| NEWS RELEASE Shares: 70,222,264 VEDRON GOLD INC. Exploration Returns More Near Surface Gold Mineralization Adjacent to Existing Underground Workings on the Fuller Property, Timmins, Ontario FOR IMMEDIATE RELEASE, November 2, 2006, Toronto, Ontario. Vedron Gold Inc., (TSX-V:VG, FRANKFURT: VN3), announces drill results from exploration drilling recently completed on the Fuller Property including 10.32 grams Au per tonne over 0.98 metres and 9.22 grams Au per tonne over 1.22 metres. A total of 11 holes, 2,538 metres, were completed on 3 separate areas of the Fuller property. Vedron owns 100% of the Fuller property which has been developed by decline ramp with 5 mine levels to a depth of 200 metres. The Fuller property lies along strike and between the historic producers, Paymaster Mine (1.19 million ounces of gold production) and the Aunor Mine (2.5 million ounces of gold production), (source: Timmins historic production Ministry Northern Development & Mines website). The Paymaster Mine is on strike and adjacent to the Goldcorp/Kinross owned Dome Mine which has been in production since 1910. The three areas of the Fuller property tested in the programme are as follows: Fuller Green Carb Zone: Five holes, 937 metres were drilled to test for extensions of the Green Carb Zones 1 and 2 of the Vedron Fuller deposit. The drill holes tested for extensions of the Green Carb zone within 50 metres of the existing ramp and underground workings, 50 to 100 metres along strike from historic green carb zone intersects. Every hole intersected gold mineralization within or adjacent to the fuchsite and ankerite altered quartz feldspar porphyry, host rock to the Fuller Green Carb zone mineralization. Assays include 9.22 grams Au per tonne over 1.22 metres within a wider zone of 3.17 grams Au per tonne over 9.14 metres including 5.08 grams Au per tonne over 4.88 metres – hole VG-06-99 and 10.32 grams Au per tonne over 0.98 metres – hole VG-06-102. Fuller North: Four holes, 1,243 metres, were drilled in a relatively untested exploration area of gold mineralized zones that are situated 200 metres to the north of the Fuller deposit zones. These drill holes tested for strike extensions of the known mineralization where historic gold production occurred on the Goldcorp/Kinross PJV owned Paymaster property immediately to the east. The holes intersected wide widths of favourable alteration and mineralization, returning gold values of 1.6 grams Au per tonne over 3.2 metres including 3.43 grams Au per tonne over 1.19 metres – hole VG06-96. Historic underground drilling between 300 metres deep and 1,500 metres deep near the east boundary with the Paymaster property had intersected values exceeding 30 grams Au per tonne (source: Placer Dome files). The shallow Vedron drilling reported here did not repeat the high grade assays located at deeper levels, but was successful in intersecting wide zones of alteration and mineralization with anomalous gold at shallow depths. Fuller ML Zone: Two holes, 358 metres were drilled to test for extensions of the ML Zone of the Vedron Fuller deposit. The ML zone has not been included in the 43-101 compliant resource of the Fuller deposit. The ML zone likely represents the extension of the more extensively drilled Green Carb Zones that are located on the east side of the fold from the Fuller deposit underground workings. Exploration data is very sparse on the western extensions of the Fuller deposit situated on the west side of the fold. Historic interpretation of the Fuller deposit was that of a single fold, however evidence existed that in fact the Fuller deposit was an “S” fold with the stratigraphy and mineralization extending to the west rather than trending southeast. Earlier exploration had just begun to confirm this. Drill Holes VG-06-104 and 105 confirmed the zones with wide intersections of fuchsite-ankerite alteration corresponding to the extension of the Green Carb 1 and 2 Zones. Near surface assays include 2.08 grams Au per tonne over 4.54 metres and 3.09 grams Au per tonne over 3.51 metres. A complete table of the drill results follows at the end of the press release. All exploration work was conducted under Kenneth Guy, P. Geo., designated Qualified Person for Vedron Gold, who has reviewed the this press release. Gold analysis of samples collected by Vedron were assayed by Laboratoire Expert in Rouyn-Noranda, Quebec. Analysis consisted of a fire assay of a 30-gram sample with an atomic absorption finish. Samples assaying over 1.0 gram per tonne Au are re-assayed with gravimetric finish. Samples noted to contain visible gold are analyzed via total metallic assay method. A rigorous Quality Control and Assurance program (QA/QC) is in place, using control samples such as Blanks and Rocklabs Standards and duplicate checks. In addition, duplicate analyses of 10% of the samples were corroborated by check assays on samples performed by Bourlamaque Laboratory of Val D’Or, Quebec. For further information contact: Tom Meredith, President of Vedron Gold, 416 368 0099. To learn more about Vedron Gold (TSX-V:VG), visit our website: www.vedron.com The TSX Venture Exchange has not reviewed a |
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