Clifton Star Resources Inc.
TSX VENTURE : CFO
FRANKFURT : C3T

Clifton Star Resources Inc.

July 05, 2012 14:07 ET

Clifton Star Announces the Filing on SEDAR of the NI 43-101 Compliant Report of the Duparquet Project and Also the Start of a PEA Study

QUEBEC CITY, QUEBEC--(Marketwire - July 5, 2012) - Clifton Star Resources Inc. ("Clifton Star" or the "Corporation") (TSX VENTURE:CFO)(FRANKFURT:C3T) is pleased to announce that it has filed today on SEDAR the consolidated Mineral Resource estimate of the Duparquet Project, which also includes the Beattie tailings. The report, dated July 5, 2012, was prepared by InnovExplo Inc., a Val-d'Or based consulting firm in geology and mining. The following mineral resources estimate was published by Clifton Star in a press release issued on May 24, 2012. It can be found on the Clifton Star web site at: www.cfo-star.com

The Total Mineral Resource estimate is as follows:

Measured resources: 1,284 ounces (19,000 t at 2.10 g/t)
Indicated resources: 1,713,328 ounces (29,591,100 t at 1.80 g/t)
Inferred resources: 1,667,909 ounces (29,143,400 t at 1.78 g/t)

The In-Pit mineral resource estimate, base case (0.60 g/t cut-off grade), is as follows:

Indicated resources: 1,275,499 ounces (21,916,900 t at 1.81 g/t)
Inferred resources: 1,136,620 ounces (23,149,400 t at 1.53 g/t)

The Underground mineral resource estimate, base case (2.00 g/t cut-off grade), is as follows:

Indicated resources: 314,635 ounces (3,569,700 t at 2.74 g/t)
Inferred resources: 531,289 ounces (5,994,000 t at 2.76 g/t)

The Beattie tailings resource estimate, base case (0.60 g/t cut-off grade), is as follows:

Measured resources: 1,284 ounces (19,000 t at 2.10 g/t)
Indicated resources: 123,194 ounces (4,104,500 t at 0.93 g/t)

Preliminary Economic Assessment

Clifton Star has started a Preliminary Economic Assessment study of the Duparquet Project. The Corporation expects to have the report conclusions available at the end of 2012.

Registered Office Change

Clifton Star also announces that, in accordance with the shareholders' approval at the last annual meeting held on December 5, 2011, the Corporation has completed the steps to officially move its registered Office to Quebec, at the address below.

Qualified Person:

The overall content in this news release has been prepared, reviewed and approved by Louis C. Martin, P. Geo., Vice President Exploration of Clifton Star Resources Inc., who is a Qualified Person as defined under Regulation 43-101 guidelines.

Michel F. Bouchard

President and CEO

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.

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.

Contact Information

  • Clifton Star Resources Inc.
    Michel F. Bouchard
    President and CEO
    418-914-9922
    418-914-9687 (FAX)
    mbouchard@cfo-star.com