Volta announces NI 43-101 resource estimate at Gaoua 724,880,000 lbs of copper and 1,072,900 ounces of gold inferred



    TSX: VTR

    TORONTO, Feb. 5 /CNW/ - Volta Resources Inc. ("Volta" or the "Company")
(TSX:VTR) has completed a NI 43-101 compliant resource estimate at its Gaoua
copper-gold porphyry project in southern Burkina Faso, West Africa. At a 0.45%
copper equivalent cut-off grade, the Dienemera and Gongondy deposits host an
initial Inferred Resource of 82,600,000 tonnes grading 0.40% copper and 0.40
g/t gold for a total of 724,880,000 lbs of copper and 1,072,900 ounces of
gold.
    The mineral resource estimate was prepared by SRK Consulting (UK) Ltd.
based on over 26,661 metres of diamond drilling in 92 holes and 1,305 metres
in 15 reverse circulation holes ("RC"). The mineral resource estimate follows
the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definitions
standards for mineral resources and reserves, and has been completed in
accordance with the standards of disclosure for mineral projects as defined by
National Instrument 43-101.
    "We are extremely pleased with the initial resource defined at Dienemera
and Gongondy," says Kevin Bullock, Volta's President and CEO. "We are
confident that the geological models derived from the diamond drilling carried
out to date are robust, providing a solid basis for understanding the nature,
geometry and orientation of the mineralization. The potential for additional
resources are strong as both deposits remain open at depth and along strike."
    A breakdown of the tonnage and grade, at various cut-offs, for the two
deposits are presented below.
    Please click on the link below to view the table:

    http://files.newswire.ca/407/Volta_Gaoua_Estimate.doc

    SRK have constrained the resource in optimized open pits based on
reasonable technical and economic parameters which they consider to have
reasonable prospects for eventual economic extraction. The table above
summarises the in-situ Mineral Resource stated at a 0.45% Copper Equivalent
(CuEQ) cut-off grade within the defined mineralisation models. CuEQ has been
calculated from assumed revenues of US$3,000/t copper and US$700/oz gold with
metallurgical recovery assumed to be 85% and 70% respectively. Gold grade has
been multiplied by 0.6 and added to the copper grade to provide a CuEQ grade.
The cut-off grade further assumes typical costs of US$2/t for mining and
US$10/t for processing and general administration costs. The NI 43-101
technical report will be posted on the company's website as well as SEDAR
within 45 days.
    The 687.5 km(2) Gaoua project area includes a 35 kilometer long anomalous
porphyry trend, clearly defined during a high definition airborne geophysical
survey completed late last year and it is along this trend that the Dienemera
and Gongondy deposits reside (See Figure No. 1). The deposits outcrop
approximately 7 kilometres apart and exhibit similar distinctive geophysical
signatures. Similar signatures along the corridor indicate that potential
exists for additional deposits that are under transported cover between
Gongondy and Dienemera and along the greater 35 kilometer strike extent. There
is therefore potential to extend the current resources and significantly
enhance the overall potential of the Gaoua copper-gold project.
    Based on these findings, Volta will shortly commence detailed geochemical
auger drilling between the Dienemera and Gongondy deposits where regolith,
comprising transported laterite and alluvium, may have masked the geochemical
response produced by traditional soil sampling programs. Volta will also
continue to explore the western side of the post-mineralized gabbro at the
Gongondy deposit with further RC drilling.
    Please click on the link below to view Figure No. 1:

    http://files.newswire.ca/407/Volta_Gaoua_Estimate.doc

    Under the guidelines of National Instrument 43-101, the qualified person
for the Gaoua copper-gold project is Mr. Guy Franceschi, Vice President,
Exploration for the Company. Mr. Franceschi is a member of the European
Federation of Geologists and has reviewed and approved the contents of this
news release.

    Volta is a mineral exploration company focused on becoming the leader in
the identification, acquisition and exploration of gold properties in West
Africa. The Company is committed to West African exploration and is
Canadian-based with its head office in Toronto, Ontario and operations offices
in Accra, Ghana and Ouagadougou, Burkina Faso. The Company currently has $5.5
million in cash and marketable securities with a quoted market value of
approximately $3.0 million for a total of $8.5 million. There are 53.2 million
common shares issued and outstanding.

    
    The Toronto Stock Exchange does not accept responsibility for the
    adequacy or accuracy of this news release.
    

    Forward Looking Information Caution:

    This press release presents "forward-looking statements" within the
meaning of Canadian securities legislation that involve inherent risks and
uncertainties. Forward-looking statements include, but are not limited to,
statements with respect to the future price of gold and other minerals and
metals, the estimation of mineral reserves and resources, the realization of
mineral reserve estimates, the capital expenditures, costs and timing of the
resources, the realization of mineral reserve estimates, the capital
expenditures, costs and timing of the development of new deposits, success of
exploration activities, permitting time lines, currency exchange rate
fluctuations, requirements for additional capital, government regulation of
mining operations, environmental risks, unanticipated reclamation expenses,
title disputes or claims and limitations on insurance coverage. Generally,
these forward-looking statements can be identified by the use of forward
looking terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of Volta to be materially different from
those expressed or implied by such forward looking statements, including but
not limited to: risks related to international operations, risks related to
the integration of acquisitions; risks related to joint venture operations;
actual results of current exploration activities; actual results of current or
future reclamation activities; conclusions of economic evaluations; changes in
project parameters as plans continue to be refined; future prices of gold and
other minerals and metals; possible variations in ore reserves, grade or
recovery rates; failure of equipment or processes to operate as anticipated;
accidents, labour disputes and other risks of the mining industry; and delays
in obtaining governmental approvals or financing or in the completion of
development or construction activities. Although the management and officers
of Volta believe that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions and have attempted to
identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there may be
other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. Volta Resources does not
undertake to update any forward-looking statements that are incorporated by
reference herein, except in accordance with applicable securities laws.

    %SEDAR: 00026749E




For further information:

For further information: please refer to our website
www.Voltaresources.com or contact: Kevin Bullock, P.Eng., President & CEO,
Tel: (416) 867-2299, Fax: (416) 867-2298, Email: kbullock@voltaresources.com;
Investor Relations: Vancouver: Farah Alibhai, Tel: (604) 731-7340, Email:
falibhai@voltaresources.com

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