Mountain Boy Minerals announces a significant increase in gold resources to 947,988 ounces inferred and 423,002 ounces measured and indicated



    Trading Symbol: (TSX -MTB)
    (OTC Other MBYMF)
    (Frankfurt: M9U.F)

    Economic assessment and baseline studies to begin
    Drilling to continue

    VANCOUVER, March 14 /CNW/ - Mountain Boy Minerals Ltd. Pinnacle Mines
Ltd. and Tenajon Resources Corp. are pleased to announce the results of a
recent update to the resource estimate on the Silver Coin Project, adjoining
the former gold producer Premier Silbak, near Stewart, BC. The new mineral
resource has been significantly increased and improved since the last resource
estimate published in March 2006, which only referred to inferred resources.
MineFill was able to upgrade roughly 40 percent of the resources from Inferred
to Measured and Indicated. The new resource estimate includes 947,988 ounces
of gold in the inferred category and 423,002 ounces of gold in the measured
and indicated category.
    Andrew Bowering, a director of Mountain Boy and President of Pinnacle,
stated that "We are pleased with the work that was completed in 2006 which
improved and increased the resources and we believe that there is potential to
increase the resources even more with additional drilling to the north and
east in the next exploration programs. The 2007 exploration program will be
established upon receipt of the 2006 drill report and Minefill 43-101 report."
    This updated resource includes an additional 182 surface diamond drill
holes completed in 2005 and 2006 under the supervision of Pinnacle geologists
and 417 historical drill holes of which 288 were drilled from underground. The
resource is based on drilling along 700 meters of strike length within a
mineralized zone that has been identified over a distance of at least
2,500 meters that remains open to the south, east and north. Trenching to the
north along the mineralized structure has returned values up to 22 g/t gold.
    The current resource estimate is located primarily within the Kansas
claim and the immediate surrounding area including the Big Missouri claim (51%
Pinnacle - 49% Mountain Boy), as drilling was concentrated in these areas. In
1991 the Facecut zone, located on the Big Missouri, produced 102,539 tonnes at
an average grade of 8.9 g/t Au and 55.50 g/t Ag. Work during 2005 and 2006 has
extended this high grade mineralization (Facecut Zone) at least 200 meters
north of the stoped area. DDH-2005-89 intersected 11.59 meters of 9.89 g/t
gold approximately 100 meters north of the mined area. Future drilling will
concentrate on this area to the north.
    The new mineral resource estimate is presented in Table 1 below.

    
                                   Table 1
              Updated Mineral Resource Estimate for Silver Coin
                  (Above a Cutoff Grade of 0.75 g/t Au-eq.)
    -------------------------------------------------------------------------
                               Au       Ag       Zn        Au     Au-Eq (oz)
    Class         Tonnes       g/t      g/t       %       (oz)  (Au, Ag only)
    -------------------------------------------------------------------------
    Measured     1,073,891    3.481    14.191   0.432    120,181     129,513
    -------------------------------------------------------------------------
    Indicated    8,633,606    1.091    10.567   0.288    302,822     358,689
    -------------------------------------------------------------------------
    M+I          9,707,497    1.355    10.968   0.304    423,002     488,202
    -------------------------------------------------------------------------
    Inferred    15,947,629    1.849     5.377   0.273    947,988   1,000,499
    -------------------------------------------------------------------------
    (*)  Au-eq values calculated from $525/oz for Au, $10/oz for Ag.
    (*)  Metallurgical recoveries and net smelter returns are assumed
         to be 100%.
    


    The inferred total has been almost doubled plus we have added an
additional 423,002 to the measured and indicated categories.
    In addition to the above results, MineFill report the following resources
at a range of cutoff values (Table 2).

    
                                   Table 2
              Updated Mineral Resource Estimate for Silver Coin
    -------------------------------------------------------------------------
    Cutoff
    Grade                  Au        Ag       Zn         Au       Au-Eq (oz)
    Au-Eq     Tonnes       g/t       g/t       %        (oz)    (Au, Ag only)
    -------------------------------------------------------------------------
    0.25    76,599,380    0.717     3.781    0.155    1,765,689    1,943,044
    -------------------------------------------------------------------------
     0.5    41,636,771    1.161      5.54    0.217    1,554,100    1,695,353
    -------------------------------------------------------------------------
    0.75    25,655,126    1.662     7.492    0.285    1,370,803    1,488,505
    -------------------------------------------------------------------------
       1    16,760,494    2.259     9.629    0.363    1,217,231    1,316,059
    -------------------------------------------------------------------------
    1.25    11,426,111    2.982    12.059    0.451    1,095,408    1,179,784
    -------------------------------------------------------------------------
     1.5     8,245,680    3.809    14.919    0.535    1,009,735    1,085,067
    -------------------------------------------------------------------------
    


    The new resource was classified in accordance with CIMM (2000) standards.
    The updated resource includes a high grade core of 8.25 million tonnes
grading over 5.0 g/t Au-equivalent (3.8 g/t Au, 14.9 g/t Ag, 0.04% Cu and
0.54% Zn) containing just over 1 million ounces of gold.
    Resources on the Kansas claim, at a 0.75 g/t Au-equivalent cutoff include
7.225 million tonnes measured and indicated grading 1.532 g/t Au, 9.998 g/t
Ag, 0.013% Cu and 0.329% Zn, and 10.256 million tones inferred grading 2.146
g/t Au, 5.572 g/t Ag, 0.009% Cu and 0.26% Zn. Contained metal on the Kansas
claims include 355,924 ounces of measured and indicated gold and 2.322 million
ounces of silver, and 707,605 ounces of inferred gold and 1.837 million ounces
of silver.
    A comprehensive program of data verification was undertaken by MineFill
Services prior to the building of a block model in SURPAC. The mineral
resource estimate was then generated by ordinary kriging using uncapped gold,
silver and zinc values.
    MineFill Services is currently preparing a 43-101 compliant Technical
Report for filing on SEDAR. MineFill has also been engaged to prepare a
Preliminary Economic Assessment to evaluate the economics of an open pit at
Silver Coin. The results of this study will be released as soon as they are
available, and a report will be filed on SEDAR.
    The Qualified Person for this release is Dr David Stone, P.Eng., P.E. of
MineFill Services, Inc., Vancouver, B.C.

    ON BEHALF OF THE BOARD

    "Ed Kruchkowski"

    Ed Kruchkowski, Director

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or the accuracy of the content of this
    news release.

    %SEDAR: 00013756E




For further information:

For further information: visit the website at
http://www.mountainboyminerals.ca

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