Encore Renaissance Resources Corp.

Encore Renaissance Resources Corp.

September 30, 2009 03:40 ET

Encore Renaissance Resources Acquires 6,660 Contiguous Acres in the Stewart Mining Camp of British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 30, 2009) - ENCORE RENAISSANCE RESOURCES CORP. (TSX VENTURE:EZ)(FRANKFURT:OUH1)(PINK SHEETS:ERRCF) Encore Renaissance Resources Corp. (the "Company") wishes to announce that it has entered into an option agreement with an arms length vendor to acquire 6 contiguous claim blocks consisting of 2695 hectares (approximately 6,660 acres) in the Stewart Mining Region of British Columbia Canada. These claims are in the vicinity of the recent discovery made by Decade Resources Ltd. and Mountain Boy Minerals on its Red Cliff property. Decade Resources Ltd. and Mountain Boy Minerals recently announced (Sept. 3, 2009) drilling results of 7.3 grams per ton of gold across 28.3 metres and 5.78 grams per ton across 28.4 metres and 7.5 grams per ton gold across 32.5 metres.

Michael Mulberry, President of Encore comments, "We are happy to be able to add this prospect to our core assets. The Stewart mining region of BC has been the site of some significant discoveries in the past and with the recently discovery of Decade and Mountain Boy, the investor sentiment for this area has been magnified. There has been a staking rush on the area since the Decade discovery and we are please to be able to get a good sized land position at this time. Also, operations on our flagship gold property, the Bonaparte property located near Kamloops, B.C., Canada are progressing and we look forward to receiving the first revenue cheque from Kinross within the next 30-60 days at a time of near all-time highs on gold."

Encore will pay the vendor, $50,000 cash, and issue 3,000,000 shares of Encore and grant a 3-per-cent net smelter return royalty, with an option to buy back 1 per cent for $1-million. The company also agrees to spend $250,000 by September 30, 2010, and an additional $250,000 by September 30, 2011, as a work commitment. This transaction is subject to TSX Venture Exchange approval.

Schedule of payments would be:

- $25,000 and 1,500,000 shares on exchange approval

- $25,000 and 1,500,000, shares within twelve months of TSX Venture approval.

Recently Encore reported that the company has commenced the shipment of gold mineralized rock from the Bonaparte Gold Mine site. The custom mill processing will be completed at Kinross Gold's mill in Washington State. The mineralized material will be trucked from the Bonaparte Property to the Kinross facilities at Republic, Washington, where it will then be processed through that mill's, cyanide, carbon in-leach, precious mineral extraction circuit. Scheduling of Encore's processing is expected to be completed shortly with the first payment expected right after that. Approximately 1000 tonnes of mineralized quartz vein rock with high sulphide content has been extracted from the open pit mining phase of the vein.

Encore, which has earned a 51-per-cent interest in the property to date, has the right to earn up to 60 per cent in the Bonaparte property by conducting the bulk sample and a proposed drilling program, which will enable the company to delineate the mineralization on the property. The Bonaparte property is located near Kamloops, British Columbia. Encore also has approximately 5,200 contiguous acres bordering Underworld Resources in the Yukon, approximately 160,000 contiguous acres of land prospective for lithium in Alberta, and now 6,660 acres of land in the Stewart Mining Region of British Columbia.

If you would like to be added to Encore's news distribution list, please send your email address to info@encorerenaissance.com.

This release has been reviewed by Laurence Stephenson P.Eng. the designated Qualified Person.

On behalf of the Board of Directors

Michael Mulberry, President and Director

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the content of this press release.

Contact Information

  • Encore Renaissance Resources Corp.
    Michael Mulberry
    President and Director
    Email: info@encorerenaissance.com
    Encore Renaissance Resources Corp.
    Head Office Address
    PO Box 48474, Bentall Centre
    Vancouver, BC
    Canada V5C 2M7
    Website: www.encorerenaissance.com