NXA announces 2008 exploration programs

NXA Inc. announces its 2008 exploration program for the Topley-Richfield epithermal gold-silver base metal property, Trail Peak porphyry copper-gold property and Axelgold alkalic gold-uranium property, each of which is located in the Omineca Mining Division of northern British Columbia.

NXA is planning to complete a minimum of 3,000 m of diamond drilling on the Topley-Richfield Property, the Company’s principal mineral exploration property (please see the technical report in respect of the Topley Richfield Property which has been filed on www.SEDAR.com under the Company’s profile), to verify grade and extent of the principal vein and test an additional four structures that have not been previously drilled. The principal vein according to historical drill results is between 0.5 and 3 m wide and has been traced for 325 m along strike and to 180 m depth and is open along strike and to depth. Historical assays returned grades between 0.5 to 27.8 g/t Au and 3 to 4037 g/t Ag. A re-sampling program of the historical core will augment the 2008 drill program in an effort to verify the historical estimates. It is NXA’s intention to expand the geophysical and geochemical survey completed in 2006 and 2007 an additional 21 and 11 line-km, respectively, in an effort to identify additional vein structures.

The potential quantity and grade of the principal vein is conceptual in nature and there has been insufficient exploration to define a mineral resource or mineral reserve (within the meaning of these terms in section 1.2 and 1.3 of National Instrument 43-101). It is uncertain if further exploration will result in the principal vein being delineated as a mineral resource or mineral reserve. A qualified person has not done sufficient work to verify the historical data although recent sampling by NXA suggests the Au and Ag grades and dimensions of the vein are reasonable. However, undue reliance should not be placed on such historical data.

Exploration work in 2007 on the Topley-Richfield Property was successful in characterizing the geophysical and soil geochemical signature of the principal gold-silver veins exploited by miners in the 1920’s and 1930’s. This work outlined the strike extents of the known veins and defined several additional structures that mimic the geophysical and geochemical signature of the previously mined veins. A vast majority of the Topley-Richfield Property is covered by a layer of glacial till which completely covers all of the delineated structures except for one historically excavated trench where 4 of 5 surface grab samples by NXA in 2007 returned significant gold assays of 0.9, 1.2, 1.3 and 16.1 g/t Au.