May 12 , 2004
Hawk Gold Property Option Agreement Signed
Softrock Minerals Ltd (SFT-TSX.V) (the “Company”) is pleased to announce that it has concluded an agreement with Redcorp Ventures (RDV-TSX), (Redcorp) subject to Softrock obtaining regulatory approval, whereby Softrock has the option to acquire up to a 60% interest in the Redcorp’s Hawk Gold property located in North Central British Columbia.
In order to acquire the 60% Joint Venture interest Softrock must carry out escalating exploration expenditures on the property aggregating $600,000, including at least 3000 meters of drilling, and make cash payments totaling $60,000 to Redcorp on or before April 2, 2007. Softrock has made the initial payment of $5,000 to Redcorp on execution of the Agreement. Once Softrock has earned its interest, Softrock and Redcorp will enter into a 60/40 participating Joint Venture to conduct further work on the property.
The Hawk Gold property consists of 17 mineral claims covering an area of 66 sq. kilometers and is located in the Omineca mountains of North-Central British Columbia, approximately 40 kilometers west of the Omineca mine road servicing the Kemess Gold Mine. A network of active logging roads provides access to the claims.
Redcorp reports that their last year’s fieldwork indicated that high grade gold-copper mineralization occurs in several quartz veins hosted by intrusive rocks of the Hogem batholith. A large zone of disseminated copper mineralization has also been identified. Exploration work by Redcorp in 2002 located several new occurrences of high-grade mineralization and evaluated several of the known vein systems. Values in the Radio, SW and Zulu veins often exceed 30 g/t Au with subordinate silver and copper values over widths ranging from 0.2 to 0.6 meters. The AD vein system generated the widest mineralized zones (including 96.0 g/t Au/ 3.0m chip on surface, drill-hole intersections of 12.4 g/t Au over 2.7 meters, 10.6 g/t Au over 2.8 meters and 8.6 g/t Au over 3.6 m) and remains highly prospective for potential resource definition. In addition, surface soil gold geochemical anomalies suggest the presence of extensions to the zone as well as additional veins and splays.
Redcorp’s work to date indicates that there is excellent untested potential for significant gold mineralization at the Hawk property. Additional information and results from past exploration on the Hawk project is available on Redcorp’s website at www.redcorp-ventures.com.
Softrock Minerals Ltd is a Calgary based mineral and oil exploration and development company with active projects in British Columbia , Saskatchewan and Alberta .
On behalf of the Board of Directors
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