Central Resources Corp.

Central Resources Corp.

November 23, 2011 16:00 ET

Central Resources Corp.: Selwyn Creek Exploration Results; Rock Samples Return Up to 14.15 g/t Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2011) - Central Resources Corp. (TSX VENTURE:CBC) ("Central" or the "Company") is pleased to announce results of the 2011 surface exploration program conducted at its LLL property located in the Dawson Range Gold Belt of southwestern Yukon. Highlights from the program include:

  • Discovery of highly prospective rocks grading between 0.697 and 14.15 g/t gold from quartz veined samples;
  • Expansion of a 2010 soil geochemical anomaly - resulting in a 1,200 by 1,000 metre area of coincident, strongly elevated gold and arsenic values; and
  • Identification of three new moderately to strongly anomalous areas of gold and arsenic soil geochemistry.

In 2011, prospecting at the LLL property identified a breccia zone that lies on the western edge of a broad ridge. This zone appears to be oriented sub-parallel to a geological contact between quartzite and gneiss, in an area where a porphyry dyke cuts both units. Geologically favourable material typically ranges from weakly silicified fault breccia to strongly silicified hydrothermal crackle breccia. Visual mineralization includes arsenopyrite, minor stibnite and alteration minerals - scorodite, limonite and jarosite. This breccia zone has never been drilled or trenched and contains no outcrops. Limited sampling of mostly grass covered talus returned encouraging values including 0.697 g/t, 1.125 g/t and 14.15 g/t gold.

"These results are very exciting because we have discovered significant gold mineralization in rock samples located within a large gold - arsenic soil anomaly," said Paul Reynolds, President and Chief Executive Officer of Central. "These rock sample results range from anomalous to 14.15 g/t gold."

Soil sampling expanded a zone of coincident, strongly anomalous gold and arsenic soil geochemistry which encompasses the breccia zone and covers an area 1,200 metres long and 1,000 metres wide. Values from 2011 sampling in this anomaly range from 20 to 502 ppb gold-in-soil and 100 to 810 ppm arsenic-in-soil. Antimony values within this zone were weak to strongly anomalous (5 to 23 ppm). Gold and arsenic soil geochemical maps are posted on the Company's website at www.centralres.ca.

Three additional soil geochemical targets comprising clusters of moderately to strongly anomalous gold and arsenic values have been identified elsewhere on the property. Values within these anomalies range from 20 to 391 ppb gold and 100 to 301 ppm arsenic. No follow up prospecting has been done in the vicinity of these anomalies. The highest soil result on the property is an isolated gold value of 1,060 ppb.

Most of the LLL property is underlain by brittle graphitic quartzite (Nasina Assemblage), hornblende-biotite granite gneiss (Pelly Gneiss Suite) and two Whitehorse Suite granitic plutons. Quartz-feldspar porphyry dyke swarms intrude all of these units. This geological setting resembles the setting at the nearby Coffee Property of Kaminak Gold Corporation.

Analytical work was done by ALS Chemex with sample preparation in Whitehorse, Yukon and assays and geochemical analyses in North Vancouver, British Columbia. All rock samples were initially analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 35 other elements by inductively coupled plasma - atomic emission spectroscopy (ME-ICP41). Overlimit values for gold were determined by fire assay and gravimetric finish (Au-GRA22). All soil samples were analyzed for gold by inductively coupled plasma - atomic emission spectrometry (Au-ICP21) and the multi-element analysis was done by ME-ICP41.

The 2011 program was conducted by Archer, Cathro & Associates (1981) Limited under the supervision of Heather Smith, P.Geo. The technical information in this release has been reviewed by Heather Smith, P.Geo., and Paul Reynolds, P.Geo., President of Central, both of whom are qualified persons as defined by National Instrument 43-101.

About Central Resources

Central Resources Corp. is a junior 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 Yukon and British Columbia and continues to pursue 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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