Clifton Star Resources Inc.

Clifton Star Resources Inc.

May 13, 2013 08:45 ET

Clifton Star Announces Drilling Results from the Duparquet Project Including 2.11 g/t Au over 24.1 m, 1.54 g/t Au over 51.0 m, and 1.13 g/t Au over 90.0 m

QUEBEC CITY, QUEBEC--(Marketwired - May 13, 2013) - Clifton Star Resources Inc. ("CFO" or "Clifton") (TSX VENTURE:CFO)(FRANKFURT:C3T) is pleased to announce the assay results for the first 15 drill holes from its 2013 drill program at its Duparquet Project in Quebec's Abitibi region.

Clifton Star continues to obtain significant assay results from delineation holes within the limits of the current pit shells as well as from exploration holes outside of the pit shells. The positive results within the pit limits demonstrate that the zones show good grades and continuity, while the exploration holes demonstrate the potential to increase the limits of the current pit shells.

Drill Highlights include:

  • Hole BD13-01 with 140.7 meters grading 0.60 g/t Au
  • Hole BD13-02 with 31.0 m grading at 1.41 g/t Au including 5.0 meters grading 4.67 g/t Au
  • Hole BD13-03 with 90.0 meters grading 1.13 g/t Au including 8.7 m grading at 3.45 g/t Au
  • Hole BD13-04 with 42.6 meters grading 1.28 g/t Au, including 13.1 m grading 2.21 g/t Au and 4.5 m grading 2.24 g/t Au
  • Hole D13-02 with 51.0 meters grading 1.54 g/t Au, including 5.5 m grading 2.98 g/t Au, 4.5 m grading 2.44 g/t Au and 10.5 m grading 2.86 g/t Au
  • Hole D13-03 with 2.2 meters grading 13.33 g/t Au
  • Hole D13-05 with 1.5 meters grading 11.41 g/t Au
  • Hole D13-10 with 24.1 meters grading 2.11 g/t Au including 8.3 m grading 3.09 g/t Au

The true thicknesses of the intersections are typically 60% to 80% of the core lengths.

The results of these current 15 drill holes drilled in 2013, as well as the 54 holes (16,150.5 meters) drilled in the second half of 2012, were not included in the most recent NI 43-101 Resource estimate published January 15, 2013, on which the Preliminary Economic Assessment (PEA) was based.

Complete results can be accessed by clicking on the following link (Table 1), and locations of holes and sections can be found by clicking the following figures

Figure 1

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2013 Activities:

In March, Clifton collected a 12 tonne bulk sample of the mineralized zones, that was sent to SGS Minerals Services in Lakefield, Ontario for additional metallurgical testing and environmental pilot tests in support of the upcoming Pre-Feasibility Study. The test work includes continuous pilot plant tests, and results are expected to be available in the 2nd quarter of 2013.

Clifton Star has started a Pre-Feasibility Study on the Duparquet Project that will compare the relative benefits of the two possible process treatments, either a POX circuit, as used in the PEA, or production of high grade gold concentrates. The Pre-Feasibility report is expected to be released in Q1 of 2014.

Clifton is pleased with the current drill results, and is continuing its drill program for 2013 with the goal of upgrading and expanding the current resources. An updated resource estimate is underway, and results will be released at the end of Q2.

Technical Information and Qualified Persons

Diamond drill holes are drilled to recover NQ size core. The core boxes are sealed and delivered to the company's core logging facilities on site at the end of each shift where they are photographed, logged and sampled. Core samples are sawed in half, bagged and sealed prior to being transported directly by the Company to Activation Laboratories Ltd. (Ste-Germaine de Boule), an independent accredited laboratory, for assay analysis. The assay analyses performed during Clifton's drill programs are subject to a formal quality assurance and quality control (QA/QC) program, with standard reference materials, blanks, and field duplicate samples inserted prior to shipment from site to monitor the quality control of the data. Samples with higher grade gold (greater than 10 grams per tonne) are reassayed using a gravimetric and/or pulps and metallic procedure. All gold results reported are cut, with assays greater than 25 grams per tonne cut to 25 grams.

The Company's exploration team designed and executed the 2013 drilling program under the supervision of Clifton's Vice President of Exploration, Mr. Louis Martin. The content of this news release has been written and approved by Mr. Louis Martin, P.Geo, a Qualified Person as defined by National Instrument 43-101.

Cautionary Statement on Forward Looking Information

Certain information included in this press release, including any information as to our future exploration, financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. The words 'expect', 'believe', 'will', 'intend', 'estimate' and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, including the possibility that drill programs will not yield the expected results. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Clifton Star Resources to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance. These statements are also based on certain factors and assumptions. For more details on these estimates, risks, assumptions and factors, see the Company's most recent Form 20-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.

Neither the TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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