iShares 1-10 Year Laddered Government Bond Idx ETF T.CLG

Canada's largest open pit gold reserves.

[nagyonokos]

Cumberland Expands 2005 Drilling Programs to Focus on New Gold Zone at the Meadowbank Gold Project Sep 13, 2005 9:00:00 AM VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 13, 2005) - CUMBERLAND RESOURCES LTD. (TSX:CLG)(AMEX:CLG) is pleased to report an expansion of the 2005 diamond drill program at the Company's 100% owned Meadowbank gold project located 70 kilometres north of the Hamlet of Baker Lake, Nunavut. 2005 drilling programs are focused on increasing gold resources at Meadowbank, which is host to Canada's largest pure gold open pit reserves. The now completed Phase I and Phase II programs have successfully expanded the size of the Goose Island deposit, intersected encouraging mineralization in the Goose Island South area and discovered the new Cannu zone. Prior to 2005 drilling, Meadowbank gold resources contained an estimated 3,326,000 ounces of measured and indicated resources1 and 474,000 ounces of inferred resources(1) (Q1/2005). Phase III Drilling of New Cannu Zone Based on the encouraging results received to date from the recently discovered Cannu zone (see Cumberland news release 05-11), a Phase III drill program has been added and is designed to assess the expansion potential of the zone. The Cannu zone is located approximately 350 metres north of the proposed Portage open pit and represents additional near surface gold mineralization which may contribute to the resource and reserve potential of the project. The Cannu zone is hosted in a shallow synformal (bowl shaped) fold structure in the same rocks which host the gold reserves in the Portage (1,534,000 ounces(2)) and Goose Island (368,000 ounces2) deposits to the south. All of the mineralized intersections in the 7 holes assayed to date lie within approximately 75 metres of surface. Highlights from these holes include: Hole NP05-571: 7.06 g/t over 7.44m at 28m below surface Hole NP05-573: 2.65 g/t over 4.95m at 5m below surface Hole NP05-575: 21.36 g/t over 1.75m at 72m below surface Hole NP05-576: 4.14 g/t over 5.47m at 21m below surface and 16.44 g/t over 2.87m at 30m below surface and 2.07 g/t over 2.35m at 39m below surface Hole NP05-577: 6.66 g/t over 3.50m at 6m below surface and 7.27 g/t over 6.23m at 32m below surface and 4.73 g/t over 5.55m at 40m below surface The Phase II drill program has been dominantly focused in the Cannu area where 18 holes have been completed. The expanded Phase III program will include an additional 17 to 20 drill holes, bringing the total amount of drilling for the year to over 12,000 metres. The upcoming drill program will focus on the expansion of the new zone both north and south along strike, as well as drilling designed to better define the gold zone and its relationship to the known mineralization in the Portage area. The Phase III program will take place during October 2005. Meadowbank Gold Project Cumberland is advancing Meadowbank towards open pit production of 315,000 ounces of gold per year over an 8.3 year mine life with an estimated total cash cost of US$224 per ounce. A feasibility study(3) was completed by AMEC Americas Ltd. in February 2005, SG Corporate & Investment Banking was appointed Financial Adviser in June 2005 in connection with potential debt financing, and development permitting is advancing to the final stages. Operations from three, shallow open pits are planned to commence in mid-2008, provided final permits and licenses are obtained in early 2006. Meadowbank Open Pit Gold Production Profile(3) ------------------------------------------------------------ Proven and Probable Reserves 2,768,000 ounces(2) ------------------------------------------------------------ Mine Throughput 2.73 Mtpa ------------------------------------------------------------ Mine Life 8.3 years ------------------------------------------------------------ Average Annual Production Rate Years 1 to 4 375,000 ounces Life of Mine 315,000 ounces ------------------------------------------------------------ Total Cash Cost per Oz. Years 1 to 4 US$199 Life of Mine US$224 ------------------------------------------------------------ Meadowbank Open Pit Gold Reserves - Q1/2005(2) ------------------------------------------------------------ Pit Category Tonnes Grade (g/t) Ounces ------------------------------------------------------------ Portage Proven 1,253,000 5.19 209,100 Probable 9,927,000 4.15 1,324,500 ------------------------------------------------------------ Goose Probable 2,247,000 5.09 367,700 ------------------------------------------------------------ Vault Proven 53,000 3.31 5,600 Probable 8,416,000 3.18 860,400 ------------------------------------------------------------ Note: 95% mining recovery and contact dilution applied. Cumberland is a well financed mineral exploration and development company. The Company has completed a feasibility study on the Meadowbank gold project (100% interest) in Nunavut and is advancing the project towards production. The Company also holds a 22% carried to production interest in the Meliadine West gold project and a 50% interest in the Meliadine East gold project, both located in Nunavut. The shares of Cumberland are traded on the Toronto Stock Exchange and the American Stock Exchange under the symbol CLG. CUMBERLAND RESOURCES LTD. Kerry M. Curtis, B.Sc., Geo., President and CEO Qualified Person - Gordon I. Davidson, P.Geol., is Exploration Manager, Canada, for Cumberland Resources Ltd. and is the designated Q.P. for the Meadowbank Project. Mr. Davidson has supervised drill hole planning, implementation and quality control/quality assurance programs at the Meadowbank Project since 2002. Drill core analysis is performed on split core with standard fire assay procedures and AA finish. QA/QC programs employ random insertion of four internal standards, field duplicates and blank samples. Gravimetric analysis is performed on any sample yielding greater than 1 g/t gold in fire assay. Primary assaying is performed by IPL Laboratories, of Vancouver. ACME Analytical Laboratories of Vancouver provides external reference assaying. True thickness of intersections ranges from 95-100% of intersected widths.

[thedave]

back into them today....gold firming and looks like a try at 460-475-500 in 12-18 months, just in time for clg to get it together. dave.