| ||Vancouver, Canada. Simon Ridgway, President of Radius Gold Inc. (TSX-V: RDU) is pleased to provide an update on Radius's gold exploration programs in Central and South America. Radius has gold exploration programs in four Latin American countries: Nicaragua, Ecuador, Guatemala and Mexico and is preparing to carry out two drill programs in the first or second quarters of 2007.|
Meridian Gold Inc. ("Meridian") has completed its work at Radius's Natividad project in central Nicaragua. No further results of interest were received and Meridian has informed Radius that it intends to withdraw from the Natividad joint venture once the camp and drill pads have been rehabilitated. All data pertaining to the project will be returned to Radius.
India Norte Project
Radius has applied for permission to carry out a drill program at the India Norte vein project in west-central Nicaragua, close to the historic La India mining camp, located approximately 70 km from Managua. The Company believes that permission to drill can be secured within the next 60-90 days.
Radius's geologists identified a series of quartz veins and stockwork zones associated with a cluster of rhyodacite domes approximately 5 km north of the La India vein system which was mined historically. Radius's technical team believes that the Company's work to date has identified only the upper parts of the mineralized system. Research indicates that all of the mined ore shoots in the nearby La India camp, including those in the La India, Escondido, Tatiana and Constancia veins, were mined between an elevation of 500 m above sea level (ASL) down to as low as 50 m ASL. The strike length of the system is more than 2km and presents an attractive exploration target that warrants drill testing.
Northern Autonomous Region
Recent stream sediment and reconnaissance prospecting programs have identified several areas in the Region Autonoma Atlantico Norte ("RAAN") where notable amounts of free gold in sediment and gold in quartz float have been identified. Follow-up reconnaissance sampling has resulted in encouraging trench results. Radius has submitted several new exploration concession applications covering the main areas of interest in the RAAN, which are thought to be two new, potentially extensive vein systems exposed within a series of low-lying hills.
The Company has begun community liaison work with the objective of securing permission to carry out detailed exploration work, including trenching and drilling.
Cerro Colorado Project
In November 2006, Radius announced the acquisition of an option to earn a 70% interest in the Cerro Colorado high sulphidation gold project located in southern Ecuador. The project lies at an elevation of 3,200m to 3,400m and is situated 80km south of the city of Cuerco in the middle of a 100km long belt of epithermal gold deposits which includes several recent gold discoveries.
The area of interest at Cerro Colorado is defined by a 6km long silica-rich alteration zone forming numerous ridges and bars. The silica ridges form broad stockworks within an extensive area of silica-pyrite-alunite alteration. The distribution of highly anomalous gold, arsenic, mercury, antimony and copper values related to silica-alunite alteration are all indicative of potential for high sulphidation-type gold mineralization. The project has never been drill tested.
Over the coming two months, Radius will be focusing on community relations within the surrounding communities with the objective of confirming that the local communities are supportive of mineral exploration and mining in that region.
Radius is planning an underground exploration program at the Tambor Project in Guatemala. Tambor hosts an orogenic lode gold belt, discovered by Radius in 2000.
Core drilling in 2003 focused on the Guapinol South and Poza del Coyote zones, where 4,983m was drilled in 44 holes, to test 750m strike length of vein. At Laguna North, located 5km to the west, 2,483m of RC drilling was conducted in 16 holes over a strike length of 300m. The drilling defined a NI43-101 resource estimate of 57,800 ounces gold in the indicated category, and 216,200 ounces gold in the inferred category (see Radius press release dated December 10, 2003). This resource was established within a 1km strike length of a soil anomaly that is consistent for over 14 km.
Management has concluded that the best way to advance the Tambor Project is via an underground drifting program on the Guapinol South zone. Drill intercepts in this area cut zones carrying up to 80 g/t Au over 5m. The objective would be to expose the high grade core of the main quartz shoots to test for strike extent and consistency of grade, to determine if the shoots plunge, and to extract a bulk sample. Permitting and planning for the underground test program are complete and work should start by month end.
A regional exploration program is underway in Oaxaca and Chiapas in southern Mexico.
Assay Protocol & Qualified Person
The information in this release was prepared under the supervision of Mr. Harmen Keyser, a Director of Radius, and who is a member of the Northwest Territories Association of Professional Engineers, Geologists and Geophysicists, and a "Qualified Person" in accordance with National Instrument 43-101.
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
Simon Ridgway, President
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 53.3-million
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