General Properties Ltd. announces drilling results on Clear Hills Iron Ltd., North Rambling Creek Prospect

    CALGARY, June 18 /CNW/ - General Properties Ltd. (TSX Venture Exchange:
GPL) (the "Corporation") is pleased to announce drilling results from the
North Rambling Creek Prospect (the "Prospect") in which the Corporation's
wholly owned subsidiary Clear Hills Iron Ltd. ("Clear Hills"), has an
interest. The Prospect is located northeast of Worsley, Alberta.
    The Corporation conducted a limited drilling program on the Prospect
which confirmed the presence of the historical iron mineralization hosted
within the Bad Heart Formation on the property. This has been previously
reported in the Corporation's National Instrument 43-101 technical report
which is available on . The diamond drill holes were collared on
hill tops due to wet conditions in the adjacent valleys. Diamond drill hole
CHI-NRC-202 was collared at 2,830 feet elevation and returned 15 feet grading
28.74% Fe(2)O(3). Diamond drill hole CHI-NRC-203 was collared at 2,904 feet
elevation and returned 26.8 feet grading 32.8% Fe(2)O(3).
    The exploration and drilling program on the Prospect was carried out
under the direction of Mr. Tom Sneddon P.Geol., a qualified person within the
meaning of National Instrument 43-101. Mr. Sneddon has reviewed the
exploration results contained in this press release. The core was split in
half by Core Laboratories Canada Ltd. and sent to Saskatchewan Research
Council labs for whole rock analysis.
    Reconnaissance sampling of the iron outcrop at 118.8490208 W 56.6155357 N
(05-11-088-06W6), approximately one kilometer south of hole CHI-NRC-203
obtained during a previous field program were tested in the 2006 program to
provide a control reference for the diamond drill holes and graded 44.5%
Fe(2)O(3) and 46.8% Fe(2)O(3). The samples were collected across a weathered 6
foot cut, bagged and sent to Saskatchewan Research Council labs for
preparation and analysis using whole rock assay. These samples are being used
for a basis for comparison and quality control purposes.
    The Corporation previously announced on June 4, 2007 that it is
undertaking a non-brokered private placement offering of up to $1,020,000
worth of common shares issued on a "flow-through basis" and up to $1,020,000
worth of equity units, each such unit consisting of a common share of the
Corporation and a common share purchase warrant. The net proceeds from the
proposed private placement will be used to undertake additional exploration in
respect of the lands (the "Lands") covered by the 32 Metallic and Industrial
Mineral Permits held indirectly by the Corporation, such permits covering an
area of approximately 213,206 hectares (823.2 square miles) in the Peace River
area of northern Alberta, and for general corporate purposes. The Corporation
proposes to conduct up to 5,000 meters of exploratory drilling on the Prospect
and its South Whitemud Lake prospects as well as other exploration on the

    The Corporation is a mining exploration and development company with
holdings in Northern Alberta, Canada. Information about the Corporation can be
found at

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this press release and has neither approved nor
    disapproved the contents of this press release.

For further information:

For further information: Robert B. Knight, President, Chief Operating
Officer and Chief Financial Officer, Telephone: (403) 531-2088, Facsimile:
(403) 531-2099, Cell phone: (403) 804-5200, Email:

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