Magnus updates Lugazi project in Uganda

Magnus International Resources, Inc. announces that the first phase of its 5,000 meter RC drilling program is complete. The drill program commenced on the 10 February 2008 at the Company’s Lugazi Project located in southern Uganda, and a total of 31 holes for 2,037m were completed along three lines. The maximum depth reached was 81m inclined at 60 degrees, with the average depth being 65m inclined.

This drilling at the Lugazi Project investigated a 300m - 700m wide gold-in-soil anomaly at three places over a distance of at least 3.5km. This anomaly is coincident with a magnetic rich horizon, which was identified following a fixed wing high-resolution airborne geophysical survey, as well as ground magnetic traverses. The composited 3m samples are currently being prepared for submission to an analytical laboratory in Mwanza, Tanzania.

Preparations are also well advanced for the next phase of drilling which will focus on the Company’s Mashonga Project in southwestern Uganda, located within the Buhweju goldfields. These goldfields have produced more than 200,000 ounces gold from artisanal alluvial sources at surface since the 1930’s. At Mashonga, the program will target an open-slot mine and artisanal workings, where high grade gold, together with high grade platinum and palladium grades, were recorded. Further drilling at Mashonga will also target a 3km by 500m wide gold-in-soil anomaly located approximately 1km east of the mine.

The third phase of drilling at the Mwerusandu project in southwest Uganda will test a high grade trench intersection (20.5m at 3.5 g/t gold) across siliceous outcrop as well as a gold-in-soil anomaly developed southwards along the contact of a granite intrusion and meta-sediments.

Mr. Gavin Conway, Magnus’ VP Exploration, commented, we are pleased to get this first phase of drilling completed successfully at Lugazi. We continue to be excited about the prospects at these key exploration projects, in particular the Mashonga project, where we have some very high grade gold assays from surface and an artisanal mine shaft. The Company is also investigating additional targets on the property which show potential to host similar high grade structures that occur at the mine site. We look forward to receiving results from our drilling campaign and will continue to keep our shareholders informed of the status of drilling as well as the results once we have processed the information.