Creso Exploration Inc.

Creso Exploration Inc.

April 04, 2012 14:31 ET

Creso Announces 58.7 g/t Ag Over 21.7m Intersection Including 695 g/t Ag Over 1.4m Intercept on the Mann Property

MONTREAL, QUEBEC--(Marketwire - April 4, 2012) - Creso Exploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT) (OTCQX:CRXEF) (FRANKFURT:C3X) is pleased to announce the results of the most recent drill program completed on the Mann property in Milner Township.

Highlights from the results reported here are the intervals 695 g/t Ag over 1.4m, from 23.3 to 24.7m in a new zone intersection grading 58.7 g/t Ag over 21.7m, from 16.6m to 38.3m in DDH MN12-06. Also reported are two newly discovered anomalous zones, one from DDH MN12-07, giving 43.2 g/t Ag over 4.0m, from 7.0 to 11.0m and 21.0 g/t Ag over 8.85m from 16.75 to 25.6m, and the other from DDH 12-08 which intersected veinlets grading 37.4 g/t Ag over 2.6m, from 31.9 to 34.5m. The above-mentioned holes were designed to test IP chargeability/resistivity anomalous zones from the recently completed Insight Gradient Array survey (see Press Release dated January 18, 2012).

A total of 509m of diamond drilling were completed in the program, the silver results of which are shown in Table 1. Holes MN12-01 through MN12-05, inclusive, were designed to further define the No. 3 zone and D zone historic workings. Holes MN12-06 to MN12-10, inclusive, were designed to test high chargeability and high resistivity contacts in a previously undrilled northwest-southeast trending zone to the west of the historic areas, as indicated by the IP survey results. Silver values are found in carbonate and chlorite mineralized veins which are hosted in medium to coarse grained diabase displaying moderate to strong magnetization. Sulphide mineralization is disseminated and comprises 0.1 to 0.5 vol.% of mineralized veins. In addition to the above-mentioned results, new zones with significant silver enrichment were cut by holes MN12-09 and MN12-10, which were designed to test the IP target zone 1. Hole MN12-08, which was designed to test the western extension of the No. 3 zone, confirmed the presence of mineralization to approximately 100m west of the historic shaft. The results of holes MN12-07 and MN12-08, which are localized in Cobalt sediments, are an important indicator that these sediments should be an object of wider exploration.

Table 1. Silver Enriched Zones

Hole Results
Length Dip From To Length Grade Comment
(m) (deg.) (m) (m) (m) (g/t)
MN12-01 29 -80 10.0 15.0 5.0 17.8 Above historic #3 zone
MN12-02 32 -70 3.0 6.95 3.95 14.9 #3 zone near shaft, above drift
and 15.3 19.4 4.1 19.0
MN12-03 30 -60 4.35 16.0 11.65 7.0 #3 zone near shaft, below drift
including 15.0 16.0 1.0 50.0
MN12-04 32 -45 No significant intersections D zone, east end
MN12-05 62 -45 35.4 58.0 22.6 14.7 D zone, west end below drift
MN12-06 122 -45 16.6 38.3 21.7 58.7 IP target 6, south of D zone
including 23.3 24.7 1.4 695.0
including 121.4 122.0 0.6 250.0
MN12-07 50 -45 7.0 11.0 4.0 43.2 IP target 5, N-S anomaly
and 16.75 25.6 8.85 21.0
MN12-08 89 -45 20.4 26.0 5.6 26.0 West extension of #3 zone
and 31.9 34.5 2.6 37.4
MN12-09 32 -45 3.0 10.85 7.85 11.2 IP target 1, N-S anomaly
MN12-10 31 -45 3.0 4.8 1.8 28.5 IP target 1, N-S anomaly
and 12.6 14.0 1.4 29.0

All intervals in Table 1 represent core lengths and not true widths.

The technical content of this press release has been reviewed and approved by Mr. Mike White, M.Sc., P.Geo., the Qualified Person under National Instrument 43-101.

Creso Exploration QA/QC procedures follow standard industry practices. Sealed core boxes are transported once daily from the drill rig to the core logging facility by qualified drill contractor personnel. Core is logged and prepared for sampling in a secure building. Sample intervals are selected according to geologic contacts, visible mineralization and alteration. Drill core is cut along a centre line using a typical rock saw designed for core cutting. Sampled core is placed into sample bags, sealed and shipped to an assay lab that follows ISO 9000 series of Quality Management standards. All samples were analyzed for silver, gold and other trace elements at AGAT Laboratories by standard industry procedures. These procedures include silver and gold by fire assay-AAS finish, with follow-up silver and gold analyses by fire assay-gravimetric finish and/or metallic screen. Multi-element analysis is done by ICP/ICP-MS (201078) using a lithium borate fusion. Whole rock analysis is done by ICP-OES (201076) using a lithium borate fusion.

Blank and certified standard samples are routinely submitted with all sample batches sent to the lab for assay. In addition, replicates, duplicates and field duplicates are routinely included in sample batches. Samples with visible gold are analyzed with procedures designed to reduce the variability of the sample results. And finally, samples are routinely sent to other labs for additional checks.

About Creso

The Corporation's principal mining exploration holdings are located in the Shining Tree mining camp of Northern Ontario within 100 km of the Timmins and Kirkland Lake mining camps, and additional interests are held in base metal properties in Guatemala.

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward- looking statements as a result of numerous factors, some of which may be beyond the Corporation's control. These factors include: results of exploration activities, general market and industry conditions, and other risks disclosed in the Corporation's filings with Canadian Securities Regulators.

Forward-looking statements are based on the expectations and opinions of the Corporation's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Depending on exploration results and available financing, the Corporation may at any point modify its work program.

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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