Discovery Harbour Resources Corp.
TSX VENTURE : DHR

Discovery Harbour Resources Corp.

August 11, 2014 09:00 ET

2BAR Project-Nevada-Discovery Harbour Develops New Targets Resulting From Soils Grid Sampling...

...Detailed Airborne Magnetic Gradiometer Survey Underway, Drilling Planned After Airborne Data Evaluated

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 11, 2014) - Discovery Harbour Resources Corp ("DHR" or the "Company") (TSX VENTURE:DHR) is pleased to announce that it has received the results from the analysis of residual soil samples collected from all claims and monument corners of the new unpatented claims block on the 2BAR Project in west-central Nevada. A total of 144 samples were collected over the claims area (approximately 1,024 acres or seven acres per sample). The existing patented claims that contain the surface outcrops and workings were not sampled during this program.

New targets have been identified that are not associated with the projected strikes and dips of the ore-grade mineralization that is exposed in outcrops and trenches within the property. (See DHR press release dated July 16, 2014). In addition to the known mineralization, four new copper-in-soil targets have been identified within the DHR claim group. The copper values range from 1.01ppm to 404ppm (over 10 times the background of 37.5ppm - see tabulations below). Interestingly, one of the new copper-in-soils anomalies is coincident with strong tungsten-molybdenum-gold responses. This is suggestive of a possible buried porphyry system within the claims area. This wide sample spacing (7 acres per sample) allows for the possibility of additional anomalies to present.

Contour images of these geochemical results will be posted on the Company's website as they become available. The new targets will need ground follow up for sampling and mapping of outcrops proximal to the anomalous sample site locations.

Background values were calculated as an average of all sample assays and are:

  • Copper - 37.5 ppm,
  • Silver - 0.11 ppm (g/t),
  • Zinc - 82.3 ppm,
  • Gold - 0.003 ppm (g/t)
  • Molybdenum - 1.22 ppm
  • Tungsten - 0.56 ppm.

Minimum values obtained for these elements are:

  • Copper - 1.01 ppm,
  • Silver - 0.007 ppm,
  • Zinc - 14.2 ppm
  • Gold - 0.0004 ppm,
  • Molybdenum - 0.22 ppm,
  • Tungsten - 0.052 ppm

Maximum values obtained for these elements are:

  • Copper - 404 ppm - 10.8 times background,
  • Silver - 1.425 ppm (g/t) - 12.95 times background,
  • Zinc - 399 ppm - 4.85 times background,
  • Gold - 0.03 ppm (g/t) - 10 times background
  • Molybdenum - 56.8 ppm - 46.6 times background,
  • Tungsten - 5.62 ppm - 9.4 times background.

Additionally, the Company is pleased to announce that the airborne magnetic gradiometer survey in Nevada began on August 10. The survey is due to be completed by August 16th.

The Company is excited to have identified new targets through its soil geochemical survey. It plans to follow these up in conjunction with the results from the airborne magnetic survey. The data produced from these preparatory surveys are integral to the planning of the drilling program. Tentatively, the drilling program is scheduled to start end-September, 2014.

Bruno Hegner, President & CEO of the Company states; "Our due diligence review of both the project area and the regional potential suggested that this portion of the Stillwater Range is underexplored and has not been exposed to systematic or modern exploration techniques. The review also suggests that the identification of additional, buried mineralization is probable. We are pleased with these new results, bolstering the diligence findings and are excited to receive the results from the airborne survey which will assist in determining the program's direction. Drilling will be designed to test the ore grade surface mineralization at depth, along strike and dip of the outcropping occurrences and a more regional mapping and sampling program will be initiated as soon as practical."

The analysis of the samples was performed at ALS Global using standard preparations for soils and rock samples. All samples were analyzed using aqua regia and weak acid digestion, code # ME-MS41L (51 element). Soil samples were collected, bagged, labeled and hand-delivered to ALS in Reno by Carlin Trend Mining Services.

Michael J. Senn, a licensed professional geologist, is the Qualified Person for Discovery Harbour Resources as described in National Instrument 43-101 and has reviewed and approved the technical contents of this release.

ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.

"Bruno Hegner"

Frank D. Hegner

President, CEO, and Director

Disclaimer for Forward-Looking Information

Certain information regarding the Company contained in this press release may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, opinions, forecasts, projections or other statements that are not statements of fact. Although the Company believes that expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees.

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.

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