SNL releases more drilling results on Dansey Project

VANCOUVER, Jan. 20 /CNW/ - SNL Enterprises Ltd. ("SNL" or the "Corporation") is pleased to provide the following assays from 2009 drilling on the "Midway" zone of the Dansey Project Area.

As reported in a press release dated November 26, 2009, the "Midway Showing" was identified by geochemical soil and rock sampling, prospecting and geological mapping. It is located on the southern portion of the geochemical "Central Anomaly" discovered by SNL during preliminary 2008 exploration program, and is located 1.3 km south of the "North Zone" showings (SNL drill-holes 1-12).

As previously noted during the 2008/2009 program, Copper mineralization was encountered in 11 of 12 drill holes drilled in the North Zone (across an approximate 450 meter strike length).

    
                                 New Results
    

SNL drilled the following holes on the Midway in late 2009:

    
    -------------------------------------------------------------------------
    Drill-hole        Location          Azimuth         Dip     Total length
                    (UTM Zone 10)
    -------------------------------------------------------------------------
    09-SND-13      649740   5597676    75 degrees   -45 degrees      85m
    -------------------------------------------------------------------------
    09-SND-14      649740   5597676    75 degrees   -70 degrees     285m
    -------------------------------------------------------------------------
    09-SND-15      649715   5597713    75 degrees   -70 degrees     206m
    -------------------------------------------------------------------------
    

In 09-SND-13, visible copper and zinc mineralization was noted within the first 30 metres drilled from surface. Assays have now been received from this hole.

In 09-SND-14, visible copper mineralization was encountered over 160 metres. This hole, the deepest drilled to date on the Dansey, was abandoned at 285 metres drilled depth (at a dip of 70 degrees) due to drilling difficulties, with visible copper mineralization noted to the end of hole. Assays have now been received from this hole.

Drill hole 09-SND-15, was abandoned at a depth of 206 metres (at a dip of 70 degrees) due to drilling difficulties. Drilling attempted to pass through a prospective fault zone which is similar to that of 09-SND-14. However, drilling difficulties necessitated termination within the fault zone. A deeper hole for testing below the fault zone will be a first-order target for future exploration.

Logging of the drill core is underway on hole 09-SND-15.

Drill-holes 13 and 14 were designed to bisect surface mineralization identified at the Midway showing (selected grab samples reported as at November 26, 2009). Hole 15 was a step-out hole from hole 14.

09-SND-14 is the most heavily mineralized drill-hole drilled to date on the Dansey project area. An intersect from 116 meter to the end of the hole at 285 meters graded between 0.17% to and 0.87% Cu, including an 85 meter interval grading .24% Cu.

    
    Significant mineralization in drill-hole 09-SND-14 is as follows:
    -----------------------------------------------------------------

    -------------------------------------------------------------------------
      Start (m)       End (m)     Interval (m)    Copper (%)      Zinc (%)
    -------------------------------------------------------------------------
        0.0-       285.2(EOH*)     285.2          0.12%          0.04%
    -------------------------------------------------------------------------
        2.7             14.2          11.5          0.03%          0.20%
    -------------------------------------------------------------------------
        2.7              7.2           4.5          0.04%          0.28%
    -------------------------------------------------------------------------
       28.5             49.7          21.1          0.05%          0.11%
    -------------------------------------------------------------------------
       28.5             32.8           4.2          0.13%          0.18%
    -------------------------------------------------------------------------
       42.8             49.7           6.9          0.05%          0.17%
    -------------------------------------------------------------------------
       80.6             97.3          16.7          0.05%          0.10%
    -------------------------------------------------------------------------
       89.1             97.3           8.2          0.07%          0.11%
    -------------------------------------------------------------------------
      116.9        285.2(EOH)        168.3          0.17%          0.02%
    -------------------------------------------------------------------------
      200.2        285.2(EOH)         85.0          0.24%          0.01%
    -------------------------------------------------------------------------
      252.2            270.1          17.9          0.41%          0.01%
    -------------------------------------------------------------------------
      274.6           276.23           1.7          0.87%          0.01%
    -------------------------------------------------------------------------
    *EOH - (end of hole)
    

The drill-hole also intersected several anomalous concentrations of other metals, including:

    
    -   1.4 metres of 0.22% lead at 4.1 meters depth
    -   0.7 metres of 0.13 g/t gold at 36.8 meters depth
    -   0.6 metres of 0.15 g/t gold at 40.3 meters depth
    -   1.1 metres of 0.02% molybdenum at 280.7 meters depth

    09-SND-13: copper and zinc mineralization from surface
    ------------------------------------------------------

    -------------------------------------------------------------------------
      Start (m)       End (m)     Interval (m)    Copper (%)      Zinc (%)
    -------------------------------------------------------------------------
        0.0-         85.1(EOH)        85.1          0.05%          0.10%
    -------------------------------------------------------------------------
        2.8             24.3          21.6          0.11%          0.22%
    -------------------------------------------------------------------------
        7.9             16.0           8.1          0.15%          0.31%
    -------------------------------------------------------------------------
        9.5             15.2           5.7          0.16%          0.42%
    -------------------------------------------------------------------------
       46.7             54.7           8.0          0.05%          0.11%
    -------------------------------------------------------------------------
    

The drill-hole also intersected several anomalous concentrations of other metals, including:

    
    -   1.0 metres of 0.15% lead at 2.5 meters depth
    -   4.7 metres of 0.10% lead at 19.7 meters depth
    

Final results - SNL 2008 - 2009 exploration programs

The Corporation is preparing the first NI 43-101 compliant technical report on the Dansey project area, which will include results from SNL drill-holes 1 through 15 (09-SND-15 assays and compilation pending)., geochemical surveys, geological mapping, and a compilation of historical work on the prospect.

2010 exploration program

The Corporation is currently awaiting permits for additional drilling on the Midway target and is preparing a property and regional level geophysical program. First Nations' consultations are also on-going in respect of future exploration programs.

Exploration objectives for 2010 are to continue to examine near-surface mineralization associated with the apparent faulting structures, and to continue to assess the existence of an economic porphyry system.

The 40,000+ hectare Logan Copper project is centrally located between Highland Valley, Merritt and Kamloops. It includes the 100% owned Dansey project area, as well as certain other prospects and showings.

The Dansey project area is favorably located on the eastern flank of the prolific Guichon Batholith, straddling the contact between the batholith and the Triassic Nicola volcanics. The Dansey project area is located approximately 7 km from the world-class Highland Valley complex.

Recent acquisitions, Logan Copper property

The Corporation has recently acquired eight additional tenures totaling approximately 1810 ha. These tenures were purchased for a total consideration of $4,000 and include the Rhyolite (No. 092ISE147) and JHC (No. 92ISE027) MINFILE showings located adjacent to the Logan Copper property. These showings are located approximately 2km northeast of the Corporations "Lost Mine" project area. SNL plans to carry out orientation prospecting and rock sampling to confirm historically reported surface mineralization at these showings, and to plan suitable exploration programs.

This press release and the technical information contained herein was approved by Mr. Laurence Sookochoff, P.Eng., the Qualified Person for the Dansey Project, as defined by National Instrument 43-101.

    
         On behalf of the Board of Directors of SNL Enterprises Ltd.

                                 Thal Poonian
                           CEO/President/Director
                             Phone: 604.940.9157
    

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    
               Advisory Regarding Forward-Looking Information
    

This press release contains forward-looking information within the meaning of applicable securities laws. The use of any of the words "intend", "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions may identify forward-looking information.

Such forward-looking information concerns pending and ongoing exploration results derived from the Dansey Project. The Company has provided the forward-looking information in reliance upon certain assumptions that it believes are reasonable at this time, including assumptions as to faults and trending/imputed results. The costs to the Company associated with the Dansey Project exploration and the amount of time required for additional results and NI 43-101 compliant report preparation may increase for a number of reasons, including inclement weather, the availability of suitable personnel and third party delays. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Readers are also cautioned that the foregoing list of factors is not exhaustive.

The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE SNL ENTERPRISES LTD.

For further information: For further information: Thal Poonian, CEO, President, Director, Phone: (604) 940-9157, www.snlcanada.com

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