Radisson Mining Announces Joint Venture with Aurizon Mines Will ...

Tag : joint bearing
ROUYN-NORANDA, QUEBEC -- 09/22/08 -- Radisson Mining Resources Inc.(TSX VENTURE: RDS) announced today that it could not reachagreement with Aurizon Mines Ltd. in respect of a proposed jointventure on Radisson's O'Brien/Kewagama property in northwesternQuebec (the "Property").
For approximately six months, Aurizon has been engaged in duediligence on the Property as agreed by a Letter of Intent ("LOI")dated April 14, 2008. The terms of this LOI would have entitledAurizon to earn up to a 50% interest in the Property upon providinga bankable feasibility study on the Property. Subsequently, Aurizonrequested that it be entitled to earn a 75% interest in theProperty for such achievement and Radisson declined such proposal.
Radisson now intends to embark on two drill programs, one of whichis on the O'Brien/Kewagama Property and the other is on Radisson'sDestor/Duquesne property, as described below.
The O'Brien/Kewagama Property Radisson's main asset, the 100%-ownedO'Brien/Kewagama Property, contains the former O'Brien Mine, whichwas known for its high gold grades and was considered to be themost important gold producer in the Cadillac Mining Camp in Quebecwhen it was in operation from the early 1930s to the mid 1950s.
Radisson is now focusing on the 36 East Zone, a new gold-bearingzone located 2,500 feet east of the old O'Brien Mine, that containscomparable high grades of gold and on an area between the 36 Zoneand the historic Kewagama Mine, immediately east of the O'BrienProperty. Radisson was conducting advanced exploration work on theproperty, but suspended the program when the LOI was signed withAurizon Mines.
In its 2007 NI 43-101 Report on the O'Brien Mine 36 Zone, ScottWilson RPA concluded that "there is excellent potential to increasethe Zone 36 East resources above the 2,000 Level and to discovernew resources further at depth and along strike further to theeast."
Radisson is currently reviewing all of the available surfacediamond drill hole and historic underground information to selectpriority targets for drilling later in the fourth quarter of 2008.
The Destor/Duquesne Property The Destor/Duquesne Property, owned100% by Radisson, is located along the Destor Porcupine DeformationZone approximately 30 km north of the town of Rouyn-Noranda,Quebec. It adjoins the Duquesne Project currently being explored byClifton Star Resources Inc. ("Clifton Star") where 113.80 g/t Auover 3.60 metres was recently reported (See Clifton Star pressrelease of August 20,2008).
The Destor/Duquesne Property includes 1,400 metres of prospectivegeology along the Destor Porcupine Deformation Zone. The propertyhas been worked by several exploration companies, the last of whichwas Hemlo Gold in 1993-04.
Gold mineralization on the Destor/Duquesne Property has beenidentified in several zones, the two most significant being theZone Grise and the Lepine Zone. Both zones are believed torepresent the possible strike extensions of the gold-bearingstructures currently being explored by Clifton Star.
Drilling is expected to commence on the Destor/Duquesne Propertyonce all necessary permits are in place.


The TSX Venture Exchange does not accept responsibility for theadequacy or accuracy of this release.
Contacts:
Radisson Mining Resources Inc.
Kenneth G. Murton, B.Comm.
President and Chief Executive Officer
416-920-2748
kmurton@radissonmining.com

Radisson Mining Resources Inc.
Donald Lacasse, Eng.
Vice President, CFO and Secretary-Treasurer
819-797-0606
dlacasse@radissonmining.com
www.radissonmining.com