Expedition Mining Inc.
TSX VENTURE : EXU

Expedition Mining Inc.

December 02, 2010 11:00 ET

Expedition and Aldrin Announce Results From 2010 Trenching Program and Additional Soil Sampling on Brew Property, White Gold District, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 2, 2010) - Expedition Mining Inc. (TSX VENTURE:EXU) (the "Company") and Aldrin Resource Corp. (TSX VENTURE:ALN) are pleased to report results from the 2010 trenching program and additional soil sampling on its Brew project located in the Yukon Territory, approximately 20 kilometres east of Kinross' White Gold project and 35 km north of Kaminak's Coffee project.

Key points include the following:

  • Soil surveys delineated a strong northwest trending 3 km long gold-in-soil anomaly across the central grid area and a second 3 km long parallel anomaly, 1 km to the north.

  • Gold is associated with typical White Gold District pathfinder elements arsenic, antimony and mercury.

  • Highest gold-in-soil values remain to be trenched in 2011, followed by a diamond drill program.

The additional 981 soil samples were collected to better define and delineate the extent of several open-ended gold anomalies in the Central Zone along the Main Northwest Trend. The survey indicated continuity to a west-northwest trending anomaly in the northern grid area and strengthened the anomaly in the Central Zone, with the latter containing a maximum value of 730 ppb Au (Figure 1). Overall the 2009 and 2010 soil surveys delineated two strong parallel gold-in-soil anomalies each 3 km long (Figure 1). Both gold-in-soil anomalies are associated with elevated arsenic, antimony, mercury, lead, molybdenum, lanthanum and peripheral nickel anomalies.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/exu-map1.pdf.

The complex geology identified in the 2009 to 2010 reconnaissance mapping and ground magnetic surveys suggests the Brew property is underlain by multiple northwest trending fault slices, a critical structural feature needed to host gold mineralization in the district. Structure is a key feature within the White Gold District as stated by Dr. Rob Carpenter, president of Kaminak Gold Corp., in reference to their Coffee property: "The three most important things in targeting gold are structure, structure and structure." (MEG luncheon presentation October 13, 2010, available for viewing at www.kaminak.com). 

Approximately 1500 m of trenching was outlined in eight trenches in 2010 to test soil geochemical anomalies obtained in the 2009 and the 2010 soil surveys. Due to early onset of winter conditions only five trenches, totaling 1000 m, were completed, with four completely chip sampled and only grab samples collected from Trench 10-3 (Figure 1). The highest values in-soil (maximum of 874.1 ppb Au) have not been trenched and complete soil results from the additional 981 samples have only just been received. The trenches contain anomalous arsenic, antimony and iron-rich gossans.

Significant fault zones, including breccias, were intersected in the Brew trenches returning encouraging iron values, with 6% Fe over 40 m in Trench 10-1 (including 14.81% Fe over 4 m), 6.1% Fe over 45 m in Trench 10-2, and maximum values of 9.32% Fe in Trench 10-4 and 12.14% Fe in Trench 10-5. Slightly elevated gold values were obtained in more brecciated zones. Elevated iron numbers from the trench samples suggest the rock originally contained high percentages of sulfides which may have mobilized gold during oxidation.

Based on the favourable geological and structural setting, magnetic signature, favourable trace element geochemistry, presence of placer gold in nearby creeks and similarities and proximity to the White Gold and Coffee projects, the company remains encouraged with the potential for discovery of economic concentrations of gold mineralization on the BREW property.

An additional 1,000 m of trenching and approximately 1,000 soil samples to the northeast are planned for 2011, followed by a Phase 2 diamond drill program. Proposed trenches are shown on Figure 1.

Expedition Mining is conducting exploration on the Brew property under a joint venture agreement with Aldrin Resource Corp. whereby Expedition can earn a 50% interest in the property. Information with respect to the Brew property contained in this press release is approved by Bert W. Jeffries, PGeo, qualified person required under National Instrument 43-101.

Expedition Mining Inc. (TSX VENTURE:EXU) is a publicly held Canadian exploration company focused on acquiring, exploring and developing mineral properties located in favorable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.

CAUTION REGARDING FORWARD LOOKING STATEMENTS:

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Expedition Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the Brew property, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold. Although Expedition Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Expedition Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

ON BEHALF OF THE BOARD:

Ronald Atlas, President & Chairman of the Board

Expedition Mining Corp.

ON BEHALF OF THE BOARD:

Johnathan Moore, President

Aldrin Resource Corp.

Standard & Poor's Listed

Issued Share Capital: 47,484,068

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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