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To: LoneClone who wrote (30941)	1/8/2009 2:52:09 PM
From: LoneClone	Respond to of 194794

IAMGOLD Expands Presence in West Africa and Announces Appointment of Senior Vice President, African Operations Thursday January 8, 11:04 am ET ca.us.biz.yahoo.com TORONTO, ONTARIO--(MARKET WIRE)--Jan 8, 2009 -- IAMGOLD Corporation ("IAMGOLD") (Toronto:IMG.TO - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) is pleased to announce the appointment of Brian Chandler as Senior Vice President, African Operations. Brian will lead the expansion of IAMGOLD's presence on the African continent, in the role of Managing Director, IAMGOLD Africa. Brian is a professional engineer with 25 years' experience in many aspects of the mining industry, working in both underground and open pit mining operations and development projects in Canada, Ireland and Africa. He has been a consultant to IAMGOLD over the past 8 months and was instrumental in the operational improvements at our Mupane gold mine in Botswana, where costs were significantly reduced this year through efficiencies; cash operating costs of US$408/oz for the nine months ended September 30, 2008 compared with US$572/oz a year earlier. Brian will be establishing an IAMGOLD Corporate Office in Africa, initially in Dakar, from which he will be responsible for IAMGOLD's African operations and for building relationships with joint venture partners, governments and local communities. Brian will also take the lead in driving IAMGOLD's growth strategy in West Africa, one of IAMGOLD's key focus areas. IAMGOLD currently has interests in two gold mines in Mali, two in Ghana and one in Botswana. In 2008, about half of IAMGOLD's global gold production was from these African operations. Moving forward, IAMGOLD will further its position as a leading gold player in West Africa upon completion of the recently announced transaction with Orezone Resources Inc. ("Orezone"). Under the proposed transaction, IAMGOLD would acquire, via a plan of arrangement, all of the outstanding common shares of Orezone Resources Inc. in a supported, all-share transaction (the "Transaction"). Completion of the Transaction is expected in late February, subject to, among other things, the approval by the shareholders of Orezone at a special meeting of shareholders of Orezone, and final court approval. On completion, IAMGOLD would own a 90% interest in the fully permitted, 4 million ounce Essakane gold project, located in Burkina Faso, West Africa, with the Burkina Faso Government holding the remaining 10%. Construction commenced in September of 2008 for a mine that will contribute average gold production of over 300,000 ounces per year over a minimum nine-year mine life. Full production is anticipated in late 2010. IAMGOLD's newly appointed Managing Director, IAMGOLD Africa, Brian Chandler will play a leading role in the integration and construction of the Essakane gold project. "We are pleased to have an experienced mining executive join us to further establish our presence in West Africa. Brian further expands our executive team and has the mining expertise and experience to deliver on our aggressive growth objectives in Africa," commented Joseph Conway, IAMGOLD's President & CEO. ABOUT IAMGOLD IAMGOLD is a leading mid-tier gold mining company producing almost one million ounces from 7 mines on 3 continents. IAMGOLD is focused on growth with a target to reach 1.8 million ounces gold production by 2012. IAMGOLD is uniquely positioned, with a strong financial base, together with the management and operations expertise to execute on our aggressive growth objectives. IAMGOLD is focused in West Africa, the Guiana Shield of South America and in Quebec, Canada with a pipeline of development and exploration projects. IAMGOLD continues to assess accretive acquisition opportunities with a strategic fit. IAMGOLD is listed on the Toronto Stock Exchange ("IMG"), the New York Stock Exchange ("IAG") and the Botswana Stock Exchange. Please note: This entire press release may be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through Marketwire's website at www.marketwire.com. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov. Si vous desirez obtenir la version francaise de ce communique, veuillez consulter le iamgold.com. Contact: Contacts: IAMGOLD Corporation Elaine Ellingham SVP, Investor Relations & Communications (416) 360-4712 or Toll Free: 1-888-IMG-9999 (416) 360-4750 (FAX) Email: info@iamgold.com Website: iamgold.com Source: IAMGOLD Corporation

To: LoneClone who wrote (30941)	1/8/2009 2:54:07 PM
From: LoneClone	Respond to of 194794

Fortune Minerals updates Mount Klappan coal project feasibility study with lower Canadian dollar Thu Jan 8, 10:23 AM ca.news.finance.yahoo.com Project economics materially enhanced Issued Capital: 55,550,107 LONDON, ON, Jan. 8 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") is pleased to announce significantly improved economics for the Lost Fox deposit at its 100% owned Mount Klappan anthracite coal project in northwest British Columbia as a result of the current lower Canadian dollar. The Lost Fox deposit bankable (definitive) feasibility study originally produced by Marston & Marston Inc. ("Marston") in August 2005, was recently updated in July 2008 by Marston using an exchange rate of C$1.00 = US$0.97 as the base case (see Fortune Minerals news release dated August 7, 2008). Since completion of this feasibility study update, the value of the Canadian dollar has steadily declined to approximately C$1.00 = US$0.83. Because production costs for the mine would be incurred primarily in Canadian currency, whereas revenues would be derived from sale of products in U.S. dollars, Fortune requested Marston to prepare a further update based on current exchange rates. Marston has done so and results of its update show that the cash costs per tonne of coal sold would be significantly lower and project economics would be materially enhanced. The impact of the decline in the Canadian dollar relative to the U.S. dollar from US$0.97 to US$0.83, increases the base case Pre-Tax Internal Rate of Return (IRR) from 28.9% to 40.9% and the base case 8% discounted Pre-Tax Net Present Value (NPV) from C$702.7 million to C$1.281 billion. The base case cash cost per tonne of coal FOB vessel at the loading port also decreases from US$103.59 to US$88.64 (C$106.79). However, capital costs for the first three years of the project would increase from C$617 million to C$655 million to reflect the cost of equipment purchased in U.S. currency. Lost Fox is one of four deposit areas within the Mount Klappan project and the Marston feasibility study and its updates assess only the initial pit in the Lost Fox deposit area. The feasibility study assessed the economics of an open pit coal mine and process plant to produce 3 million tonnes of clean coal products per year, consisting of a premium 10% ash ultra-low volatile pulverized coal injection (PCI) product used to manufacture steel. The PCI product would be transported by truck from the site to an upgraded port facility in Stewart, British Columbia for loading and delivery to overseas steel customers. Alternative transportation methods from the mine to the ports of Stewart and Prince Rupert were also investigated. Fortune Minerals has retained CIBC World Markets Inc. to act as the Company's financial advisor in pursuing strategic alternatives for the advancement of Mount Klappan (see Fortune Minerals news release dated July 2, 2008). CIBC World Markets has been assisting Fortune in identifying potential strategic partners and evaluating potential transactions for the project while Fortune pursues a strategy of independent development of its 100% owned NICO Cobalt-Gold-Bismuth-copper deposit in the Northwest Territories. The CIBC engagement is still in progress. (A bankable feasibility study is a comprehensive engineering and economic analysis of a project (typically prepared to +/- 15% precision) that is used by financial institutions to determine the credit worthiness of a proposed development and project financing.) GENERAL INFORMATION The Mount Klappan project consists of 15,000 hectares of contiguous coal licenses located 150 km northeast of the port of Stewart and 330 km northeast of the port of Prince Rupert in northwest British Columbia. The property straddles the BC Railway right-of-way, which provides road access to the site from Highway 37. The Canadian National Railway Company operates on the portion of the right-of-way between Prince George and Minaret, 150 km south of the proposed mine site. The Mount Klappan project contains very large resources of high quality anthracite, a hard coal with the highest rank, carbon and energy content and lowest moisture and volatile content of all coals. Unique properties make anthracite ideal for use in a broad range of metallurgical and thermal applications, including metallurgical processing, blend coals for blast furnace coke replacement, and charge carbon, sinter and PCI coals used in the manufacture of steel. Only about 1% of world coal reserves are anthracite grade, making the Mount Klappan coal a relatively uncommon premium product. Notably, the two largest producers of anthracite products in the world, China and Vietnam, have curtailed exports in order to satisfy their domestic requirements, creating an attractive development opportunity for Mount Klappan. COAL RESOURCES AND RESERVES The resources for the Mount Klappan project are identified in four distinct deposit areas referred to as Lost Fox, Hobbit-Broatch, Summit and Nass. Collectively, these contain Measured resources of 107.9 million tonnes, Indicated resources of 123 million tonnes, plus 2.572 billion tonnes in the Inferred and Speculative classes (see Fortune Minerals news release, dated June 22, 2004). The in-situ and PCI product coal reserves were estimated for the initial open pit mine at the Lost Fox deposit as part of the 2005 and 2008 Marston feasibility studies and are presented in the table below. MINERAL RESERVES FOR THE LOST FOX DEPOSIT AREA ------------------------------------------------------------------------- IN-SITU COAL RESERVES (Mt) 10% ASH PRODUCT RESERVES (Mt) ------------------------------------------------------------------------- PROVEN PROBABLE TOTAL PROVEN PROBABLE TOTAL ------------------------------------------------------------------------- 85.6 16.1 101.7 51.6 9.2 60.8 ------------------------------------------------------------------------- The Mount Klappan mineral resource and mineral reserve estimates were prepared in 2002 and 2005, respectively by Marston in compliance with National Instrument 43-101. Richard Marston, P.E. is the Qualified Person responsible for the estimates. Further information can be obtained regarding the Mount Klappan mineral resource and mineral reserve estimates is available in the Company's disclosures under the Company's profile on the SEDAR website at www.sedar.com. UPDATED ECONOMIC ANALYSIS The base case economic analysis assumes a price of US$175 / tonne for premium PCI coal for the first 5 years, and then US$150 / tonne for the remainder of the 20-year mine life at a C$1.00 = US$0.83 exchange rate. A summary of the base case economics updated from the current exchange rate is shown in the table below. Updated coal price sensitivity analysis to coal price increments of US$10 and 25 / tonne were also prepared and are presented in the second table below. -------------------------------------------------------- UPDATED BASE CASE ECONOMICS -------------------------------------------------------- PRE-TAX AFTER-TAX -------------------------------------------------------- IRR 40.9% 31.2% -------------------------------------------------------- NPV (8% DISCOUNT) C$ 1,281 M C$ 596 M -------------------------------------------------------- CAPITAL (1ST 3 YEARS) C$ 655 M -------------------------------------------------------- ------------------------------------------------------------------------- UPDATED ECONOMICS AT COAL PRICE SENSITIVITIES ------------------------------------------------------------------------- FOBT PRE-TAX PRE-TAX NPV AFTER-TAX AFTER-TAX NPV CASH COST / PRICE IRR (8%) DISCOUNT IRR (8%) DISCOUNT TONNE ------------------------------------------------------------------------- US$ 110 7.8% (C$8,234 M) 4.2% ($118,634 M) US$ 84.77 ------------------------------------------------------------------------- US$ 120 14.8% C$280,312 M 10.5% $83,394 M US$ 85.17 ------------------------------------------------------------------------- US$ 130 20.6% C$534,966 M 15.3% $256,124 M US$ 87.14 ------------------------------------------------------------------------- US$ 140 26.0% C$789,864 M 19.9% $427,883 M US$ 88.72 ------------------------------------------------------------------------- US$ 150 31.3% C$1,052,059 M 24.2% $599,291 M US$ 90.00 ------------------------------------------------------------------------- US$ 175 43.6% C$1,689,984 M 33.9% $1,012,859 M US$ 93.55 ------------------------------------------------------------------------- US$ 200 55.9% C$2,345,840 M 43.2% $1,435,972 M US$ 96.63 ------------------------------------------------------------------------- US$ 225 67.8% C$2,990,744 M 52.1% $1,851,898 M US$ 99.94 ------------------------------------------------------------------------- US$ 250 79.3% C$3,636,111 M 60.8% $2,268,217 M US$ 103.22 ------------------------------------------------------------------------- US$ 275 90.7% C$4,281,148 M 69.1% $2,683,856 M US$ 106.50 ------------------------------------------------------------------------- US$ 300 101.9% C$4,098,312 M 76.9% $3,095,488 M US$ 109.90 ------------------------------------------------------------------------- Note: The cash cost per tonne of coal includes government production royalties, which escalate with higher revenues resulting from increased coal price sensitivity. With the present volatility in global capital markets and commodity prices, Fortune Minerals is pleased to report that recent economic modelling for the Lost Fox deposit at Mount Klappan continues to show a positive rate of return at low coal prices, and very robust economics at higher coal price sensitivities up to US$300 / tonne that were realized in 2008. With global shortages of good quality metallurgical coal, and particularly anthracite, Mount Klappan continues to be a very attractive development asset. About Fortune Minerals Fortune Minerals is a diversified natural resource company with several mineral deposits and a number of exploration projects, all located in Canada. They include the Mount Klappan anthracite coal deposits in British Columbia, and the NICO cobalt-gold-bismuth deposit, the Sue-Dianne copper-silver deposit and other base and precious metals exploration projects in the Northwest Territories. Fortune Minerals is focussed on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects. This press release contains forward-looking information. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, the size and quality of the Company's mineral resources, progress in development of mineral properties, demand and market outlook for metals and coal and future metal and coal prices. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the inherent risks involved in the exploration and development of mineral properties, uncertainties with respect to the receipt or timing of required permits and regulatory approvals, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal and coal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law. Contacts Fortune Minerals Limited: Robin Goad President - or - Lindsay Simmons IR Coordinator Tel.: (519) 858-8188 Fax: (519) 858-8155 info@fortuneminerals.com www.fortuneminerals.com Renmark Financial Communications: Dan Symons Account Manager - or - Rea Unson Junior Account Manager Tel. (514) 939-3989 Fax. (514) 939-3717 dsymons@renmarkfinancial.com or runson@renmarkfinancial.com www.renmarkfinancial.com

To: LoneClone who wrote (30941)	1/8/2009 2:55:37 PM
From: LoneClone	Read Replies (1) \| Respond to of 194794

Selkirk Metals Corp.: 12.19% Zn and 2.18% Pb Over 15.29 Meters From Ruddock Creek Underground Drilling Thu Jan 8, 7:00 AM ca.news.finance.yahoo.com VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2009) - Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE: SLK.V) is pleased to report the latest set of assay results from the underground diamond drilling program at the Ruddock Creek Property, located 100 km north-northwest of Revelstoke in the Kamloops and Revelstoke Mining Divisions, British Columbia. The most recent results compiled by the Company include holes EUG-08-17 to 23. These holes were located in the central portion of the area drilled during 2008, except for holes EUG-21 and 23, which contain the westernmost intercepts drilled. ---------------------------------------------------------------- From To Interval Zn Pb Ag Drill Hole # (m) (m) (m) % % g/t ---------------------------------------------------------------- EUG-08-017 20.21 26.85 6.64 8.03 1.74 2.35 ---------------------------------------------------------------- 73.47 78.25 4.78 4.48 1.22 7.51 ---------------------------------------------------------------- ---------------------------------------------------------------- EUG-08-018 52.00 54.64 2.64 9.24 2.14 2.35 ---------------------------------------------------------------- ---------------------------------------------------------------- 26.96 33.09 6.13 12.70 2.84 3.00 EUG-08-019 -------------------------------------------------- 84.10 88.71 4.61 9.31 1.73 2.92 ---------------------------------------------------------------- ---------------------------------------------------------------- EUG-08-020 70.28 75.73 5.45 11.72 2.40 3.26 ---------------------------------------------------------------- ---------------------------------------------------------------- 179.01 194.3 15.29 12.19 2.18 3.06 EUG-08-021 -------------------------------------------------- 227.58 238.41 10.83 10.23 1.96 2.33 ---------------------------------------------------------------- ---------------------------------------------------------------- 58.00 61.21 3.21 6.67 1.15 3.21 EUG-08-023 -------------------------------------------------- 175.65 183.52 7.87 7.30 1.20 1.96 ---------------------------------------------------------------- Results from holes EUG-08-1 to 16, which are among the most westerly holes completed, have been previously released and are included in the following table. ---------------------------------------------------------------- From To Interval Zn Pb Ag Drill Hole # (m) (m) (m) % % g/t ---------------------------------------------------------------- 350.60 364.11 13.51 3.10 1.05 8.88 -------------------------------------------------- EUG-08-001 386.49 391.63 5.14 12.77 1.86 1.75 -------------------------------------------------- 397.10 398.29 1.19 9.02 2.64 4.00 ---------------------------------------------------------------- ---------------------------------------------------------------- EUG-08-002 232.00 236.24 4.24 4.39 0.92 0.00 ---------------------------------------------------------------- ---------------------------------------------------------------- EUG-08-003 230.20 231.20 1.00 16.32 3.36 5.00 ---------------------------------------------------------------- ---------------------------------------------------------------- EUG-08-004 142.15 144.81 2.66 13.72 3.12 2.88 ---------------------------------------------------------------- ---------------------------------------------------------------- 251.37 262.79 11.42 7.51 0.86 1.19 EUG-08-005 -------------------------------------------------- 313.10 331.97 18.87 8.38 1.52 2.10 ---------------------------------------------------------------- ---------------------------------------------------------------- EUG-08-007 129.57 134.20 4.63 12.71 2.87 4.14 ---------------------------------------------------------------- ---------------------------------------------------------------- EUG-08-008 32.61 40.15 7.54 3.27 0.58 0.76 ---------------------------------------------------------------- ---------------------------------------------------------------- EUG-08-009 61.44 71.15 9.71 4.65 0.96 2.63 ---------------------------------------------------------------- ---------------------------------------------------------------- 70.79 73.96 3.17 4.81 0.97 2.08 EUG-08-010 -------------------------------------------------- 107.00 108.60 1.60 11.37 2.87 2.55 ---------------------------------------------------------------- ---------------------------------------------------------------- EUG-08-011 90.64 94.18 3.54 7.59 1.61 2.44 ---------------------------------------------------------------- ---------------------------------------------------------------- EUG-08-012 51.44 55.02 3.58 10.42 2.39 1.85 ---------------------------------------------------------------- ---------------------------------------------------------------- EUG-08-013 56.85 58.75 1.90 16.71 3.58 5.54 ---------------------------------------------------------------- ---------------------------------------------------------------- 69.29 98.51 29.22 3.18 0.77 0.46 EUG-08-015 -------------------------------------------------- Incl. 78.65 82.19 3.54 11.54 2.25 2.32 ---------------------------------------------------------------- ---------------------------------------------------------------- EUG-08-016 64.38 70.10 5.72 6.05 0.91 1.51 ---------------------------------------------------------------- The underground drill program completed during 2008 was designed to provide additional close spaced drill intercepts of the western extension of the E Zone portion of the Ruddock Creek Sulphide Horizon. This zone has been traced from surface outcrops, at the east end, for in excess of 1.2 kilometers, down dip to the west. The Ruddock Creek Sulphide Horizon consists dominantly of calc-silicate rocks, pegmatites and lesser biotite schist. Lenses of massive sulphide, composed of sphalerite, pyrrhotite and galena in order of abundance are hosted by the calc-silicate portions of the package. The Ruddock Creek Sulphide Horizon varies from less than 5m to over 50m in true thickness. Multiple individual massive sulphide lenses are present within the horizon, ranging from less than 1m to greater than 5m in true thickness, separated by variable thicknesses of non mineralized pegmatite, calc-silicate or biotite schist. Locally these stacked lenses of massive sulphide and host rock, attain true thicknesses of over 30m of ore grade material. Previous surface drill programs on the near surface, eastern portion, of the E Zone have shown it to be up to 450m in dip extent from the northern to southernmost intercepts. In the area of the underground drilling the longest defined dip length of the horizon is 300m, however this remains open in both directions. All of the 2008 drilling was completed from drill stations located along the northerly trending decline, or on the easterly trending crosscut developed at the 900m point of the decline. The crosscut was developed to a length of 170 meters east of the main decline and includes four drill stations. The underground diamond drilling program has completed the required number of drill holes necessary to finalize the resource calculation for the portion of the E-Zone from surface outcrop to the point where it has been intersected by the decline, a length of approximately 1.2 kilometers. Operations on the Ruddock Creek Property are being conducted under the supervision of the Company's Qualified Person (as defined by NI 43-101), Jim Miller-Tait, P.Geo., Vice President of Exploration. Acme Analytical Laboratories Ltd. was engaged to carry out the analytical work on all samples. The analytical procedure utilized was the Group 7AR 23 multi-element assay by ICP-AES methods. On Behalf of the Board of Directors: Gordon Keevil, President This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of content of this press release. Contacts Gordon Keevil Selkirk Metals Corp. President (604) 687-2038 (604) 687-3141 (FAX) Website: www.selkirkmetals.com