News Release

 March 01, 2005
Crowflight Updates Progress On The Feasibility Study Of The Bucko Deposit, Thompson Nickel Belt

 TORONTO, ONTARIO: CROWFLIGHT MINERALS INC. (TSX VENTURE:CML) is pleased to provide an update on the progress of the Bucko Deposit Feasibility Study. Crowflight has an option to earn a 100% interest in the Bucko Resource Block by completing a feasibility study, arranging financing and bringing the deposit into production. To date a number of activities are progressing to advance the project to the feasibility stage, including resource block modeling, metallurgical testing, environmental and geotechnical studies and mine design and milling to name a few.

President and CEO, Stan Bharti commented on the work to date on the feasibility study stating: "I am pleased at the progress to date in advancing the Bucko Resource Block towards feasibility. This progress is a reflection of the efforts of our technical team together with the support of our strong technical advisory committee. I look forward to continued progress in the coming months as we advance towards completion of the feasibility study, expected early in the second half of the year."

Review of Feasibility Activities
  1. Metallurgical Test Program: A total of 2 holes (BK-05-01, 02A) and 6 wedged holes (N-05-12A, 12B, 12C, 15A, 15B and 21A) for 2,010 meters were completed in the Bucko Deposit ultramafic host to gather a minimum 350 kilogram metallurgical sample. Assays are still pending from these metallurgical holes. Once assay data is received suitable core will be selected to create a composite sample to be sent to G&T in Vancouver for metallurgical testing.
  2. Geotechnical Study: The data collection component of the study has been finalized for the crown pillar, stope and ground support designs. A work plan for the mine design phase should be delivered by early March 2005.
  3. Environmental Study: A Baseline Water Quality Study has been initiated by SEACOR Environmental Inc., and will include a Fish Habitat Study at Bucko Lake.
  4. Resource Block Model: Work continues on the block model based on the Indicated Resources. For the purposes of a NI 43-101 review a study was completed in September, 2004, by GEOLOGICA Groupe-Conseil Inc. confirming Indicated Resources of 1,218,000 tonnes grading 2.71% Nickel and Inferred Resources of 455,000 tonnes grade 2.23% Nickel (refer to Crowflight Press Release dated October 13, 2004). Once completed, the model will be used for detailed mine design and mine scheduling.
  5. Mine Design: The original plan was to have accessed the underground workings at Bucko via the historic shaft and access drift on the 1000 level (-300 meter from surface). Given the cost of rehabilitating this 1970 era shaft it was decided that a cost-benefit analysis on the capital and operating costs of rehabilitating the old shaft versus driving a decline ramp be considered. The draft report of the shaft-ramp trade-off study was completed, the results of which will be considered in the context of other feasibility studies being advanced.
  6. Milling: A conceptual process design with costs is proceeding and scheduled for completion in April, 2005. Crowflight has begun negotiations with third parties in close proximity to the Bucko Deposit regarding indicative custom milling terms. If possible the savings capital cost and timing from having to permit and build a processing plant on site could significantly enhance the project economics.
  7. Concentrate Transportation: A firm quotation has been received. A concentrate loading facility is to be designed upon having selected a milling alternative (custom or on-site milling).
  8. Smelting and Refining: Detailed negotiations are proceeding to firm-up terms.
  9. Socio-economic (social impact) Study: The bulk of the work is to be initiated in March 2005.
Historical Summary of the Bucko Deposit
Following the completion of a preliminary economic evaluation by Micon International Limited (Micon) in October 2004 (refer to the Press Release dated October 28, 2004) on the Bucko Deposit, in the Thompson Nickel Belt, Manitoba, Crowflight initiated a Feasibility Study ("Feasibility") in November 2004 under the direction of Richard Adams, P. Eng., Crowflight's Manager, Engineering. Micon is also the main contractor working on the Feasibility, supported by a number of contractors and consultants.

The Feasibility is based on the currently defined Indicated Resources outlined by GEOLOGICA Groupe-Conseil Inc. in their NI 43-101 technical evaluation of the Bucko Deposit (refer to Crowflight Press Release dated October 13, 2004) entitled "43-101 Technical Evaluation Report of the Bucko Lake Property, Northern Manitoba", September 24, 2004 (filed under Crowflight Minerals Inc. on the SEDAR website at www.sedar.com). The GEOLOGICA resource estimate was conducted on a higher grade portion of the Bucko Deposit within the boundaries of the historical (pre-NI 43-101) resource of 19 million tonnes grading 1% Nickel. Based on the review by GEOLOGICA Groupe-Conseil Inc., the current Indicated Resources are:
Level (depth below surface)              Indicated Resources
---------------------------              -------------------
                                         Tonnes     % Nickel
                                         ------     --------
400 to 600 (surface to -150 meters)      57,000         2.16
600 to 1000 (-150 to - 375 meters)      554,000         2.96
1000 to 1600 (-375 to -750 meters)      439,000         2.51
Below 1600 (below -750 meters)          169,000         2.62
                                        -------         ----
Total                                 1,218,000         2.71
This press release has been prepared by Mr. Richard Adams, P. Eng., Manager Engineering and Mr. Jean Lafleur, P. Geo., VP Exploration at Crowflight. Both individuals are Qualified Persons under NI 43-101 guidelines.

Crowflight - The Base Metal Builder
Crowflight Minerals Inc. is a Canadian junior mining exploration and development company listed on the TSX Venture Exchange. The company is focused on Nickel, Copper and Platinum Group Mineral projects in the Thompson Nickel Belt ("TNB") and Sudbury Basin. The company currently owns and/or has under option more than 672 km2 of exploration and development properties in Manitoba and Ontario.

In Manitoba, these properties include: (1) the Bucko Deposit where the Company is conducting a feasibility study, and (2) an earn-in option on ten highly prospective properties with Falconbridge Limited, including four within 30 kilometres of the Bucko Deposit (Bowden Lake, Resting Lake, Halfway Lake and Gonlin Lake), and six located 100 kilometers to the north on the TNB Thompson North Project (Burntwood River, Birchtree South, Birchtree North, Airport, Moak Lake and Strong Lake).

In the Sudbury Basin, these properties include: (1) the 100% owned AER Kidd Project adjacent to Inco's Totten Deposit (10.1 million tonnes @ 1.5% Ni, 2% Cu, 4.8 g/t PGE's), (2) the Airport Property (a 50/50 joint venture with Millstream Mines Ltd.) located 4 km on-strike with Falconbridge's Nickel Rim South Deposit (13.2 million tonnes @ 3.5% Cu, 1.7% Ni, 0.8 g/t Au, 4.1 g/t PGE's), (3) the optioned (100% earn-in) Mystery Offset Dyke Property and (4) the 100% owned Peter's Roost Property.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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FOR FURTHER INFORMATION PLEASE CONTACT:
Stan Bharti
President and CEO
(416) 861-5876
 
 

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