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WRA Windarra Minerals Ltd.

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Share Name Share Symbol Market Type
Windarra Minerals Ltd. TSXV:WRA TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Windarra Acquires Mishi Leases and Royalty to Expand Ontario Properties

03/01/2008 1:10pm

Marketwired Canada


Windarra Minerals Ltd. (the "Company") (TSX VENTURE:WRA) has entered into an
agreement to acquire a 100% interest in two mining leases, as well as a royalty
in respect to ore mined and milled from a third crown mining lease from Messina
Minerals Inc. ("Messina" as to 60%) and MacMillan Gold Corp. ("MacMillan" as to
40%). The mining leases are located in the Sault Ste. Marie Mining Division of
Ontario near Wesdome Gold Mines' Mishi Pit. The royalty interest acquired from
Messina and MacMillan provides for payment of $1.00/tonne for ore from open pit
mining and $2.00/tonne for underground mining in excess of 700,000 tonnes mined
and is payable to the Company by Wesdome.


In consideration for this acquisition the Company will issue an aggregate of
400,000 common shares of its capital stock to Messina and MacMillan, subject to
regulatory approval.


The Company's objective is to consolidate these properties, along with its
existing gold exploration holdings, into one larger package in the
Magnacon-Mishi area (see reference location map at website: www.windarra.com).


Windarra holds a 100% interest in the Pukaskwa gold property, also located in
the Sault Ste. Marie Mining Division of Ontario, and has completed an initial
phase of diamond drilling on part of the West Aardvark grid known as the Middle
Finger Lake zone. All fourteen holes in the 824 metre program intersected the
mineralized zone, and nine of the fourteen holes intersected significant
mineralization, with the first five holes averaging 6.53 g/t (0.191 oz/t) gold
over 3.87 metres (see News Release dated July 26, 2007). The program has tested
only a very limited portion of the anomalies, which have been traced
continuously from the area of trenching and drilling for nearly a kilometer
along strike. Windarra plans to further drill-test the Middle Finger Lake and
the Bonanza-Grade zone, which has not yet been drilled, as well as other targets
on the property.


The Pukaskwa property is located 50 kilometres west of Wawa, Ontario,
approximately 15 km north of Wesdome's currently-producing Eagle River Mine. The
property, which consists of a belt of 55 contiguous unpatented mining claims
spanning a length of over 13 km, also lies 20 km southwest of the
formerly-producing Magnacon mine, in which Windarra holds an interest. Like the
Pukaskwa property, the Magnacon properties lie along the highly prospective
Mishibishu gold belt.


On behalf of the Board of Windarra Minerals Ltd.

John Pallot, President

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1 Year Windarra Minerals Ltd. Chart

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1 Month Windarra Minerals Ltd. Chart