10 meters at 4.4 g/t (including 6 meters at 6.2 g/t)
    - 12 meters at 3.9 g/t (including 4 meters at 9.0 g/t)
    - 28 meters at 3.8 g/t (including 6 meters at 7.0 g/t)
    - 54 meters at 2.4 g/t (including 4 meters at 17.6 g/t)
    - 14 meters at 2.3 g/t (including 6 meters at 4.0)

    (*) Hole BITRC-08-93 from 72 - 108 meters ended at 108 meters in
        mineralization

    Previous work on the Ouaré Main Zone, including trenching and reverse
circulation drilling, had identified significant mineralization with resource
potential over a strike length of 575 meters. Additional exploration work by
Etruscan has expanded this potential strike length to over two kilometers. A
complete listing of significant new RC drill results is presented in Table 1.
All lengths are reported as downhole lengths and additional information is
required to determine true widths.
    Results from ground geophysical surveys over the Ouaré Main Zone indicate
that the favourable horizons can be traced using induced polarization and
magnetic methods. The chargeability response in particular shows a very
prominent feature extending across the surveyed area for a distance of two
kilometers and it likely extends even further east to the drilling area of
Hole BITRC-08-93 where 36 meters of 3.9 g/t was intersected. There are
numerous coincident geophysical and geochemical gold anomalies to test. The
drilling and geophysical surveys had to be stopped for the rainy season and
priority will be given to obtaining more complete coverage to the east and
northeast when drilling recommences.

    Don Burton, Vice President Corporate Development and COO stated:

    "In addition to the obvious potential of the Ouaré Main Zone, significant
    potential exists along strike to the east and to the west of the main
    drilled area. There is evidence of significant increases in grade with
    depth in some areas and there are multiple untested gold anomalies
    previously thought to be of low priority that are clearly associated with
    geophysical anomalies. Geophysics has proven to be a powerful exploration
    tool at Ouaré and we will be evaluating the data in much more detail in
    preparation for the next drilling season in October. A resource at Bitou
    has the potential to provide substantial additional mill feed for our
    existing plant at Youga."

    As previously reported, a parallel gold trend with a strike length of
850 meters has been identified 500 meters south and west of Ouaré (Ouaré West
Zone), and two new soil anomalies (Bitou North Zone 1 and Bitou North Zone 2)
have been identified five kilometers to the northeast that have been traced
for 3.0 and 2.8 kilometers respectively. Auger drilling has been completed on
all three soil anomalies outside of the Ouaré Main Zone and continuous low
grade mineralization in saprolite is associated with all three anomalies.
Isolated auger highs from 100 - 500 ppb gold have been recorded in all areas
with a maximum value of 9.6 g/t gold. These areas will be further evaluated
with auger and RC drilling.
    The Youga Gold Mine, which is in production, is situated 35 kilometers
southwest of Ouaré. Current reserves at the Youga Gold Mine are
6,600,000 tonnes at an average grade of 2.7 g/t gold which will support a
seven year mine life. A number of potential satellite deposits have already
been identified on the Youga mining permit within a three kilometer radius of
the existing plant. Etruscan's mining group has begun evaluating these areas
to convert to reportable resources and reserves. The exploration program at
Bitou is designed to find additional reserves and new deposits that will
further extend the mine life at Youga.
    All sample preparations and standard 50-gram gold fire assays were
performed by ALS Laboratories, Ouagadougou, Burkina Faso. Etruscan
consistently employs a rigorous quality control and assurance program
comprising regular insertion of certified reference standards, blanks and
duplicates. K. Kirk Woodman, P.Geo., and Senior Project Geologist is the
Qualified Person overseeing Etruscan's exploration gold projects in West
Africa and has reviewed this press release.

    About Etruscan Resources Inc.

    Etruscan Resources Inc. is a gold focused Canadian junior mining company
with dominant land positions in district scale gold belts covering more than
13,000 square kilometers in West Africa. Its principal mine development
projects include the Youga Gold Project in Burkina Faso (latest press release
dated August 20, 2008), the Agbaou Gold Project in Côte d'Ivoire (latest press
release dated February 21, 2008), and the Finkolo Gold Project in Mali (latest
press release dated July 2, 2008). Advanced and early stage exploration
projects are on-going in Burkina Faso, Mali, Côte d'Ivoire, Ghana (see press
release dated June 10, 2008) and Namibia (see press release dated June 19,
2008). See press release dated May 6, 2008 for a comprehensive update of
explorations projects. Etruscan also has a 52.1% interest in Etruscan Diamonds
Limited which has a dominant land position in the Ventersdorp Diamond District
located in South Africa. (latest press release dated June 13, 2008). The
common shares of Etruscan are traded on The TSX Exchange under the symbol
"EET". More extensive information on Etruscan can be found on its home page at
http://www.etruscan.com

    This press release may contain certain forward-looking statements which
involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Forward-looking
statements may include statements regarding exploration results and budgets,
mineral reserve and resource estimates, work programs, capital expenditures,
mine operating costs, production targets and timetables, future commercial
production, strategic plans, market price of precious metals or other
statements that are not statements of fact. Although the Company believes the
expectations reflected in such forward-looking statements are reasonable, it
can give no assurance that such expectations will prove to have been correct.
Various factors that may affect future results include, but are not limited
to: fluctuations in market prices of precious metals; foreign currency
exchange fluctuations; risks relating to mining exploration and development
including reserve estimation and costs and timing of commercial production;
requirements for additional financing; political and regulatory risks, and
other risks and uncertainties described in the Company's annual information
form filed with the Canadian Securities regulators on SEDAR (www.sedar.com).
Accordingly, readers should not place undue reliance on forward-looking
statements.

    NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
    RELEASE

                           ETRUSCAN RE

SOURCES INC. Table 1 - August 26, 2008 Significant New RC Drill Results from Ouaré Zone, Youga Gold Belt ------------------------------------------------------------------------- Section Hole ID From To Length Au Grade Final (m) (m) (m) (g/t) Depth ------------------------------------------------------------------------- 8075 E BITRC-08-059 26 28 2 18.8 80 ------------------------------------------------------------------------- 8125 E BITRC-08-057 66 84 18 1.8 144 ------------------------------------------------------------------------- incl. 66 68 2 9.4 ------------------------------------------------------------------------- and 92 94 2 3.7 ------------------------------------------------------------------------- 8125 E BITRC-08-058 86 128 42 1.3 160 ------------------------------------------------------------------------- incl. 92 94 2 3.2 ------------------------------------------------------------------------- and 146 148 2 10.5 ------------------------------------------------------------------------- 8170 E BITRC-08-055 54 80 26 1.5 162 ------------------------------------------------------------------------- incl. 70 72 2 4.5 ------------------------------------------------------------------------- and 160 (*)162 2 1.9 ------------------------------------------------------------------------- 8200 E BITRC-08-052 68 70 2 14.2 110 ------------------------------------------------------------------------- 8275 E BITRC-08-043 74 112 38 1.6 120 ------------------------------------------------------------------------- incl. 102 104 2 7.4 ------------------------------------------------------------------------- 8400 E BITRC-08-040 0 54 54 2.4 114 ------------------------------------------------------------------------- incl. 14 18 4 17.6 ------------------------------------------------------------------------- 8450 E BITRC-08-038 36 50 14 1.3 104 ------------------------------------------------------------------------- incl. 48 50 2 3.7 ------------------------------------------------------------------------- and 96 (*)104 8 1.6 ------------------------------------------------------------------------- incl. 98 100 2 4.1 ------------------------------------------------------------------------- 8450 E BITRC-08-039 20 22 2 3.6 156 ------------------------------------------------------------------------- 8500 E BITRC-08-062 0 10 10 1.9 128 ------------------------------------------------------------------------- incl. 0 2 2 6.0 ------------------------------------------------------------------------- and 22 24 2 6.6 ------------------------------------------------------------------------- 8800 E BITRC-08-045 50 64 14 2.3 154 ------------------------------------------------------------------------- incl. 56 62 6 4.0 ------------------------------------------------------------------------- and 88 98 10 4.4 ------------------------------------------------------------------------- incl. 90 96 6 6.2 ------------------------------------------------------------------------- 8800 E BITRC-08-046 38 46 8 3.3 100 ------------------------------------------------------------------------- incl. 44 46 2 8.8 ------------------------------------------------------------------------- 8850 E BITRC-08-048 48 54 6 2.3 80 ------------------------------------------------------------------------- 8850 E BITRC-08-049 0 8 8 4.9 80 ------------------------------------------------------------------------- incl. 0 2 2 17.8 ------------------------------------------------------------------------- 8850 E BITRC-08-063 74 86 12 4.8 90 ------------------------------------------------------------------------- incl. 82 84 2 11.1 ------------------------------------------------------------------------- 9100 E BITRC-08-085 22 34 12 3.9 80 ------------------------------------------------------------------------- 9100 E incl. 28 32 4 9.0 80 ------------------------------------------------------------------------- 9100 E BITRC-08-088 28 32 4 9.3 116 ------------------------------------------------------------------------- incl. 30 32 2 14.1 ------------------------------------------------------------------------- 9225 E BITRC-08-071 4 6 2 5.2 82 ------------------------------------------------------------------------- 9425 E BITRC-08-075 10 38 28 3.8 82 ------------------------------------------------------------------------- incl. 24 30 6 7.0 ------------------------------------------------------------------------- and 80 (*)82 2 3.0 ------------------------------------------------------------------------- 9425 E BITRC-08-077 32 34 2 3.9 90 ------------------------------------------------------------------------- and 82 84 2 3.3 ------------------------------------------------------------------------- 9675 E BITRC-08-090 74 (*)76 2 3.6 76 ------------------------------------------------------------------------- 9675 E BITRC-08-091 10 20 10 1.0 84 ------------------------------------------------------------------------- 9675 E BITRC-08-092 1 12 11 2.2 78 ------------------------------------------------------------------------- incl. 2 4 2 3.7 ------------------------------------------------------------------------- and 44 64 20 1.0 ------------------------------------------------------------------------- incl. 56 60 4 2.1 ------------------------------------------------------------------------- 9675E BITRC-08-093 72 (*)108 36 3.9 ------------------------------------------------------------------------- incl. 76 80 4 11.0 ------------------------------------------------------------------------- (*) Holes end in mineralization All intersections are down hole lengths; additional information is required to determine true widths -------------------------------------------------------------------------

For further information:

For further information: from Etruscan contact: Richard Gordon, Investor
Relations,rgordon@etruscan.com, (877) 465-3674, Fax (902) 832-6702

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