Tumi Resources Stakes Tungsten Property at Gustavsberg, Bergslagen District, Sweden


Frankfurt - TUY

Pink Sheets - TUMIF

VANCOUVER, Feb. 16 /CNW/ - Tumi Resources Limited (the "Company") (TSXV: TM) (Pink Sheets: TUMIF) (Frankfurt: TUY). Mr. David Henstridge, President, is pleased to announce that the Company has acquired through staking a 126 hectare mineral concession at Gustavsberg in south-central Sweden; three other concessions are awaiting approval by the authorities. The new and pending concessions are located in the Bergslagen District of south-central Sweden. The primary target commodity on these concessions is tungsten, a strategic metal that in recent years has seen its value increase by more than 70%. The tungsten metal market is expected to see shortages beginning in 2011, which is due in part to export restrictions from China. China is the largest producer, with 2009 data showing greater than 75% of the world production.  China is soon expected to be a net importer of the metal. By staking these claims Tumi will be well positioned for tungsten exploration in Sweden over the coming years.

Gustavsberg is the location of Gustavsbergsgruvan, a historic iron mine in the Riddarhyttan area, Bergslagen, south-central Sweden. Historic documentation from the mine indicates that copper and tungsten minerals were found in the skarn adjacent to the iron ore. Mine geologists reported discoveries of "up to football-sized patches of scheelite, a tungsten bearing mineral" in the footwall skarn. The mineralization is located in a N-S to NW-SE trending band of thinly bedded/banded metavolcanic rocks of alternating felsic and mafic nature. In addition, large intrusions of younger granites occur in the area. The nearby intrusion makes this deposit similar to Yxsjoberg and Wigstromsgruvan, two Swedish tungsten mines that were in operation in the late 20th century. No modern exploration for tungsten has been done in the area though amateur geologists have been reporting scheelite occurring in the waste dumps at the mine. This makes Gustavsbergsgruvan a prime target for modern tungsten exploration.

Dr Michael Berry, at the Vancouver Cambridge Conference in January, 2011, in his presentation on geopolitics and critical metals, identified tungsten (along with rare earths and indium) as one of five metals likely to be in very short supply in the future.   As well, in June 2010, the European Commission published a report which identified 14 raw mineral materials as critical to European industry of which tungsten was one (Critical Raw Materials for the EU: Report of the Ad-Hoc Working Group on Defining Critical Raw Materials, European Commission, June 2010).

Mr Henstridge stated: "Tumi remains very active in Bergslagen having started our exploration in this highly mineralized district in 2005.  The Company is currently drill testing three projects having commenced at Tomtebo, followed by Vitturn and Jonsmossen.  We are also very pleased to add to our portfolio the Gustavsbergsgruvan area, commencing our Swedish tungsten exploration program. With China's Government putting restrictions on tungsten exports, the supply shortages are expected to continue making tungsten a critical and strategic commodity both within Europe and elsewhere. By being among the first to act, we have positioned Tumi well at the forefront in seeking new tungsten resources".

The qualified person for Tumi's projects, Anders Hogrelius, a Member of the Australian Institute of Geoscientists, has visited all of the Company's properties in Sweden and has verified the contents of this news release.

On behalf of the Board,

"David Henstridge"  
David Henstridge, President & CEO

Forward Looking Statements This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management.  Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events.  Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. 

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

SOURCE Tumi Resources Limited

For further information:

Company Contact: 
Mariana Bermudez at (604) 699-0202
or email: mbermudez@chasemgt.com
website: www.tumiresources.com
          Investor Information Contact:
Mining Interactive
Nick L. Nicolaas at (604) 657-4058
or email: nick@mininginteractive.com

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Tumi Resources Limited

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