Etruscan's Finkolo Gold Project in Mali hits 6 meters of 33 grams



    HALIFAX, Nov. 6 /CNW/ - Etruscan Resources Inc. (EET.TSX) reported new
results received from eleven drill holes on the Finkolo Gold Project in
southern Mali, highlighted by 51 meters of 5.7 g/t gold which included
6 meters of 32.7 g/t gold. The depth potential of the main Tabakoroni Zone is
now well defined with six high grade zones plunging to the south and wide open
at depth. Highlights include:

    - 51 meters of 5.7 g/t gold (including 6 meters of 32.7 g/t gold)
    - 21 meters of 10.9 g/t gold (including 1 meter of 205.3 g/t gold)
    - 7 meters of 17.6 g/t gold (including 1 meter of 96.4 g/t gold)
    - 54 meters of 2.6 g/t gold (including 1 meter of 32.8 g/t gold)
    - 1 meter of 26.9 g/t gold

    Resolute Mining Limited ("Resolute") is the Project Manager of the
Finkolo Joint Venture and a complete listing of all significant new drill
results reported by Resolute is provided in Table 1. Assays are still pending
for 12 holes. Drilling has focused on the Tabakoroni Main Shear Zone over a
strike length of 1.7 kilometers to a vertical depth of 130 meters, and a
resource estimation is anticipated by year end.
    Resolute has further reported that a longitudinal section incorporating
all drilling to date confirms the geological interpretation of the deposit
with a series of steeply south plunging mineralized shoots. The latest round
of drilling has substantiated that these shoots contain both significant grade
and widths well below the oxide zone, and are open at depth.
    High grades and widths were also reported from extensions of the
Tabakoroni Main Shear Zone to the north in hole TAC-226 (7 meters of 17.6 g/t
including 1 meter of 96.4 g/t), and as previously reported on August 30, 2007
to the south in hole TAC-207 (35 meters of 3.3g/t).
    Don Burton, Chief Operating Officer stated: "To date the drilling at
Finkolo has been shallow and limited to vertical depths of 100 to 130 meters.
The Resolute longitudinal section demonstrates clearly the continuity of
plunging high grade zones that are wide open at depth. We are obviously very
keen to see drilling extended to vertical depths of 200, 250 and 300 meters.
The implications for the ultimate resource potential at Finkolo could be
enormous. The on-going backlog of samples from the laboratory has pushed the
near-surface resource estimation out a month but we will soon have a much
better image of what the first 100 meters of the main zone contains."
    The Finkolo Permit is contiguous with the Syama Permit of Resolute which
hosts the 6.4 million ounce Syama Gold Mine. Resolute has announced that it
expects construction of the Syama Gold Mine to be completed in the second half
of 2008 at a cost of US$118 million. Current mineable reserves at Syama are
estimated to be 1.6 million ounces at an average grade of 4.1 g/t.
    Resolute has recently notified Etruscan that it has expended the
necessary funds to earn a 60% interest in the Finkolo Joint Venture. Resolute
had already earned a 50% interest by expending US$2,000,000 and had elected to
earn an additional 10% by expending a further US$1,000,000. These additional
earn-in expenditures are currently being audited in accordance with the joint
venture agreement. Under the terms of the joint venture agreement Resolute
must fund all costs of the joint venture until production of a feasibility
study and Etruscan will reimburse Resolute from 50% of its share of future
project cash flow.

    All gold analyses were performed by Analabs Laboratories at Morila, Mali
using standard screen metallics assay procedures. All assay numbers are
reported as un-cut and all intercepts are reported as drill width and are not
to be interpreted as true widths. K. Kirk Woodman P.Geo., Etruscan's Chief
Project Geologist, is the Qualified Person overseeing Etruscan's exploration
programs 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 properties include the
Youga Gold Project in Burkina Faso (Press release dated October 3, 2007), the
Agbaou Gold Project in Côte d'Ivoire where its feasibility drilling program
has been completed (Press release dated October 11, 2007), the Diba Gold
Project in Mali where a major drill program was recently completed (Press
release dated July 26, 2007), the Finkolo Gold Project in Mali where an
6,700 meter reverse circulation and diamond drilling program was recently
completed (Press release dated August 30, 2007) and the Banfora Gold Belt in
Burkina Faso with eight major gold targets identified and where a single
sample auger drilling program began in March 2007 (Press release dated
November 27, 2006). Etruscan recently announced a significant acquisition of
strategic properties in Ghana (Press release dated August 7, 2007). Etruscan
also has a 53.7% interest in Etruscan Diamonds Limited which has a dominant
land position in the Ventersdorp Diamond District located in South Africa.
(Press release dated October 9, 2007). 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 - Recent Drill Results November 6, 2007 Tabakoroni Zone, Finkolo Joint Venture ------------------------------------------------------------------------- Hole ID Drill Intercept Au Grade -------------------------------- Type From (m) To (m) Width (m) (g/t) ------------------------------------------------------------------------- TACD-200(3) RC/DDH 127 148 21 10.9(2) ------------------------------------------------------------------------- incl. RC/DDH 142 143 1 205.3 ------------------------------------------------------------------------- TACD-204 RC/DDH 13 15 2 9.8 ------------------------------------------------------------------------- and RC/DDH 125 126 1 26.9 ------------------------------------------------------------------------- TAC-209 RC 23 50 27 2.5 ------------------------------------------------------------------------- incl. RC 29 31 2 8.2 ------------------------------------------------------------------------- TAC-214 RC 50 104 54 2.6 ------------------------------------------------------------------------- incl. RC 82 83 1 32.8 ------------------------------------------------------------------------- TAC-215 RC 39 90 51 5.7 ------------------------------------------------------------------------- incl. RC 66 72 6 32.7 ------------------------------------------------------------------------- TAC-219 RC 89 94 5 6.1 ------------------------------------------------------------------------- TAC-222(1) RC 38 47 9 2.2 ------------------------------------------------------------------------- TAC-223 RC 57 67 10 1.9 ------------------------------------------------------------------------- incl. RC 63 64 1 8.3 ------------------------------------------------------------------------- TAC-225(1) RC 63 85 22 1.3 ------------------------------------------------------------------------- incl.(1) RC 73 74 1 3.8 ------------------------------------------------------------------------- and(1) RC 120 130 10 2.4 ------------------------------------------------------------------------- incl.(1) RC 120 122 2 7.9 ------------------------------------------------------------------------- TAC-226 RC 85 92 7 17.6 ------------------------------------------------------------------------- incl. RC 85 86 1 96.4 ------------------------------------------------------------------------- TAC-227(1) RC 135 143 8 3.3 ------------------------------------------------------------------------- incl. RC 140 142 2 7.0 ------------------------------------------------------------------------- (1) Wet samples (2) Including 3 consecutive meters waste (3) Further results pending All lengths are down hole lengths; additional information is required to determine true widths. ------------------------------------------------------------------------- NOTE: Results are pending for holes TAC-234 to 241 and diamond drill holes TACD-208. 218. 229. and 233 -------------------------------------------------------------------------

For further information:

For further information: from Etruscan: Richard Gordon, Investor
Relations, (877) 465-3674, Fax: (902) 832-6702, rgordon@etruscan.com; Tony
Hayes, (866) 638-3338, Fax (905) 468-8407, thayes@etruscan.com

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