Stealth Minerals Limited: Exploration Update; Large-Scale Bulk Tonnage Gold and Silver Targets Identified on Nub Mountain.

VANCOUVER, British Columbia -- Stealth Minerals (TSX VENTURE:SML) - The subject of this report, the Nub Mountain property, which is one of eleven Stealth properties worked on this year, consists of 26 contiguous mineral claims containing 357 units covering approximately 90 square kilometres in the Toodoggone region of north central British Columbia. The claims are 100% owned by Stealth Minerals and are subject to a 3% net smelter return royalty.

Over the past three years, data from programs consisting of prospecting, mapping, sampling and airborne geophysics have yielded a comprehensive model of this large area. The entire mineral and alteration system is visible from the mineralized porphyries at the 1,100 to 1,200 metre elevation up to the low-sulphidation systems at 1,500 metres and up-section to the steamed clay advanced-argillic alteration of Nub West at 1,800 metres.

Exploration over the past two field seasons has identified nine significant areas of interest on the Nub Mountain property, each of which hosts anomalous and highly anomalous areas of gold, silver, copper, lead, zinc, molybdenum, tungsten and barium mineralization. The nine target areas are identified as the Jo Zone, Northwest Breccia, Nub West, PSQ Zone, Malachite Ridge, Malachite Bowl, Nub Stockwork-Skarn, Amethyst Cirque and Gold Nose Ridge.

Geological mapping in 2004 confirmed that the eastern and southern portions of the property are underlain by a previously unmapped and unrecognized large-scale quartz monzonite intrusion that dips shallowly under the claims. Regional-scale northwesterly trending faults have focused hydrothermal activity generated by this underlying mineralized intrusive body, resulting in extensive areas of gold-bearing argillic and advanced argillic alteration systems of high-, transitional- and low-sulphidation styles of mineralization throughout the Nub Mountain Massif.

An intense area of alteration 4-kilometres wide by 8-kilometres long with associated gold and silver mineralization is centered along the trace of the Black Fault that may partially be the plumbing system, which was active over several deposition episodes and may link the Northwest Breccia, Nub West, the newly discovered Jo and PSQ zones to the north. These mineralized areas appear to be volcanic hosted and may be caused by metal-rich fluid from the Pine West porphyry area, which outcrops and is the southern segment of the regionally extensive quartz monzonite intrusion (Jock Creek monzonite). This intrusion also outcrops at the newly discovered Sofia copper-gold porphyry some 15 kilometres to the north.

The Nub West extensional corridor host swarms of parallel monzonite dykes, basalt dykes, younger latite dykes and large volumes of chalcedonic quartz. Other alteration assemblages have also taken advantage of the plumbing system as is evident by the intense advanced argillic clay alteration and steam textured replacement vuggy silica.

The altered and mineralized corridor includes the Northwest Breccia to the south, Nub West, Jo Zone and the PSQ zone progressively to the northwest. This area displays massive zones of alunite alteration and is focused at Nub West at 1,700 to 1,800 metres in elevation on the west side of the Black Fault. The Jo Zone is described by a 200-metre long gold-in-soil geochemical line, which returned 34 ppb to 325 ppb gold. Twelve outcrop chip samples upslope from this also over a 200 metre width returned from 1 ppb to 12.8 g/t gold and averaged 1.81 g/t gold from tuffs, intrusive rocks and minor quartz veinlets. This is a very significant discovery as it is located 50 to 100 metres beneath the advanced argillic alunite alteration cap and may represent high- or transitional-sulphidation styles of mineralization hosted in volcanics, intrusive dykes and quartz veinlets.

Furthest to the north, the PSQ showing is located on the east side (down dropped side) of the Black Fault at 1,500 to 1,600 metres and is exposed over an area of 300 metres by 700 metres and consists of high-level chalcedonic quartz veins with anomalous silver values.

All of the evidence, including airborne geophysical survey results, rock, silt and soil sampling, PIMA and geological mapping suggest the Nub Mountain Massif hosts potential for intermediate-sulphidation and epithermal to transitional gold bearing systems in proximity to the argillic to advanced argillic alteration zones. It is also believed these mineralized discoveries are related to nearby or underlying intrusive-hosted copper-gold porphyry deposits similar to Kemess South mine operated by Northgate Minerals Corp (NGX-T) located 30 kilometres to the south.

The Nub Mountain Massif is a high-priority area with excellent discovery potential for bulk tonnage gold and silver deposits. Drilling is planned in 2005.

Assaying on rock and soil samples was conducted by Assayers Canada of Vancouver, BC. The field program is under the direction of Dave Kuran, P. Geo., who is the qualified person for the Company.

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Stealth Minerals Limited (TSX VENTURE:SML)