Reservoir Capital Corp.

Reservoir Capital Corp.

November 06, 2007 08:00 ET

Reservoir Awarded Exploration Permit for the Parlozi Lead-Zinc-Silver Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 6, 2007) - Reservoir Capital Corp. ("Reservoir" or "the Company") (TSX VENTURE:REO) is pleased to announce the granting of a new ninety-one square kilometre exploration permit over a historical lead-zinc-silver resource in the Kosmaj-Babe area of the Sumadija mining district, central Serbia.

The mineralization in the Permit area is described as silver-bearing vein and replacement-type zinc and lead sulphides hosted by carbonate sedimentary rocks associated with intrusive Neogene quartz-latite dykes and volcanic breccias. This type of mineralization has long supported zinc-lead-silver mining operations at Trepca and other mines in Serbia.

Exploration work in the Permit area during the 1970's and 1980's by State-controlled companies of the Former Yugoslavia focussed on the Parlozi deposit, and included 39 deep drill holes (15,105 meters), airborne and ground geophysical surveys, and detailed geological and mineralogical studies. Based on this work, the Serbian mineral deposit database quotes a historical resource estimate of 6.5 million tonnes at an average grade of 4.1% lead, 2.1% zinc, 0.3% copper and 130 g/t silver within the Permit area. This resource estimate is not compliant with National Instrument 43-101, but is considered by the Company to be relevant.

The Company is in the process of acquiring, compiling and evaluating past historical data in order to plan verification and exploration drilling for estimation of a compliant resource.

The Exploration Permit is valid through 21.08.2008 but may be extended for subsequent years on application with annual report and work programme.

Quality Control

Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, is responsible for the preparation of the technical information in this release.

About Reservoir

Reservoir is a South East Europe focused natural resources company, currently exploring for gold and base metals on eight exploration properties in Serbia and actively seeking new business opportunities. Reservoir's common shares trade on the TSX Venture Exchange under the symbol "REO".

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Reservoir Capital Corp.
    Miljana Vidovic
    (604) 662-8448
    Reservoir Capital Corp.
    Miles Thompson
    (604) 662-8448
    Reservoir Capital Corp.
    Kim Casswell
    Corporate Secretary
    (604) 662-8448
    (604) 688-1157 (FAX)