Messina Minerals Inc. - Glitter, Newfoundland

Glitter

PROSPECTIVE FOR:

Volcanogenic zinc-lead-copper-silver-gold massive sulphide deposits.
Mesothermal gold deposits.

PROPERTY SIZE:

713 mineral claims
17,835 hectares
178.35 square kilometers

PROPERTY LOCATION:

Central Newfoundland.
Messina's Boomerang, Domino, Hurricane, and Tulks East B Zone mineralized zones are within the project.
65 km southwest by road from the Duck Pond Mine.

OWNERSHIP INTEREST:

Messina earned a 100% interest from Xstrata Zinc Canada (formerly Falconbridge Limited, successor to Noranda Inc.). Xstrata retains: the right of first refusal to purchase mineral concentrates at commercial rates; and the right at Xstrata's election to be paid a 2% NSR or to back-in for a 50% interest if a >10 million tonne ore deposit with a positive feasibility is delineated. Windarra Minerals retains a 2% NSR on Messina's share of production capped at $2 million maximum. Tulks Resources retains a 0.5% NSR on Messina's share of production payable in cash or shares at Messina's election.

SUMMARY MINERAL RESOURCES (refer to Mineral Resources section)

Boomerang indicated mineral resources (Snowden 2007):
1,364,000 tonnes @ 7.1% zinc, 3.0% lead, 0.5% copper, 110 g/t silver, 1.7 g/t gold

Boomerang inferred mineral resources (Snowden 2007):
689,300 tonnes @ 6.5% zinc, 2.8% lead, 0.4% copper, 95 g/t silver, 0.9 g/t gold

NI43-101 Reports

Technical Report on the Tulks South Property, Sparkes Consulting Limited, 601 pp., February 24, 2006; SEDAR filed March 15, 2006.
Technical Report on the Tulks South Property, FORTIS GeoServices Limited, 158 pp., June 15, 2006; SEDAR filed August 24, 2006.
Technical Report Mineral Resource Estimate on the Tulks South Property, Snowden Group and FORTIS Geoservices, 97 pp., August 1, 2007; SEDAR filed August 2007.

Highlights

Zinc-lead-copper enriched massive sulphides have been discovered on the property at the Boomerang and adjacent Domino and Hurricane prospects and at the Tulks East B Zone and A Zone located 20 km northeast of Boomerang.
Three productive horizons containing massive sulphide mineralization have been recognized on the property.
- The main "Boomerang" horizon contains the Boomerang, Domino, and Hurricane mineral resource areas plus numerous showings such as the Zinc Zone, TouchDown, Tulks West copper stockwork, Hill Top, Hillbottom, End Zone and others.
- The Curve Pond horizon contains the Curve Pond massive sulphide prospect and the Spur Road showing, and others.
- The Dragon Pond horizon contains the Dragon Pond massive sulphide showing. Each of these horizons has a 10 to 20 km strike length through the property.
Significantly, both Curve Pond and Dragon Pond are associated with "iron formation" which is a hallmark of large massive sulphide deposits of the Bathurst camp in New Brunswick and elsewhere around the world.

Two significant gold prospects have also been identified. Midas Pond has 14.7 g/t gold over 1.15m channel; Eagle has grab samples from 10 g/t gold to 60 g/t gold. Midas Pond was studied by Evans and Wilton, 2000 as described in the CIM Exploration and Mining Geology published paper. See the link to this research paper below.

Future Work Programs:

Continued drilling of the Hurricane target area is planned.
Work including sampling historic drill holes (completed) - plus relogging and interpretation of geological sections is in progress for the Tulks East B Zone, leading to a NI43-101 compliant mineral resource estimate for the Tulks East B Zone if warranted.

MAPS & PHOTOS

Hurricane Drilling December 2010
274 KB, approx. 52 seconds at 56.6Kbps

Tulks South Geology
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Boomerang Vertical Longitudinal Map
1288 KB, approx. 4 minutes, 1 second at 56.6Kbps

Overview Mineral Resources

Glitter

Long Lake Skidder Victoria York Harbour Haven Steady Daniels Harbour

click to view property overview



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