Landore Resources Limited Regulatory News (LND)

1 May 2007 07:01

Landore Resources Limited01 May 2007 LANDORE RESOURCES LIMITED (AIM Ticker: LND.L) PROGRESS REPORT JUNIOR LAKE-NICKEL PROJECT Highlights: • A 13,000 metre drilling programme has commenced on the Junior Lake, VW Zone nickel project, with one drill dedicated to extending the existing inferred resource at both ends along strike and down dip with a second drill carrying out infill drilling to advance the resource to 'Indicated' status. • A Memorandum of Understanding (MOU) has been signed between Landore, Whitesand First Nation and Animbiigoo Zaagi'igan Anishinaabek (First Nations) formalizing a process to establish and maintain a positive, mutually beneficial, relationship amongst all parties regarding exploration and advanced exploration activities on the Junior Lake Nickel Project. • Golder Associates commenced Baseline Aquatic Studies on the lakes and drainage tributaries in the vicinity of the Junior Lake projects with the first round of quarterly sampling completed late February. Junior Lake: The Junior Lake properties are located in the province of Ontario, approximately235 kilometres north-northeast of Thunder Bay and are situated within theCaribou-O-Sullivan Greenstone Belt in the Wabigoon Subprovince. VW Zone Nickel Project: The VW zone is located at Ketchikan Lake toward the south eastern end of theJunior Lake property. Diamond drilling resumed on the VW Zone mid-April with 2 drills. A campaign of60 holes for approximately 13,000 metres is underway, with one drill dedicatedto extending the existing inferred resource both ends along strike and down dipand the second drill carrying out infill drilling to advance the resource to'Indicated' status, a requirement for scoping and or pre-feasibility studies. Drill holes, primarily targeting the Katrina Horizon on which previous drillingreported a number of +1% nickel grades, are being positioned on lines spaced 25metres apart. Additional drilling is also planned for further metallurgicalstudies as well as geotechnical testing. Six holes for a total of 1,168 metres have been completed since this campaignbegan and 2 holes are in progress. Sulphide mineralization correlating with themain horizons is reported in all holes drilled to date and the first sampleshave been submitted to the lab for assay. Results are pending. Memorandum of Understanding (MOU): Landore Resources Canada Inc. has entered into an MOU with the First Nationswith respect to the Junior Lake area properties. These two First Nations arewithin the Robinson-Superior Treaty Area where both maintain overlappingtraditional territories in the area north of Lake Nipigon which includes theJunior Lake area properties. This agreement formalizes the desire and commitment to develop a positive,mutually beneficial relationship amongst all parties and establishes the processby which this is to be accomplished while Landore is conducting exploration andadvanced exploration activities in the area. Landore recognizes and respects theAboriginal and Treaty rights of the First Nations and the communitiesrepresented by the Chiefs of the First Nations support the exploration andadvanced exploration activities of Landore. Included in the MOU is a provision to finalize an Impact and Benefits Agreementshould exploration results lead to completion of a positive Feasibility Studyand before commencement of any mine development. Mining Claim to Lease Before mining can take place on a mining claim the claim must be leased underthe terms of the Ontario Mining Act. Procedures necessary to bring claimssurrounding the Junior Lake area, VW zone nickel deposit B4-7 nickel-copper- PGEdeposit, to lease are currently progressing. This effort to lease the claims inthe anticipation of potential mine development is supported by the First Nationswithin the provisions of the MOU. Baseline Aquatic Studies: Golder Associates commenced Baseline Aquatic Studies on the lakes and drainagetributaries in the vicinity of the Junior Lake projects with the first round ofquarterly sampling completed late February. Results of this sampling arepending. The purpose of the monitoring program is to provide baseline water and sedimentquality information that will be used as supporting documentation for permitapplication submissions to regulatory agencies as potential mine developmentactivities progress. The next round of water quality and sediment sampling is scheduled during May,2007. Additional environmental field work related to assessing terrestrial andaquatic site conditions is also planned for 2007. James Garber, (BSc. Hons. Geology, member of APGO) a Director of LandoreResources Ltd and a qualified person as defined in the Canadian NationalInstrument 43-101, has reviewed and verified all scientific or technical miningdisclosure contained in this announcement, which is stated in accordance withthe Canadian Institute of Mining Metallurgy and Petroleum. - ENDS - For more information please contact: Bill Humphries, Chairman Tel: 07734 681262 Richard Prickett, Chief Executive Tel: 07775 651421 Landore Resources Limited www.landore.com Simon Raggett Tel: 020 7409 3494 Strand Partners Limited David Bick Tel: 07831 381201 Holborn Public Relations Limited This information is provided by RNS The company news service from the London Stock Exchange