SOURCE: Amarok Resources, Inc.

February 22, 2010 21:00 ET

Amarok Resources Signs Exploration Agreement for 75% Interest in Carlin Trend Gold Property

RANCHO SANTA MARGARITA, CA--(Marketwire - February 22, 2010) - Amarok Resources, Inc. (OTCBB: AMOK) (the "Company" or "Amarok") is pleased to announce it has entered into an agreement with Carlin Gold Resources, a private company, to acquire a 75% interest in the Rodeo Creek property (the "Property") located on the northern portion of the world famous Carlin Gold Trend, thirty miles northeast of Carlin, Nevada. As per the terms of the agreement Amarok agrees to invest USD $1.5 million in exploration on the property on or before December 31, 2010. An additional expenditure of USD$4.0 million is required to be spent on or before December 31, 2012 to earn its interest in the property.

The property comprises 29 contiguous mineral claims covering an area of 547 acres (221 hectares) and is strategically located 1 mile northwest of Barrick Gold Corp's Storm deposit, 3 miles northwest of Centerra Gold's REN property and on strike with other major gold mines such as the Post Betze (Goldstrike), which contains over 40 million ounces of gold, Newmont's Gold Quarry mine with 16.7 million ounces and Barrick's Meikle mine with a reported 7 million ounces of gold.*

The Carlin Trend is the most prolific gold area in North America, and hosts as many as thirty gold producing mines and development projects, on which over 100 million ounces of gold production and inventory have been identified.

Amarok Resources, Inc. is a US based exploration and development Company, focusing on the acquisition and development of Gold and Silver projects which demonstrate high probability for near term production. Amarok is a fully reporting public company quoted on the OTCBB under the symbol AMOK.

*Nevada Bureau of Mines and Geology.; Bulletin 111, 2002

Statements released by Amarok Resources, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.

Visit the Amarok Resources, Inc. web site at www.amarokresources.com. Information included on the Company's website is not incorporated herein by reference or otherwise.

Contact Information

  • For additional information please contact:

    Amarok Resources, Inc.
    30021 Tomas Street, Suite 335
    Rancho Santa Margarita, CA 92688
    Telephone: 949-682-7889
    Email: info@amarokresources.com