Ethan updates C. Kalimantan gold project

(November 03, 2010)--Perth based explorer, Ethan Minerals Limited said Wednesday that it has now completed reconnaissance exploration of the Gunung Mas Project in Central Kalimantan, Indonesia. Further, Ethan has successfully negotiated exploration access to an additional exploration project located approximately 12km west of the Company?s Gunung Mas Project.

The reconnaissance rock chip sampling Program revealed some encouraging results. The geological setting of the Project area comprises andesitic intrusive rocks, with metamorphic lying to the south. A large granite tonalite intrusive has intruded the entire package. Several basalt dykes and plugs intrude the entire sequence. Gold mineralisation is known along the contact between the tonalite and metamorphics. It appears as a quartz vein stockwork style, with individual veins ranging from 1cm to 30cm in width.

Alluvial gold also occurs in active drainage systems proximal to the bedrock mineralisation.

There are several historic former gold deposits in the area, such as the Rohan Mine. The Rohan mine lies some 6 kilometres to the north of the boundary of the Project area. This has an unknown production history, however a two compartment shaft provides access to the underground workings.

In commenting on the reconnaissance exploration Program and its encouraging results, Ken Fitzgerald, Executive Director, Ethan Minerals Limited, said,

?The Gunung Mas Concession Area contains historic mine sites that carry significant grades of gold mineralisation. Following the reconnaissance, it is evident that there are several poorly or untested strike, width and down dip extensions of mineralisation of the known areas, as well as the potential for new areas of mineralisation to be discovered. In the short term, the Company?s exploration team will seek to carry out further work to define targets for drilling.? (ends)