Mantis Mineral Corp. encouraged by drilling at Orphan and Foisey



    TORONTO, Aug. 28 /CNW/ - Mantis Mineral Corp. ("Mantis" - CNQ "MINE") is
pleased to announce that 8-holes totaling 1,483-meters have been completed at
its Foisey site on the 100% owned Orphan Mine Project and assay results have
been received.
    The results from this drill program determined the Foisey system to be an
anomalous gold bearing geologic structure along an 850-meter strike length,
with a potential length of up to 1.6-kilometers. The structure was probed by a
limited drill program at an average vertical depth of only 75-meters. The
mineralized system can be defined by two zones; an upper and lower extending
over an average of 80-meters in drill width.
    The Foisey drill program was conducted 1,700-meters northwest of the
Orphan mine site along an anomalous broad linear defined by an earlier induced
polarization survey and geological mapping of bedrock exposed in old trenches.
    This initial drill program was designed to test for gold bearing
disseminated pyrite within the mineralized structure. Significantly, surface
channel sampling (reported in press release dated January 8, 2008) of trenches
in the immediate vicinity of some of the current drill collars yielded results
up to 12.75 grams per tonne (0.369 opt).
    The upper zone is defined by a fault structure (Foisey Structure) of
various alterations, crushed rock, quartz veining and clay averaging 42-meters
in drill width, containing variably anomalous gold values up to 3.20 grams per
tonne. This zone is a strong structure that has been inundated by mutli-phase
quartz veining and exhibits a history of complex overprinting alterations,
which affected the host rock over the entire width of the system.
    The best values are associated with the lower zone, which is
characterized by intense silicification, in some cases manifest as massive
grey quartz flooding. The grey clouding of the quartz is due to finely
disseminated molybdenite, in which a moderate positive correlation exists
between gold and molybdenite values. In the six drill holes in which the zone
was penetrated, it averaged 5.55-meters in drill width and contains an average
gold content of 0.56 grams per tonne. The highest gold values attained within
the zone were 1.31 grams/tonne.
    Between the upper and lower zones is a variably altered and veined
quartz-diorite averaging 32-meters in drill width, containing 1-3%
disseminated pyrite with anomalous values up to 0.298 grams per tonne.
    At the relatively shallow vertical depths (75 meters) that the current
drilling explored the Foisey Structure, core observations indicate, as
evidenced by numerous open cavities and quartz crystals within the main
crush-quartz fault zone, that these depths represent only the upper level
portion of the system. Given the enormity of the system, a more extensive and
significantly deeper drill program will test for higher-grade gold
mineralization and zoning at depth.
    Commented Walter Hanych, senior project manager; "The Foisey Struture has
demonstrated characteristics of a possibly significant gold system. The
limited drill program has identified a highly anomalous gold bearing
structure. Given the systems sheer size, coupled with the intensity of the
quartz veining and alteration we believe that the structure has the potential
to host significantly higher gold values at depth. The next phase of drilling
will test this potential."
    Commented Robin Ross, CEO, "We have only scratched the surface with this
initial 8 hole drill program. We now know its gold bearing and intend to
follow up with a much more extensive program."
    Caracle Creek International Consulting Inc. has been retained to monitor
the assay results and act as QA/QC for the program.
    This news release has been viewed and approved by Walter Hanych, Senior
Geologist and Project Manager.

    About Mantis Mineral Corp.

    Mantis Mineral Corp. is a dynamic Canadian based resource company,
possessing a diversified portfolio of mineral properties across Canada,
including direct participation in three major area plays: Tamarack, Orphan and
Grass River. The company holds substantial land positions hosting gold,
nickel, copper and platinum group metals.

    
    The CNQ has not reviewed and does not accept responsibility for the
    adequacy of this release.
    

    %SEDAR: 00008151E




For further information:

For further information: Mr. Robin Ross, Chairman & CEO, (416) 362-1800,
pr@mantismineralcorp.com

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