Concordia Resource Corp.
TSX VENTURE : CCN

Concordia Resource Corp.

July 19, 2011 08:30 ET

Concordia Receives Significant Silver Results From Confirmation Channel Sampling at Its Providencia Property in Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 19, 2011) - Concordia Resource Corp (TSX VENTURE:CCN) ("the Company") is pleased to announce that its wholly owned subsidiary, Meryllion Minerals Corporation ("Meryllion"), has received results from confirmation sampling undertaken during the recently completed exploration campaign at its Providencia Ag-Cu prospect in northwestern Argentina.

The property hosts Ag-Cu mineralization, and produced some five million ounces of silver between 1986 and 1997 from ore grading between 400-500 g/t Ag. Mineralization is hosted by a gently dipping, poorly consolidated, green conglomerate unit floored and capped by dark red mudstones and white sandstones respectively. The conglomerate unit was the primary target of previous mining, and four shallow open pits were developed – the North, Central, South, and West Pits. Mineralization is open along strike to both the north and south, as well as down-dip to the east within the gently dipping conglomerate unit.

The results received from the channel sampling range up to 4160 g/t Ag and 3.62% Cu (see table below), and the average unweighted values for channel samples collected from the Green Conglomerate Member are 657 g/t Ag and 0.66% Cu. By comparison, the previous channel sampling of the old workings by Cardero in 2003 returned values ranging up to 4064 g/t Ag and 3.97% Cu, and the average unweighted values from the Green Conglomerate Member were 506 g/t Ag and 0.46% Cu.

TABLE 1. Channel Sampling Results form Green Conglomerate Member
SAMPLE LOCATION Ag (ppm) Cu (ppm) Pb (ppm) Zn (ppm)
1255 South Pit - Bench 3, C3 453 7180 4260 3680
1256 South Pit - Bench 5, C1 53.6 363 4670 6220
1257 South Pit - Bench 7, C3 402 3780 3210 5250
1258 South Pit - Bench 7 945 8630 3030 5660
1259 West Pit 1940 36200 7910 2360
1260 Central Pit 2380 17250 14200 3680
1262 Central Pit - South Face 698 5300 19150 1890
1263 South Pit - Bench 8 4160 16250 2460 3820
1266 West Pit 19.4 374 12350 3350
1267 Base of "Crud Hill" 204 2540 1100 4010
1268 North Pit - East Face 1280 13550 867 1270
1269 North Pit - East Face 470 5260 6600 1400
1270 North Pit - East Face 508 4460 6950 1500
1271 North Pit - West Face 518 5590 864 2760
1272 North Pit - West Face 159 714 613 1540
1273 North Pit - West Face 96.3 398 295 1440
1274 North Pit - West Face 5.38 27 281 1750
1275 North Pit - West Face 76.4 406 182.5 1610
4076 North Pit - West Face 768 10950 874 2420
4077 North Pit - West Face 16.1 22.4 247 1820
4078 North Pit - West Face 820 9800 338 1930
4079 Below West Pit 430 11800 679 2080
4081 West Pit 535 6490 4740 2650
4082 South Road Cut 149 3770 2520 3710
4083 South Hill- Lower Pit 12.1 290 14050 1870
4084 North Pit - South Face 645 7320 19400 3990
4085 Side of "Crud Hill" 0.62 22.5 697 843

Samples were dispatched via commercial transport to the ALS Chemex Laboratory in Mendoza, Argentina for analysis.

Meryllion has completed an environmental study and has received documented support from the two local communities for its exploration activities. The Company is now preparing for an initial program of approximately 3000 m of core drilling and has awarded the drilling contract. Drilling activities are expected to commence in early August.

Exploration at Providencia is being conducted under the supervision of Dr. Willem Fuchter PGeo, CEO of Meryllion and a Qualified Person as defined by Canada's National Instrument 43-101. The sampling was carried out under the direction of John Rice, VP Exploration for Concordia, and the contents of this release have been reviewed by Ms. Pamela Klessig, Director of Concordia and a Qualified Person.

ABOUT MERYLLION

Meryllion Minerals is a wholly owned subsidiary of Concordia with the charter to conduct mineral exploration in South America with a primary focus on precious and base metals. Meryllion operates out of offices in Buenos Aires under the direction of Dr. Willem Fuchter, PGeo, a PhD geologist with extensive international experience and a Qualified Person under NI 43-101.

ABOUT THE COMPANY

Concordia Resource Corp. is a mineral exploration company with property holdings in North and South America and Spain. The Company holds the Albisu gold discovery in Nevada, and is earning from Renaissance Gold Inc. a 70% interest in the Baza gold-copper project in Spain. Through its wholly owned South American subsidiary, Meryllion Minerals Corp, the Company is earning 100% of the historic La Providencia silver mine located in the Puna of northwestern Argentina and has also acquired an option to purchase the 14 000 ha Cerro Amarillo-Cajon Grande copper-gold property located in the Malargüe District of Argentina. Concordia has its head office and executive management team in Vancouver, Canada; and its technical team is based in Reno, Nevada.

On behalf of the Board of
Concordia Resource Corp.
"R. Edward Flood"
R. Edward Flood
Chairman

Forward Looking Statements

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Ontario Securities Act, including the receipt of necessary permits to conduct exploration and construction, timing of anticipated exploration program, the number of the holes and meters to be drilled and future plans of the Company. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties, including those described in each management discussion and analysis. Forward-looking information is in addition based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of metals; appropriate equipment and sufficient labour and that the political environment where the Company operates will continue to support the development and operation of mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information.

The TSX-V has neither approved nor disapproved the contents of this press release. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this press release.

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