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Exploring Today's Gold Stocks: Week of May 4, 2008

Exeter Resources Reports 719 Meters Grading 0.90 g/t Gold

By Gold World Staff
Monday, May 5th, 2008

New and Ongoing Exploration Programs

Goldstake Explorations Inc. • TSX: GXP
Share Price: C$0.10

Two drill rigs have been mobilized on Goldstake's Transpacific's gold and diamond project situated 1 mile from the Kerr Addison Mine in the prolific Cadillac-Larder Break. Six drill holes have now been completed on the company's 75% earn-in Clay property. Visible native gold has been observed in two of the four holes logged to date. The two drill holes containing visible gold targeted a 2005 drill hole intersection that assayed 33 grams/tonne (g/t) gold over 8.5 meters, which included an interval assaying 1,078 g/t gold across 0.2 meters. The current 4,000-meter drill program is systematically testing the Instant Pond gold/copper/silver zone at 50 meter intervals, which is close enough to result in 43-101 measured and indicated resources. Mineralization has been traced in multiple zones by previous drilling in an area measuring 450 meters in strike and 300 meters in width. The extent of the mineralization remains open in all dimensions.

Ireland Inc. • OTCBB: IRLD
Share Price: US$1.37

Ireland Inc. has received approval from the U.S. Bureau of Land Management to conduct a 28-hole drill program on the company's 100%-owned Columbus project in Nevada. These holes will be drilled to depths ranging from 150 feet to 400 feet in depth to determine the three-dimensional extent and economic potential of the gold mineralization within the approximate 5,000-acre gold anomaly previously discovered by the company's surface sampling program.

Minco Gold Corp. • AMEX: MGH, TSX: MMM
Share Price: US$1.16/C$1.18

Minco Gold reported that a comprehensive exploration program has begun on the Changkeng Gold project located in Guangdong Province, China. The program is comprised of 15,000 meters of diamond core drilling, preliminary metallurgical testing, and a hydrological and geotechnical assessment on the project. Following the completion of the drill program, an updated resource estimate will be prepared and an exploration report will be generated for permitting purposes. These completed studies will serve as the basis for an independent Preliminary Economic Assessment on the project. To date, a total of 81 drill holes have defined a minimum strike length of over 650 meters with drilling conducted on approximate 40-metrers ection spacing and holes on section between 20 meters to 80 meters apart. On March 12, 2008, the company released a NI 43-101 compliant resource estimate which contains an indicated resource of 2.1 million tonnes grading 5.61 g/t gold for a total of 379,000 ounces of and an inferred resource of 2.2 million tonnes grading 4.82 g/t gold for a total of 333,400 ounces of gold. The study also identified areas where inferred resources can be upgraded to indicated and the overall deposit can be expanded.

East Asia Minerals Corp. • TSX-V: EAS
Share Price: C$1.50

Recent sampling at the East Asia's 70% joint-ventured Sangihe property has encountered high grade gold at the Sedi prospect with grabs assaying 13.4 g/t, 15.0 g/t and 42.6 g/t gold at Zone One, and 7.78 g/t, 11.2 g/t and 16.0 g/t gold at Zone Two. Grab sampling were additionally acquired at the second Kupa prospect to the southeast. These samples encountered 122.0 g/t, 82.4 g/t and 73.8 g/t gold. Mapping, backhoe excavation and induced polarization are in progress at the Sedi Prospect in preparation for upcoming drill testing.


New Drill Results

Exeter Resource Corp. • AMEX: XRA, TSX: XRC
Share Price: US$4.34/C$4.39

Caspiche project, Chile

Drilhole ID Number Intersection
Gold Grade Copper Grade
Value
Working Comparative Value
CSD-016
718.75 meters 1.0 g/t
0.38%US$60.42/tonne
43,427


Gold Reach Resources Ltd. • TSX-V: GRH
Share Price: C$0.06

Seel property, Canada

Drilhole ID Number Intersection
Gold Grade Copper Grade
Value Working Comparative Value
S08-6157.50 meters 0.077 g/t
0.667%
US$59.06/tonne
3,396
S08-66
67.50 meters0.041 g/t 0.40%
US$35.28/tonne
2,381


Argo Exploration Ltd. • ASX: AXT
Share Price: A$0.19

Tapley Hill formation, Intercept Hill project, Australia

Drilhole ID Number Intersection
Gold Grade Copper GradeValue Working Comparative Value
IHAD 5118.00 meters 0.17 g/t
0.27%US$27.80/tonne
3,280
and
54.00 meters0.05 g/t 0.60%US$52.59/tonne
2,840


Farallon Resources Ltd. • TSX: FAN, OTCBB: FRLLE
Share Price: C$0.74/US$0.66

G-9 deposit, Campo Morado property, Mexico

Drilhole ID Number Intersection
Gold Grade Copper Grade Value* Working Comparative Value*
709
12.00 meters 3.75 g/t
2.39%
US$1,015.08/tonne 12,181
713
14.00 meters3.32 g/t 1.61% US$605.19/tonne 8,473
719
37.10 meters3.83 g/t 1.55% US$597.36/tonne
22,162
* added value with silver, lead, and zinc credits


Philex Gold Inc. TSX-V: PGI
Share Price: C$0.55

Bayugo project, Philippines

Drilhole ID Number Intersection
Gold Grade Copper Grade
Value Working Comparative Value
TSD-123
1,366 meters 0.34 g/t
0.29%
US$36.26
49,531
TSD-124
701 meters0.58 g/t 0.59%
US$66.57
46,666
JSD-28
277 meters0.55 g/t 1.04%
US$76.05
21,066
TSD-127
221 meters0.24 g/t 0.38%
US$39.14
6,661


Tirex Resources Ltd. TSX-V: TXX
Share Price: C$2.71

Mirdita project, Albania

Drilhole ID Number Intersection
Gold Grade Copper Grade
Value* Working Comparative Vaue*
MR08-02
60.4 meters1.6 g/t 1.1%
US$295.47
17,846
MR08-03
12.9 meters1.7 g/t 0.5%
US$224.55
6,661
* added value with silver, lead, and zinc credits


Note on working comparative values used above: These values to not account for geopolitical or metalurgical risks, nor can they be used to determine economical feasabilty of a given project. These values stand to only compare the worth of metals contained in each drill core.


Did we miss a new exploration program or set of drill results that you think are noteworthy? Tell us by making a comment below.


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Comments:

Comment by Glenn Lidstone on 2008-05-06
Good article!
I own or have owned many on your list.

The one you are missing though is...Paramount Gold and Silver.

I believe that this one will be very, very big.

If I had to add one more, it would be Geovic Mining.

Glenn

Comment by Peter on 2008-05-06
See also below TSX companies with great futures;

CCU, RML, VEM, SVW, SVU

Additional; OYL, EXX

Comment by Steven Schultz on 2008-05-06
FMNJ has had several important announcements in both silver, gold, LNG, etc. Please add them to your announcment list. Thanks !
Simple investor who appreciates your report !!!

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