Brett hits long gold at Hammond Reef (August 20, 2007)

Vancouver — Brett Resources (BBR-V, BBRRF-O) is pulling long gold intersections at its Hammond Reef project, in southwestern Ontario, 170 km west of Thunder Bay.

Hole BR-47 hit 244.5 metres grading 1.04 grams gold per tonne starting from 47 metres down-hole. A strong section in the middle of the core returned 48 metres of 1.81 grams gold. Nearby hole BR-42 intersected 13.5 metres of 2.28 grams gold from 81 metres depth, and hole BR-43 hit 55.5 metres of 1.24 grams gold, including 16.5 metres grading 3.55 grams gold.

Mineralization at Hammond Reef is localized in a 100- to 300-metre-wide northeast-trending band of altered granitoid rocks associated with a strongly foliated schist or fault zone that dips 30 to 40 south. Gold occurs in fracture-controlled quartz vein stockworks in variably altered foliated granitoid rocks and mafic dykes.

Hammond Reef has seen almost 18,000 metres of drilling since 1984 by various property holders that gave a historical resource estimate of 86 million tonnes grading 0.93 gram gold (not compliant with National Instrument 43-101). Exploration at Hammond Reef has concentrated on 2.5 km of strike at the southwest end of the property where two zones — A and 41 — are separated by a few hundred metres of lower-grade rock.

Brett’s current drill program is focused on the southwestern extension of the A Zone, where Brett geologists think the mineralization is expanding at depth. To date, the A Zone has a defined strike length of 750 metres and averages 30 to 80 metres in width. A tabular body, the A Zone dips 30 to 40 southwest and has been traced 400 metres downdip. Hole HR-53, drilled earlier this year, hit 1.34 grams gold over 91 metres starting at 224 metres down-hole, indicating further potential at depth.

This year’s drilling is designed to provide the data for a resource calculation and to evaluate the potential for a large, low-grade, open-pit gold mine.

In March 2006, Brett Resources entered into an agreement with Kinross Gold (K-T, KGC-N) to earn up to a 60% interest in Hammond Reef. To earn in, Brett must spend US$5 million on exploration and development and issue 1 million Brett shares to Kinross, both within four years.

The news pushed Brett’s share price up 11.5% to $1.07. The company’s 12-month trading range is 62-$1.49.