Drilling resumes at Etruscan's Finkolo Gold Project in Mali

    HALIFAX, April 18 /CNW/ - Etruscan Resources Inc. (EET.TSX) reported that
drilling has resumed on the Finkolo Gold Project in Mali South with an
8,200 meter program to be completed before the rainy season in July. This next
phase of drilling is planned to infill the main Tabakoroni resource area with
25 meter spaced holes on 50 meter spaced sections to a vertical depth of
approximately 100 to 120 meters. The drill program will provide sufficient
information to refine the resource estimation and further test the down dip
potential of mineralization by identifying a possible plunge to the high grade
    As previously reported, the Tabakoroni Zone has been confirmed over a
strike length of 1.7 kilometers. Previously reported highlights (Etruscan
press releases May 30, 2006, March 15, 2006, January 23, 2006, January 17,
2007 and March 7, 2007) from Finkolo include:

    - 10 meters of 201.1 g /t gold (including 2 meters of 982.3 g/t gold)
    - 42 meters of 4.3 g /t gold (hole ended in mineralization)
    - 14 meters of 67.9 g/t gold (including 2 meters of 465.2 g/t gold)
    - 8 meters of 27.3 g/t gold (including 2 meters of 93.6 g/t gold)
    - 23 meters at 7.9 g/t gold (including 2 meters of 39.8 g/t gold)
    - 15 meters at 7.6 g/t gold (including 2 meters of 45.0 g/t gold)
    - 14 meters at 6.2 g/t gold (including 3 meters of 21.9 g/t gold)
    - 12 meters at 7.8 g/t gold (including 2 meters of 26.7 g/t gold)
    - 7 meters of 15.0 g/t gold (including 2 meters of 43.3 g/t gold)
    - 5 meters of 65.4 g/t gold (including 1 meter of 241.0 g/t gold)
    - 3 meters of 61.0 g/t gold (including 1 meter of 178.8 g/t gold)
    - 6 meters of 14.3 g/t gold (including 1 meter of 61.9 g/t gold)
    - 9 meters of 11.2 g/t gold (including 2 meters of 46.6 g/t gold)
    - 4 meters of 14.0 g/t gold (including 1 meter of 39.7 g/t gold)
    - 5 meters of 7.5 g/t gold (including 1 meter of 31.4 g/t gold)
    - 6 meters of 8.6 g/t gold (including 2 meters of 21.9 g/t gold)
    - 5 meters of 16.8 g/t gold (including 1 meter of 73.8 g/t gold)
    - 4 meters of 10.4 g/t gold (including 2 meters of 19.7 g/t gold from the
      Porphyry Zone)

    A number of previously drilled reverse circulation holes will be deepened
with diamond drill core including hole TAC-137 which intersected the highest
grade intercept to date with 2 meters of 982.3 grams per tonne gold, and also
had a deeper intersection of 42 meters at 4.3 grams per tonne gold that ended
in mineralization at a downhole depth of 102 meters.
    Encouraging results of a 117 hole (6,157 meter) air core reconnaissance
drilling program completed on the Tabakoroni and Porphyry Zone extensions
during January are being evaluated for follow up drilling in addition to the
8,200 meters of drilling (6,470 meters of reverse circulation and 1,730 meters
of diamond core drilling) presently underway.
    The Finkolo Permit is contiguous with the Syama Permit of Resolute Mining
Limited ("Resolute") which hosts the 6.4 million ounce Syama Gold Mine.
Resolute has recently announced that it expects construction of the Syama Gold
Mine to be completed in the second half of 2008 at a cost of US$118 million.
Current mineable reserves at Syama are estimated to be 1.6 million ounces at
an average grade of 4.1 g/t. Resolute is the Project Manager of the Finkolo
Joint Venture and has recently notified Etruscan that it has expended the
necessary funds to earn an additional 10% interest in the project, which would
bring their total interest in the project to 60%. Resolute had already earned
a 50% interest by expending US$2,000,000 and had elected to earn an additional
10% by expending a further US$1,000,000. These additional earn-in expenditures
are currently being audited in accordance with the joint venture agreement.
Under the terms of the joint venture agreement Resolute must fund all costs of
the joint venture until production of a feasibility study and Etruscan will
reimburse Resolute from 50% of its share of future project cash flow.
    All gold analyses were performed by Analabs Laboratories at Morila, Mali
using standard screen metallics assay procedures. All assays numbers are
reported as un-cut and all intercepts are reported as drill width and are not
to be interpreted as true widths. K. Kirk Woodman P.Geo., Etruscan's Chief
Project Geologist, is the Qualified Person overseeing Etruscan's exploration
programs in West Africa.

    About Etruscan Resources Inc.

    Etruscan Resources Inc. is a gold focused Canadian junior mining company
with dominant land positions in district scale gold belts covering more than
10,000 sq. km in West Africa. Its principal properties include the Youga Gold
Project in Burkina Faso currently under development and scheduled for
commissioning in June 2007 (Press release dated February 27, 2007), the Agbaou
Gold Project in Cote d'Ivoire with an 11,000 metre diamond drilling program in
progress (Press release dated January 11, 2007), the Diba Gold Project in Mali
with a comprehensive diamond and reverse circulation drilling program underway
(Press release dated January 8, 2007), the Finkolo Gold Project in Mali where
an 8,200 meter reverse circulation and diamond drilling program is being
carried out and the Banfora Gold Belt in Burkina Faso with eight major gold
targets identified and where a single sample auger drilling program began in
March 2007 (Press release dated November 27, 2006). Etruscan also has a 51%
interest in Etruscan Diamonds Limited which has a dominant land position in
the Ventersdorp Diamond District located in South Africa. (Press release dated
March 14, 2007). The common shares of Etruscan are traded on The TSX Exchange
under the symbol "EET". More extensive information on Etruscan can be found on
its home page at http://www.etruscan.com.

    This press release may contain certain forward-looking statements which
involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Forward-looking
statements may include statements regarding exploration results and budgets,
mineral reserve and resource estimates, work programs, capital expenditures,
mine operating costs, production targets and timetables, future commercial
production, strategic plans, market price of precious metals or other
statements that are not statements of fact. Although the Company believes the
expectations reflected in such forward-looking statements are reasonable, it
can give no assurance that such expectations will prove to have been correct.
Various factors that may affect future results include, but are not limited
to: fluctuations in market prices of precious metals; foreign currency
exchange fluctuations; risks relating to mining exploration and development
including reserve estimation and costs and timing of commercial production;
requirements for additional financing; political and regulatory risks, and
other risks and uncertainties described in the Company's annual information
form filed with the Canadian Securities regulators on SEDAR (www.sedar.com).
Accordingly, readers should not place undue reliance on forward-looking


For further information:

For further information: Richard Gordon, Investor Relations, (877)
465-3674, Fax (902) 832-6702, rgordon@etruscan.com; Tony Hayes, (866)
638-3338, Fax (905) 468-8407, thayes@etruscan.com

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