Mashwa Minerals Ltd. Acquires Historical Drilling Data Revealing High-Grade Extensions of Past Mines at the Bear Mountain Project, Nunavut, Canada

Mashwa Minerals Ltd. is pleased to announce that it has acquired historical data including mine maps, sections and results of 40 holes drilled in multiple surface and underground exploration campaigns that occurred from the 1970s through the early 1990's at its Bear Mountain project in Nunavut, Canada. The exploration programs were focused on many underground mines that closed in 1998. The majority of these historic holes cut broad widths of high-grade gold, the best include:

Hole 84612-2 that cut 5.1 meters grading 38.6 grams of gold per ton.

Hole 83561-1 that cut 11.3 meters grading 21.4 grams of gold per ton.

The drill results indicate that the historically mined deposits included multiple veins continue at depth both down plunge and along-strike.

It is estimated that only 10,000 ounces of gold were previously mined from the site.

"Mashwa Minerals Ltd. Phase 1 drilling demonstrated the district-scale potential for high-grade veins at various zones within the site. The acquisition of this data adds another dimension to the project by providing low-to-no-cost geologic answers for areas that Mashwa Minerals would otherwise have had to drill, while revealing high-potential targets for immediate drilling around the old mines," stated Dr. Trent Hanson, Chief Geologist at Mashwa Minerals Ltd.

"These new targets will be added to our large inventory of targets that will be further delineated and expanded upon by our Phase II drill program. Beyond the technical value of the data, we also regard the fact that they were presented to us by a local resident as affirmation of our focus on operating in a socially and environmentally responsible manner in the local community."

Drill highlights from the 40 holes drilled at the project include: (only gold was assayed)

1.2 meters of 14.3 grams of gold per ton (Hole 88198-2)

1.9 meters of 15.8 grams of gold per ton (Hole 81163-3)

4.7 meters of 11.9 grams of gold per ton (Hole 82351-1)

11.7 meters of 12.7 grams of gold per ton (Hole 87642-1)

16.7 meters of 11.1 grams of gold per ton (Hole 80742-1)

14.4 meters of 13.3 grams of gold per ton (Hole 85429-2)

22.0 meters of 9.9 grams of gold per ton (Hole 85202-1)

14.7 meters of 10.4 grams of gold per ton (Hole 82410-2)