Toronto, Ontario

April 8, 2008

 

Press Release 06 – 2008

 

Nayarit Gold continues to intersect high-grade mineralization at the Animas target

Includes 3.7 g/t Au and 178 g/t Ag over 13 metres

 

Nayarit Gold Inc (TSXV: NYG) is pleased to report results from the first drill hole of the Phase II drill program at the Orion Project. Phase II, a +10,000 metre diamond drill program, is focused on the Animas-Del Norte Vein system, following up on the success of results from the Company’s Phase I program.
 

Drill hole OR-08-55 was drilled on section 999 with holes OR-07-32 and 34, which are at the most eastern section of the drill program to date.  The Animas vein system is composed of two sub-parallel veins called the Del Norte and the Animas veins.  Hole OR-08-55 was drilled at an azimuth of 360º and a dip of -48º and intersected the Del Norte vein between 158 and 179 metres in the drill hole.  In addition, the hole bottomed in stockwork veining, and this hole will be deepened to intersect the Del Norte vein system.  For the portion of the core that has been assayed, a 13 metre interval between 159 and 172 metres of the Del Norte vein, returned 3.7 g/t Au and 178 g/t Ag.  The assays for the bottom intersection of this hole will be released when received.
 

The following table summarizes the assays received from drill hole OR-08-55 for the Del Norte Vein.  
 

Table 1

 

Drill Hole	From (m)	To (m)	Width (m)	Gold (g/t)	Silver (g/t)	Gold Equiv.    (g/t)	Silver Equiv. (g/t)
OR-08-55	158	179	21	2.5	129	5.1	256
including	159	172	13	3.7	178	7.2	361
including	162	169	7	4.2	165	7.5	375

Notes: The intervals recorded above are core lengths. It should be noted that a one metre interval between 168 and 169 metres was duplicated, in which the sample was split into two samples.  Assays for the duplicates were variable, assaying 2.64 g/t Au and 67 g/t Ag in one sample and 10.85 g/t Au and 331 g/t Ag in the second sample.  Gold values were double checked in the second sample and the rechecked Au value was recorded at 10.0 g/t ton.  This one metre interval was recorded as the average of the two samples.  The individual sample assays are presented in Table 2.  Gold equivalent values are calculated using a 50:1 ratio.  Silver equivalent values are calculated using a 1:50 ratio.
 

To date, a total of 8 drill holes have been completed on the Animas-Del Norte system during this Phase II program, with two holes in progress.  Assays are pending for 7 holes.  As well, the Company has completed the deepening of OR-07-37, which had initially bottomed in mineralization.  OR-07-37 was a 200 metre step out drill hole in Phase I designed to test extension of the vein system to the west and at depth.  This hole bottomed in mineralization assaying 4.22 g/t gold and 6 g/t silver over the last 1.2 metres of core and the interval was believed to represent the foot wall of the Del Norte vein.  The mineralization is 370 metres vertically below the collar, making it the deepest hole to intersect mineralization to date.  The deepening of OR-07-37 successfully intersected the Del Norte Vein and assays are now pending.  

 

“Assays for this hole represents the first hole from the Phase II drill program. We are pleased with the success, and will continue to test the system which is open in all directions.” Commented Mr. Colin Sutherland, President and CEO of Nayarit Gold.  “The deepening of hole OR-07-37 was successful in intersecting the Del Norte Vein.   We are excited by the presence of the vein in this hole, as it indicates the system is potentially deeper and longer along strike than anticipated.”

 

Table 2: Individual sample intervals and assays for drill hole OR-08-55 - Del Norte vein.

 

From (m)	To (m)	Thickness (m)	Gold (g/t)	Silver (g/t)
158	159	1.0	0.32	81
159	160	1.0	3.39	287
160	161	1.0	5.80	278
161	162	1.0	2.42	52
162	163	1.0	9.92	266
163	164	1.0	6.30	304
164	165	1.0	2.56	172
165	166	1.0	1.14	35
166	167	1.0	0.91	64
167	168	1.0	1.90	114
168	169	1.0	6.75	198
169	170	1.0	0.28	23
170	171	1.0	1.86	212
171	172	1.0	4.33	312
172	173	1.0	0.37	29
173	174	1.0	0.24	29
174	175	1.0	3.86	92
175	176	1.0	0.14	19
176	177	1.0	0.54	59
177	178	1.0	0.14	34
178	179	1.0	0.17	50

 

For additional information including drill hole maps and cross sections, please see the Company’s website at http://www.nayaritgold.com.

 

William J. Warren Jr., M.Sc., P.Geo is a Qualified Person as defined in NI 43-101 and has reviewed this release.

Nayarit Gold Inc. is a junior resource company dedicated to gold exploration in the proven precious metal districts of Mexico.  Management’s goal is to build a profitable resource company and maximize shareholder value through successful exploration programs and continued development.   

QA/QC Procedures: The Company has implemented a quality control program to ensure best practices in sampling and analysis of the core samples. The core is first logged then split in half during the sampling process with the remaining half being retained for verification and reference purposes. Duplicates, standards and blanks are inserted randomly into the sample stream. The samples are delivered directly in security sealed bags to ALS-Chemex Laboratories preparation facility in Guadalajara, Jalisco (Certification ISO 9001). Sample pulps are shipped from there to ALS-Chemex Laboratories in North Vancouver, Canada for analysis by ICP techniques. Metallic screen fire analyses for silver are also regularly run as an additional QA/QC check.  Metallurgical recoveries and net smelter returns are assumed to be 100%.  Gold equivalent values are calculated using a 50:1 ratio.  Silver equivalent values are calculated using a 1:50 ratio.   

For further information on Nayarit Gold please visit the company’s website at www.nayaritgold.com or contact:

Mr. Colin P. Sutherland

President & CEO

(902) 252-3833

info@nayaritgold.com

 

CAUTIONARY STATEMENT

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.  No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.  This News Release includes certain “forward-looking statements”.  All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Nayarit, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.  Important factors that could cause actual results to differ materially from Nayarit’s expectations are exploration risks detailed herein and from time to time in the filings made by Nayarit with securities regulators.

 

76 Temple Terrace, Suite 150, Lower Sackville, NS  B4C 0A7 Canada - tel:  +1 902 252 3833 - fax: +1 902 252 3836

Website: www.nayaritgold.com   –   TSX.V: NYG