Fort a la Corne Joint Venture - Orion Centre Geological Estimate: 150-167 Million Tonnes of Kimberlite



    Stock Symbol: SGF: TSX

    SASKATOON, SK, Nov. 2 /CNW/ - George H. Read, P. Geo., Senior Vice
President Exploration and Development, is pleased to announce a geological
estimate of between 150 and 167 million tonnes of diamondiferous kimberlite
within Orion Centre (145 and 219), which is within the Fort a la Corne Joint
Venture (FALC-JV), where Shore Gold Inc. (Shore) is the Operator with a
60 percent interest, and Newmont Mining Corporation of Canada Limited
(Newmont) has a 40 percent interest. The Orion Centre tonnage estimate is
conceptual in nature and is not a mineral resource as there has not been
sufficient exploration carried out to date to define a mineral resource on
this property. Presently, it is uncertain if further exploration will result
in the property being delineated as a mineral resource. This tonnage estimate
was prepared by Shore geologists and has been reviewed by Newmont and SRK
Consulting geologists. The detailed logging from the 2006 pattern drilling
program, combined with relogging of all available archived core from Orion
Centre, has shown that Orion Centre contains two major volcanic complexes:
Kimberlites 145 and 219. Both kimberlites are predominantly composed of Early
Joli Fou (EJF) aged kimberlite. The tonnes estimated for the two Orion Centre
complexes, in addition to the drill statistics and kimberlite intersections,
are listed in the following table.

    
    Kimberlite Complex   Estimated Tonnes    Number of    Total Kimberlite
                            (millions)      Drillholes   Intersected (metres)
    -------------------------------------------------------------------------
    Orion Centre 145          93 - 103           40             3,085
    -------------------------------------------------------------------------
    Orion Centre 219          57 - 64            30             2,530
    -------------------------------------------------------------------------
    Orion Centre Total       150 - 167           70             5,615
    -------------------------------------------------------------------------
    

    This geological estimate considers all kimberlite to a depth of
350 metres below surface and assumes an average kimberlite density of 2.30
grams per cubic centimeter. Feeder vents in Orion Centre are open at depths
below 350 metres. The Orion Centre kimberlites have elongated northwest
trending trough-like shapes, where detailed core logging and microdiamonds
suggest sufficient interest to justify future large diameter drilling to
extract macrodiamonds for further analyses.
    Senior Vice President Exploration and Development, George Read, states:
"This 167 million tonne estimate for Orion Centre completes the geological
modeling of the Orion Kimberlite Cluster, which is now estimated to contain
1.3 to 1.5 billion tonnes of kimberlite and is the largest known accumulation
of contiguous diamondiferous kimberlite in the world. Shore and Newmont aim to
locate potentially economic kimberlite within the Orion Cluster using a
combination of core drilling, large diameter drilling and underground bulk
sampling. To this end, Orion South has been targeted first for underground
bulk sampling and shaft sinking is underway."
    Senior Vice President Exploration and Development, George Read,
Professional Geoscientist in the Provinces of Saskatchewan and British
Columbia, is the Qualified Person responsible for the verification and quality
assurance of analytical results. Shore is a Canadian based corporation engaged
in the acquisition, exploration and development of mineral properties. Shares
of the Company trade on the TSX Exchange under the trading symbol "SGF".

    Caution Regarding Forward-Looking Statements

    From time to time, Shore makes written or oral forward-looking statements
within the meaning of certain securities laws, including the "safe harbour"
provisions of the Ontario Securities Act and the United States Private
Securities Litigation Reform Act of 1995. Shore may make such statements in
this press release, in other filings with Canadian regulators or the United
States Securities and Exchange Commission, in reports to shareholders or in
other communications. These forward-looking statements include, among others,
statements with respect to Shore's objectives for the ensuing year, our medium
and long-term goals, and strategies to achieve those objectives and goals, as
well as statements with respect to our beliefs, plans, objectives,
expectations, anticipations, estimates and intentions. The words "may,"
"could," "should," "would," "suspect," "outlook," "believe," "plan,"
"anticipate," "estimate," "expect," "intend," and words and expressions of
similar import are intended to identify forward-looking statements. In
particular, statements regarding Shore's future operations, future exploration
and development activities or other development plans contain forward-looking
statements.
    All forward-looking statements and information are based on Shore's
current beliefs as well as assumptions made by and information currently
available to Shore concerning anticipated financial performance, business
prospects, strategies, regulatory developments, development plans,
exploration, development and mining activities and commitments. Although
management considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect.
    By their very nature, forward-looking statements involve inherent risks
and uncertainties, both general and specific, and risks exist that
predictions, forecasts, projections and other forward-looking statements will
not be achieved. We caution readers not to place undue reliance on these
statements as a number of important factors could cause the actual results to
differ materially from the beliefs, plans, objectives, expectations,
anticipations, estimates and intentions expressed in such forward-looking
statements. These factors include, but are not limited to, developments in
world diamond markets, changes in diamond valuations, risks relating to
fluctuations in the Canadian dollar and other currencies relative to the US
dollar, changes in exploration, development or mining plans due to exploration
results and changing budget priorities of Shore or its joint venture partners;
the effects of competition in the markets in which Shore operates; the impact
of changes in the laws and regulations regulating mining exploration and
development; judicial or regulatory judgments and legal proceedings;
operational and infrastructure risks and the additional risks described in
Shore's most recently filed Annual Information Form, annual and interim MD&A
and short form prospectus, and Shore's anticipation of and success in managing
the foregoing risks.
    Shore cautions that the foregoing list of factors that may affect future
results is not exhaustive. When relying on our forward-looking statements to
make decisions with respect to Shore, investors and others should carefully
consider the foregoing factors and other uncertainties and potential events.
Shore does not undertake to update any forward-looking statement, whether
written or oral, that may be made from time to time by Shore or on our behalf.




For further information:

For further information: Adam Buchanan, Manager, Investor and Community
Relations at (306) 667-3503


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