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New Island Resources Inc.: New Island Reports On Labrador Licences

^{Published on 2009-04-09 10:42:16, Last Modified on 2009-04-09 10:42:55 - Market Wire}
 

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - April 9, 2009) - New Island Resources Inc. (New Island)(TSX VENTURE:NIS) of St. John's, NL reports that a 4158 line-kilometers, helicopter-borne AeroTEM II time-domain electromagnetic survey, a high-sensitivity cesium vapour magnetometer and a gamma ray spectrometer (AGRS) survey was carried out over all seventeen of its Labrador licences by Aeroquest Ltd. in late summer 2008. Ground follow-up and a review of the available geological, geophysical and geochemical data for the licences have taken place. This included an appraisal to determine the mineral potential of the licences for unconformity-hosted uranium, sedimentary exhalative (SEDEX) lead-zinc, carbonate-hosted base metals, banded iron formation (BIF)-hosted gold, intrusion-hosted magmatic Ni-Cu-PGEs.

This evaluation has resulted in the consolidation of New Island's land position in Labrador with a resultant reduction to seven licences totaling 291 claims. Several drill targets were identified for both sediment-hosted lead-zinc and magmatic nickel-copper-PGE, and it was also recommended that ground geophysics be carried out in areas to better define the drill targets.

This evaluation was undertaken on behalf of New Island by Aurum Exploration Services, Kells Business Park, Kells, Co. Meath, Republic of Ireland; GeoServices Consulting and SJP GeoConsulting of St. John's, NL, Canada.

All government regulatory requirements have been met and the relevant reports submitted. Further activity will be determined by market conditions and the potential for Joint Ventures.

This news release has been reviewed and approved by Mr. Baxter Kean, MSc., P.Geo., a Qualified Person.

Statements contained in this release that are not historical facts are forward-looking statements, which involve known and unknown risks and uncertainties not under the company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or expectations implied by these forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release