Crazy Horse Resources Inc announced that new pre feasibility metallurgical test work results received from AMEC Minproc, the lead consultant for the pre feasibility study for the Company's Taysan Copper and Gold Porphyry Project in Batangas Province on Luzon Island in the Philippines show average metallurgical recovery of magnetite of 91% at magnetite grades of 3.58% which is the average grade over the 15 year mine life of the 15 million tonne per annum project.

The 91% recovery is a substantial improvement on the Scoping Study magnetite recovery of 51%, thereby leading to increased tonnages of magnetite produced and improved project economics. The Scoping Study is summarized in a NI 43-101 compliant technical report dated December 16th 2011 and entitled Revised Preliminary Economic Assessment for a 15 Million Tonne per Annum Mine authored by Barton Metals Private Limited of Australia and filed on SEDAR.

With the increased recovery, the Taysan Project will produce an annual average of 483,000 tonnes magnetite concentrate compared to the 273,000 tonnes previously assumed in the Scoping Study. As a result of the higher magnetite recovery, the after tax IRR increases from 29.3% to 33.6% and the NPV at a 10% discount rate, rises from USD 484 million to USD 609 million, thereby further improving profitability and enhancing the robustness of and ability to finance the Taysan Project.

AMEC Minproc have concluded from the recent test work results that the iron grade in the magnetite concentrate is unaffected by variation in the magnetite head grade above 1% which means that the concentrate grade remains constant for the expected range of magnetite content of the ore. The results point to a high grade 68.37% iron content and a clean concentrate with low deleterious elements qualities that will enhance the ability to market the product.