Parlane Resource Corp.
TSX VENTURE : PPP

Parlane Resource Corp.

November 22, 2016 03:15 ET

Drill Target identified at the Black Bear occurrence on Parlane's Big Bear property, Central British Columbia

Soil sampling returns 4.9 g/t silver and 0.72 g/t gold

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 22, 2016) - Parlane Resource Corp. (TSX VENTURE:PPP) ("Parlane" or the "Company") has identified through soil sampling an area near its Black Bear mineral occurrence that is strongly anomalous in gold and silver. Anomalous samples fall within the top 5% of the 3,700 soil samples taken on the property and ranged as high as 4.9 grams per tonne (g/t) silver and 0.72 g/t gold. The anomalous samples form a cluster approximately 460 metres northwest of the Black Bear and will further assist in targeting additional core drill holes.

The Black Bear was discovered by Parlane late in 2012 during a drill program (see Parlane news release Jan 18, 2013) and is situated in the southwest part of the property between New Gold Inc.'s Blackwater and Capoose properties. Significant mineralized drill sections in BB12-4 include 9 metres assaying 2.14 g/t gold, 12.64 g/t silver and 0.76 % zinc. Within this section, a 1-metre interval, at 196 metres depth, assayed 13.50 g/t gold, 58.10 g/t silver and 1.36 % zinc. Parlane is encouraged by the results of its 2016 soil sampling program and plans to drill additional holes to further explore the mineralization.

In addition to continued exploration at the Black Bear, Parlane is planning an exploration program for early 2017 at its new Sugar Bear, Old Crow, The Cub, and Liesegang occurrences (www.parlaneresource.com).

Parlane's 273-square kilometre Big Bear mineral claim position is located immediately north of, and adjacent to New Gold Inc.'s Blackwater deposit and east of New Gold's Capoose developed prospect. The Blackwater has proven and probable reserves containing 8.2 million ounces of gold and 60.8 million ounces of silver (www.newgold.com).

Ian Webster P.Geo. is the Qualified Person, as defined by National Instrument 43-101, who has reviewed and approved the technical contents of this release.

ON BEHALF OF THE BOARD

Robert Eadie, President, Chief Executive Officer and Director

Neither the 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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