Crazy Horse Resources Inc.: Taysan Project Resource Estimate Increases to 459 Million Tonnes in the Measured and Indicated Ca...

Crazy Horse Resources Inc. (TSX VENTURE:CZH)(OTCQX:CRZHF) - 

Highlights



--  Updated resource estimate for the Taysan Project comprises 459
    million tonnes (Mt) in the Measured and Indicated categories, at a
    0.1% copper cut-off grade. This revised Measured and Indicated
    resource now allows for a longer mine life (24 years compared to 15
    years previously) based on recently updated pit optimisations.
--  Based on Measured and Indicated resources, contained copper
    increases 7% to 2,579 Mlbs; contained gold increases 15% to 1.46 Moz
    ounces; contained silver increases 1% to 12.34 Moz; and contained
    magnetite increases by 11% to 14.89 Mt.
--  Pre-feasibility study to be completed in April 2012. 
--  With 302 drill holes for 82,594 meters of core drilling, the Taysan
    Project has been sufficiently drilled for defining a compliant
    bankable feasibility study based on the 15 Mtpa mining operation
    currently planned.



Crazy Horse Resources Inc. (the "Company") is pleased to announce that an
updated resource statement prepared by Mining Associates Pty. Ltd. of Brisbane,
the Company's geological consultant, for its 100%-held Taysan Copper-Gold
Project on Luzon Island in the Philippines defines:




--  a Measured resource of 156 Mt at an average copper grade of 0.31% for
    1,077 Mlbs of contained copper; 
--  an Indicated resource of 303 Mt at an average copper grade of 0.23% for
    1,502 Mlbs of contained copper; and 
--  an Inferred resource of 509 Mt at an average copper grade of 0.18% for
    2,065 Mlbs of contained copper.



The 459 Mt contained copper resource in the Measured and Indicated resource
categories represents a significant upgrade from the 411 Mt announced on October
14, 2011 and contained in a NI43-101 report dated October 10, 2011, entitled
"Update of the Mineral Resource Estimate and Preliminary Economic Assessment for
the Taysan Project", prepared by Mining Associates Pty. Ltd and AMEC Minproc
Limited of Brisbane, which can be viewed under the Company's profile at
www.SEDAR.com. 


The following table summarizes the resource estimate at the 0.1% cut-off grade
used, including the estimates for gold, silver and magnetite:




----------------------------------------------------------------------------
              Table 1: Mineral Resource Estimate February 2012              
----------------------------------------------------------------------------
Resource                                                                    
 (0.1% Copper      M       M lbs               Magnetite M oz M oz        Mt
 Cut off)     tonnes Cu %     Cu Au g/t Ag g/t         %   Au   Ag Magnetite
----------------------------------------------------------------------------
Measured         156 0.31  1,077   0.12    1.2       3.3 0.61 5.80      5.20
----------------------------------------------------------------------------
Indicated        303 0.23  1,502   0.09    0.7       3.2 0.85 6.54      9.69
----------------------------------------------------------------------------
Inferred         509 0.18  2,065   0.08    0.5       2.7 1.24 7.81     13.59
----------------------------------------------------------------------------



Mitch Alland, Chairman and CEO of Crazy Horse states:  "We are excited about the
resource estimate, as the near surface, high grade zones of Measured resource,
together with the major increase in magnetite recovery prospects announced last
month further strengthen the project in terms of increased profitability and
reduced operational risk. In addition, a revised pit optimisation has increased
the mine life from 15 to 24 years, with possibility of a further increase to
over 40 years on the basis of the extensive Inferred resource. The increase in
mine life will be attractive to the local community in terms of continuing
future employment and by potential trade buyers or joint venture partners that
are looking for a long-term source of copper concentrate. Once the
pre-feasibility study is issued in April, the Company shall embark on an
aggressive campaign to pursue a trade sale or joint venture with a view to
maximising the return to the shareholders."


The Company's drilling program, conducted during 2010-2011 at the Taysan
Project, has focused on the central portion of the ore body in order to develop
confidence in a suitably large copper resource amenable to open pit mining. With
a total of 82,594 meters for 302 holes, the Taysan Project has now been drilled
sufficiently for purposes of undertaking a Bankable Feasibility Study, (as
opposed to a Pre-Feasibility Study), based on a 15 Mtpa operation. The current
updated resource estimate is based on assays of 48 additional drill holes for
15,912.9 m, completed in October 2011. The final geological and domain wireframe
models used to determine the updated resource estimates were based on all the
Taysan data to December 2011. A NI43-101 Report will be completed and submitted
by Mining Associates Pty. Ltd. within 45 days from this news announcement and
will be available for viewing under the Company's profile at www.SEDAR.com.


A comparison of the contained metal in this new resource estimate with that of
the previous estimate, indicates increases in all contained metals in the
Measured and Indicated categories as follows: Contained copper metal has
increased 169 Mlbs, gold has increased by 0.19 Mozs; silver has increased by
0.15 Mozs; and magnetite has increased by 1.49 Mt.




----------------------------------------------------------------------------
  Table 2 Taysan Resource Estimate Comparison greater than 0.1% Cu cut-off  
----------------------------------------------------------------------------
              February 2012     August 2011    February 2012     August 2011
----------------------------------------------------------------------------
            459 Mt Measured &         411Mt                            542Mt
                Indicated         Indicated   509 Mt Inferred       Inferred
----------------------------------------------------------------------------
                      CONTAINED   CONTAINED            CONTAINED   CONTAINED
              GRADE       METAL       METAL    GRADE       METAL       METAL
----------------------------------------------------------------------------
Copper        0.27%  2,579 Mlbs  2,410 Mlbs    0.18%  2,065 Mlbs  2,190 Mlbs
----------------------------------------------------------------------------
Gold       0.10 g/t   1.46 Mozs   1.27 Mozs 0.08 g/t   1.24 Mozs   1.24 Mozs
----------------------------------------------------------------------------
Silver     0.92 g/t  12.34 Mozs  12.19 Mozs 0.50 g/t   7.81 Mozs   8.24 Mozs
----------------------------------------------------------------------------
Magnetite     3.30%    14.89 Mt     13.4 Mt    2.70%    13.59 Mt     15.4 Mt
----------------------------------------------------------------------------



The following cross section (section 19500N) through the resource model (Figure
1) indicates that Measured and Indicated category resources virtually fill the
entire 24-year pit shell, thereby providing minimum risk in resource
exploitation during the early years of mining. Recent Whittle optimisation
studies by IMC Mining Group of Brisbane on the basis of the new resource
estimate provide a final pit shell (excluding Inferred Resources) that carries a
24-year mine life. The Inferred resource immediately below the Measured and
Indicated resources provides significant potential to increase the Measured and
Indicated resources at depth, thereby offering the prospects of increased
tonnages for future mining beyond the currently defined 24 year pit to possibly
greater than 40 years of mine life.


To view Figure 1, click on the following link:
http://media3.marketwire.com/docs/czh228m.pdf


The following resource model cross section on line 19500N (Figure 2) displays
the copper grades throughout the resource and highlights the high grade nature
of the deposit near surface, which will enhance the profitability of the early
years of operation. The gold and silver grades have a similar distribution with
the higher grades also occurring near the surface, while magnetite grades are
generally more widely spread and display a more pervasive mineralising event.


To view Figure 2, click on the following link:
http://media3.marketwire.com/docs/czh228m2.pdf


Sampling Protocols for Drill Core Sampling

All drilling has been carried out by Quest Exploration Drilling (Philippines)
Inc. using Edson 3000 and LF70 drill rigs and a triple tube diamond core
drilling system. All holes are started in PQ (150-200m) then continued in HQ.
All core is split using a diamond-bladed drill-core saw and always sampled from
the left side of the core. The remaining half of the core is sealed in plastic
bags in a nitrogen atmosphere and stored in a covered, guarded core shed. Core
samples are bagged in new polyethylene, UV stable plastic bags, sealed with a
plastic tie, numbered outside and have a tag placed inside the bag. All samples
are accompanied by Asian Arc personnel from site to the McPhar Laboratory under
secure "Chain of Custody" procedures. Samples are crushed to 85% less than 2mm
then 1kg is split out and pulverised in an LM2 Puck and Bowl Pulveriser to 90%
less than 75um. Gold is assayed by Fire Assay (50g charge) with AAS finish
(PM6). Cu, Ag, As, Pb, Zn, Mo, Al, Ca, Fe, K and S are assayed by 3 Acid Digest
(HCl / HNO3 / HClO4) Ore grade analysis with ICP-AES finish (ICP-3). Sample
rejects are returned from the McPhar Laboratory under secure "Chain of Custody"
procedures by Asian Arc staff and also stored in the core shed in heat sealed
plastic bags in a nitrogen atmosphere. McPhar Geoservices (Phil), Inc. is ISO
17025:2005 accredited and is a member of the International Intertek Laboratory
Group.


Qualified Person

The information in this portion of the press release and the technical report
relating to mineral resource estimates are based on information compiled under
the direction of Ian Taylor. Ian Taylor is a consultant geologist and Certified
Professional (AusIMM(CP)) holding a B.Sc (Hons) with specialist experience in
resource evaluation in porphyry copper projects. Mr. Taylor is a Qualified
Person ("QP") as defined in the "Canadian Institute of Mining, Metallurgy and
Petroleum, CIM standards on Mineral Resources and Reserves' and NI 43-101. Mr.
Taylor and Mining Associates Pty. Ltd. have reviewed this press release and
consent to the inclusion in the press release of the matters based on this
information in the form and context in which this information appears.


For exploration work, Brian Lueck P.Geo, the COO and a director of the Company,
is the appointed QP. 


Taysan Project

The Taysan Project contains a drill defined copper-gold porphyry deposit, and is
comprised of two mining exploration permits and three mining exploration permit
applications (permits: EP-IVA-005 and EP-IVA-016, and permit applications:
EPA-IVI-108, EPA-IVI-111 and EPA-IVA-081) over five contiguous claim blocks
covering a combined total area of 11,254 hectares. The Project hosts a large and
only partly explored copper-gold porphyry deposit similar to other copper-gold
porphyry deposits previously mined in the Philippines. The Taysan Project is
located in southern Luzon, Philippines in a well-developed mining province and
readily accessible by road located 20km east of the provincial capital and
deep-water commercial port of Batangas City. The Company is currently conducting
a pre-feasibility study under the management of AMEC Minproc Limited. 




Glossary 
lb = pound(s) 
Mtpa = million tonnes per annum 
oz = ounce(s) 
tpa = tonnes per annum



ON BEHALF OF THE BOARD

MITCH ALLAND, President and C.E.O.

This press release includes "forward-looking statements" including forecasts,
estimates, expectations and objectives for future operations that are subject to
a number of assumptions, risks and uncertainties, many of which are beyond the
control of Crazy Horse Resources Inc. (the "Company"). Statements regarding the
completion of a pre-feasibility study by April 2012 and the completion of a
bankable feasibility study and the accuracy thereof are subject to a number of
risks outside of the control of the Company, including, but not limited to, the
ability of service providers to complete feasibility study work accurately, on
time and on budget; the Company's ability to fund a bankable feasibility study;
and changes in the economic climate that may change the bankability of the
Taysan Project. Investors are cautioned that any such statements are not
guarantees of future performance and that actual results or developments may
differ materially from those projected in the forward-looking statements. Such
forward-looking information represents management's best judgment based on
information currently available. No forward-looking statement can be guaranteed
and actual future results may vary materially. The Company does not assume the
obligation to update any forward-looking statement, except as required by
applicable law.