The Reed Lake Discovery: Manitoba’s next Copper Mine

Hole RD-08-41: 33.46m of 10.36% Cu, including 18.08m of 13.8% Cu

VMS Ventures Inc. is a well financed, publicly traded mineral exploration company listed on the TSX Venture Exchange (TSX.V) under the symbol VMS. The Company has an extensive land position in the world class, highly prospective Flin Flon – Snow Lake VMS belt in mining friendly Manitoba, Canada.

In October, 2007 VMS announced its Reed Lake Discovery Hole intercept of 43.05 metres of 4.38% copper, 1.56% zinc, 0.85 grams per tonne gold and 13.09 grams per tonne silver, including 10 metres of 11.19% copper. 73 holes were drilled through September, 2008 including hole #RD-08-41 which included 33.46 meters of 10.36% Copper, including 18.08 meters of 13.80% copper.

The Reed Lake Discovery garnered worldwide attention for VMS in 2007. In November of 2007, the Company completed a $19.5 million dollar private placement, led by GMP Securities of Toronto, Canada. VMS traded over 331 million shares in 2007 and 202 million shares in 2008.

On July 6, 2010, VMS announced a joint venture agreement with HudBay Minerals (TSX: HBM) to develop the Reed Lake property and the two claims immediately to the south. VMS has a 30% carried interest and HudBay has a 70% interest and will act as the operator of the joint venture. HudBay began drilling at Reed Lake in late August, 2010, and a 43-101 Technical Report was completed in May, 2011 (to view the 43-101 report, please click here).

VMS Ventures’ property package was in place before the staking rush created by the Reed Lake and Lalor Lake discoveries. After three years of extensive property preparation, aggressive drill programs on VMS' 100% owned properties are now underway. $5 million in drill and other exploration activities are planned for 2011, testing for more high-grade copper-zinc-gold-silver deposits.