Canadian Venture Exchange Inc.

Symbol MLM

Millstream Mines Ltd.

4 King St. Suite 1320            Toronto, Ontario, M5H 1B6      Tel: (416) 368-9595

Fax: (416) 368-6827

38,832,043 SHARES ISSUED





Date: Jan. 28, 2004

Jan. 27, 2004 Close: $0.14




Toronto, Ontario – Millstream’s Management is extremely pleased with the results of its first phase exploration program on the Sudbury Airport property. A multitude of favourable targets were generated from a deep penetrating I.P. geophysical survey over the entire 46 claim units. Follow-up diamond drill holes (M001 & M002) confirmed at depth the extension from surface of the mineralized Sudbury Breccia. These findings verify the conclusions of Insight Geophysics Inc.’s geophysical program, set the stage for the next exploration programs and further define the potential of an economic discovery.


The Airport Property is located in the Sudbury Mining District, Ontario, Canada, just outside the east rim of the Sudbury Basin on the southeast horn of the Basin; and 1.2 Km east of Falconbridge Ltd.’s past producer, Norduna Mines, and 4 Km southeast of Falconbridge’s recent (Nickel Rim South) hi-grade Cu-Ni-Co-PGM discovery near to their past producer, Nickel Rim Mine (FL P.R. April 16, 2002, “the hi-grade intersection has a gross value of CDN$2,000/tonne”).


Sudbury Breccia (Psuedotachylite) is the known host structure for ores in the Sudbury Footwall type deposits. These geologic formations are found in Falconbridge’s Nickel Rim South new discovery, FNX Mining’s Norman Deposit, and at other orebodies around the Sudbury Basin. Millstream’s Consultant, John Gingerich, P. Geo. states, “the Airport Property has several long zones of untested Sudbury Breccia with numerous Cu-Ni-Co-PGM showings, indicating the potential for a more significant deposit.”


Consultant Phil Brown, P.Geo., Millstream’s Q.P. for the Airport property, confirms Gingerich’s  statement and discloses there are three Sudbury Breccia trends striking sub-parallel to the direction of the Sudbury Igneous Complex (SIC) on the property, defining approximately 8 Km of prospective strike for potential Sudbury Footwall type deposits. In addition, two major faults, the Airport Fault and the Norduna Fault, cross the Property in a southeasterly direction, and that Cu-Ni-Co-PGM mineralization has been associated with these faults, presenting buried Off-Set Dyke type deposit possibilities.


In detail, the first phase exploration program re-established the property surface control grid; reviewed historic property data; investigated surface geology; defined a model target suitable for Sudbury Footwall type deposits; performed a deep penetrating I.P. geophysical survey over the entire 46 claim units; carried out a preliminary (2 holes) diamond drill program to establish vertical lithology and continuity of the Sudbury Breccia in depth at selected geophysical targets; and conducted downhole Transient Electromagnetic (TEM) geophysical survey in each drill hole.


D.D.H. M001 (collared @15+00N, 4+00E, Az 270, dip -52 deg) drilled to a downhole depth of  314 meters intersected 26.2 meters of Sudbury Breccia at interval 115.2 to 141.4 meters downhole. D.D.H. M002 (collared @ 20+00N, 4+00E, Az 270, dip -60 deg) drilled to a downhole depth of 627 meters intersected 26.1 meters of Sudbury Breccia at interval 580.6 to 606.7 meters downhole. The Sudbury Breccia in each hole is well developed; clasts show variable lithology and size, and good flow foliation. Traces, blebs and stringers of pyrrhotite and chalcopyrite (Po+Cpy) are observed in the diamond drill core within the Breccia intervals. Assay results show anomalous values of Cu-Ni-Co-PGM with odd significant anomalous values.


Borehole surveys of the drill holes illustrate M001 and M002 deviated from the planned  geophysical targets within the Sudbury Breccia unit. The TEM surveys indicate off-hole anomalies verifying Insight Geophysics Inc.’s determined targets.


The 2nd phase of exploration programs under the operations of Millstream’s joint venture partner (Crowflight Minerals Inc.) is being planned with interpretation of the results obtained in the 1st phase. Site activities are anticipated to take advantage of the winter conditions of frozen ground.


Millstream would also like to remind the interested public of its website location @

The principle objective of Millstream Mines Ltd. is to enhance and develop known mineral properties to production potential.


For further information contact:



Mr. Ernest Harrison, EM, CEO       Mr. Marty Martinello, B.A., V.P.

Phone: 705-474-7282

Fax: 705-474-5491


Mr. Robert Chase, B.A., CFO



Fax:  416-368-6827





No regulatory authority or similar body approved nor disapproved the information contained herein.