Odyssey Resources Ltd V.ODX.H

Resource Estimate Underway at Odyssey's ....

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Resource Estimate Underway at Odyssey's Tavsan Gold Property Wednesday August 30, 8:52 am ET TORONTO, ONTARIO--(CCNMatthews - Aug. 30, 2006) - Odyssey Resources Limited (TSX VENTURE:ODX - News) is pleased to report that pursuant to receipt of assay results from the final drill holes completed at the Tavsan gold property in western Turkey (acquired under option from Teck Cominco), an Independent Resource Estimate is now underway. The estimate is being prepared by P&E Mining Consultants Inc., an internationally recognized firm of Geologists and Mining Engineers based in Canada. The results of the estimate will be released and the complete report posted both on SEDAR and the Company's website, as soon as it is completed (early- to mid-October). COMPLETION OF DRILLING PROGRAM Tavsan hosts a series of surface-exposed gold-bearing jasperoid bodies that form an arc-like trend stretching over three kilometres. Historically, almost all drilling along this trend was focused on the "Main Zone", first drilled by an Australian company in the late 1980s, then Teck Cominco in 1997 (please see the Company's original news release on Tavsan dated May 14, 2003). Odyssey recently completed a reverse circulation drill program covering the entire trend from north to south, at 100-metre centres. Within the Main Zone, fill-in holes were drilled in order to achieve the same grid pattern, as required. All holes except one were vertical and drilled to an average depth of 25 metres to test for the presence and grade of gold-bearing jasperoid. The drilling program successfully defined the full lateral extent of near- and at-surface gold mineralization along the historically known, three-plus kilometre Tavsan trend. Gold-mineralized drill intercepts having been obtained in several new zones that had never previously been drilled. All current and historic drill data will be incorporated into the new Independent Resource Estimate, using the strictest quality control measures to ensure an accurate and statistically reliable result. Drill samples are received at ALS Chemex Izmir where they are dried and an approximately one kilogram riffle split is taken and pulverized to 75 microns (more than 85 percent), after which a sub-sample is then sent by courier to Vancouver. In Vancouver the samples are fire assayed using a 30 gram aliquot and finished by atomic absorption. A complete summary of the drill results may be found on the Company's website at www.odysseyresources.com/pdf/TavsanSummaryAug30.pdf. ONGOING EXPLORATION Additionally, variations in grade, thickness and trace element content have provided more insight into the evolution of the hydrothermal system that produced the Tavsan deposit and further reinforced the existence of a series of mineralized structures or "feeder faults" underlying the system itself. These gold-bearing structures are now the focus of the Company's ongoing exploration efforts, both underneath Tavsan itself and elsewhere across the property where several other potential gold-bearing structures have been recognized. None of these structurally-controlled gold targets have ever been drill tested. Company Profile: Odyssey Resources Limited is a Canadian-based junior mining company dedicated to making new discoveries in the ancient, mineral-rich lands of the Mediterranean. The Company is developing a copper-silver property hosting several known deposits in the heart of a large, unexplored copper-silver belt in Morocco, a country that hosts several world class mineral deposits. It is also advancing a gold property with known resources and exceptional untested exploration potential in Turkey. The Company currently has 63,050,706 shares outstanding, and the stock price at the time of writing is $0.15. Forward-Looking Statements: The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Contact: Avrom E. Howard Odyssey Resources Limited President and CEO, and designated Qualified Person [phone] [phone] (FAX) George Mihaleto Odyssey Resources Limited Business Development Manager [phone] [phone] (FAX) [e-mail] www.odysseyresources.com -------------------------------------------------------------------------------- Source: Odyssey Resources Limited https://biz.yahoo.com/ccn/060830/200608300344866001.html?.v=1