Roscan Gold Corp V.ROS

News - RosCan Acquires Properties in Sweden

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RosCan Acquires Properties '810 Km2' in Sweden with Silver-Lead-Zinc Potential 4/27/2006 TORONTO, ONTARIO, Apr 27, 2006 (MARKET WIRE via COMTEX News Network) -- ROSCAN MINERALS CORPORATION (TSX VENTURE:ROS) ("RosCan") is pleased to announce that it has acquired a package of 25 properties in central Sweden, totalling approximately 810 square kilometres, having the potential for the discovery of significant silver-lead-zinc deposits. RosCan has the right to earn an 80% interest in the properties, subject to a 3% NSR, through escalating payments totalling US$ 1 million to BHP Billiton over a period of three years. RosCan's first year payment is US$ 50,000. BHP Billiton carried out extensive exploration work on the properties over a period of 3 years. The agreement is subject to formal approval by RosCan's Board of Directors and, if required, regulatory approval. Exploration targets in central Sweden, as determined by BHP Billiton, are metamorphosed stratabound base metal deposits, in particular silver-rich lead-zinc deposits, analagous to the world class deposits at Broken Hill and Cannington, both located in Australia. Cannington is the world's largest single producer of silver; in 2005 it produced over 43 million ounces of silver at a grade of about 10% lead, 4% zinc and twenty ounces of silver per tonne. These world class deposits occur in metamorphosed Proterozoic terrain and are characterised by distinctive mineralogical and geological parameters that can be used for vectoring. The best known zinc-lead-silver deposit of this type in Sweden is the Zingruvan Mine (a Lundin-Silver Wheaton venture), which commenced mining in 1857. Following a detailed geophysical-geochemical campaign in Central Sweden in 2003-2004, BHP Billiton focussed their 2004-2005 drilling efforts on several 2 to5 km long geophysical (Geotem and gravity) features with favourable geology and geochemistry. The resulting wide-spaced reconnaissance drilling carried out by BHP Billiton in 2005 (a total of 700 metres in three holes) confirmed the existence of conductors carrying anomalous lead-zinc-silver values (1-1.5% combined lead-zinc) over intercepts of 22 to 23 metres. The success ratio of the drilling, given the limited nature of the program, is extremely encouraging. Within these wider intervals, narrower zones of 1 to 3 metres contain up to 8% combined lead-zinc and up to 66 g/t of silver. It should be noted that many of the holes that intersected base metal sulphides were up to 500 metres apart and mineralization was identified within 10 metres of surface in some drill holes. Geochemical ratios suggest that the mineralization intersected to date is widespread and in some areas the silver to lead ratios are in the range of those seen at Cannington. RosCan intends to carry out a program of mobile metal ion (MMI) geochemistry over the principal target areas to be followed by drilling. It is anticipated that RosCan will be in a position to commence drilling once access permits and local environmental permitting has been approved. RosCan will employ specialists familiar with this style of deposit and specialised consulting will also be provided through Intrepid Minerals Corporation ("Intrepid"). Intrepid vended the properties to RosCan in exchange for a 20% carried interest to feasibility. Intrepid has carried out programs for this style of deposit in eastern Canada and the Arctic in conjunction with BHP Billiton over the past 3 years. Company President and CEO Alex Balabanov commented "RosCan has been actively searching for high quality projects that fit our geographic focus and metal priorities. This silver-base metal project in Sweden presents RosCan with immediate drill targets with considerable strike length, proven mineralization and great opportunity for expansion. RosCan acquired these properties on an opportunistic basis and this acquisition does not detract from RosCan's strategy to acquire advanced mineral projects in Russia, Mongolia and adjacent countries". This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements. Such forward-looking statements include comments regarding acquisitions, mineral resource statements and exploration program performance. Shares Outstanding: 18,149,573 The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Contacts: RosCan Minerals Corporation William Chymyck [phone] [phone] (FAX) Email: [e-mail] Cobblestone Communications Inc. William Chymyck [phone] [phone] (FAX) Email: [e-mail] SOURCE: RosCan Minerals Corporation mailto:[e-mail] mailto:[e-mail] Copyright 2006 Market Wire, All rights reserved.