Crown Minerals Inc.

July 13, 2010 16:05 ET

Crown Samples 13.85 Grams Gold/Ton at Its Red Lake Property

TORONTO, ONTARIO--(Marketwire - July 13, 2010) - Crown Minerals Inc. ("Crown" or the "Company") (TSX VENTURE:CWM) is pleased to announce that a recent chip sample taken from its Red Lake property in North-western Ontario has returned an assay of 13.85 grams of gold per metric ton across ½ meter. Samples were recently taken on a site visit to the property to verify historical gold grades reported by MacAndrew Red Lake Gold Mines on 2 different zones that were worked in the 1930s. To Crown's knowledge, no work has been done on the property since 1936.

Crown has also had magnetic and VLF-EM surveys prepared which appear to indicate that linear magnetic features are associated with the host rocks of historical gold mineralization.

A National Instrument ("NI") 43-101 Technical Report has recently been prepared to recommend further work programs for this summer and is available on SEDAR ( Historical results are discussed in this Report as well as the results from Crown's sampling program and geophysical surveys.

Crown's Red Lake property consists of six patented claims on McKenzie Island, approximately 4 kilometers southwest of the former McKenzie Red Lake Mine, which produced more than 651,000 ounces of gold at an average grade of 0.277 oz/t (9.5 g/mt) from veins in the McKenzie Stock. Crown's property is situated within and near the northern edge of the Dome Stock, which is virtually the same age as the McKenzie Stock.

Crown's property is also 2 1/2 kilometers southwest of the Bruce Channel discovery by Gold Eagle Mines Ltd which was subsequently purchased by Goldcorp in 2008 for $1.5 billon. Total production from the Red Lake Camp to December 31, 2009 has been 25.5 million ounces of gold at an average grade of 0.46 oz/ton (15.8 g/mt).

Crown is currently preparing stripping, trenching, and sampling programs to help identify targets for drilling planned for later this year.

The Technical Report was prepared by Dr. George Cargill, P.Geo. a Qualified Person for the purposes of NI 43-101. This press release has been reviewed by Robert Kuehnbaum, P.Geo., who is the Qualified Person as defined by NI 43-101 for Crown's McKenzie Island project.

Crown is exploring for gold and base metals in both Ontario and Nevada, and has recently announced a proposed merger with Gold Summit Corporation. For more information please see the Crown website at .

Forward-looking Information: This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that Crown believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond Crown's ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement, speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Crown disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Crown believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on these forward-looking statements due to the inherent uncertainty therein.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or contents of this news release.

Contact Information

  • Crown Minerals Inc.
    Mr. Stephen Dunn
    President and CEO
    (416) 822-3343