Encore Renaissance Resources Corp.

Encore Renaissance Resources Corp.

April 15, 2009 07:06 ET

Encore Renaissance Resources Corp. Acquires Option on High Grade BC Gold Mine Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 15, 2009) - Encore Renaissance Resources Corp. ("Encore") (TSX VENTURE:EZ) wishes to announce that it has acquired an option to purchase a 60% interest in the Bonaparte Mine Property located approximately 35 km north of Kamloops, British Columbia, for the payment of an aggregate amount of 20 million shares and $7 million over the next 2 years in staged payments and the incurring of expenditures to take the Property into production.

Encore will also undertake as part of its option to acquire its interest in the Bonaparte Gold Mine Property, the permitted 10,000 tonne bulk sample, initially by decline underground mining from surface, of the same vein material that was bulk sampled in the 1990's.

As reported by Shaun Dykes of Geologic Systems Ltd. in his report "Status Report - Bonaparte Gold Property", November, 2003, that sample consisted of approximately 3.425 tons with a recovered grade of 26 grams per tonne gold (0.75 oz. per ton) from the surface trace of one of the over 13 identified vein systems on the property.

No resource has been estimated although over 20,000 feet of drilling has been completed. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Current operations will help to establish a recoverable grade and with the proposed exploration and development drilling enable Encore to not only design and apply for a full mining and onsite milling operation but to complete a 43-101 compliant resource calculation on the property.

Additional exploration drilling also funded by Encore will focus on other identified veins that have reported multi ounce values of gold.

This transaction is subject to TSX Venture Exchange approval and the contents of this news release have been reviewed by Laurence Stephenson P.Eng. the designated Qualified Person.

On behalf of the Board of Directors

Michael Mulberry, President and Director

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the content of this press release.

Contact Information

  • KCrew Communications
    604-678-8101 or 1-866-465-3616