TSX Venture Exchange Inc. Millstream Mines Ltd.
Symbol YLI 4 King St. Suite 1320 Toronto, Ontario, M5H 1B6
Tel: (416) 368-9595
31,632,043 SHARES ISSUED Fax:
(416) 368-0584
FOR IMMEDIATE RELEASE
Date: Aug. 27, 2003
Aug. 26, 2003 Close: $0.155
MILLSTREAM PROCEEDING WITH SUDBURY PROPERTY
JOINT VENTURE EXPLORATION PROGRAM
Toronto, Ontario –Millstream Mines Ltd. (YLI-TSX-V) is pleased to announce that Crowflight Minerals Inc. (CML-TSX-V) has fulfilled its initial requirements to earn a 50% undivided interest in Millstream’s Airport Property (P.R. July 16, 2003) in accordance with a Joint Venture Agreement. Crowflight made the $60,000 property payment and deposited $325,000 into a joint bank account to fund the mutually agreed initial exploration program. With the funds in place, Millstream (as the operator) mobilized line cutters and geophysic crews to the Airport Property commencing what management believes to be a significant and meaningful innovative exploration program.
To date, the surface control grid brushing and cutting has been completed and the geophysic’s Tuned Gradient I.P. Resistivity survey, being conducted by Insight Geophysics Inc., is proceeding as planned. Three (3) vertical Insight Sections (surface to 600 meter depths) of high density Apparent Resistivity and Chargeability measurements on selected favourable areas are currently being analysed for potential drill targets.
The Airport Property is accessible via the Sudbury Airport highway and 1.4 km along a Falconbridge maintained dirt road and then 1.6 km south along a bush road, in the Falconbridge Township, Sudbury Mining District, Sudbury, Ontario, Canada. The Property is located just outside the east rim of the Sudbury Basin on the southeast horn of the Basin (see attached picture file); and 1.2 km east of Falconbridge’s passed producer, Norduna Mines, and 4 km southeast of Falconbridge’s recent (Nickel Rim South) hi-grade Cu-Ni-Co-PGM discovery (FL P.R. April 16, 2002, “the hi-grade intersection has a gross value of CDN $2,000/tonne”)
The Airport Property has numerous outcrops containing large areas of Sudbury Breccia/ Psuedotachylite structures. These type of structures are the known favourable host for ores in the Sudbury Basin Footwall zones, and are found in the new Nickel Rim South discovery and at other mine locations around the Sudbury Basin.
Millstream would also like to remind the interested public of its website location @ www.millstreammines.com.
The principle objective of Millstream Mines Ltd. is to enhance and develop known mineral properties to production potential.
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For further information contact:
Mr. Ernest Harrison, EM, CEO Phone: 705-474-7282
Mr. Marty Martinello, B.A., V.P. Fax: 705-474-5491
Mr. Robert Chase, B.A. Phone:416-368-9595
Fax: 416-368-6827
Email: info@millstreammines.com
No regulatory authority or similar body approved nor disapproved the information contained herein.