Finkolo Gold Project continues to deliver Bonanza Grades for Etruscan in Mali South



    HALIFAX, March 7 /CNW/ - Etruscan Resources Inc. (EET.TSX) reported on
further drill results received from the Finkolo Gold Project in Mali, West
Africa which continue to confirm grade and continuity along the the        
1.7 kilometer long Tabakoroni Zone. The reverse circulation drill holes are
all located within the main Tabakoroni Zone, and several holes have
intersected "bonanza" grades, up to 241 g/t gold. Highlights include:

    
    - 5 meters of 65.4 g/t gold (including 1 meter of 241.0 g/t gold)
    - 3 meters of 61.0 g/t gold (including 1 meter of 178.8 g/t gold)
    - 6 meters of 14.3 g/t gold (including 1 meter of 61.9 g/t gold)
    - 9 meters of 11.2 g/t gold (including 2 meters of 46.6 g/t gold)
    - 4 meters of 14.0 g/t gold (including 1 meter of 39.7 g/t gold)
    - 5 meters of  7.5 g/t gold (including 1 meter of 31.4 g/t gold)
    - 6 meters of  8.6 g/t gold (including 2 meters of 21.9 g/t gold)

    The Finkolo Permit is contiguous with the Syama Permit of Resolute Mining
Limited ("Resolute") which hosts the 6.4 million ounce Syama gold mine.
Resolute is the Project Manager of the Finkolo Joint Venture and has now
completed 5,827 meters of reverse circulation drilling on behalf of the joint
venture in this most recent campaign which began in November 2006. These
latest results continue to confirm continuity of mineralization in the main
Tabakoroni Zone which has a strike length of 1.7 kilometers. The results will
be incorporated into a new resource model in support of expansion of the
resource potential at Finkolo. The zone has been tested along strike to the
north and south using an air core drill rig and assays are pending.
    Additional drilling will be required to test the potential of the deposit
at depth using diamond drills. Certain reverse circulation holes that ended in
mineralization must be deepened with diamond drill core. For example, hole
TAC-137 which intersected the highest grade intercept to date with 2 meters of
982.3 grams per tonne gold, also had a deeper intersection of 42 meters at    
4.3 grams per tonne gold that ended in mineralization at a downhole depth of
102 meters. A combination RC/diamond drill rig is being mobilized to Finkolo
and is anticipated to be at site in 4-6 weeks time.
    Resolute has recently notified Etruscan that it has expended the necessary
funds to earn an additional 10% interest in the project, which would bring
their total interest in the project to 60%. 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 and Etruscan will reimburse
Resolute from 50% of its share of future project cash flow.

    Significant drill intercepts from the latest round of drilling are
    presented in Table 1 below:


               TABLE 1 - Recent Drill Results Tabakoroni Zone

    -------------------------------------------------------------------------
                                           Intercept(m)  Intercept     Grade
    -------------------------------------------------------------------------
                                                             Width
    Hole                                  From        To       (m)     (g/t)
    -------------------------------------------------------------------------
    TAC-139                                 49        52         3       7.8
    -------------------------------------------------------------------------
    including                               51        52         1      15.5
    -------------------------------------------------------------------------
    TAC-144                                 30        35         5      65.4
    -------------------------------------------------------------------------
    including                               32        33         1     241.0
    -------------------------------------------------------------------------
    TAC-150                                 89        94         5       4.0
    -------------------------------------------------------------------------
    including                               90        91         1       8.0
    -------------------------------------------------------------------------
    TAC-151                                 68        73         5       7.5
    -------------------------------------------------------------------------
    including                               69        70         1      31.4
    -------------------------------------------------------------------------
    TAC-152                                 78        86         8       3.8
    -------------------------------------------------------------------------
    including                               84        86         2       8.7
    -------------------------------------------------------------------------
    TAC-153                                 67        73         6       8.6
    -------------------------------------------------------------------------
    including                               68        70         2      21.9
    -------------------------------------------------------------------------
    TAC-161                                  0        22        22       1.7
    -------------------------------------------------------------------------
    including                                0         1         1       4.4
    -------------------------------------------------------------------------
    TAC-162                                 30        32         2      23.9
    -------------------------------------------------------------------------
    TAC-163                                  9        10         1      31.2
    -------------------------------------------------------------------------
    TAC-164                                 81        88         7       4.6
    -------------------------------------------------------------------------
    including                               81        83         2      10.3
    -------------------------------------------------------------------------
    TAC-165                                 63        72         9      11.2
    -------------------------------------------------------------------------
    including                               63        65         2      46.6
    -------------------------------------------------------------------------
    TAC-170                                 81        89         8       5.6
    -------------------------------------------------------------------------
    including                               84        85         1      18.6
    -------------------------------------------------------------------------
    TAC-171                                 79        94        15       3.2
    -------------------------------------------------------------------------
    including                               82        83         1       8.5
    -------------------------------------------------------------------------
    TAC-172                                 82        86         4      14.0
    -------------------------------------------------------------------------
    including                               82        83         1      39.7
    -------------------------------------------------------------------------
    TAC-173                                117       126         9       3.0
    -------------------------------------------------------------------------
    including                              120       121         1       4.7
    -------------------------------------------------------------------------
    TAC-174                                  9        22        13       5.5
    -------------------------------------------------------------------------
    including                               15        19         4       9.6
    -------------------------------------------------------------------------
    and                                     44        47         3       5.5
    -------------------------------------------------------------------------
    including                               45        46         1      12.5
    -------------------------------------------------------------------------
    and                                     81        98        17       3.6
    -------------------------------------------------------------------------
    including                               93        94         1      39.0
    -------------------------------------------------------------------------
    TAC-175                                 27        30         3      61.0
    -------------------------------------------------------------------------
    including                               27        28         1     178.8
    -------------------------------------------------------------------------
    TAC-181                                 83        89         6       4.4
    -------------------------------------------------------------------------
    including                               85        86         1      11.5
    -------------------------------------------------------------------------

    All assays numbers are reported as un-cut and all intercepts are reported
as drill width and are not to be interpreted as true widths

    Previously reported highlights (Etruscan press releases May 30, 2006,
March 15, 2006, January 23, 2006 and January 17, 2007) from Finkolo include:

    - 10 meters of 201.1 g /t gold (including 2 meters of 982.3 g/t gold)
    - 42 meters of 4.3 g /t gold (hole ended in mineralization)
    - 8 meters of 27.3 g/t gold (including 2 meters of 93.6 g/t gold)
    - 4 meters of 10.4 g/t gold (including 2 meters of 19.7 g/t gold from
       the Porphyry Zone)
    - 23 meters at 7.9 g/t gold (including 2 meters of 39.8 g/t gold)
    - 15 meters at 7.6 g/t gold (including 2 meters of 45.0 g/t gold)
    - 16 meters at 4.2 g/t gold
    - 14 meters at 6.2 g/t gold (including 3 meters of 21.9 g/t gold)
    - 12 meters at 7.8 g/t gold (including 2 meters of 26.7 g/t gold)
    - 14 meters of 67.9 g/t gold (including 2 meters of 465.2 g/t gold)
    - 7 meters of 15.0 g/t gold (including 2 meters of 43.3 g/t gold)
    - 5 meters of 16.8 g/t gold (including 1 meter of 73.8 g/t gold)
    

    All gold analyses were performed by Analabs Laboratories at Morila, Mali
using standard screen metallics assay procedures. K. Kirk Woodman P.Geo.,
Etruscan's Chief Project Geologist, is the Qualified Person overseeing
Etruscan's exploration programs in West Africa.

    Etruscan Resources Inc. is a diversified Canadian junior mining company
focused on acquiring dominant land positions in district scale gold and
diamond belts within Africa. Etruscan has an aggressive exploration strategy
and now holds strategic land positions in a number of gold belts covering over
10,000 km2 in five countries in West Africa. The Company also holds a dominant
land position in the Ventersdorp alluvial diamond district in South Africa.
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




For further information:

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

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