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Stellar Pacific Ventures Inc (2)
Symbol SPX
Shares Issued 96,832,019
Close 2011-05-31 C$ 0.095
Market Cap C$ 9,199,042
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Stellar Pacific drills 47 m of 1.64 g/t Au at Solomoto

2011-06-01 10:12 ET - News Release

Mr. Maurice Giroux reports

STELLAR PACIFIC VENTURES DRILLS 47 METERS OF 1.64 G/T GOLD ON ZONE B-1, AT THE SOLOTOMO DISCOVERY, GUINEA WEST AFRICA

Stellar Pacific Ventures Inc. has released more drill results on extensive B-1 and B-3 zones on the Solotomo gold discovery located in the centre of the company's 735-square-kilometre Balandougou project in Guinea, West Africa.

Hole No. B1-12, after compiling all results, returned an intersection of 1.64 grams per tonne gold over a length of 47 metres. This intersection includes 3.26 grams per tonne gold over 15 metres and 2.48 grams per tonne gold over 25 metres. The gold mineralization of this zone, as observed in trench CQ-1, is contained in a wide shear zone injected with metric quartz veins and quarts veinlets also mineralized, which explains the width of the intersection. The metric size quartz veins as observed and sampled in trench CQ-1 are high grades and returned values as 24.3 grams per tonne gold.

Also in zone B-3, hole No. B3-33 intersects 19 metres of 2.30 grams per tonne gold from the surface down to 19 metres deep. The intersection includes six metres of 5.69 grams per tonne gold and nine metres of 4.52 grams per tonne gold. Hole No. B3-27 intersects 10 metres at two grams per tonne gold including four metres of 4.24 grams per tonne gold.

The B-3 gold structure have now been drill tested over a distance of 700 metres and remains open in all directions.

Maurice Giroux, president and chief executive officer of the company, and a qualified person as defined in NI 43-101 regulation, quoted: "Off the current drill program, there are about 20 per cent of results still to come out of SGS Siguiri laboratory. The company will keep informing shareholders on the upcoming results as they are available and will wait until receiving all results to compile and conclude on the current program. At this point, we are very happy with the drill results obtained on anomalies B-3 and B-1 which both show wide and extensive gold-mineralized zones. To date, we have only investigated on the oxide part of those structures and a core drilling program will be envisage at short term to confirm the structure at depth. With the positive drill results of the Solotomo artisan diggings site announced on April 19, 2011, zones B-1and B-3, we have now three potential gold zones in a 2.5-kilometre environment."

Anomalies B1 to B4 represents a large gold system located just east of the Solotomo artisan mine site and are part of a system of northwest/southeast and northeast/southwest structures. Geological observation from trenches suggest that the gold mineralization on the Solotomo discovery occurs in quartz-carbonate veins hosted within a well-preserved and very deformed Sericite schist trending northwest and dipping to the east. One form of disseminated alteration most commonly noted in oxidized rocks is quartz-sericite-pyrite (QSP) alteration. This alteration type is not distinctly different in coloration in fresh core and is thus difficult to detect in that state. Surface weathering converts the sericite to white kaolinite, creating a bright white colour alteration distinguishable even at great distance when exposed in trenches, artisan diggings and drill pads. This kind of alteration is evident in the proximity of the Solotomo artisan pits and the white kaolinite is visible from great distance.

About the Balandougou property

The Balandougou property is located 100 kilometres to the north of Siguiri in Upper Guinea, close to the Mali border. It is composed of four contiguous permits covering an extensive area of 606 square kilometres in Guinea and of the Namarana permit covering 132 square kilometres adjacent and across the boarder on Mali side.

The technical content of this press release has been reviewed and approved by Mr. Giroux, a qualified person as defined in NI 43-101 regulation.

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