Baltic Resources Inc. (TSX VENTURE: BLR) (the "Company") is pleased to announce that the Company is conducting a geophysical survey over the central part of the Company's Hawkins property (the "Hawkins Project"). The Company has contracted Vision Exploration (independent of the Company) of Timmins, Ontario to conduct 60 km of induced polarization and ground magnetics in an effort to define the western extension of the gold horizon indicated in the former drilling of the eastern part of the property. Future diamond drilling, surface stripping and channel sampling will be determined by the interpretation of the survey results. The Company's goal for the Hawkins Project is to discover a large tonnage gold deposit that would be accessible to open pit mining.
Additional information with respect to the Hawkins Project is contained in the technical report dated August 17, 2004, relating to the Hawkins Project entitled "Technical Report on the Don McKinnon Property for Baltic Resources Inc., Hawkins Township, Sault Ste. Marie Mining Division, Ontario" (the "Hawkins Technical Report"). A copy of the Hawkins Technical Report may be obtained from SEDAR at www.sedar.com.
This press release has been prepared under the supervision of Mr. John Boissoneault (P. Eng.), who is an independent consultant to the Company and a "qualified person" as such term is defined in National Instrument 43-101.
This press release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to mineral resources, potential mineralization, exploration results and the Company's plans with respect to the exploration and development of the Hawkins) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in commodity prices, changes in equity markets, failure to establish mineral resources, changes to regulations affecting the Company's activities, delays in obtaining or failures to obtain required regulatory approvals, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting drilling results and other ecological data, and the other risks involved in the mineral exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.
Contacts: Baltic Resources Inc. Don McKinnon President (705) 268-9000 (705) 268-5532 (FAX)
SOURCE: Baltic Resources Inc.