Adventure Gold Inc.

Adventure Gold Inc.

April 29, 2009 09:00 ET

Adventure Gold Discovers a New Gold Showing on Pascalis-Colombiere: 4,000-Meter Drill Program Underway

MONTREAL, QUEBEC--(Marketwire - April 29, 2009) - Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company"), a mining exploration company with strategic properties in the Val d'Or region of Quebec and in the Timmins region of Ontario, announces the discovery of a new gold showing and releases an update on exploration drilling.


- The Company's exploration team discovered a new gold showing returning results up to 12.4 g/t Au on its Pascalis-Colombiere property. Historical showing sampling on the property returned values up to 73.5 g/t Au (grab samples);

- Drilling for a total of 681 meters around the Senore property's new Zone 16 (8.7 g/t Au over 1.2 meters, at less than 20 meters deep) discovered earlier this year (press release dated February 26, 2008), was completed at the end of March. Interpretation is ongoing and results will be released soon;

- A 2,000-meter drill program designed to test near surface gold showings and to follow-up on historical economic gold drill intersections with open extensions, is underway on the Pascalis-Colombiere property;

- A 1,400-meter drill program designed to test IP anomalies and identifying gold structure extensions is planned for later this spring on the Meunier-144 property. This property is located 1 kilometer west of the Timmins Gold Project (Indicated 1.3 million tonnes at a grade of 16.5 g / t Au uncut), owned by Lake Shore Gold, in a new emerging gold district (see Adventure Gold website for the property location).

Pascalis-Colombiere: new discovery and exploration work

The 100%-owned Pascalis-Colombiere property consists of 33 mining claims totalling 637 hectares which encompasses the former producer Lucien C. Beliveau Mine (167,000 ounces of gold produced, Cambior 1993). The property is located in the eastern portion of the highly productive Val-d'Or mining camp, 1.5 kilometers east of the producing Beaufor Gold Mine, operated jointly by Richmont Mines and Louvem Mines. The geological setting of the property appears very favourable for the identification of new high-grade gold-bearing veins and structures or bulk-style ore shoots. Past exploration work did not entirely test the numerous gold occurrences located in the N-S extensions of the former producer Lucien C. Beliveau Mine associated with dyke set or in other parallel dykes, or in the extension of ENE trending shear zones. Due to the anticipated closure of the Mine in October 1993, there was no follow-up on several drill intercepts with economic gold values. No further exploration work was completed on the property between 1993 and mid-2008 when the Company acquired the property.

Following the integration of 676 historical diamond drill holes for 77,000 meters and the elaboration of a new geological model, an exploration program including mechanical trenching and drilling was proposed. The main objective of this exploration program is to test ENE gold structures developed within NNW mafic dykes and volcanic rocks.

Late in 2008, mechanical trenching was carried out over a 30m2 sub-cropping zone located 800 meters south of the Lucien C. Beliveau mine to uncover an ENE gold-rich shear zone. The Pascale gold Showing is characterized by several separate decimetric quartz-pyrite veins hosted in an 8-meter thick shear zone in mafic volcanics. At this early stage, the new gold zone was sampled along a NNW direction at each meter. From the 8 rock samples collected on the Pascale Showing, 3 yielded assay results ranging from 1.6 g/t Au to 12.4 g/t Au. This new gold discovery has never been tested by drilling. A historical drill hole collared 75 meters north from the new showing intersected 7.4 g/t Au over 1.8 meters at a depth of less than 25 meters.

In fall 2008, three historical gold showings (Highway, No-2 and Isabella) were prospected and sampled by the Company. During a field program conducted on selected areas, 35 rock samples were analyzed and results are presented in Table 1.

Table 1: Assay results from the fall 2008 Pascalis-Colombiere prospecting program.

Showings UTM East UTM North
(Nad83Z18) (Nad83Z18) Au (g/t)
Highway 311988 5335819 0.1
311988 5335819 18.0
1.1 km north-west of the 311989 5335820 0.3
shaft of the former 311989 5335820 5.2
gold producer L.C. 311990 5335819 Tr
Beliveau 311990 5335823 0.5
312990 5334632 9.4
No-2 312990 5334632 Tr
312989 5334631 40.7
450 metres south-east of 312989 5334631 2.4
the shaft of the former 312989 5334631 5.3
gold producer L.C. 312986 5334637 73.5
Beliveau 312989 5334636 0.1
312997 5334627 3.2
313007 5334627 0.1
313007 5334627 0.2
312999 5334627 0.5
312994 5334619 Tr
312990 5334621 3.2
312986 5334626 7.7
Isabella 313179 5334688 10.6
313177 5334696 0.3
450 metres south-east of 313177 5334696 Tr
the shaft of the former 313177 5334693 15.8
gold producer L.C. 313177 5334693 12.1
Beliveau and 200 metres to 313178 5334692 17.2
the east-north-east of 313177 5334691 4.7
the No-2 Showing
Pascale 313148 5334352 0.5
313149 5334351 0.2
313149 5334350 0.1
800 metres south-east 313150 5334349 1.6
of the shaft of the former 313150 5334348 12.4
gold producer L.C. 313151 5334347 3.0
Beliveau 313151 5334346 0.2
313153 5334344 Tr

The 2,000-meter drill program recently initiated on Pascalis-Colombiere will test at least three high-priority targets including the Highway, the No-2 and the new Pascale showings. The Highway showing, located 1 kilometre northwest from the mine, contains significant stackings of quartz-tourmaline-pyrite gold veins which were followed from the surface to 110 meters at depth. Best historical drilling intersections have returned: 11.4 g/t Au /3.8m (Hole 59-24A), 11.5 g/t Au /5.3m (91-H-13) and 11.7 g/t Au /3.0m (COL-88-10). The gold system remains open laterally to the east and below 110 metres deep. The gold mineralization is associated to a 100-metre thick magnetic mafic dyke that can be followed by geophysics over a length of 900 metres towards the north-east. At the No-2 Showing, historical drill holes have cut significant gold intercepts from the surface to a depth of 80 meters: 9.1 g/t Au /4.4m (83-27), 9.8 g/t Au /4.7m (83-32) and 4.8 g/t Au /5.0m (91-543). The No-2 Showing is located 450 meters south of the mine and in the same geological environment. The down plunge of the gold veins stacking system remains untested.

Marco Gagnon declared: "We are very excited to start our first exploration drill program in the vicinity of the former producer Lucien C. Beliveau on the Pascalis-Colombiere property. The drilling of high-quality targets inside proven areas is a key aspect of our exploration strategy."

Jules Riopel P.Geo. Vice-President Exploration and Acquisitions, who acts as the Company's "Qualified Person" as defined by NI 43-101, has reviewed this press release and will supervise the ongoing drill program. Assay samples taken during the prospecting program were sent to ALS Chemex of Val d'Or, QC, a commercial laboratory for analysis.


Adventure Gold Inc. is a mining exploration company focused on discovering high-quality gold deposits in the Abitibi greenstone belt located in north-west Quebec and north-east Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val-d'Or, Quebec and Timmins, Ontario areas and is led by a determined management and technical teams with extensive exploration and mine production experience. The Company will be active in 2009 with $1,150,000 slated for exploration in the Val-d'Or and Timmins regions and will continue to aggressively seek new properties in compliance with the corporate strategy.

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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