Central Resources Corp.

Central Resources Corp.

January 24, 2011 09:00 ET

Central Resources Reports Geochemical Results from the Selwyn Creek Project ("O" Claims) White Gold District, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 24, 2011) - Central Resources Corp. (TSX VENTURE:CBC) ("Central" or the "Company") is pleased to report results from its 2010 sampling program on the O claim block of the Company's Selwyn Creek project, located in the Dawson Range area of the White Gold district, Yukon. Complete results from the central L block and the outlying M and N blocks were previously reported on September 21, October 13, 2010 and January 21, 2011. Additional results from the peripheral J and K blocks will be reported in a subsequent release.

"We are very pleased with the results of the Company's first sampling program on the O block," said Paul Reynolds, President and CEO of Central Resources. "Soil sampling returned up to 291 ppb Au and 587 ppm As while current and historic rock sampling returned values of 2.48 g/t Au, 5.0 g/t Au and 6.55 g/t Au."

A total of 340 contour soil samples were collected from the O block in 2010, on 100m stations along a variable line spacing of 200-400 meters, over roughly 80% of the property. These samples returned several strongly anomalous results in gold and arsenic (up to 291 ppb Au and 587 ppm As), and several moderately anomalous results in silver and lead (up to 6 ppm Ag and 587 ppm Pb). Of the 340 samples collected in 2010, gold values varied from detection limit to 291 ppb, with one sample over 100 ppb, 13 samples over 20 ppb and 48 samples over 10 ppb.

These values occurred as scattered single and multi-point anomalies clustered in two separate areas of the property (north and south), coincident with recessive quartz vein subcrop observed along ridge tops. The veins were seen to contain variable pyrite-arsenopyrite-galena mineralization and six rock grab samples, collected in 2010, ran as high as 2.48 g/t gold, 60.8 g/t silver, 1390 ppm arsenic and 9630 ppm lead. Similarly, historic (1981) grab samples collected in these same areas ran as high 5.0 and 6.55 g/t gold, 1936 g/t silver and 65.1% lead.

The Company is highly encouraged by these results and has recently increased the size of the O claims by staking an additional 16 claims. Central plans to conduct detailed prospecting and grid sampling on the property in 2011, to better define the existing anomalies and 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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