Claim Post Resources Inc.
TSX VENTURE : CPS

Claim Post Resources Inc.

October 14, 2010 09:46 ET

Claim Post Resources Commences Exploration Program

TORONTO, ONTARIO--(Marketwire - Oct. 14, 2010) - Claim Post Resources Inc. (TSX VENTURE:CPS) (the "Company") is pleased to announce that it completed Deep IP on the Dayton Porcupine and McLaren Porcupine patented properties, located 5 miles south of Timmins Ontario. Numerous targets have been identified and drilling will now start, with the focus on known gold mineralization.

The Dayton Porcupine gold zone which is 450m long x 8m wide x 100m deep appears to plunge to the west. Claim Post has targeted an initial 600 meter diamond drill hole to intersect the down plunge gold horizon at 300m below surface. The IP horizon appears to be just below and to the south of the collar locations of the 1937 historical drilling. The deep IP geophysics traced the Dayton quartz rich horizon 800 meters to the west on the property.

A second diamond drill hole will be collared to check a very strong chargeability anomaly within the serpentine dike that crosses the Dayton Porcupine property. The anomaly was traced for 1.5 kilometres and potentially hosts a high sulphide conductor.

The Company's President and C.E.O., Charles Gryba commented: "We are pleased to have started exploration drilling of the Dayton Porcupine gold system. For the first time this, historical system will systematically explored using modern techniques. It will take at least 10 diamond drill holes to drill check the deep IP generated targets on the Dayton Porcupine patents. The gold zone appears to be in a 1.2km wide shear zone that strikes west into the Racetrack property that Claim Post recently optioned."

Charles Gryba P. Eng. is the Qualified Person, as defined by NI 43-101, responsible for the disclosure in this new release.

Claim Post Resources Inc. is a Canadian based mineral exploration company and a reporting issuer in Ontario, Alberta and British Columbia. The Company currently holds a 100% interest in the mineral rights to about 1134 staked claim units and 51 patented claims (~180 km2 or 72 sq. miles), wholly within the city limits of Timmins, Ontario. The Company continues to stake ground as it becomes available. There are 26,457,165 common shares of the Company issued and outstanding.

Statements in this release that are forward-looking reflect the Company's current views and expectations with respect to its performance, business, and future events. Such statements are subject to various risks and assumptions, some, but not necessarily all, are disclosed elsewhere in the Company's periodic filings with Canadian securities regulators. Such statements and information contained herein represent management's best judgment as of the date hereof based on the information currently available; however actual results and events may vary significantly. The Company does not assume the obligation to update any forward-looking statement.

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

  • Claim Post Resources Inc.
    Charles Gryba
    President and Director
    416 801 6366
    or
    First Canadian Capital Corp.
    Daniel Boase
    Managing Partner
    416 742 5600