Escape Gold Inc.

Escape Gold Inc.

August 23, 2007 17:40 ET

Escape Gold's Geophysical Survey Identifies Additional Gold Targets at Red Rock

TORONTO, ONTARIO--(Marketwire - Aug. 23, 2007) - Escape Gold Inc. (TSX VENTURE:EGT) -

President and CEO, T. John Magee is pleased to announce that the Company recently surveyed the Red Rock gold property in Nevada using the Titan 24 DCIP and MT geophysical technology. This modern and highly advanced system was used to enhance the exploration model prior to initiation of a diamond drill program. Chris Pratt, V.P. Exploration expanded the original Titan survey once the preliminary data was received as the geophysical signature extended the known targets outside the Discovery Zone to the north towards the Red Rock thrust and east towards the proximal rhyolite dome.

The Red Rock project has all of the classic earmarks of a low sulphidation epithermal system with the high grade gold and silver mineralization associated with quartz adularia veins. The known vertical extent of the veins has only been recognized within the Palmetto Formation as evidence in historical drill core to a depth of about 200 metres and not tested to any extent at depths related to the potential geological model as seen at the Ken Snyder Mine at Midas, Nevada where veins extend down to depths of approximately 700 metres.

The proposed drilling program is designed to explore the down dip and down plunge extension of the Discovery Zone bonanza gold/silver veins as previously reported and listed below and to follow up on the newly identified targets outside of the Discovery Zone.

Gold Silver Hole
Hole # Interval Length grade grade Type Company
------ ---------------- -------- --------- --------- ------- --------
(ft) (m) (ft) (m) oz/t g/t oz/t g/t
RMR-4 405-520 123.4 to 115 35.0 1.61 55.3 8.04 276 Reverse Romarco
158.5 Circul- Minerals
RMR-14 480-510 146.3 to 30 9.1 0.34 11.3 0.52 18 Reverse Romarco
155.4 Circul- Minerals
RPC-90-907 450-475 137.2 to 25 7.6 1.98 68.0 5.07 174 Diamond Phelps
144.8 Drill Dodge
RPR-89-14 275-290 83.8 to 15 4.6 0.91 31.2 3.09 106 Reverse Phelps
88.4 Circul- Dodge
320-330 97.5 to 10 3.1 1.41 48.4 3.42 117
360-370 109.7 to 10 3.1 1.27 43.5 3.18 109
RPR-89-19 440-455 134.1 to 15 4.6 0.92 31.6 12.69 435 Reverse Phelps
138.7 Circul- Dodge

This information has been published on SEDAR by previous explorers and is reported for historical purposes only. The Company has not evaluated the historical exploration program for it's compliance with NI 43-101.

Notice for exploration drilling at the Red Rock project in Esmeralda County, Nevada has been approved. The BLM notice includes a reclamation cost estimate and requirement to post a bond to meet all anticipated reclamation requirements under State law. The Company has requested tenders for this HQ core diamond drill program and drilling should begin in the early Fall.

Escape Gold is well funded to carry out this exploration program with over $4 million on deposit at the Canadian Imperial Bank of Commerce in cash and term deposits cashable on demand.

T. John Magee, P.Geo. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in this news release.

Certain statements presented herein may constitute "forward looking statements". Such forward-looking statements may include potential mineralization, resources and reserves, conclusions of prefeasibility and feasibility studies, estimates of future production, capital and operating costs, prices of metals and other unknown risks. These and other factors and uncertainties may cause material differences from future results as expressed or implied by these forward looking statements. These risks, uncertainties and other factors include but are not limited to the risks involved in the exploration, development and mining business.

CUSIP number: 2962931036

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Escape Gold Inc.
    T. John Magee, P.Geo.
    President and CEO
    (647) 436-0093
    (416) 368-7141 (FAX)