First Phase Drilling Program Completed At Taviche Project

TORONTO - Intrepid Mines Limited and Aura Silver Resources Inc. reported results of the first phase drilling program at the Taviche Project in Oaxaca, Mexico.
Intrepid and Aura Silver are jointly exploring the Taviche Property, located 10 kilometers south of Ocotlan in the San Jose Mining District. This district has a rich mining history, with more than 60 recorded underground mines. The Taviche Property comprises two concessions totaling 13,724 hectares. Intrepid and Aura hold an option to earn a 70% interest in the Taviche Property from Plata Panamericana S.A. de C.V., a wholly owned subsidiary of Pan American Silver Corp.
In the fourth quarter of 2007, a drilling program was initiated to test the depth potential at three historic silver/gold mines: El Portillo, La Noria and San Martin. Twenty-two core holes were completed in the three prospects for a total of 4,090 meters.
"Drilling intersected wide intervals, up to 100 meters of strongly altered volcanic rocks containing discrete zones of quartz stockwork and microbreccias with anomalous gold, silver and base metals. Textural evidence suggests each of the target zones are high within the hydrothermal system and that deeper drilling (200-400 meters vertical) will be required to test for the existence of higher grade veins," said Laurence Curtis, President and CEO of Intrepid. "Values up to 23.6 grams per tonne gold, observed in EP03-08 and 234 grams per tonne silver in the deeper part of Hole EP06-08 speak to the prospect's future. The silver intercept in EP06-08 is encouraging, as it represents part of a vein that has not been explored for several kilometers leading into the recent discoveries by the Fortuna/Continuum Joint Venture."
The company's address is 341 Main Street North, Suite 206, Brampton, ON L6X 3C7, 905.456.5436, fax: 905.456.7180, email: [email protected].