Bearing Resources Ltd.

TSX VENTURE : BRZ


Bearing Resources Ltd.

October 22, 2012 09:00 ET

Bearing Announces Results From and Return of the Zymo Copper-Gold Project, BC

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2012) - Bearing Resources Ltd. ("Bearing", or the "Company") (TSX VENTURE:BRZ) announces the drill results for the Company's 2,322 metre (7 hole) drill program completed on the Zymo Copper-Gold Project ("Zymo") located 45 kilometres west of Smithers in British Columbia. This is a second phase of exploration by Bearing that initially began in 2011 and that has included diamond drilling, property wide prospecting, and targeted soil geochemistry and geophysics. After a thorough review of the results the Company has elected to relinquish its option to earn a 65% interest in the project from Eastfield Resources Ltd.

Details of the recent drilling are presented below. Drill intervals reported are core lengths and true widths are not known. Copper equivalent calculations do not take into account metallurgical recoveries and are based on in-ground metal using metal prices of US$1,200/ounce for gold and US$2.50/pound for copper.

Hole ID Target From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Cu
(%)
Ag
(g/t)
CuEq
(%)
ZY12-29 FM Lost at 27 m
ZY12-29B FM 114 258 144 0.08 0.16 0.22
ZY12-30 RD 177 180 3 0.22 0.19 47.9
including 231 234 3 0.99 0.91 72.8
ZY12-31 RD No sig. results
ZY12-32 Hobbes 6.3 300 293.7 0.16 0.21 0.32
Including 6.3 180 173.7 0.20 0.26 0.40
ZY12-33 Hobbes No sig. results
ZY12-34 Hobbes 9 306 297 0.07 0.12 0.17
including 219 306 87 0.08 0.15 0.21

Drill core was sampled in three-metre intervals and cut with a diamond saw with one-half of the core placed in sealed plastic bags and delivered to Acme Analytical Laboratories Inc. ("Acme") in Smithers for crushing and pulverizing. Sample pulps were then analysed by Acme in their Vancouver lab following aqua regia digestion by ICP-MS. As part of the company's QA/QC (quality assurance/quality control) procedures, standards and blanks were inserted into the sample batches. ACME is an ISO 9001-registered laboratory and has a quality control program in place which includes the insertion of standard, blank and duplicate samples, as well as conducting repeat analyses. Field work and project management was under the direct supervision of Bruce Laird, P. Geo.. Robert Cameron, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.

About Bearing Resources

Bearing is a Canadian based precious and base metal exploration company with projects located in British Columbia, the Yukon and Mexico. Bearing is exploring at the ~40,000 hectares Mapimi gold-silver project located in the Altiplano Region of eastern Durango, Mexico. The Company's Mount Polley and October Dome copper-gold projects are located in British Columbia near Imperial Metals Corporation's ("Imperial") Mt. Polley copper-gold mine and includes a production royalty on the Boundary property, with Imperial. In the Yukon, the company has three projects optioned out including the Flume Project where Ryan Gold Corp. has been granted a right to earn up to 75% interest.

BEARING RESOURCES LTD.

Robert Cameron, President & CEO

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to, those with respect to potential future and exploration potential of anomalies and properties involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Bearing to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of commodities, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in documents filed from time to time with the securities regulators in the applicable Provinces of British Columbia and Alberta.

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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