Buchans River intersects 23.15 metres of 6.62% combined base metals comprised of 4.22% zinc, 1.99% lead, 0.41% copper, 17.1 g/t silver & 0.21 g/t gold

    Trading Symbol:  BUV - TSX-V
    Shares Outstanding:  33,694,557

    HALIFAX, Feb. 25 /CNW/ - Buchans River Ltd. (BUV-TSX-V) ("Buchans River")
is pleased to provide results for five additional holes of the planned
40 hole, 5,000 metre, drill program on the Lundberg Zone located adjacent to
the Lucky Strike glory hole of the historic Buchans mine in central
Newfoundland. Results continue to define a volume of near surface mineralized
rock hosting disseminated and stockwork mineralization which may represent a
bulk tonnage resource amenable to open pit mining.
    Hole 3361, located about 16 metres east of the Lucky Strike glory hole
and about 20 metres north of the historic Buchans mine headframe has
identified excellent width and grade in a zone thought to be on the very edge
of the Lundberg Zone identified by the American Smelting and Refining Company
"Asarco" during the 1970's. This hole returned a 23.15 metre intersection
assaying 6.52% combined Zn+Pb+Cu comprised of 4.22% Zn, 1.99% Pb, 0.41% Cu,
17.1 g/t Ag and 0.21 g/t Au, including 10.05 m assaying 7.48% Zn, 3,84% Pb,
0.58% Cu, 17.5 g/t Ag and 0.19 g/t Au. Hole 3361 is also located about
40 metres north of hole 3356 whose results were announced on February 6th,
2008 and returned a 44.73 metre intersection assaying 7.21% combined base
metals (Cu+Pb+Zn) comprising 4.85% Zn, 1.64% Pb, 0.72% Cu, 19.4 g/t Ag and
0.17 g/t Au. Included in this section are high-grade intervals including
3.00 metres assaying greater than 17.14% combined base metals.
    Hole 3363 also collared on the very edge of what was thought to be the
Lundberg Zone returned a mineralized intersection of 13.61 metres assaying
2.93% combined Zn+Pb+Cu as 1.32% Zn, 0.34% Pb, 1.27% Cu, 4.8 g/t Ag and
0.04 g/t Au. Mineralization within this hole suggests that future exploration
should test whether the Lundberg Zone extends further into this prospective
    Holes 3359, 3360 and 3362, were all collared south of the Lundberg Zone
in an area where ongoing compilation of previous drilling results suggests
potential for identification of additional stringer stockwork mineralization
may occur proximal to the former Engine House underground mine workings. Holes
3360 and 3362 located just outside the edge of the anticipated Lundberg Zone
did not intersect mineralization of any significance, however, hole 3359
located a further 30 metres south of the southern edge of the known Lundberg
Zone intersected 12.50 m assaying 5.57% combined Zn+Pb+Cu, as 2.61% Zn, 0.96%
Pb, 2.01% Cu, 14.3 g/t Ag and 0.14 g/t Au, including 5.00 m assaying 2.76% Zn,
1.28% Pb, 2.63% Cu, 12.8 g/t Ag and 0.28 g/t Au.
    Results are compiled in the tables below. A map showing hole locations
with respect to the historical resource, as well as interpretative combined
base metal contours, (%Zn+%Pb+%Cu) is available at Buchans River's website at
http://www.buchansriver.ca/ .

    Table 1. Drilling Results Lundberg Zone

                                        Zn Pb
                                Core   Combi-
        Drill    From     To  length      ned     Zn    Pb    Cu    Ag    Au
         hole      (m)    (m)     (m)      (%)    (%)   (%)   (%) (g/t) (g/t)
    H-08-3361    8.85  32.00   23.15     6.62   4.22  1.99  0.41 17.07  0.21
    including   13.65  15.65    2.00     4.28   3.39  0.55  0.34 24.93  0.25
          and   17.65  32.00   14.35     8.33   5.24  2.69  0.41 12.26  0.13
    including   17.65  27.70   10.05    11.90   7.48  3.84  0.58 17.51  0.19
         also   21.65  23.15    1.50    32.82  20.63  11.20 0.99 30.33  0.23
    including   21.65  22.15    0.50    38.30  23.80  13.30 1.20 40.40  0.21
    H-08-3363   13.00  26.16   13.16     2.93   1.32   0.34 1.27 4.83   0.04
    including   13.00  16.00    3.00     4.70   2.80   1.12 0.78 8.00   0.05
          and   18.00  26.16    8.16     2.85   1.04   0.12 1.69 3.93   0.04
    including   19.00  19.50    0.50     8.69   2.09   0.90 5.70 5.48   0.02
    including   19.50  20.00    0.50     4.97   4.50   0.07 0.40 4.45   0.03
          and   95.00  96.00    1.00     5.18   3.80   1.12 0.26 4.79   0.01

    Table 2. Drilling Results Engine House Area

                                        Zn Pb
                                Core   Combi-
        Drill    From     To  length      ned     Zn    Pb    Cu    Ag    Au
         hole      (m)    (m)     (m)      (%)    (%)   (%)   (%) (g/t) (g/t)
    H-08-3359   68.00  80.50   12.50     5.57   2.61  0.96  2.01 14.34  0.14
    including   68.50  71.50    3.00     5.79   1.01  0.92  3.86 27.13  0.03
         with   70.00  70.50    0.50    11.88   1.78  3.00  7.10 67.80  0.04
          and   72.50  77.50    5.00     6.67   2.76  1.28  2.63 12.78  0.28
         with   73.50  74.00    0.50    15.00   2.90  1.80 10.30 29.50  0.05
         also   76.00  76.50    0.50    11.94   8.80  2.70  0.44 15.80  0.13
          and   78.50  80.00    1.50     8.03   3.61  1.09  3.33 10.63  0.09
    H-08-3360   88.00  89.00    1.00     1.85   1.06  0.75  0.04  1.71  0.01
    H-08-3362                  No samples taken

    (*) True widths have not been estimated due to the stockwork and
        disseminated nature of mineralization intersected, though previous
        drilling suggests the mineralization consists of a "stratigraphically
        controlled blanket" below massive sulphides (Thurlow and Swanson,
        1981) Geology and ore deposits of the Buchans Area, central
        Newfoundland. In: Swanson, E.A., Strong, D.F., and Thurlow, J.G.,
        (editors), The Buchans Orebodies: Fifty Years of Geology and Mining.
        Geological Association of Canada Special Paper 22. page 127, (pages
        113-142). All holes were drilled vertically from surface.

    (xx) Combined zinc, lead and copper percentages for each interval added

    Management's Comment

    Warren MacLeod, President of Buchans River stated "We are very pleased
with these results as we further define the limits of a potentially large,
near surface, bulk tonnage resource at Lundberg and are also pleased to see
that a subzone of higher grade material is also being defined that expands the
limits of higher grade material eastward, beyond limits previously interpreted
by Asarco. We are also very encouraged that our initial drilling south of
Lundberg, near the underground workings of the former Engine House orebody,
suggests potential exists to identify additional bulk tonnage resources

    Historical Mining

    Previous mining in the adjacent (*)Lucky Strike mine extracted high grade
ores from underground mining methods without mining the adjacent footwall
stringer mineralization currently being evaluated. This mineralization is
referred to as the Lundberg zone and represents a historical uncategorized
resource estimated by Asarco in 1974 to total 11.9 million tonnes averaging
1.83% zinc, 0.67% lead, 0.38% copper, 0.16 ounces per ton silver (5.5 g/t) and
trace gold(xx). This estimate was prepared before implementation of National
Instrument 43-101 (NI 43-101), is considered historic in nature, and therefore
cannot be relied upon. Details on the historic estimate are more fully
disclosed in the Buchans River's news release dated September 10, 2007.

    (*) The Lucky Strike mine was operated by the American Smelting and
Refining Company ("Asarco") between 1928 and 1959 and yielded historical
production totaling (*)4.3 million tonnes averaging 18.36% Zn, 8.42% Pb, 1.67%
Cu, 113 g/t Ag and 1.7 g/t Au. Past production figures for the Buchans Mines
including the Lucky Strike mine were obtained from an article written by
Neary, G.N., 1981: The Buchan Orebodies: 50 years of geology and mining. In:
Swanson, E.A., Strong, D.F., and Thurlow, J.G., (editors), The Buchans
Orebodies: Fifty Years of Geology and Mining. Geological Association of Canada
Special Paper 22. Page 61, Table 2.

    (xx) Trace gold is less than 0.01 ounces per ton gold (i.e. less than
0.35 g/t gold), the lower detection limit of historical gold assays used in
Asarco's resource estimate.

    Program Description

    The program is designed to provide sufficient data to aid estimation of a
National Instrument 43-101 (NI 43-101) compliant resource for an undeveloped
zone of near surface stockwork and disseminated mineralization located
adjacent to the former high grade Lucky Strike mine. To date, Buchans River
has completed 29 holes totaling approximately 3,600 metres of a planned
5,000 metre program. Assays have been submitted on a weekly basis in batches
comprised from multiple holes. Additional assays will be released as they are
received. By compiling a new NI 43-101 resource estimate, Buchans River
management hopes to begin assessing the Lundberg zone as a potential open pit
mineable bulk tonnage resource as well as identify portions of the zone that
may host significantly higher grades that may be exploitable by either open
pit or underground means.

    Other Programs

    Buchans River continues to plan additional drill programs for 2008
including a winter drill program at its Clementine West prospect. Poor snow
conditions have resulted in a late start of the originally planned 2,200 m
program, which is now expected to be reduced in scale to allow completion of
the program during optimal winter weather conditions. The program is currently
expected to start within a week or so. Details of this program are described
in the company's news release dated January 10, 2008. In addition, Buchans
River currently plans to maintain its 49% participating interest in the Tulks
Hill joint venture with partner Prominex Resources Corp.

    Qualified Person & Sampling Procedure

    The drill program is being managed by Mercator Geological Services
Limited of Dartmouth Nova Scotia under the direction of Peter Webster, P.Geo.,
(NL). Drill intercepts quoted are core lengths and true widths have not been
estimated due to the stockwork and disseminated nature of mineralization
intersected, although previous drilling suggests the mineralization consists
of a "stratigraphically controlled blanket". Logging, sampling and assaying
procedures are being completed as per Buchans River's QA/QC protocols as
described in Buchans River's press release dated August 29, 2007. Paul Moore,
M.Sc., P.Geo., (NL), Buchans River's Vice President of Exploration, is acting
as Qualified Person in compliance with National Instrument 43-101 with respect
to this release and has reviewed the contents for accuracy.

    About Buchans River

    Buchans River is a resource company based in Halifax, Nova Scotia, Canada
and is focused on exploring and developing base metal properties in the famous
Buchans mining camp in central Newfoundland and Labrador, Canada. Buchans
River is 26.39% controlled by Royal Roads Corp. (RRO - TSX-V) ("Royal Roads")
which currently owns 8,890,953 Buchans River shares. Royal Roads is a
Halifax-based resource company also developing base metal properties in
Newfoundland and Labrador. Together, Royal Roads and Buchans River control a
total of 33,700 hectares within central Newfoundland's Victoria Lake and
Buchans mining camps, including the historic Buchans mine (owned by Buchans
River) and the Daniels Pond deposit (owned by Royal Roads). Buchans River also
controls several exploration properties outside of the Buchans camp, including
several under joint venture to Prominex Resource Corp. (PXR - TSX-V) and
Playfair Mining Ltd. (PLY - TSX-V), which are being actively explored.

    Forward Looking Statements

    Certain information regarding Buchans River contained herein may
constitute forward-looking statements within the meaning of applicable
securities laws. Forward-looking statements may include estimates, plans,
expectations, opinions, forecasts, projections, guidance or other statements
that are not statements of fact. Although Buchans River believes that the
expectations reflected in such forward-looking statements are reasonable, it
can give no assurance that such expectations will prove to have been correct.
Buchans River cautions that actual performance will be affected by a number of
factors, many of which are beyond the Buchans River's control, and that future
events and results may vary substantially from what the Company currently
foresees. Buchans River's forward-looking statements are expressly qualified
in their entirety by this cautionary statement.

    For additional information on the Company's properties and activities,
please visit our web site at http://www.buchansriver.ca/.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.
    %SEDAR: 00004513E

For further information:

For further information: Warren G. MacLeod, President & CEO; David
Felderhof, Vice-President, (902) 444-3637

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