| ||Radius announces initial drill results from Natividad|
Vancouver: Radius Gold Inc ("Radius") is pleased to release the assay results received to date from the diamond drill program at its Natividad project in Nicaragua. The project is managed by joint venture partner Meridian Gold Inc ("Meridian") pursuant to a joint venture earn-in agreement.
Meridian has now completed Phase 1 drilling. A total of 43 holes were drilled (6,396m) and assays for 33 holes have been forwarded to Radius at the time of writing. Maps showing the collar locations for all 43 holes have been posted on the Radius Gold website (www.radiusgold.com) and a full table of all significant intersections is given below. Drill sections will be available on the web site shortly. Routine QA/QC work is being conducted on the assay results from the Natividad drill program. This work is still underway; therefore, the results should be regarded as preliminary although no material changes are anticipated.
Meridian's work is beginning to outline 2 distinct >5g/t Au "pay shoots" at Natividad. These have been informally named the Pavon Norte and the Ahumada shoots. Ahumada has been outlined by 5 diamond drill holes: NAT013, 017, 018, 020 and PADH-1 (from Radius' 2004 drilling). At a 1g/t Au cut off, a weighted average intersection of these 5 holes is 23.7 g/t Au over 2.7m. The Pavon Norte shoot is outlined by holes NAT05-025 to 029 and PADH5 and 6. At the same cut off, a weighted average for these holes is 9.6 g/t Au over 1.7m. This zone is presently open to the south with the results from NAT05-033 to 035, which test an additional 750m of strike length, pending. Additional exploration is required to confirm potential strike length, down dip extent and width of these and other zones within the property.
Four holes, totaling 278m, were drilled in Pavon Central. Two reached the target zone (NAT05-009 and 010 which intersected vein/stockwork zones 6.7m and 24.3m thick, respectively). Unfortunately, the wide zone in hole NAT05-010 was drilled with BQ core that returned less than 50% average recovery, with many intervals below 10%. Hole NAT05-008, started with NTW core, was stopped at 68m before the main vein zone was intersected after it cut a wide flow-banded rhyodacite dike 50m above the projected vein intercept. The hole has been re-entered and reamed and larger diameter core drilling has been drilled, and results are pending. Hole NAT05-001 was stopped for environmental reasons before intersecting the vein zone. Three holes drilled on the high grade north end of Pavon Central area awaiting results.
Drilling has now stopped for a scheduled break while the information received to date is collated in anticipation of a second phase of drilling at Natividad. Field work is now focused on identifying drill targets at the La Patriota system 25km to the south of Navidad and on the Navidad II license to the north. Both areas have returned vein-style mineralization from preliminary exploration and will be mapped and prospected in detail to identify future drill targets within the joint venture land package. A high resolution magnetic and radiometric survey recently flown over the Joint Venture land will be interpreted and used to help identify prospective geological, alteration, and structural features to guide further exploration of the area.
The Natividad (El Pavon) low sulphidation epithermal vein system was discovered by Radius in 2003. In September 2004, Meridian optioned Natividad from Radius. The agreement gives Meridian the exclusive option to acquire a 60% interest in El Pavon by spending an agreed amount on exploration, completing a feasibility study within four years and paying to Radius a set amount per ounce of resource defined by the feasibility study for the 60% of the ounces Meridian will acquire (see release NR-RGI5, Sept. 23rd 2004)
Nancy Reardon M.Sc., P.Geol. is the Qualified Person as defined in NI 43-101 responsible for verifying that the results presented in this press release have been accurately summarized from the drill data provided to the Company from the field teams and from Meridian Gold Inc.
Mark Hawksworth, M.Sc., P.Geol., an employee of Meridian Gold Inc., is the Qualified Person responsible for the design and management of the Natividad exploration program, including the current drill program.
For further information on Radius Gold Inc., 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
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 53.3-million
Table 1. Natividad drill results. Gold results have been rounded to a single decimal.
*NSV = no significant values
Assays for holes NAT05-034 through 043 still pending.
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