| Mr. Alan Matthews, President of Kernow Resources & Developments Ltd. is pleased to advise that
Kernow has filed on SEDAR (www.sedar.com) the report entitled “A Report on the Mineral Assets of
the Gralheira Gold-Silver property, Portugal” dated January 15, 2008 and prepared by Wardell
Armstrong International Ltd. (WAI) of Cornwall, U.K. The report contains an estimate of the gold and
silver resources identified by Kernow (49%) and its joint venture partner, St. Elias Mines Ltd. (51%), at
the Gralheira gold-silver project in Portugal. The details of the resources were announced in Kernow’s
news release dated January 18, 2008.
Kernow has also filed on SEDAR two reports incorporated by reference in the WAI report and previously
filed by St. Elias (but not Kernow) on SEDAR, namely “Observations and Exploration Update on the
Gralheira Gold Deposit, Northern Portugal” dated February 28, 2004, and “Report on Exploration in
2004, Jales/Gralheira Gold Property, Northern Portugal” dated June 20, 2005. Both reports were
prepared by John A. Brophy, P.Geol. of Lima, Peru.
The Jales-Gralheira Gold property is located in Northern Portugal and is located some 125 kilometres
northeast of the city of Porto. The property covers an area of approximately 5.2 square kilometres. Title to
the property is held by way of an Experimental Mining Licence granted to Kernow Mining Portugal Soc.
Unip. Lda. in May of 2007. The Licence is valid for three years from the date of grant. |
