Bridgeport Ventures Inc.
TSX VENTURE : BPV

Bridgeport Ventures Inc.

February 04, 2010 09:40 ET

Bridgeport Ventures Inc. Expands Rosario Land Position in Chile

TORONTO, ONTARIO--(Marketwire - Feb. 4, 2010) - Bridgeport Ventures Inc. (TSX VENTURE:BPV) ("Bridgeport") is pleased to announce that it has concluded an agreement to acquire a 100 per cent interest in the Simonetta property through its Chilean subsidiary Rio Condor, S. A.

The 71 hectare property is located in Region III of Chile, near the mining centre of Copiapo. It is adjacent and to the east of Bridgeport's Rosario, Tamara and Soesmi properties and is located in a similar geological environment. Copper oxide ores have been mined from numerous pits on the Simonetta property.

Hugh Snyder, Chairman of Bridgeport stated, "Mineralization on the Simonetta property confirms the eastward extension of copper mineralization from Rosario for at least 600 metres and represents an important step towards consolidating the company's land position around the Rosario structure."

Under the terms of the agreement with the property owners, Bridgeport will pay US $1 million over four years to acquire a 100 per cent interest in the Simonetta property of which US $30,000 was paid on closing. This acquisition is royalty free.

Exploration on the Simonetta property will commence later this month, as part of the exploration program that the company undertook last month on its Rosario, Tamara and Soesmi projects. A drill rig has been contracted to commence drilling in early March and construction of drill pads has commenced.

About Bridgeport Ventures

Bridgeport Ventures (TSX VENTURE:BPV) is a Canadian mineral exploration company with operations in Latin America. Its strong technical team with local experience has a solid record of discovery and a proven history of mining success. Additional information on Bridgeport Ventures can be found at: www.bridgeportventures.net.

Potential quantity and grade are conceptual in nature. To date, there has been insufficient exploration drilling to define a mineral resource on the property referenced above, and it is uncertain if further exploration drilling will result in a mineral resource being defined in this area.

Certain information set forth in this new release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. There forward-looking statement are subject to numerous risks and uncertainties, certain of which are beyond the control of Bridgeport, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, depending upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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.

Contact Information