|May 21, 2008|
Empire Acquires Significant Chromite Exploration Project in Albania
| ||Vancouver, B.C., May 21st, 2008. Empire Mining Corporation (EPC: TSX-V) ("Empire" or the "Company") is pleased to announce that it has been awarded an Exclusive Prospecting Permit covering most of the chromite-bearing, Bulqiza ultramafic massif in eastern Albania.|
The Bulqiza massif contains over 350 chromite occurrences and deposits including the producing Bulqiza Batra mine (excluded from the Empire permit area) which is widely recognized as one of the largest podiform chromite deposits in the world with past production of about 20 million tonnes grading 35-42% Cr2O3. Bulqiza ores are characterized by exceptionally high grades and generally command premium prices in world markets. Albania was the world's third largest producer of chromite, mainly from Bulqiza, before the collapse of communism in the late 1980's but the local industry has been largely dormant since that time.
Empire's prospecting permit, totaling 134.25 km2, surrounds the Bulqiza Batra mine and covers the most prospective geological terrain within the Bulqiza massif. The permit area contains extensive known chromite mineralization including the projected north and south extensions of the fold structure controlling and hosting the chromite ores in the Bulqiza Batra mine.
Empire has engaged the services of some of Albania's most experienced chromite geologists to carry out its exploration programs at Bulqiza which are scheduled to commence immediately. Initial activities will include compilation and re-interpretation of extensive historic exploration data and conventional prospecting, mapping and sampling to evaluate identified chromite occurrences within the permit area and prioritize targets for drilling later this year.
Chromite is an important component of stainless steel production and recent demand from steel mills in China and elsewhere in the world has boosted its economics dramatically. Supply and demand fundamentals for chromite are currently positive with shortages anticipated for the next ten years.
The Company's Qualified Person, John Prochnau, B.Sc. (Mining Engineering), M.Sc. (Geology), and a Special Advisor to Empire, has reviewed and approved the content of this news release.
ON BEHALF OF THE BOARD
Robert F. Giustra
For more information contact:
604-638-3474 or 1-866-689-2599
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