Central Resources Corp.

Central Resources Corp.

November 12, 2009 08:00 ET

Central Commences Drill Program on Newman Todd Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2009) - Central Resources Corp., (TSX VENTURE:CBC) ("Central" or the "Company") is pleased to announce the commencement of a drill program on the Newman Todd property located in the Red Lake Gold Camp in Northwestern Ontario. Previous work completed by Redstar Gold Corp. (TSX VENTURE:RGC) ("Redstar") on the Newman Todd property outlined gold mineralization within a silicified breccia zone that has been traced for at least two kilometres. The large geological structure contains steeply dipping high-grade gold veins. The focus of the 1,200 meter drill program will be to further test this geological structure. Central is joint-operator with Redstar on the project and has an option to earn up to a 60% interest in the property under the terms announced October 05, 2009.

The Newman Todd property is comprised of 13 patented claims totalling 195 hectares and is situated 35 kilometres west of the town of Red Lake, Ontario. The property has seen intermittent exploration since the late 1920s including geophysical surveys, geological mapping, geochemical surveys, trenching, and several small drill programs. This past work, though limited in scope, has identified fifteen gold occurrences, as documented with the Ontario MNDM, and defined alteration and deformation similar to those reported with gold mineralization at the major Red Lake mines. As many as seven gold prospects with small-scale underground development and mine workings are located on nearby claims within five kilometres of the property boundary. These include the Cole Gold Mine, West Red Lake Mine, Miles Red Lake Prospect, May-Spiers Prospect, Mt. Jamie Mine, Rowan Gold Mine, and Red Summit Mine.

Since 2002, Redstar has advanced the property through exploration including prospecting, structural analysis, airborne magnetic and EM surveys, and a Titan MT/DCIP survey. Exploration from 2005 to 2008 consisted of a seventeen hole (4,644 metre) drill program. Sixteen of the holes intersected wide zones of breccia with anomalous to locally high-grade gold mineralization, including up to 69.02 g/t over 1.0 metre within a 3.0 metre interval grading 24.89 g/t. A new gold bearing trend, which can be traced for the entire length of the property has been identified and is defined by wide zones of brecciation and strong carbonate alteration with zones of intense silicification and local high grade gold mineralization.

Stephen Kenwood, P. Geo., a "Qualified Person" as defined by National Instrument 43-101, has reviewed and approved the technical disclosure in this news release.

About Central Resources

Central Resources Corp. is a junior mineral exploration company created to leverage the extensive knowledge and expertise of a team of financial and resource industry professionals. The management team is committed to developing a successful junior resource company through the acquisition and exploration of properties of merit.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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.

Contact Information