Saturn Oil & Gas Inc T.SOIL

Alternate Symbol(s): OILSF | T.SOIL.WT.A

Energy Oil & Gas E&P

Saturn Oil & Gas Inc. is a Canada-based resource company. The Company is engaged in the business of acquisition, exploration and development of petroleum and natural gas resource deposits in Western Canada. It focuses on advancing the exploration and development of its oil and gas properties in Alberta and Saskatchewan. It also focuses on the development of light oil weighted assets in Saskatchewan. Its portfolio includes Southeast Saskatchewan, West Central Saskatchewan, Central Alberta, and North Albert. The core producing properties in Southeast Saskatchewan include its Oxbow assets, which are concentrated within the Mississippian-aged, Midale and Frobisher oil formations and the Bakken assets concentrated in the Bakken formation of Southeast Saskatchewan. The core producing properties in West Central Saskatchewan consist of its Viking assets. The core producing properties in Central Alberta consist of its Cardium assets.

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Saturn Oil & Gas Inc

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Post by shrubcrawleron Dec 21, 2009 8:44am

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Post# 16606371

NR - Coal discovery

Saturn Minerals & Swift Resources Announce Coal Discovery at Saskatoba Project
12/21/2009 8:30:48 AM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Dec 21, 2009 (MARKETWIRE via COMTEX News Network) --

SaturnMinerals Inc. - (TSX VENTURE: SMI) ("Saturn") & Swift ResourcesInc. - (TSX VENTURE: SWR) ("Swift") (the "Companies"), have intersecteda 10.35 meter thick coal seam at a depth of approximately 112 meters onthe Companies' Armit property near the town of Hudson Bay,Saskatchewan. The upper 9.74 meters of this intersection containscontinuous coal with no mineral partings. A minor, 1.26 meter thickcoal seam was also intersected at a depth of 102.7 meters. Thediscovery hole was drilled vertically and coal zone intervals areestimated to be true thickness. Due to technical difficulties, thediscovery hole did not reach target depth and was suspended at a depthof 136 meters in a layer of unconsolidated sand containing coalfragments.

For location, see the map at the following link: https://saturnminerals.com/images/discovery_map.pdf

For photographs: https://saturnminerals.com/index.php?option=com_content&view=article&id=11&Itemid=3

Thediscovery was made on drill-hole four of the announced twenty-fourdrill-hole program of the 2009-2010 winter drilling program (see newsrelease Dec 7). The discovery hole was designed to test one of severalpriority geophysical targets (hereby referred to as the Leif sub-basin)as identified in the recently completed NI 43-101 Report on theCompanies' Saskatoba Coal Project (see news release Nov 23). The Leifsub-basin is approximately 1,700 x 900 m in area, and open toexploration drilling in all directions from the discovery hole.

Thefirst three holes were drilled on the Companies' Erwood property. Thefirst hole was terminated in the Devonian carbonate rocks at 205 metersand encountered two minor coal seams (0.87 and 1.80 meters thickrespectively). The subsequent two holes did not reach target depths andhad to be abandoned due to technical problems.

The Companiescaution against placing undue reliance on the visual observations ofthe coal intercepts until the results of analytical work have beenannounced. A down-hole geophysical survey is also being completed onall holes and adjustments to coal seam thickness and depth may occurwhen reporting final results.

The drill program has beensuspended for the season and will resume in early January with thecompletion of the discovery hole and the drilling of the remainingpriority geophysical targets in Saskatchewan.

The drill programis being conducted under the supervision of North Rim Exploration Ltd.of Saskatoon, Saskatchewan in consultation with Dr. KrzysztofMastalerz, the Companies' qualified person under NI 43-101 standardswho has reviewed and approved the technical content of this release.

Kluane Drilling Ltd. of Whitehorse, Yukon, is providing all drilling services for the project.

SATURN MINERALS INC.

SWIFT RESOURCES INC.

Mike Elson, President

To view the Saskatoba Coal project, please visit the following link: https://media3.marketwire.com/docs/SMI1221S.pdf

SaturnMinerals Inc. and Swift Resources Inc. have provided this map as aninformation resource based on sources deemed by Saturn Minerals Inc.and Swift Resources Inc. to be reliable. Although extensive effort hasbeen made to produce error free and complete data, all geographic andland title information has limitations due to scale, resolution, dateand interpretation of the original source materials. This informationcontained in this map may be used on the strict understanding thatneither Saturn Minerals Inc. or Swift Resources Inc. shall be liable toany persons for any loss or damage of any nature, whether arising outof negligence or otherwise, which may be occasioned as a result ofinformation provided by this map. The Companies also caution againstplacing undue reliance on the visual observations of the coalintercepts until the results of the analytical work have beenannounced.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONSERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXVENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACYOF THIS NEWS RELEASE.

Contacts: Saturn Minerals Inc./SwiftResources Inc. Stan Szary Director (604) 685-6989www.SaturnMinerals.com / www.Swiftres.com

SOURCE: Saturn Minerals Inc. and Swift Resources Inc.

https://www.SaturnMinerals.com https://www.Swiftres.com

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