Breakwater Exercises Right of Purchase Under Myra Falls Mine

Breakwater Exercises Right of Purchase Under Myra Falls Mine Limited Partnership

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TORONTO, ONTARIO--(Marketwire - March 25, 2008) - Breakwater Resources Ltd. (TSX:BWR) has exercised its right to purchase the interests of the limited and general partners of the Myra Falls Mine Limited Partnership (MFML Partnership) for approximately $18 million (90.9% of the $20 million contribution to the Qualifying Environmental Trust (QET)). Breakwater has elected to purchase the interest by issuing 13,518,739 common shares of Breakwater at $1.3448 which, pursuant to the agreement, is the 20-day weighted average trading price of Breakwater's common shares on the Toronto Stock Exchange the day before the exercise of the right.


Pursuant to the joint venture entered into with the limited partners of the MFML Partnership in December 2007, the MFML Partnership was entitled to a 3% net smelter royalty from the Myra Falls mine. The MFML Partnership deposited $20 million with a trustee into a QET as security for a portion of the reclamation obligations of NVI Mining Ltd., a wholly-owned subsidiary of Breakwater, which owns the Myra Falls mine.


The common shares of Breakwater to be issued as part of the exercise of its rights are not freely tradeable until April 21, 2008.


Breakwater is a mining, exploration and development company which produces and sells zinc, copper, lead and gold concentrates to customers around the world. The Company's concentrate production is derived from four mines. Two of Breakwater's mines are located in Canada, one is located in Chile and one is located in Honduras.



FOR FURTHER INFORMATION PLEASE CONTACT:

Breakwater Resources Ltd.
Dave Langille
Vice President, Finance and Chief Financial Officer
(416) 363-4798 Ext. 236




or

Breakwater Resources Ltd.
Ann Wilkinson
Vice President, Investor Relations
(416) 363-4798 Ext. 277

Volatility? This is nothing

Volatility? This is nothing

Monday, March 24, 2008

Here's an idea that should make you feel good about the current bout of volatility that has gripped stock markets: It is actually a return to normal, after a long period of low volatility.
According to Bespoke Investment Group, 44 of the last 90 trading days have seen the S[amp]amp;P 500 move up or down by 1 per cent. And 15 of the last 90 trading days have seen moves of 2 per cent.

Strange days. But Bespoke compared this volatility to other periods and found it is not so unordinary. The number of 1 per cent days hit 64 out of 90 trading days in 2002, 56 out of 90 trading days in 1988, and 54 out of 90 trading days in 1974. These periods also saw far more days of 2 per cent swings as well.

“The reason why so many people are so frantic about volatility is because it was extremely low preceding the current period,” Bespoke said on its blog, noting that it was rare to see a 1 per cent day from about 2004 to 2007. As for 2 per cent days, they simply did not exist during this period.

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