Vancouver, BC, March 28, 2006 ─ Wildrose Resources Ltd. (TSX-V: WRS) reports that drilling by Fjordland Exploration Inc. continues at the Woodjam gold-copper project 80 kilometres northeast of Williams Lake, British Columbia. Diamond drilling was initiated at the Woodjam Property the last week of February and, since that time, four holes totaling 1,786 metres have been completed with assaying in progress. The objectives of the current program are to more precisely define the geometry of the Megabuck mineralization and confirm open directions for expansion. Management is confident that this is happening, and while assays are not yet available, a discussion about observations follows.
Mineralization at the Megabuck zone, which is one of two known zones of mineralization at the Woodjam Property, is of a porphyry copper style. Gold and copper mineralization are associated with a monzonite intrusive and adjacent feldspar porphyry volcanics. Of major importance to the project is the very high ratio of gold to copper, the latter occurring in the sulphide component that is almost exclusively chalcopyrite. Mineralization, grading approximately 0.20% copper is usually accompanied by approximately 1.00 gram per tonne (g/t) gold. Previous holes include 05-43 (drilled last November) which intersected 92 metres grading 1.00 g/t gold and 0.22% copper, hole 04-32 which intersected 275 metres grading 1.03 g/t gold and 0.14% copper and hole 04-37 (drilled perpendicular to 04-32) which intersected 233 metres grading 1.01 g/t gold and 0.14% copper. All intersections represent core sample length.
Field recognition of mineralized sections is based on the occurrence of potassium alteration manifested by pink feldspars and biotite and/or the presence of overprinting quartz stockworks. Two of the four holes of the current program have encountered identifiable mineralization of this character over core lengths up to 150 metres. These two holes effectively extend gold-copper mineralization approximately 120 metres south of previously tested limits with mineralization remaining open to the south.
Mineralization at Woodjam is modeled after Northgate Mineral Corporation’s (TSX: NGX) Kemess deposit in northern British Columbia and Newcrest Mining’s Cadia Hill deposit in Australia. Kemess commenced production in 1999 with a resource of 200 million tonnes grading 0.22% copper and 0.63 g/t gold while Cadia Hill commenced production in 1996 with a resource of 210 million tonnes grading 0.72 g/t gold and 0.18% copper. Located 10 kilometres from the village of Horsefly in the Cariboo region of BC, Woodjam is proximal to excellent logistics and infrastructure.
Although warm weather is causing breakup conditions to occur earlier than expected, management hopes to complete two more holes in the current campaign. Analytical results will be provided on the completion of the current program.
Fjordland Exploration Inc. holds an option to earn a 60% joint venture interest in the Woodjam project. Subject to a final property payment, budgeted expenditures in the current drill program are sufficient to exercise the option and enter into a joint venture with Fjordland (60% interest) as operator and Wildrose retaining a 40% participating interest. Bill Morton is the qualified person (as defined in NI 43-101) who has reviewed this news release.
President, Wildrose Resources Ltd.
Tel: (604) 681-7913/ Toll free (888) 656-6611
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. This news release may contain certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.