Canadian Venture Exchange Inc.

Symbol MLM

Millstream Mines Ltd.

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

Fax: (416) 368-6827

40,132,043 SHARES ISSUED

 

 

 

FOR IMMEDIATE RELEASE

Date: Oct. 25, 2004

Oct. 22, 2004 Close: $0.07

 

MILLSTREAM’S POTTER TO BE MODELLED IN 3D

BY DISCOVER ABITIBI INITIATIVE

 

Toronto, Ontario -- Millstream Mines Ltd. (MLM - TSX-V) wishes to announce that its Potter Property has been chosen by the “Discover Abitibi Initiative” as a property that merits the work and manpower needed to create a 3D model of the mineral deposit. There were only two VMS Deposit properties chosen for this type of endeavour; the other being the world class Kidd Creek Mine belonging to Falconbridge Ltd. (FL – TSX). Incidentally, both properties are located on the same geological structure, The Pipestone Fault. This undertaking could uncover new insight into the geological controls that guided mineral deposition and help to visualize where to search for additional ore in the Potter Property.  Additionally, it will be an excellent tool to convey the story and potential of this very prospective Millstream asset.

 

Between the years of 1995 to 2001, Millstream conducted many different exploration programs including linecutting, ground geophysical surveys, geological surveys, geochemical orientation surveys and associated petrographic studies, along with surface diamond drilling programs totaling 17,300 metres drilled in 37 holes. The resulting success of this work attracted the attention of Dr. Harold Gibson, associate professor, Ore Deposit Geology and Physical Volcanology, Laurentian University, Sudbury, who stated, after deep hit S99-01A,” the significance of this hit can be stated in three words – Continuity, Predictability and Width” (referring to the nature of the Potter mineralization in PR Mar. 25, ‘99). Consultant Geologist Dave Gamble further summed up the success of this defining intersection by saying,” the significance and success of this drill hole clearly demonstrates the VMS mine hosting stratigraphic sequence and accompanying massive sulphide mineralization is drill confirmed at 3000 ft. vertically from surface, 1900 vertical ft. beneath the former mine workings and to date remains open down dip and down plunge” (PR Mar. 25, ’99). The following table outlines the highlights of the past drilling:

 

                 From     To        Core   Length              Cu       Zinc      Co        Silver     

Hole No.  metres     metres   (M)           (FT)       (%T)      (%T)         (T%)         (oz/T)

    ____________________________________________________________________

S97-08A     482.40      483.90   1.50          8.53      3.62        3.19          0.136        0.86         

                      491.86     494.40   2.54          8.33      2.33        9.09          0.073        1.08         

                      504.20     506.20   2.00          6.56      6.00        4.37          0.082        1.91         

                      537.40     543.70   6.30          20.90    2.32        3.14          0.000       0.12          

 

S97-09         604.60     627.50   22.90        75.13    2.65        2.70          0.080        0.76         

including     613.60     623.00   9.40         30.84    3.86        4.57          0.128        1.153       

 

S98-01         695.15     702.90   7.75          25.40    5.34        3.24          0.067        1.16         

including     695.15     700.40   5.25          17.20    7.81        4.76          0.096        1.69         

                      773.50     776.50   3.00          9.80     2.17        3.90          0.047        0.46         

including     774.35     776.50   2.15          7.10     2.95        5.42          0.053        0.61        

 

S98-05         420.12     423.75   3.63          11.90    2.69        0.29          0.079        0.49         

                      507.40     519.70   12.30        40.40    1.53        2.05          0.131        0.42         

including     513.00     519.70   6.70          22.00    2.14        2.47          0.174        0.58         

                      515.00     519.70   4.70          15.40    2.54        3.38          0.168        0.70         

                      516.00     519.70   3.70          12.10    2.75        3.74          0.165        0.73         

 

S98-06         653.90     680.66   26.76        87.80    2.57        1.68          0.082        0.61         

including     653.96     665.50   11.60        38.06    4.34        2.18          0.122        0.94         

                      656.90     663.49   9.59          31.46    5.01        2.63          0.131        1.09         

                      696.62     705.30   8.68          28.48    3.39        0.80          0.071        0.67         

including     696.62     703.00   6.38          20.93    4.46        1.06          0.094        0.89

 

S99-01A      1171.9     1179.72  7.82         25.66    1.96       3.18         0.085       0.53

including    1171.9     1176.4    4.50         14.76    1.98       4.55         0.098        0.61

including    1171.9     1175.2    3.30         10.83    2.19       5.96         0.116        0.71

    1165.2     1166.2    1.00          3.28     1.26       1.18         0.036        0.29

    1161.0     1162.0    1.00          3.28     1.71       0.46         0.037        0.34

    1158.4     1159.95  1.55          5.09     2.11       1.40         0.093        0.50

 

GOLD ASSAYS NOT INCLUDED; ALL ASSAYS OBTAINED FROM SWASTIKA LABS

 

The mine area requires in-fill drilling to establish the geometry of the high-grade zones below the past mine bottom level (1,100 ft.) to 3,000 ft., and may require dewatering of the mine and accessing the lower levels to diamond drill the deep zones. If carried out, a pre-feasibility report would be made and funding sourced for a bankable feasibility report. It is the initial intention of the company to continue with surface exploration to locate the mineralization east of the mine shaft indicated by the deep penetrating geophysical I.P. signatures. The Potter Mine Property is located in northern Ontario, Canada in the Timmins-Matheson area of the highly prolific Abitibi Greenstone belt.

 

The following 2 paragraphs were taken from the Discover Abitibi website and is meant to acquaint the reader with the mission and goals of the overall project:

 

The Discover Abitibi Initiative is a community based and directed program designed to stimulate exploration for and eventual development of mineral deposits within the Abitibi Greenstone belt of Northeastern Ontario. The project will leverage public and private sector funds in the hope that increased exploration will improve the “rate of discovery” there by augmenting the local economy through job creation. The jobs created could enhance and expand the highly skilled workforce presently involved in the search for and development of the mineral wealth of the region. At present the mining and exploration industry employs approximately 25% of the workforce in the area and statistics have shown that 3 spin-off jobs are created for each mining related position.

The stimulation of exploration will be accomplished through an integrated geoscientific investigation of the area. The project will employ the latest in exploration techniques and cutting edge new technologies. The use of new technologies will determine their effectiveness in locating mineral deposits in areas of heavy overburden and areas where surface development makes exploration difficult. The integration of previous data and new information through GIS coordination will provide prospectors, junior mining firms and major mining companies with the information database required to locate and develop Ontario’s mineral wealth. It is the hope that the Discover Abitibi Initiative will formulate a recipe for success in the Abitibi greenstone environment.

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

 

Millstream, further wishes to announce and remind the interested public of its web site location,

WWW.MILLSTREAMMINES.COM.

 

WARNING: The company relies upon litigation protection for "forward-looking" statements.

 

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

 

Phone:416-368-9595

Fax:  416-368-6827

 

Email: info@millstreammines.com Web:www.millstreammines.com

 

 

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