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Exall Resources Limited: Significant Results Continue at Gold Eagle Property in Red Lake, Ontario

Posted on: Monday, 6 March 2006, 12:01 CST

Exall Resources Limited (TSX:EXL)(OTCBB:EXALF) and Southern Star Resources Inc. (TSX VENTURE:SSR) are pleased to announce that the on-going drill program at the Gold Eagle Mine Property in Red Lake, Ontario continues to intersect significant widths of high-grade gold: 291.4 grams/tonne over 2.44 metres (8.50 oz/ton over 8.01 feet) and also discovered a new high-grade sulphide-hosted type of gold mineralization: 17.03 grams/tonne over 17.12 metres (0.50 oz/ton over 56.17 feet). The Bruce Channel high-grade gold mineralization has characteristics similar to other high-grade Red Lake gold deposits and is open in all directions. Hole Number BC11-3 ------------------------------------------------------------------ Intersection Gold (in Metres) Length -------------------- ------------------------------------ Grams per Ounces per From To Metres Feet tonne ton VG ------------------------------------------------------------------ ------------------------------------------------------------------ 1,251.30 1,254.90 3.60 11.81 3.20 0.09 ------------------------------------------------------------------ 1,266.55 1,267.40 0.85 2.79 10.29 0.30 ------------------------------------------------------------------ 1,282.22 1,284.67 2.45 8.04 5.63 0.16 VG ------------------------------------------------------------------ 1,286.05 1,286.92 0.87 2.85 3.57 0.10 ------------------------------------------------------------------ 1,361.45 1,363.89 2.44 8.01 291.39 8.50 VG ------------------------------------------------------------------ including 0.30 0.98 2,355.35 67.62 VG ------------------------------------------------------------------ 1,391.50 1,400.27 8.77 28.77 4.38 0.13 VG ------------------------------------------------------------------ including 0.28 0.92 20.74 0.605 VG ------------------------------------------------------------------ including 0.42 0.92 25.75 0.75 VG ------------------------------------------------------------------ 1,464.38 1,465.91 1.53 5.02 64.07 1.87 VG ------------------------------------------------------------------ including 0.27 0.89 281.97 8.22 VG ------------------------------------------------------------------ 1,598.37 1,598.92 0.55 1.80 76.14 2.22 VG ------------------------------------------------------------------ including 0.28 0.92 104.44 3.046 VG ------------------------------------------------------------------ 1,622.70 1,623.57 0.87 2.85 7.72 0.23 VG ------------------------------------------------------------------ ------------------------------------------------------------------

Notes:

- Lengths reported are core intersection lengths and do not represent true widths. It is anticipated that true width estimates will be possible after additional drilling.

- Conversion: grams/tonne x 0.0292 equals Troy ozs. per short ton.

- VG - Visible gold

Hole Number BC11-4 ------------------------------------------------------------------ Intersection Gold (in Metres) Length -------------------- ------------------------------------ Grams per Ounces per From To Metres Feet tonne ton ------------------------------------------------------------------ ------------------------------------------------------------------ 1,331.56 1,334.75 3.19 10.47 20.06 0.58 VG ------------------------------------------------------------------ including 0.66 2.17 49.64 1.448 VG ------------------------------------------------------------------ including 0.63 2.07 44.56 1.300 VG ------------------------------------------------------------------ 1,339.30 1,339.92 0.62 2.03 105.84 4.98 VG ------------------------------------------------------------------ 1,352.40 1,353.60 1.20 3.94 10.93 0.32 ------------------------------------------------------------------ 1,379.15 1,379.74 0.59 11.9 10.00 0.29 ------------------------------------------------------------------ 1,404.21 1,404.50 0.29 0.95 13.90 0.41 VG ------------------------------------------------------------------ 1,425.60 1,428.13 2.53 8.30 7.15 0.21 VG ------------------------------------------------------------------ including 0.29 0.95 52.62 1.535 VG ------------------------------------------------------------------ 1,433.32 1,435.28 1.96 6.43 13.80 0.40 VG ------------------------------------------------------------------ 1,440.36 1,445.07 4.73 15.52 4.46 0.13 VG ------------------------------------------------------------------ 1,463.78 1,467.00 3.22 10.56 18.87 0.55 VG ------------------------------------------------------------------ including 0.25 0.82 88.79 2.59 VG ------------------------------------------------------------------ including 0.47 1.54 36.00 1.05 ------------------------------------------------------------------ 1,501.90 1,503.17 1.27 4.17 8.03 0.23 ------------------------------------------------------------------ 1,536.55 1,538.00 1.45 4.76 25.82 0.75 VG ------------------------------------------------------------------ 1,648.10 1,650.53 2.43 7.97 51.19 1.49 ------------------------------------------------------------------ including 0.70 2.30 171.67 5.01 ------------------------------------------------------------------ 1,759.60 1,762.40 2.80 9.19 4.11 0.12 ------------------------------------------------------------------ 1,772.78 1,789.90 17.12 56.17 17.03 0.50 VG ------------------------------------------------------------------ including 0.27 0.89 95.06 2.77 VG ------------------------------------------------------------------ including 0.35 1.15 159.61 4.66 VG ------------------------------------------------------------------ 1,798.77 1,799.70 0.93 3.05 11.20 0.33 VG ------------------------------------------------------------------ 1,825.37 1,825.62 0.25 0.82 33.26 0.97 VG ------------------------------------------------------------------ ------------------------------------------------------------------ Hole Number BC 6-2 ------------------------------------------------------------------ Intersection Gold (in Metres) Length -------------------- ------------------------------------ Grams per Ounces per From To Metres Feet tonne ton ------------------------------------------------------------------ ------------------------------------------------------------------ 1,517.70 1,519.40 1.70 5.58 3.74 0.11 ------------------------------------------------------------------ 1,531.00 1,531.88 0.88 2.89 3.37 0.10 ------------------------------------------------------------------ 1,543.36 1,544.04 0.68 2.23 19.92 0.58 ------------------------------------------------------------------ 1,558.77 1,559.12 0.35 1.15 24.93 0.73 VG ------------------------------------------------------------------ 1,640.15 1,640.48 0.33 1.08 53.25 1.55 VG ------------------------------------------------------------------ ------------------------------------------------------------------

Drillhole BC11-3 (Dip -63 degrees to -56 degrees, Azimuth 341 degrees to 002 degrees) completed a trio of wedged holes (see news release of December 6, 2005 for details on BC11-1 and BC11-2) designed to extend the gold bearing zones in the vertical plane further to the west of those previously outlined in BC10-1,2,3 and 4.

The BC11 "master hole" was deepened to facilitate another three hole fan of wedged holes to follow the high-grade gold zones deeper and further to the west. BC11-4 (Dip -74 degrees to -67 degrees, Azimuth 304 degrees to 353 degrees) is the first of these holes. It intercepted the gold bearing zones approximately 50 metres down plunge to the southwest of the BC11-1 to BC11-3 series.

The current drilling also discovered a new type of gold mineralization to that previously encountered. This new discovery is characterized by 1-2% fine acicular arsenopyrite in a brecciated, silicified, biotitically altered hostrock. The gold values are evenly dispersed through the mineralized intersection which returned a composite assay of 17.12 metres grading 17.03 grams/tonne (56.17 feet at 0.50 oz/ton). In addition there were small occurrences of visible gold in this sequence.

Drillhole BC6-2 (Dip -60 degrees to -50 degrees, Azimuth 084 degrees to 080 degrees) is the first wedged "satellite" hole off the BC6 master hole, now renamed BC6-1 to conform with the nomenclature protocol used in the BC10 and BC11 series of drill holes. The Company's geologists interpret that this hole may have "clipped" the southeastern flank of the main gold bearing structures. A second satellite, hole BC6-3, has been completed and its samples are currently out for assay. It was designed to intersect the gold mineralized structures further north and deeper than BC6-2.

Drilling is continuing. A third drill rig is on site with start-up scheduled for mid-March.

Qualified Person

The Gold Eagle Mine Property drill program is being carried out under the direction of John F. Whitton, P.Geo, the qualified person within the meaning of National Instrument 43-101. Mr. Whitton has reviewed the contents of this news release.

Sample preparation and assay procedures are carried out by SGS Laboratories in Red Lake using standard fire assay method with AA finish and metallics.

The statements made in this news 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.

Exall Resources Limited is a Toronto Stock Exchange listed company that trades under the symbol EXL; in the United States, Exall trades as EXALF on the US OTC Market (S.E.C. registration #82-3535). Exall is active in the business of gold exploration and development in Red Lake, Ontario, as well as oil and gas exploration, development and production from its properties in Alberta, British Columbia, Texas and in the North Sea offshore the United Kingdom. Exall owns 3,310,000 common shares of Southern Star Resources Inc., representing approximately 10% of their common shares outstanding. There are 71.8 million common shares issued and outstanding.

Exall Resources Limited (TSX:EXL) (OTC Bulletin Board:EXALF)

Source: Business Wire

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