| ||Vancouver: Simon Ridgway, President of Radius Gold Inc. ("Radius") is pleased to announce that Meridian Gold Inc. ("Meridian") has started a second phase of drilling at Radius's Natividad gold project in Nicaragua. Drilling is now underway on the first of approximately 50 planned holes.|
Meridian anticipate that the second phase drill program will consist of roughly 4,800m of core drilling on priority targets. Drilling will first test targets on the Ahumada, Pavon Norte, Las Brisas, Manceras, Babaska, Pavon Central and Pavon Sur veins. Roughly 3,500m are planned on these veins. An additional 1,300m of coring are planned for new targets within the joint venture concession area. A drill collar plan will be posted shortly on Radius's website at www.radiusgold.com.
Over the last 9 months, Meridian has undertaken an intensive exploration program on the Natividad joint venture area. In October 2005 they flew an airborne magnetic and radiometric survey over about 500km2 of the joint venture area. They have since conducted detailed mapping, prospecting, and sampling surveys within this zone and have discovered new gold mineralization at the Las Valles and Cerro Pastel areas to the northeast of Pavon North. The present drill program will test these new discoveries as well as the known high grade shoots along strike and down dip.
In the second quarter of 2005, Meridian completed 43 holes (6,396m) at Natividad. The drilling started to outline 2 distinct >5g/t Au "pay shoots" at Natividad, 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. These results were previously released in Radius new release NR RGI 5, dated July 25, 2005, titled "Radius announces initial drill results from Natividad."
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-RGI 5, Sept. 23, 2004).
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. Harmen Keyser, P.Geol., a Director of Radius, has verified that the results presented in this release are an accurate summary of the information provided to Radius by Meridian.
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.
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