2007 Hornby Bay Exploration Completed

Pitchstone Exploration Ltd. (PXP-TSX.V) and Triex Minerals Corporation (TXM-TSX.V) announce the completion of their $2.4 million Hornby Bay Basin exploration program for 2007.  Complete results will be released in the fall when all analytical data are in hand. 

The 50:50 joint venture (the “Joint Venture”) is actively exploring four properties in the Hornby Bay Basin, including the Mountain Lake uranium deposit located 100 km southwest of the coastal community of Kugluktuk, Nunavut.  Total land holdings cover approximately 221,000 hectares.

Eleven diamond drill holes were completed during the 2007 program for a total of 2,818 m.  All drill holes were radiometrically probed.  Three holes at the north end of the Mountain Lake deposit intersected thin zones of weak radioactivity and have effectively delineated the northern margin of the deposit.  Eight holes were completed on two targets on the Dismal Lakes property.  No continuous zones of significant radioactivity were intersected.  More drilling is required to complete testing of the eastern-most target at Dismal Lake.  Further targets at Helmut River, Jenny Lake and Kendall River have yet to be drill-tested.

The Mountain Lake deposit contains the only identified uranium resource in the Hornby Bay Basin (Inferred Mineral Resource of 8.2 million pounds U3O8 with an average grade of 0.23% U3O8 contained in 1.6 million tonnes of rock; see NI 43-101 Technical Report on SEDAR). y

Surface exploration was ongoing during the 2007 drill program.  Results from this program will both refine existing drill targets, and potentially identify new ones.  The focus is on three fields of radioactive sandstone boulders for which the sources have yet to be identified.  Uranium content in the boulders from these fields is similar to those spatially associated with the Mountain Lake deposit (see April 26, 2006 News Release).   Work during 2007 included:

• 375 line-km of ground resistivity surveys over parts of the Kendall River, Mountain Lake and Dismal Lakes properties.
• Regional scintillometer prospecting and soil sampling on one kilometer spaced lines over much of the Kendall River, Dismal Lake and Mountain Lake properties, and parts of the Sandy Creek property.  A total of 177 man-days were spent prospecting and collecting 3,659 soil samples.  All samples have been shipped to the Saskatchewan Research Council for analysis.  Data are not expected until October.
• Preliminary uranium extraction studies have been completed on a composite core sample from the Mountain Lake deposit.

Triex is operator for the Joint Venture. Allan Armitage, Ph.D., P.Geol., is a Qualified Person as defined by National Instrument 43-101, and is responsible for program design and quality control of exploration undertaken by the Joint Venture in the Hornby Bay Basin.  This release has been reviewed by Steve Blower, M.Sc., P.Geo., Pitchstone’s Vice President, Exploration - a Qualified Person as defined by National Instrument 43-101.

Pitchstone is actively exploring for uranium in four proven districts. The property portfolio features ten projects in the eastern Athabasca Basin, Saskatchewan, five of which are joint ventured with Uranium One and five being 100% owned.  In addition, there are five joint venture projects with Triex in the Hornby Bay Basin, Nunavut and NWT, an exploration partnership with Cameco and Motapa Diamonds in the Franceville Basin, Gabon, and an option on three projects in Namibia.  Pitchstone has a unique group of geologists with extensive uranium exploration and production experience.

On behalf of the Board,

E.A.G. (Ted) Trueman, CEO and Director

For further information contact:  Ted Trueman, CEO, (604) 630 5560, ted@pitchstone.net,                Mark T. Brown, CFO, (604) 687-3520, or www.pitchstone.net

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.  This news release may contain assumptions, estimates, and other forward-looking statements regarding future events.  Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company’s control, that may cause actual results or performance to differ materially from those currently anticipated in such statements.