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September 18, 2014 --- Vol. 08, No. 38September 2014

Northwest Territories

DIAMONDS – Kennady Diamonds Inc. Sept. 15 reported that drill hole KDI-14-055 has intersected 215 meters of kimberlite, from a downhole depth of 157.5 meters to 373 meters, at the Kelvin kimberlite. Kennady Diamonds CEO Patrick Evans said, "We are very pleased with the results of delineation drilling at the north end of the elongated Kelvin kimberlite, which continue to exceed expectations. A fan of three drill holes at minus 90 degrees, minus 80 degrees and minus 65 degrees has successfully delineated the Kelvin kimberlite to the north well beyond the current geological model. Preparations are now underway for the drilling of a fan of three further delineation holes to continue tracking Kelvin to the north.” Drilling of delineation hole KDI-14-055 was temporarily stopped in kimberlite at a downhole depth of 373 meters due to unstable ground conditions in an area above the kimberlite at approximately 145 meters downhole. The drill contractors are assessing options to stabilize the ground so that drilling can resume. In the interim, drilling of four diagonal delineation holes (two from west to east and two from east to west) across the far north end of the Kelvin kimberlite will commence shortly. These diagonal delineation holes will allow positioning of the next fan of three northerly delineation holes at the center of the Kelvin pipe. Providing an update on the bulk sample program, Kennady said approximately 22.5 metric of kimberlite has been recovered from Kelvin. This is in addition to the 25 metric tons recovered from Kelvin during last spring's drill program. The spring mini-bulk sample is currently being processing at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council. Results are expected early in the fourth quarter of 2014. The focus of current drilling remains on delineation, exploration and mini-bulk sample drilling at the Kelvin kimberlite. Drilling at the Faraday, MZ and Doyle kimberlites, in addition to approximately four new exploration targets, is also part of the current plan. In view of the continuing success of delineation drilling at the Kelvin kimberlite, however, Kennady said the drill plan may require modification.

GOLD – TerraX Minerals Inc. Sept. 15 said it has received assay results from nine holes (810.5 meters) drilled during a recently completed summer drill program on the Crestaurum deposit, one of numerous gold occurrences on the Northbelt property, Yellowknife City gold project. High-grade gold was intercepted near surface in several holes, with mineralized intersections encountered from as little as five meters to no more than 70 meters vertically below surface. Highlights include: 2.85 meters grading 33.60 grams per metric ton gold in hole TNB14-019; 3.07 meters grading 13.84 g/t gold in hole TNB14-015; and 5.10 meters grading 7.01 g/t gold in hole TNB14-022. Of the nine holes reported Sept. 15, four holes (TNB14-0015 to 018) were drilled into the South Shoot; two holes (TNB14-019 and 020) were drilled 1 kilometer (0.62 mile) north along strike in the North Shoot; one hole (TNB14-021) was drilled 125 meters further north along strike in the North Extension Shoot; and two holes (TNB14-022 and 023) were step-out holes drilled a further 65 meters north, intercepting high-grade gold mineralization and extending the strike length of the North Extension Shoot. During surface exploration in 2013 and 2014, sampling by TerraX has indicated that the Crestaurum shear extends up to 650 meters to the southwest and up to 2 kilometers to the northeast of the area of the historic Crestaurum deposit for an overall potential strike length of over 4 km. In addition, many new oblique and high angle gold veins were identified and sampled this summer near the main Crestaurum zone as well as the nearby (less than 1.5 kilometers or one mile) Barney structure that could be indicative of gold-bearing vein sets common to large mineralized systems.


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