Cassius Ventures Ltd.
TSX VENTURE : CZ

July 18, 2011 08:00 ET

Cassius Ventures Ltd. Announces Commencement of 2011/2012 Exploration Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2011) - Cassius Ventures Ltd. (TSX VENTURE:CZ) (the "Company") is pleased to announce the commencement of its 2011/12 exploration program in respect of its Nicaraguan Gold Properties.

A 12 month exploration program has been planned across all of the Company's 16 concessions (137,000 ha). This program includes stream sediment sampling on concession areas not previously sampled as well as concessions worked on historically.

Potential gold occurrences have already been identified on some concessions and soil geochemistry surveys will be carried out on prospective areas. Previous work done by Fortress de Nicaragua identified five potential drill targets from soil geochemistry. Fortress had also commenced trenching on one target. Trenching will also be undertaken on the other four targets as well as any additional targets identified during the current program. Up to 7,500 meters of reconnaissance core drilling is planned during the next twelve months, commencing in October 2011. The drill program is expected to continue through May 2012. The exploration program will be supported from the Company's newly opened administrative offices in Managua, Nicaragua.

The chief geologist responsible for planning and overseeing the exploration program is Mr. Gabriel Segura. He was previously the chief geologist for Fortress de Nicaragua prior to its acquisition by Cassius Ventures and has a wealth of experience in geological exploration in Central America.

The Company is pleased to announce the hiring of Mr. Edgardo Cuaresma as Country Manager. In addition to general administration, Mr. Cuaresma will take responsibility for maintaining good relations and liaising with all national and municipal government departments, and landowners, in respect of the Company's activities, ensuring the Company complies with all relevant regulations.

John Thomas, President and CEO noted: "Our team in Nicaragua led by Gabriel Segura includes 10 geologists and prospectors in the field, with some 30 support staff and a plan to advance exploration in all of our areas, including the drilling of at least 5 different targets. The hiring of Edgardo Cuaresma will help to ensure that we maintain a strong working relationship with the Nicaraguan authorities and key stakeholders."

The Company also announces the granting of a total of 1,435,000 incentive stock options, exercisable at $0.21 per share for five years, to directors, officers and employees of the Company subject to regulatory approval.

On behalf of the Board of Directors

Cassius Ventures Ltd.

John Thomas, President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility of the adequacy or accuracy of this release.

Contact Information

  • Cassius Ventures Ltd.
    John Thomas
    President and CEO
    (604) 558-1107