:: Blue Pearl, Endako Sign Memorandum for Milling Circuit

Blue Pearl Mining is pleased to announce that it has signed a Memorandum of Understanding with Endako Mines (a joint venture of Thompson Creek Mining Ltd. and Sojitz Moly Resources Inc.) for construction of a milling circuit to process ore from Blue Pearl's Davidson Project near Smithers, B.C. at Endako's mine site near Fraser Lake, B.C.

Blue Pearl will build, at its expense, a milling circuit capable of processing 2000 tonnes of ore per day and producing saleable molybdenum concentrate at the Endako Mine, approximately 200 km by road from the Davidson Project. Blue Pearl will benefit from Endako's existing infrastructure. Under the terms of the MOU, Endako will provide the management, supplies and personnel to operate the Blue Pearl circuit and will be responsible for its maintenance. Blue Pearl will pay Endako for the costs of operating the circuit.