Silver Grail Resources

Press Release

May 11, 2011

Two Large, Rare Earth Anomalous Areas Defined on Silver Grail's Major Hart Property

Silver Grail Resources Ltd. (“SVG”) is pleased to announce results from the heavy mineral sampling program conducted over the Major Hart property, located 90km northeast of Dease Lake, BC.

Heavy mineral sample results are used to gain knowledge of mineral types, phases, and grain sizes to improve follow-up targeting, and to increase the contrast to background values where dilution by extensive till or other environmental factors may mask potential anomalies that may not be obvious when using other types of reconnaissance geochemistry methods. The results received are considered to be exceptionally high in some elements notwithstanding the concentration due to the method. The tin results are particularly high in several samples, up to just under 20%, while total rare earth element oxides including Y exceed 10% in certain samples.

Examination of the results obtained in the late 2010 Major Hart program indicate a highly anomalous trend ("Main Anomaly Area") within the granite surrounding the intruded contact with the ultramafics, which is fully contained in the north of the claims area. The anomalous area is loosely defined as a two to three kilometre wide belt containing large amounts of fluxing agents and unusual elements such as boron, fluorine, lithium, tin, tungsten, bismuth, niobium, yttrium and REEs. The density of samples has not yet fully constrained the area to less than 20 km2 at present. The contact with the ultramafic rocks appears to have caused a strong reaction zone along the interface area with the intruding granite, which geochemistry shows to be near saturation levels in some elements, especially as the granitic melt cooled. The ultramafic rocks are of such a contrasting composition to the evolved granite melt that "chemical quenching" of the volatile and incompatible element-rich fluids may have caused rapid deposition of large volumes of unusual mineral assemblages. Tungsten skarns, tin greisens, pegmatites, and potential gemstone occurrences are considered to be possible within the north ultramafic contact belt. A second anomalous area ("South Anomaly Area") is contained within the Major Hart claims, and is located south of the main anomaly. The general relationship of anomalous samples to topography suggests that a phase of the granite is REE-enriched in a mid-elevation belt around the southern extent of the northeast lobe of the Major Hart Pluton, but does not carry the majority of the rare metals that are ubiquitous in the ultramafic contact belt.

The south trend appears to primarily contain zirconium, REEs, and moderate or spotty high beryllium values. One heavy mineral sample on the north end of this belt does contain considerable amounts of tin, and the relationship with the north belt here is uncertain. There may exist a continuum from one type of mineralization to the other, where the south area melt possibly contained similar volatile magmatic chemistry to the north, but was not destabilized by contact phenomena, and therefore has cooled in a more systematic manner. Large interior pegmatites could form in this environment, or sub-pegmatitic granitic phases with very highly differentiated chemistry from the bulk of the pluton. The area containing the southern anomaly is loosely constrained within approximately 12 km2. Potassium in the southern area is reduced compared to the north, while sodium, calcium and phosphorus show moderate reciprocal increases, suggesting some sort of modification of the bulk granite chemistry has occurred.

Note: The reader should be cautioned that these heavy mineral fraction results are from a small portion of the original sample volume, are from reconnaissance samples, and do not represent a resource of any type.

The limited whole rock data to date suggest that the general geochemical characteristics of the Major Hart Pluton shares similarities to the Separation Rapids Batholith in Ontario (host to the Big Whopper Pegmatite), parts of the Surprise Lake Batholith in northwest British Columbia ( host to over 100 Minfile showings), and the tin granites of Cornwall England, Thailand, southern China, and parts of north Alaska. Major differences exist from most granites of "similar" geochemistry, not the least of which is the very young age of 48 Ma, and the apparent absence of muscovite mica. The granite has strong similarities to topaz rhyolite compositions, mostly due to the very high silica content, which is greater than 75% on average. Boron was not analysed in granite samples but exceeds 1% B2O5 in five of the thirteen –32I heavy mineral fractions, to a maximum of 3.41% B2O5.

Methodology: The 10 kg heavy mineral samples were processed by CF Mineral Research, Kelowna, and separated into several discrete fractions by a combination of specific gravity and grain size criteria. Several fractions obtained from each heavy mineral sample were analysed by Actlabs, in Ancaster, Ontario by various methods dependant on fraction size, expected mineralogy, and desired element requirements. Methods utilized included sodium peroxide fusion ICP/MS, lithium fusion ICP/MS, neutron activation, selective ion (for fluorine), and XRF packages. A large number of the samples returned results in the percent range for several elements of interest, especially the –60HN (minus 60 mesh, heavy non-magnetic) and –32+60HN (minus 32 mesh to plus 60 mesh, heavy non-magnetic) and the –32+60HP (minus 32 mesh to plus 60 mesh, heavy paramagnetic) fractions. The intermediate specific gravity, -32mesh fraction (-32+60I) was the only fraction analysed for boron and lithium, due to analytical constraints and the range of minerals that were likely to occur in this fraction. "Heavy" minerals, as used in the analyses, are those that exceed a specific gravity of 3.32 g/cm3. The intermediate (-32I) fraction contains minerals with a specific gravity between a 2.92 and 3.32 g/cm3.

Nb, Sn and Zr results above are reported in XRF values where available. Elemental results not received from the laboratory as oxides have been converted to oxide format using formulas obtained from the British Columbia Geological Survey website, and the University of Maryland Geology Department website and are believed to be accurate. Chondrite normalized REE patterns of all samples collected from within the pluton exhibit a classic "seagull" pattern with a very strong negative Eu anomaly and a relatively flat to slightly upturned HREE pattern. LREE2O5 indicates combined LREEs in oxide format, and HREE2O5 indicates combined HREEs in oxide format. Cerium is the largest component of the LREEs in most cases, followed by lanthanum. Lutetium was not available in the –32I fraction analyses.

D. Cremonese, P.Eng., is the Qualified Person for the purposes of this news release.

"Dino Cremonese, P.Eng."

D. Cremonese, P.Eng.

President
Silver Grail Resources Ltd.

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This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Silver Grail Resources Ltd. has an ongoing obligation to disclose material information, as it becomes available.

 

The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.

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