Central Resources Corp.

Central Resources Corp.

January 21, 2011 09:00 ET

Central Resources Reports Additional Geochemical Results from Selwyn Creek Gold Project ("M" and "N" claims) White Gold District, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2011) - Central Resources Corp. (TSX VENTURE:CBC) ("Central" or the "Company") is pleased to report results from its 2010 soil sampling program on the M and N claim blocks of the Company's Selwyn Creek Gold project, located in the Dawson Range area of the White Gold district, Yukon. Complete results from the central L block were previously reported on September 21 and October 13, 2010. Additional results from the peripheral J, K and O blocks will be reported in a subsequent release.

"Our first set of results from the 2010 soil sampling on the M and N claim blocks identified several single station gold and arsenic soil anomalies," said Paul Reynolds, President and CEO of Central Resources. "Exploration elsewhere in the unglaciated Dawson Range has shown that single station soil anomalies are meaningful and need to be followed up. Only 20% to 30% of these properties have been sampled to date."

On the M block, several weak to moderate single point anomalies, consisting of 23 ppb and 33 ppb gold and 107 ppm and 138 ppm arsenic, were returned from 209 soil samples collected in 2010 on three widely spaced contour lines and a coarse 100m x 100m grid. A single historic (1985) soil sample returned a value of 254 ppb Au which remains unexplained. Two gossanous (iron oxide stained) areas identified in 1974 along the banks of a creek appear to represent the trace of a northwest trending structure which cuts the western portion of the claim block and this area remains to be gridded and sampled.

On the N block, 129 widely spaced contour soil samples collected in 2010 returned weakly to moderately anomalous values in gold and arsenic, including peak values of 30 ppb gold and 119 ppm arsenic. A previous (1985) soil sample returned a value of 156 ppb gold.

The Company plans to conduct detailed prospecting and additional sampling on the M and N blocks in 2011, to follow up on existing anomalies and infill the remaining property areas, in order to identify potential trench targets for subsequent testing.


The Selwyn Creek Gold project consists of six 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 (1981) Limited 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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