CORRECTING and REPLACING Trade Winds Completes Updated Mineral Resource Estimate on Block A Based on Open Pit Shell

30.12.2010  |  Business Wire

Reissuing release to correct ticker symbol for searching purposes.

The release reads:

TRADE WINDS COMPLETES UPDATED MINERAL RESOURCE ESTIMATE ON BLOCK A
BASED ON OPEN PIT SHELL

Trade Winds Ventures Inc. (TSX-V: TWD, FSE: TVR) ('Trade Winds? or the
'Company?) is pleased to report the results of an updated independent
mineral resource estimate on its Block A property, a 50/50 joint venture
with Detour Gold Corporation ('Detour Gold?), located adjacent to Detour
Gold′s Detour Lake gold project in northeastern Ontario. This updated
estimate contained within an open pit shell was completed by Watts,
Griffis and McOuat Limited ('WGM?), Consulting Geologists and Engineers
of Toronto, Canada and complies with National Instrument 43-101 ('NI
43-101?) Standards of Disclosure for Mineral Projects. Trade Winds is
the operator of the Joint Venture exploration program.

Notes:

(1) The mineral resources are classified as indicated and inferred, and
comply with the CIM mineral resource definitions referenced in National
Instrument 43-101.

(2) Base case assumes a gold price of
US$1,000/oz gold and US$ exchange rate of $1.08.

(3) Mineral
resources that are not mineral reserves do not have demonstrated
economic viability.

(4) The quantity and grade of reported inferred
resources in this estimation are conceptual in nature and there has been
insufficient exploration to define these inferred resources as an
indicated or measured resource and it is uncertain if further
exploration will result in upgrading them to an indicated or measured
resource category.

(5) The tonnages and grades quoted are
undiluted. Gold grades were capped at values ranging from 10 g/t to 100
g/t based on statistical analysis.

This mineral resource estimate is an update of the July 2009 Technical
Report by WGM and contains data from an additional 30 diamond drill
holes totaling 11,591 metres completed in 2010. The 2010 drilling
program targeted near-surface gold mineralization of the M Zone regions
with spacing greater than 80 metres within the pit area, as well as
testing the western extension of the modeled pit. A Lerch-Grossman
optimized pit shell was used to generate an updated in-pit mineral
resource.

Ian Lambert, CEO and President of Trade Winds stated: 'This mineral
resource estimate completed by WGM has significantly increased the
indicated category of the gold resource on Block A, which now stands at
1.924 million ounces contained within a US$1,000/oz pit shell, of which
50% is attributable to Trade Winds. This work is a positive step towards
our objective of defining the mineable potential of Block A. As operator
of the Block A project, we plan to proceed with a 30,000 metre drilling
program during the first half of 2011 to increase the confidence level
of the resource estimate and to test areas outside the Block A pit shell
with the objective of expanding the known mineral resources.?

The pit shell crosses the claim boundary on the eastern side of Block A
onto the mining lease held by Detour Gold. The portion of the mineral
resources, which are not included in the mineral resource figures for
Block A above, within Detour Gold′s property includes 218,000 ounces of
gold in the indicated category contained within 7.3 million
tonnes  grading 0.93 g/t Au (capped) and 249,000 ounces of gold in the
inferred category contained within 10.6 million tonnes grading 0.73 g/t
Au (capped), at a gold price of US$1,000/oz gold and a cutoff grade of
0.4 g/t Au.

Gold Price and Cut-off Grade Sensitivity Analysis

A gold price sensitivity analysis was completed applying identical input
cost parameters as the US$1,000/oz base case. Gold prices of US$ 900/oz,
and US$ 1,100/oz were used to create discrete pit shells with
operational cut-off grades of 0.50 g/t, 0.40 g/t and 0.30 g/t Au.
Results of this study are presented below.

Mineral Resource Estimate Parameters and Method

• 
  The block model mineral resources was estimated within a
  Lerch-Grossman pit shell using MineSight ^® software based on
  the concept of a large-scale open pit with the pit parameters
  indicated below. The cost estimates used in the study were compiled by
  WGM utilizing public information from similar operations and from
  various suppliers and contractors.
  

• 
  Detailed metallurgical work is underway for Block A. For the purposes
  of the mineral resource estimate, WGM utilized gold recovery rates
  compiled from public information from Detour Gold and other similar
  deposits.
  
• 
  An overall pit wall angle of 24 degrees for overburden and 48 degrees
  for bedrock were used in the study. This overall angle considered a 37
  metre wide ramp system within the angle calculation. The overall strip
  ratio at the base case of US$1,000/oz gold and a cut-off grade of 0.4
  g/t Au is 4.57.
  
• 
  A three-dimensional (3D) geological and block model was generated
  using GEMS © software. The block model matrix size of 10x15x10 metres
  (width x length x height) was selected with consultation with the
  engineering team from WGM and was based on the size that was deemed
  suitable for an open pit mining scenario. A MineSight ^®
  model was created with the exact parameters for use with the
  Lerch-Grossman algorithm.
  
• 
  The database used for this mineral resource estimate comprised 632
  diamond drill holes totalling 126,542 metres of drilling completed by
  Trade Winds from 2003 to 2010 and 112,464 metres of historical
  drilling completed by Placer Dome and prior operators.
  
• 
  All drill holes are diamond drill core with the majority of the
  samples collected and assayed at approximately 1 metre sample
  intervals.
  
• 
  The composite interval selected was 3 metres downhole.
  
• 
  Densities were determined for representative rock samples using
  industry standard methods. The average value for each domain was
  applied to the block model with a background density of 2.91
  tonnes/metre³ for areas outside the domain boundaries.
  
• 
  Geological rock type coding in the drill hole database led to the
  development of the 3D lithological domain models, which were updated
  in 2010. These domains were utilized in the grade variography studies
  and in the grade interpolation constraints.
  
• 
  For the treatment of outliers, each statistical domain was evaluated
  separately. The statistical domains were capped at values ranging from
  10 g/t Au to 100 g/t Au in combination with search restrictions on
  values greater than 20 g/t Au for some of the domains. The procedure
  used allows the deposit to retain the high grade assays while limiting
  their influence during the interpolation.
  
• 
  Ordinary Kriging was used for all domains and grade interpolation at
  the domain boundaries relied upon the soft/hard boundary determination
  from the statistical grade contact profiles.
  
• 
  The interpolation was carried out in multiple passes with increasing
  search ellipsoid dimensions. Classification for all models was based
  primarily on the pass number followed by an adjustment to the class
  model, based on a diamond drilling density map (core area and at
  depth) and the distance to the closest sample used in the
  interpolation using the variography results for guidance.
  

Quality Assurance and Quality Control ('QA/QC?) Program

The Company has implemented a quality control program to ensure best
practices in sampling and analysis of the core samples. The core is
first logged then sawn in half during the sampling process with the
remaining half being retained for verification and reference purposes.
During sample collection and assaying, there is an established QC
procedure for using standards, duplicates and blanks. It is Trade Winds′
policy that blanks are inserted after high grade gold mineralized
samples, especially those with visible gold. The samples are delivered
in sealed bags direct to ALS-Chemex Laboratories preparation facility in
Timmins, Ontario Canada. Sample pulps are shipped from there to
ALS-Chemex Laboratories in Mississauga Ontario, Canada for analysis.
Trade Winds used Chemex AU-AA24, which is a 50 g fire assay with AA
finish. Samples returning greater than 10 g/t Au were automatically
processed using a fire assay-gravimetric finish. Total metallic assays
for gold were also performed on selected intervals. All sample batches
assayed by Chemex included a standard multi-element ICP package. The
coarse rejects are kept in Timmins for re-assaying purposes for a period
of six months and then returned to the Trade Winds site where they are
stored in a locked shipping container at the exploration site.

NI 43-101 Compliant Report

The mineral resource estimate block model was completed by Pierre
Desautels, P.Geo, a Senior WGM Associate Geologist. The Lerch-Grossman
pit shells and final mineral resource estimates were completed by Gordon
Zurowski P.Eng, a Senior WGM Associate Mining Engineer. The material in
this news release has been reviewed and approved by Mr. Desautels and
Mr. Zurowski of WGM, both Qualified Persons as defined by NI 43-101 and
by Stephen Wallace, P.Geo, Senior VP Exploration of Trade Winds, also a
Qualified Person as defined by NI 43-101. The complete NI 43-101
Technical Report will be filed on SEDAR at www.SEDAR.com
within 45 days.

Visit our Website at www.tradewindsventures.com

Forward Looking Information

Certain information included in this news release constitutes
'forward-looking statements'. The words 'expect', 'will', 'intend',
'estimate' and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. The Company cautions the
reader that such forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause the actual
results, performance or achievements of the Company to be materially
different from the Company's estimated future results, performance or
achievements expressed or implied by those forward-looking statements
and the forward-looking statements are not guarantees of future
performance. These risks, uncertainties and other factors include, but
are not limited to, risks associated with the mining industry such as
government regulation, environmental and reclamation risks, title
disputes or claims, success of mining activities, future commodity
prices, costs of production, possible variation in mineral reserves,
mineral resources, grade or recovery rates, failure of plant, equipment
or processes to operate as anticipated, accidents, labour disputes, the
timing of estimated future production, capital expenditures, financial
market fluctuations, requirements for additional capital, conclusions of
economic evaluations, limitations on insurance coverage, risks
associated with using third-party contractors and inflation. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by applicable law.

Information Concerning Estimates of Mineral Resources

This news release uses the terms 'indicated' and 'inferred' resources.
The Company advises investors that although these terms are recognized
and required by Canadian regulations (under National Instrument 43-101
Standards of Disclosure for Mineral Projects), the U.S. Securities and
Exchange Commission does not recognize them. Investors are cautioned not
to assume that any part or all of the mineral deposits in these
categories will ever be converted into reserves. In addition, 'inferred
resources' have a great amount of uncertainty as to their existence, and
economic and legal feasibility. It cannot be assumed that all or any
part of an inferred mineral resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of inferred mineral resources
may not form the basis of feasibility or pre-feasibility studies, or
economic studies except for Preliminary Assessment as defined under
43-101. Investors are cautioned not to assume that part or all of an
inferred resource exists, or is economically or legally mineable.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.