Everton Resources Inc.
TSX VENTURE : EVR
FRANKFURT : ERV

Everton Resources Inc.

January 12, 2011 08:30 ET

Everton's Partner, Aurizon Mines Ltd., to Spend $3.6 Million on its Opinaca-Wildcat Property - in James Bay, Quebec

7,000 metres of drilling planned

OTTAWA, ONTARIO--(Marketwire - Jan. 12, 2011) - Everton Resources Inc. (TSX VENTURE:EVR)(FRANKFURT:ERV) and its partner Aurizon Mines Ltd. ("Aurizon") (TSX: ARZ, NYSE Amex: AZK) are pleased to report Aurizon`s plans to spend $3.6 million, which includes 7,200 metres of drilling, at Everton`s Opinaca-Wildcat Property.

Following the signing of letters of intent in the third quarter 2010, Aurizon plans to initiate an exploration program of surface sampling, geophysical surveys and drilling at the Opinaca-Wildcat properties in 2011 at a budgeted cost of $3.6 million. Approximately $1.0 million of expenditures, including 2,000 metres of drilling, is planned for the Opinaca property, and approximately $2.6 million of expenditures, including 5,000 metres of drilling, is planned for the Wildcat property.

Aurizon can earn up to a 60% interest in the Opinaca Property (Opinaca A and B), comprising 649 mineral claims covering 338 square kilometres, and up to a 65% interest in the Wildcat Property, comprising 432 mineral claims covering 225 square kilometres. Both properties are situated in the James Bay area, 350 kilometres north of Matagami, Quebec and in close proximity to Goldcorp`s Eleonore Project. (See news release dated 2010-09-16). The Opinaca property is owned by Everton and Azimut as to an undivided 50-per-cent interest each, and comprises 649 mining claims covering 33,849 hectares and is located in the area of Goldcorp`s Eleonore project. The Wildcat property is 100% owned by Everton Resources.

In Other News:

The Board of Directors has approved an amendment to the Company`s Stock Option Plan. Pursuant to the policies of the TSX Venture Exchange, the maximum number of shares reserved for issuance under the Stock Option Plan will be increased to 10,277,629 common shares. This increase is subject to regulatory approval.

Everton

Everton is partnered with Brigus Gold on actively exploring in the Dominican Republic adjacent to the US$3 billion Pueblo Viejo project, currently being developed by the world's largest gold mining company, Barrick Gold Corporation (60%) (NYSE/TSX: ABX) in partnership with Goldcorp (40%) ("Goldcorp") (NYSE: GG, TSX: G). Planned divestiture of its 100%-owned subsidiary Hays Lake Gold containing the Shoal Lake Gold Project in Kenora, Ontario is expected to provide internal funding to advance the Ampliacion Pueblo Viejo project. Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Aurizon Mines Ltd. who is advancing Everton's interest by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit.

This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Everton's plans, objectives, strategies, expectations and intentions. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to Everton, or its management, are intended to identify such forward-looking statements. Many factors could cause Everton's actual results, performance or achievements to be materially different any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this press release represent Everton's views as of the date of the release. While Everton anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. All subsequent written and oral forward-looking statements attributable to Everton or persons acting on its behalf are expressly qualified in their entirety by this notice. 

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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