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Wampum Gold Prospect Announcement

Whetstone ANNOUNCES 7.9 GRAMS GOLD/TONNE OVER 2.4 METRES FROM DRILLING AT THE WAMPUM GOLD PROSPECT

Calgary, Alberta (TSX Venture: WMI), November 26, 2008 - Whetstone Minerals Inc. ("Whetstone") is pleased to announce the results of its fall drill program at the Wampum prospect located in the Kenora District of northern Ontario.

DRILLING HIGHLIGHTS

7.9 g Au/t over 2.4 metres intersected at a shallow depth extends the North Zone mineralization eastward.

2.0 g Au/t over 4.1 metres intersected at a vertical depth of approximately 90 metres establishes the depth continuity of the previously undrilled North Zone mineralization.

Paul Nagerl, P.Geo., President and Chief Executive Officer of Whetstone, stated that, "These results extend significantly the known gold mineralization to the north and, in conjunction with the results from drilling on the Main Zone, indicate potential for a broad continuous zone of gold mineralization at Wampum that remains open in all directions. Additional drilling will be necessary to determine the extent of these zones and to establish the potential for an economic deposit at Wampum."

The Wampum Gold Prospect is strategically located along the Cameron Lake - Victor Island gold bearing shear zone which hosts the Nuinsco Resources Limited Cameron Lake gold deposit. The Wampum Main Zone hosts a historical gold mine and was the focus of drilling in the spring of 2008 with several multi-gram gold intersections obtained (see Western Warrior Resources Inc.'s press release dated June 18, 2008). The North Zone lies 200 metres to the north of the Main Zone and is interpreted to be part of the same gold system.

Two drill holes were completed at the Wampum prospect as part of the fall 2008 program. The originally planned drill program was shortened due to economic uncertainties.

 

Hole WL08-17 was the first hole to be drilled under the North Zone and targeted the depth extension of a surface mineralized zone where grab samples yielded up to 77.62 g Au/t (see Western Warrior's press release dated March 25, 2008). The hole intersected a wide section of highly anomalous gold including narrow widths of multi-gram gold mineralization 90 metres vertically below the surface mineralization ¹.

 

Summary of Drilling Intercepts from Hole WL08-17

 

7.9 g Au/t	2.4m	8.1-10.5m
1.8 g Au/t	0.4m	26.1-26.5m
2.1 g Au/t	0.5m	65.5-66.0m
1.1 g Au/t	0.5m	111.5-112.0m
1.1 g Au/t	0.3m	113.8-114.1m
2.0 g Au/t	4.1m	114.1-118.2m	incl. 4.1 g Au/t	1.1m	117.1-118.2m

 

Hole WL08-16 was drilled to the east of the Main Zone, tested previously with holes WL 07-01 and WL07-02. No significant values were obtained suggesting that the zone is truncated or trending northward in this area. Samples from trenches at the Main Zone returned up to 4.65 g Au/t over 3.65 metres and channel sampling returned up to 10.53 g Au/t over 3.30 metres (see Western Warrior's press release dated March 25, 2008).

 

Hole Number	Easting 2	Northing 2	Azimuth	Dip	Length (m)
WL08-16	463502	5459751	182º	-45º	248
WL08-17	463498	5459688	322º	-45º	200

 

Notes:

(1)          Lengths are provided as drill intersected widths only. True widths have not been determined at this time. Uncut assays only reported as g Au/t.

(2)          Hole locations are given as UTM coordinates using the projection NAD83 Zone 15N.

 

The Wampum prospect is located in an area of excellent infrastructure. The prospect forms part of Whetstone's larger 100% owned Kenora District gold exploration portfolio which includes the Bluffpoint and Off Lake projects. Drilling at Bluffpoint completed in 2007 intersected up to 13.46 metres of 2.90 g Au/t (see Western Warrior's press release dated June 20, 2007).

 

Quality Control

Drill core was logged and mineralized intervals were split on site at Nestor Falls, Ontario, with split samples being shipped to Accurassay Laboratories in Thunder Bay for sample preparation and analysis. Gold was analyzed utilizing the Fire Assay method with an AA finish using a 30 gram sample. The drilling program was carried out under the direction of Rob Foy, P. Geo., Senior Geologist for Whetstone, a qualified person as defined by National Instrument 43-101.

About Whetstone Minerals Inc.: Whetstone is a Calgary-based, multi-commodity, mineral exploration company with 100% ownership of properties in Northwestern Ontario and Northern Manitoba.  Whetstone's website address is www.whetstoneminerals.com.

For further information please contact:

Whetstone Minerals Inc. Paul Nagerl, President and Chief Executive Officer

Phone:  (403) 543-2585

Fax:     (403) 543-2599

Email:  pnagerl@whetstoneminerals.com

 

 

To be added to Whetstone's private email list, please contact info@whetstoneminerals.com

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the

adequacy or accuracy of this release.