NEWS RELEASE

December 2, 2005

 

PENASCUDO EXPLORATION

Previously announced exploration by Ballad that was expected to commence on the Peñascudo Gold/Silver Property in anticipation of legal title to the property being transferred to Ballad’s  Argentine subsidiary has been delayed while the company works to resolve considerations raised by two of 12 surface right holders overlying the Peñascudo Property. Ballad is pleased to announce legal title to the Alberto, Pedro, Rolando, Fernando, Ivan, Daniel and Cecilia minas have now been registered in the name of Ballad’s subsidiary, Compañia Minera San Antonio S.A.

Ballad continues to develop and build contacts with the local community and landowners in connection with its planned exploration at Peñascudo.  
 
Further information regarding exploration on Peñascudo will be issued as developments occur.
 
Ballad has the right to earn a 70% interest in the property from Golden Arrow Resources Corporation, subject to a 1.5% NSR royalty, by completing US $1,800,000 in exploration over 5 (five) years and issuing a total of 1,000,000 Ballad common shares (500,000 issued) and paying US $300,000 in year five. Ballad can earn a further 15% for a total interest of 85% by funding a feasibility study. 

BALLAD GOLD & SILVER LTD.
 
Per:    “Anthony J. Beruschi” 
Anthony J. Beruschi
President

 
For further information please contact the president, Anthony J. Beruschi B.Sc. LLB., at 604.682.7159, or 1.888.880.2288 or ajb@balladnet.com.
 
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

 

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