Journey Resources Low-Cost Strip Mining of High Grade Charay Gold-Silver Project and Imminent New Gold Resource Estimate Feature

Nov 06, 2009 (BAYSTREET NEWSWIRE via COMTEX) --
NGD | Quote | Chart | News | PowerRating -- Mining MarketWatch Journal has published review on Journey Resources Corp. (TSX VENTURE: JNY | Quote | Chart | News | PowerRating)(Frankfurt: JL4)(Pink Sheets: JNYRF | Quote | Chart | News | PowerRating) and interview with President and CEO of Journey. The review and interview offers insight and opportunity afforded investors as the Company is poised to take their 100% owned high grade Charay gold-silver deposit into low-cost strip mining operation. Additionally, a new gold resource estimate on Musgrove Creek is expected ~Q1 2010 and the Mining Journal projects at least a doubling of the current 313,822oz gold resource.

The full review, interview, and valuation commentary may be found at http://miningmarketwatch.net/jny.htm online.

Excerpts:

"Journey Resources Corp. (JNY.V) is poised for significant upside share price revaluation as two of their 100% owned gold projects are poised for major developments that will fundamentally change the inherent value of the Company. Journey Resources' Charay property is a high grade vein-hosted gold-silver project that posses a technical report that places the operation ready for immediate production. With blasting permits received, the company will be shifting key personal to the Charay property to take the first 35,000 tonnes of material that is essentially at surface. With an average grade of 18.75g/t. Mining MarketWatch believes an initial 24,000+ oz of gold will be mined at a cost of ~US$100/tonne. This scenario will cash flow the expansion of the property, which is open at strike and at depth; the deposit has only been drilled to 50m with every hole intersecting substantial mineralization and the highest grades being the deepest holes. Mineralization is mesothermal and later low sulphididation epithermal systems. The ongoing cash flow will enable advancement of all their projects without further dilution to the share structure and most importantly prove up their flagship Musgrove Creek Idaho gold project (currently with resources of 313,822oz gold) towards their 1Moz+ gold target. JNY.V appears undervalued with only ~70M shares outstanding and trading under CDN$0.10, a multiple upward revaluation appears readily in store."

Interview with Jack Bal, President & CEO of Journey Resources Corp.:

Q. 1 Mining MarketWatch: We understand logistics for low-cost strip mining of the high grade vein-hosted Charay gold-silver deposit are underway and it should not be too long before Journey is cash flowing -- what is the status of Journey becoming an operational mine at Charay?

Jack Bal, President & CEO Journey Resources: "We've been working on four fronts and come January we are aiming to be ready to start doing up a bulk sample; 1) we are currently moving the blasting permits over to us (from the underlying land owner); 2) we are actively negotiating with two mills in the area that are eager to accept our ore; 3) we've taken a 100kg sample of material from one of the shafts on Charay which we are in the process of sending to a metallurgist to do a baseline steady, 4) we are applying for a drill permit to drill 4 holes to tell us what the grades are below 50m and tell us how deep this deposit goes - our geologists tell us this is a mesothermal type deposit which can be quite deep."

Q. 2 Mining MarketWatch: The average grade at Charay is 18.75g/t and the highest grades are at the deepest holes -- this will provide exceptional revenue, what type of deal are you looking to strike with the mill? Can you give us a breakdown of anticipated mining costs?

Jack Bal, President & CEO Journey Resources: "Its strictly based on cost to mill a tonne - generally mining costs we're probably looking at $45 - $65 per tonne to mine a tonne of rock and milling costs are between $35 and $45 per tonne, transportation costs are ~$10/tonne using 60 tonne trucks. So it is around $100 - $120 (all-in) to process one tonne of material to get concentrate. We're negotiating with mining contractors that will mine between $40 and $60 per tonne at top end."

[Note: Journey Resources has received 5 offers in the last several month for joint venture on Charay, however management has felt it is in the best interest of shareholders to go it alone as the cost to make charay operational and cash-flowing for shareholders benefit is nominal plus the growth potential is very large; "The beauty of Charay is most of the hard work is done, we know we have a minimum amount of high grade material with increasing grade at depth, and no hole drilled below 50m is very geologically enticing. It is also a new discovery and the growth potential is enormous; there are no outcrops, it was discovered by chance, so there is no historical mining and there is a very good chance that there are many veins like this on the property because you usually get dozens of them following a major fault system. We are quite encouraged, we have already discovered a parallel vein to this that has never been tested yet."]

Q. 3 Mining MarketWatch: Mining MarketWatch Journal projects at least a doubling of the gold resource estimate for Journey's Musgrove Creek project when new numbers are calculated in Q1 2010 -- are we out of line in our expectation?

Jack Bal, President & CEO Journey Resources: "We are wrapping up drilling an area we previously hit a high grade intercept on and hopefully we will add quite a bit of resource to our current resource estimate. The last 43-101 resource estimate was done in 2005 when gold was at $350/oz and our resource cut-off was based on that -- using current gold prices, a lower gold cut-off, and with the new area we are drilling off currently, yes I believe we could double that."

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. The term investment advisory refers to the fact the reader is being advised there is a publication on an item that is also an investment, and not advice to buy or sell. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell and of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL.

Contact Info:

James O'Rourke, Editor

Mining MarketWatch Journal

editor@miningmarketwatch.net

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