Everton Resources Inc.

Everton Resources Inc.

February 24, 2010 08:30 ET

Everton and Linear Release First Drill Results From a New Discovery: Pon Hill Zone, Ampliacion Pueblo Viejo Concession, Dominican Republic

OTTAWA, ONTARIO--(Marketwire - Feb. 24, 2010) - Everton Resources (TSX VENTURE:EVR)(FRANKFURT:EVR) and its partner Linear Gold Corp. (TSX:LRR) are pleased to announce the results received from three drill holes at La Lechoza Prospect, Ampliacion Pueblo Viejo concession, Dominican Republic.

Results from two drill holes APV10-06 and APV10-07 are significant, coming from a new discovery called the Pon Hill Zone, some 450 meters southwest of the main North Hill Zone site at La Lechoza Target.

Initial drill hole assays for Pon Hill show near surface mineralization for gold, silver and copper while assays for subsequent delineation drill holes APV10-08 to APV10-12 are still pending.

Pon Hill was discovered by geologic mapping and systematic deep soil auger sampling (approximately three meters deep). This sampling yielded values up to 4.7 g/t gold, 5.8 g/t gold and >100 g/t silver in rocks, and 3.8 g/t gold in soils.

"These early results from our Pon Hill discovery add further confirmation to La Lechosa's robust potential for resource development," said Everton Chairman and CEO, Andre Audet.

"As we await a more complete analysis of the length, depth and scope of the Pon Hill field, we see nothing but positives in terms of meeting our overall business development objectives in the Dominican Republic," he said.

For detailed map information, please visit www.evertonresources.com

Highlights for these three holes are listed in the table below:

APV10-05 North Hill
    From (m) To (m) Length (m) Au (g/t) Ag (g/t) Cu (%) Zn (%)
    26.50 65.00 38.50     0.55  
  Incl. 27.50 33.50 6.00     1.10  
APV10-06 Pon Hill
    From (m) To (m) Length (m) Au (g/t) Ag (g/t) Cu (%) Zn (%)
    8.35 24.50 16.15 0.51      
  Incl. 8.35 11.50 3.15 1.77      
  Incl. 8.35 10.50 2.15   90.49    
    5.40 29.60 24.20     0.57  
  Incl. 12.50 15.60 3.10     2.05  
    5.40 45.50 40.10       1.04
  Incl. 14.25 15.60 1.35       17.53
APV10-07 Pon Hill
    From (m) To (m) Length (m) Au (g/t) Ag (g/t) Cu (%) Zn (%)
    5.00 24.50 19.50 0.60 >43.3*    
  Incl. 8.00 9.50 1.50 2.83      
  Incl. 9.50 12.00 2.50   >250.0*    
    5.00 21.50 16.50     1.10  
  Incl. 12.50 21.50 9.00     1.79  
  Incl. 12.50 16.00 3.50     2.12  
    12.50 29.00 16.50       0.94
  Incl. 15.00 21.50 6.50       1.74
* Over-limit assay finish pending

To date, the third phase of the drill program has completed twelve drill holes for a total of 957 meters. Assay results for holes APV10-08 to -12 are still pending. Values up to 11.19 g/t gold, >300 g/t silver, 7.9% copper and 18.8% zinc have been obtained from unit intervals in this drilling program. Hole APV10-05 reported in this release is located on the main North Hill Zone at La Lechoza while holes APV10-06 and APV10-07 are from a newly discovered sector of the property known as the Pon Hill Zone. Further, a limited ground geophysics IP survey conducted in 2003 by Linear Gold shows a significant anomaly under the hill hosting the Pon Hill Zone. Mineralized outcrops on surface are associated to siliceous and argillic gossanous floats and blocks, red ferruginous jasper and silicified basaltic volcanics. Field observations suggest that part of the mineralization would be covered by barren volcanics. The mineralization occurs along the margins of a contact with dioritic intrusions, believed to be related to a major tonality intrusive body. These intrusions have been proven to be coeval with the Los Ranchos volcanic units and are genetically related to these volcanics and to the mineralization at the Pueblo Viejo deposit. Mineral phases identified in this zone include pyrite, sphalerite, chalcopyrite, covellite, chrysocolla, malachite, azurite, chalcocite, native gold, native copper, argentite, arsenopyrite, magnetite and hematite.

In the southern sector of the Ampliacion Pueblo Viejo concession adjacent to the Barrick/Goldcorp's Pueblo Viejo deposits, a mineral systematic field program using PIMA (Portable Infrared Multispectral Analyzer spectrometer) is underway to model the hydrothermal alteration patterns in order to orient further drilling at the extensive alteration lithocap at Loma La Cuaba and Arroyo Hondo.

This press release was prepared by Marc L'Heureux, P. Geo. and VP Exploration of Everton, who acts as Everton's Qualified Person as defined by NI 43-101.

Everton is actively exploring in the Dominican Republic adjacent to the US$2.7 billion Pueblo Viejo project, currently being developed by the world's largest gold mining company, Barrick Gold Corporation (60%) (NYSE:ABX)(TSX:ABX) in partnership with Goldcorp (40%) ("Goldcorp") (NYSE:GG)(TSX:G). Pueblo Viejo is estimated to contain 22.4 million ounces of gold, 455 million pounds of copper and 131.3 million ounces of silver. Everton also holds through its 100%-owned subsidiary Hays Lake Gold various options consolidated land package located in the Shoal Lake area, near Kenora, Ontario. The Shoal Lake Gold Project is comprised of two significant high grade gold deposits: Duport and Cedar Island on 81.3 km2. The Company is also exploring in the Opinaca region of James Bay, Quebec where the Company has amassed one of the largest land claims adjacent to Goldcorp's Eleonore gold deposit, which currently hosts an estimated total mineral resource of 9.4 million ounces of gold.

This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Everton's plans, objectives, strategies, expectations and intentions. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to Everton, or its management, are intended to identify such forward-looking statements. Many factors could cause Everton's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this press release represent Everton's views as of the date of the release. While Everton anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements. All subsequent written and oral forward-looking statements attributable to Everton or persons acting on its behalf are expressly qualified in their entirety by this notice. 

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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