Bonanza style silver mineralization Intersected on Drilling on the MB Silver Property

    Trading Symbol: TSX -MTB
    (OTC Other MBYMF)

    STEWART, BC, Jan. 30 /CNW/ - Mountain Boy Minerals Ltd. announce that a
drilling program on Mountain Boy's 100% owned MB property confirmed bonanza
style silver mineralization. The MB property is located about 22 kilometres
north of Stewart and is road accessible along the American Creek valley.
    Replacement type mineralization on the property consists of at least
seven main and four minor replacement zones tested with trenches, previous
open cuts, limited diamond drilling and/or adits in the past. The
mineralization occurs along wide bodies that are up to 15 meters thick
consisting of mainly barite, quartz, jasper, carbonates and sulfides with
local native silver. Acanthite (silver sulphide) and stromeyerite
(silver-copper sulphide) occur as veinlets, stringers and lenses in the High
Grade and No 3 vein, giving rise to bonanza style grades.
    Between 1929 and 1938, the MB property produced 60 tons of hand cobbed
material that yielded an average 546.8 oz/ton silver, 3.2 % copper and 3.15 %
lead per ton of ore. In 1940, mining extracted 3.08 tons grading an average
0.09 oz/to gold, 248 oz/ton silver, 2.2 % copper, 4.9 % lead and 5.8 % zinc.
In 1999, Mountain Boy Minerals extracted a13.6 tonne (15 ton) sample from the
High Grade vein with results from the smelter indicating a value of
18,854-grams/tonne silver (550 oz/ton), 1.1 % zinc and 2.5 % lead for this
    Based on the surface and underground sampling and drilling, an indicated
resource totaling 105, 555 tonnes grading 0.064 % copper, 0.69 % lead, 2.01 %
zinc, 208.9 g/t silver and 13.59 % barite has been outlined in a very small
portion of three different veins. A complete report is filed on Sedar dated
June 20, 2003.
    Due to the steep nature of the terrain, a drill station was blasted out
below the High Grade vein and 14 holes drilled from this station using an
underground drill to fan a series of holes from this location. In the course
of stripping of the High Grade vein using a small excavator in order to build
the drill station, massive acanthite (argentite) stringers up to 15 cm wide
were exposed along several meters of length in a fault zone that intersects
the vein. The full length of the mineralization was not exposed due to the
deep overburden on either end of the exposure. This orientation of veining has
never been seen in the past and may represent feeders to high grade
mineralization found in the High Grade and No 3 veins. Grab sampling of these
stringers has yielded over 15,000 g/t silver.

    Results from the short holes drilled at this station are listed below:

    DDH       From      To     Width      Ag g/t      Cu %     Pb %     Zn %
              (m)       (m)     (m)
    2006-6    0.62    1.34      0.72      172.5      0.055     0.09     0.22
    2006-7    2.32    5.03      2.71     1501.0      0.185     0.14    0.268
    2006-8    2.13    6.40      4.27     1706.0      0.164     0.14    0.286
    2006-9       0    3.66      3.66     1588.0      0.211     0.01     0.16
    2006-10      0    5.18      5.18     5258.0       0.66     0.05     0.05
    2006-11      0    3.66      3.66      802.0       0.12     0.14     0.14
    2006-13      0    2.29      2.29       1485      0.221     0.80     0.41
    2006-14   3.66    8.69      5.03      152.6       0.04     0.08     0.29
    2006-15   2.13    7.92      5.79      660.0       0.14     0.29     0.23
    2006-16   2.13    5.79      3.66      572.0      0.098    0.105    0.285
    2006-18   6.10    9.15      3.05      842.0      0.117     0.13     0.15
    2006-19   6.10   14.63      8.53     2260.0      0.404     0.48     0.56

    It should be noted that the High Grade vein has only been tested along a
100 meter section in the southern portion of the Mountain Boy claim. Based on
newspaper accounts, bonanza style silver mineralization apparently occurs
several hundred feet (60 meters) south of the area of drilling. In addition
the No 3 vein located 100 meters topographically above the High Grade vein has
reported grades that contain 0.91 meters of 12,917 g/T, 0.46 meters of
18,361 g/T, 0.91 meters of 13,569 g/t and 1.22 of 6,361 g/T silver over a
strike length of 100 meters along this vein.. The High Grade vein has been
traced over a length of 457 meters and the No 3 vein has been traced over a
strike length of 550 meters. The No 3 vein appears to strike into the former
Silver Mask claim (present Stromeyerite claim owned by Mountain Boy) which
appears to have similar high grade mineralization. On the Silver Mask claim,
an article in the June 28, 1929 edition of the Stewart News indicates that a
vein 1.83 meters (6 feet) wide was located on this claim. The article
describes the vein as similar to the High Grade vein on the Mountain Boy
property approximately 500 meters away with "copper sulphides mixed with
bunches and stringers of native silver. Four additional veins have been
located, some of them with similar high grade ore and some carrying galena in
massive form".
    Future work will try to locate all previously reported mineralization on
the High Grade and Mo 3 vein as well the showings on the former Silver Mask
claim and extend the known strike length of the cross-cutting massive
argentite found during stripping for the drill station..
    E. Kruchkowski, P. Geo., a qualified person under National Instrument
43-101, is in charge of the exploration programs on behalf of the Company.
Drill core and trench samples are assayed by Assayers Canada of Vancouver, BC.

    Mountain Boy Minerals Ltd is a Canadian based mineral exploration company
whose activities are in the Stewart and McKenzie area of BC. It is actively
exploring for gold-silver-base metals on the Silver Coin project, silver-base
metals on their American Creek properties, copper-gold in the Stewart area,
porphyry molybdenum in the Stewart and McKenzie areas and
copper-nickel-platinum group metals in the McKenzie area.


    "Ed Kruchkowski"

    Ed Kruchkowski, Director

    %SEDAR: 00013756E

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