Central Resources Corp.

Central Resources Corp.

September 21, 2010 16:27 ET

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

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2010) - Central Resources Corp. (TSX VENTURE:CBC) ("Central" or the "Company") is pleased to announce results from an 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. Strongly anomalous results of up to 523 ppb gold and 283 ppm arsenic were returned from 13 line km of contour soil sampling in the West Zone, and results of up to 470 ppb gold and 1,045 ppm arsenic were obtained from soil samples collected over a 900 m by 1,700 m grid in the East Zone of the "L" claim block. A map of the project area will be available on the Company's website shortly.

"We are very pleased that our first phase of soil sampling has confirmed earlier work and outlined several potentially significant gold and arsenic soil anomalies on the "L" claim block," said Paul Reynolds, President and CEO of Central Resources. "Obtaining results as high as 470 ppb gold in the East Zone is particularly encouraging as this anomaly actually extends off the grid area, which we have now extended and results are pending. In the West and Central Zones we also have broad arsenic anomalies in contour soils, which are intriguing and definitely warrant additional work."

The Selwyn Creek Gold project consists of 6 separate claim blocks (J, K, L, M, N, O) located in the Dawson Range, generally above tree line, 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 (1981) Limited in the mid 1980's. The results announced today are from the first follow up sampling program conducted on the properties by Central Resources and incorporates the previous sample results.

Over 2,300 soil samples were collected from grids and contour lines covering the various claim groups, with the main focus on the largest (220 claims) "L" block, which hosts the bulk (821) of the samples collected this year. On the "L" claim block, results for gold varied from detection limit to 523 ppb gold, with 9 samples over 100 ppb gold and 24 samples over 50 ppb gold. Results for arsenic varied from 1 to 1,045 ppm arsenic, with 40 samples over 100 ppm arsenic and 137 samples over 50 ppm arsenic. Other claim blocks returned weakly to moderately anomalous values in arsenic and gold, which will need to be followed up with additional soil sampling.

In the East Zone of the "L" claim block, samples were collected from a coarse 900 m by 1,700 m grid of 50 m spaced stations on 200 m spaced lines in addition to samples collected from 50 m stations on various contour lines. Sample results from the East Zone have identified two ≥20 ppb gold soil anomalies each measuring roughly 500 m by 500 m. Within the easternmost anomaly, gold grades appear to be increasing to the north and east of the grid. The grid has therefore been expanded, additional soil samples have been collected, and these results are pending.

The West Zone of "L" claim block returned anomalous gold values of ≥20 ppb outlining an area of roughly 400 m by 400 m, coincident with a somewhat broader ≥50 ppm arsenic anomaly. Further to the west (and to the south-east in the Central Zone) additional arsenic anomalies of ≥24 ppm have been outlined by contour sampling over several line kilometres, with spikes of ≥100 ppm arsenic at single sample stations. This area warrants additional work, including prospecting and more detailed grid sampling.

Soil sample analyses were done at ALS Chemex in North Vancouver. The samples were initially analyzed for gold by fire assay followed by inductively coupled plasma-atomic emission spectroscopy (Au-ICP21) and 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. All samples were analyzed by ALS Chemex of North Vancouver, BC. ALS Chemex is an ISO accredited laboratory. Quality control is further assured by the use of international and in-house standards. Heather Smith, P.Geo., has reviewed and approved the technical disclosure in this news release.

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.

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.

Contact Information