NEWS RELEASE
MARCH 22, 2006
Adonai Copper Property Optioned in Peru
Vancouver, B.C. – March 22, 2006 – Ballad Gold & Silver Ltd. (TSX.V:BGS) is pleased to announce it has agreed to an option to acquire 100% of the Adonai Copper Property covering an area of 1,000 hectares within the Capillayoc spot, district of San Lorenzo de Quinti, Province of Huarochiri, Department of Lima, in Central Peru.
Ballad will have the exclusive option to acquire a 75% interest in the Adonai Property by completing US $500,000 in exploration and development work on the Adonai Property within 60 months of June 1, 2006 and issue 500,000 common shares in instalments over the next 60 months after June 1, 2006. After the acquisition of a 75% interest in the Adonai Property, Ballad will have the exclusive Option to acquire the additional 25% interest in the Adonai Property by completing a feasibility study within eight (8) years. Upon completion of the feasibility study Ballad will have earned a 100% interest in the Adonai Property subject to a 2% Net Smelter Royalty in favour of Len De Melt, with Ballad being entitled to acquire 1% of the 2% Net Smelter Royalty (one half) for $250,000 at any time.
With the Adonai acquisition, Ballad continues to add to its expanding exploration activities in South America. The Adonai property is located near historical locations of copper and silver deposits signalling a mineral rich area, suitable for mineral discoveries.
Past exploration on the Adonai Copper Property suggests the property has good potential to host Copper, Zinc and lead mineralization.
The property includes a 25 kilometre area of influence clause.
Mr. Len De Melt and Linda Pimentel, a Peruvian, are the vendors of the property. Mr. De Melt has worked extensively in exploration, acquisition and mine development in Peru for the past 10 years and he has been instrumental in securing exploration properties for a number of companies.
Mr. De Melt consented to act as a director of Ballad following the announcement of Mina Verde and Mina Suyoc property acquisitions on March 8, 2006. Mr. De Melt will manage Ballad’s Peruvian operations following the acquisitions of the Mina Verde, Mina Suyoc and now the Adonai Copper Property. Mr. De Melt’s extensive history and experience in Peru together with his success in identifying and developing exploration properties and targets make him a valuable addition to Ballad’s board of directors.
Ballad intends to build on its long history, experience and contacts in Peru. Ballad began operations there in the spring of 1995. In September of 1997 Ballad acquired the Peruvian properties and assets of the former TVX Gold Inc., including an extensive database of Peruvian properties.
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 accuracy of the content of this News. 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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