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Moneta Porcupine Mines Intersects 3.91 G/T Gold over 10.79 Metres at Golden Highway Project

Moneta Porcupine Mines Inc. (TSX: ME / OTC: MPUCF / XETRA: MOP) announces additional results from the ongoing 2010 drill program on the Southwest Zone, within the 100% owned Golden Highway Project, located along the prolific Destor-Porcupine Fault Zone, approximately 100km east of Timmins, Ontario.

Drill hole wedge MSW-10-267E ("267E") intersected the 267 Zone approximately 50 metres (164 feet) up-dip to the east from previously released drill hole wedge SW-10-267B. Two separate gold zones of 3.90 g/t over 11.50 metres and 3.91 g/t over 10.79 metres within a broad and variably intense ankerite alteration zone of 2.83 g/t over 49.40 metres were intersected. This drill hole wedge is the fourth intersection into the 267 Zone gold mineralization which has now been extended to approximately 80 metres (262 feet) along dip.

Ian C. Peres, President & CEO of Moneta, commented, "We continue to intersect robust gram / metre intervals with strong continuity in gold mineralization through the 267 Zone with this aggressive 50 metre step-out.  Follow-up drilling is underway to test the strike and dip extension of the 267 Zone as well as the significant mineralization intersected in the 162 cluster to the east."  

267E intersected a substantial 10.5 metre (34 feet) wide quartz vein within the 49.40 metre interval.  This 10.5 metre vein, the largest ever intersected in the Golden Highway Project, along with previously reported veins of up to 5.5 metres in MSW-10-267B, appear to confirm the existence of dominant veins which will support the interpreted continuity as we continue to expand the 267 Zone.

Moneta is reporting results from the completed 267 Zone intersection.  The 267E drilling remains in progress, continuing past the intersection of the 267 Zone, to test the westerly strike potential and interpreted steep plunge or dip of the significant gold mineralization intersected along the hanging wall (south) side of the Central Block iron formation in MSW-10-162A, 162B and 162D.

Drill hole wedge MSW-10-267D ("267D") was drilled to the west and above 267E intersecting moderate to pervasive ankerite alteration interpreted to be the hanging wall of the 267 Zone. 267D was continued and returned 2.38 g/t Au over 25.08 metres, including 2.80 g/t Au over 18.36 metres and 3.37 g/t Au over 10.28 metres along the hanging wall (south) side of the Central Block iron formation.

R. Skeries, P.Geo. is the Qualified Person for the purposes of NI 43-101 and has approved the technical content of this release.

Assay Reporting
Diamond drill core logging and sampling follows general industry practices whereby logged and sample marked core is sawn in half with one half bagged and tagged for shipment to the assay laboratory and the remaining half of the sawn core returned to the core box for storage and future reference. Pulps and rejects are also stored.  Blanks and a range of standards are inserted into the sample steam at regular intervals. Initial assays, metallics, and routine duplicates are completed by Expert Laboratories. Up to 15% of the pulps are submitted to a second laboratory as duplicates and checks.  All laboratories used standard 30g fire assay techniques. Additional core sampling and assaying, including second cuts and metallics, may be completed at later dates. Intersections are reported using drilled widths unless specified otherwise with assay values as simple averages of duplicates and gravimetric results.

Source: Moneta Porcupine Mines Inc.

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