Central Resources Corp.

Central Resources Corp.

October 13, 2010 10:30 ET

Central Resources Announces Additional Results from Phase 1 Soil Sampling Program at Selwyn Creek Gold Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 13, 2010) - Central Resources Corp. (TSX VENTURE:CBC) ("Central" or the "Company") is pleased to announce additional results from the initial program of soil sampling at the Company's 522-claim (10,917 hectares) Selwyn Creek Gold project in the White Gold Area of central Yukon. The latest results for the East Zone of the "L" Block extend the existing gold anomaly by approximately 400m, defining a roughly linear, greater than 20 ppb gold anomaly, at least 1,000 metres in strike length. 

As previously reported, results of up to 470 ppb gold and 1,045 ppm arsenic were obtained from soil samples collected over a 900 metre by 1,700 metre grid in the East Zone of the "L" claim block, and a roughly 500 metre by 500 metre greater than 20 ppb gold anomaly was outlined which extended off the grid to northeast.

The grid was subsequently expanded by 300 metres to the north and east, and an additional 74 samples collected. These results now define a roughly linear northeast trending, greater than 20 ppb gold anomaly, at least 1,000 metres long and up to 500 metres wide, which remains open to the northeast and southwest. Within this anomaly, 16 samples ran greater than 50 ppb gold and 6 samples ran better than 100 ppb gold. A map showing the latest results will be available on the Company's website shortly.

"Geochemical sampling on the 'L' Block has identified a kilometre scale, coincident gold/arsenic soil anomaly similar to those observed on Kaminak's Coffee project, where subsequent trenching and drilling led to the discovery of several zones of bedrock mineralization," said Paul Reynolds, President and CEO of Central Resources. "It is important to note that our Selwyn Creek properties are located in the same belt of highly prospective host rocks as the Coffee Project and that only a small portion our properties have been soil sampled to date. Obviously, this area warrants further work and we look forward to getting back on the ground for more detailed work as soon as possible next year."

The Selwyn Creek Gold project consists of 6 separate claim blocks (J, K, L, M, N, O) located in the Dawson Range, south of the Yukon River and centred on Selwyn Creek. The properties were staked on the basis of historic anomalous soil and sediment sampling conducted by Archer Cathro & Associates Ltd. in the mid 1980's. Central has the right to earn a 100% interest in the properties from Strategic Metals Ltd., by making payments of $300,000 cash and 3,000,000 shares by February 15, 2012.

Recent soil and rock sample analyses were conducted at ALS Chemex in North Vancouver, BC. Samples were initially analyzed for gold by fire assay followed by inductively coupled plasma-atomic emission spectroscopy (Au-ICP21) and for 35 other elements by inductively coupled plasma-atomic emission spectroscopy (ME-ICP41). Field work was supervised by Heather Smith, P.Geo., of Archer, Cathro, who is a Qualified Person under the definition of National Instrument 43-101. Ms. Smith is responsible for all aspects of the work including the quality control/quality assurance program, which includes the use of international and in-house standards. Peter Thiersch, M.Sc., P.Geo., the Qualified Person and Vice President of Corporate Development for Central Resources, has reviewed and approved the technical disclosure made in this press release. 

About Central Resources

Central Resources Corp. is a junior mineral exploration company created to leverage the extensive knowledge and experience of a dedicated group of financial and resource industry professionals. The Company has acquired options on several highly prospective mineral properties in the White Gold District of central Yukon, and continues to seek additional opportunities to build shareholder value.

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.

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