Explor Resources Inc.
TSX VENTURE : EXS

Explor Resources Inc.

October 03, 2007 16:25 ET

Explor Resources Inc.: Acquisition of the East Bay Property Extension

ROUYN-NORANDA, CANADA--(Marketwire - Oct. 3, 2007) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the acquisition seventeen (17) Mineral Claims representing approximately 293.5 hectares situated in Duparquet Township in the Rouyn-Noranda mining district, province of Quebec.

THE AGREEMENT

Explor Resources inc., will issue 51,429 common shares to acquire an 100% interest in the East Bay Property Extension. The Optionees have retained a 2.0% NSR in the property.

THE PROPERTY

The East Bay Property Extension is located in the western central part of Duparquet township approximately 1.0 km west of the town of Duparquet, Quebec. Excellent access is provided by a paved road that connects the highway 101 from Matheson Ontario, to Rouyn-Noranda, Quebec to the property approximately 2.0 km off the highway. The property consists of 17 mining claims covering an area of approximately 293.5 hectares. The most obvious topographical feature in the area is Beattie Island in Lac Duparquet. This will increase the East Bay Property to 541.5 hectares.

GEOLOGICAL CONTEXT & MINERALIZATION

The mineralization on the East Bay Extension property is interpreted to be similar to that exposed on Beattie Island within Lac Duparquet and is hosted within the Destor Theolitic Unit of the Blake River Group. Mineralization is associated with interflow volcanic sediments between andesite flows and dioritic sills. The alteration consist of silicification, carbonization and considerable sulphide enrichment.

This property is located approximately 0.5 km directly to the west of the former Consolidated Beattie and Donchester gold Mines which produced over 1.0 million oz of gold between 1933-1956. The mineralization appears to be located in a splay off the Porcupine Destor Fault Zone.

Explor plans on conducting a two phase exploration program. Phase I is designed to better determine the location of the structural targets via magnetic and VLF geophysics. Phase II will consist of diamond drilling the identified target or targets.

Chris Dupont P.Eng is the qualified person for Explor Resources Inc.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec and Saskatchewan. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Company is headquartered in Quebec and was incorporated in Alberta in 1986.

Explor Resources Inc. is a public listed company trading on the TSX Venture (EXS)

This press release was prepared by Explor Resources inc. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Explor Resources Inc.
    Christian Dupont
    President
    800-388-8668 or 819-797-4630
    or
    CHF Investor Relations:
    Cathy Hume
    Chief Executive Officer
    416-868-1079
    cathy@chfir.com