| ||News Release 2004-03|
Vancouver, March 17, 2004: Radius Explorations Ltd ("Radius") is pleased to announce the granting of key mineral concessions covering and surrounding its promising El Pavon epithermal gold discovery in central Nicaragua.
The Ministerio de Fomento Industria y Comercio de Nicaragua (the Ministry for Promotion of Industry and Commerce) in Managua has granted three key concessions - the Geminis, Natividad and El Milagro II totaling 91,363 hectares - which cover the El Pavon discovery in central Nicaragua.
The El Pavon low sulphidation epithermal vein system was discovered by Radius in 2003. The veins are hosted by a series of intermediate to felsic volcanic lavas, ignimbrites and tuffs. Two veins -- named Pavon North and Pavon Central having a combined strike length of over 3km - were initially located within a 5 km by 2.5 km area (see map on Radius's web site: www.radiusgold.com). The veins show good consistency over the identified strike length.
Pending granting of the license, Radius's initial work was restricted to shallow hand trenches and sampling of existing outcrop and road cuts, which returned best sections of 8.4 m @ 21.7 g/t gold including 4.9 m @ 34.7 g/t gold from Pavon Central, and 16m @ 7.1 g/t Au including 8m @ 12.1 g/t Au from Pavon North (see Radius News Release 2003-12, September 2, 2003).
The recent approval allows Radius to commence a systematic trenching program on the Pavon veins to better define the grade-thickness of the ore shoots, with drilling expected to start in the second quarter of this year. In addition, remote sensing work has identified what are believed to be key regional structural controls on the Pavon vein mineralization and further ground is currently being acquired to ensure that the extensions of these structures fall within concessions that are 100% owned by Radius.
For further information on Radius Explorations Ltd., please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com).
The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD
Simon Ridgway, President
Shares Issued: 39.7-million
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