Expedition Mining Inc.
TSX VENTURE : EXU

Expedition Mining Inc.

August 18, 2011 09:15 ET

Expedition Mining Identifies Numerous Multi-Element Anomalies on Joy Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2011) - Expedition Mining Inc. (TSX VENTURE:EXU) (the "Company") wishes to announce the results from the Phase I work program on the Joy property located in the Rackla Gold Belt in the Yukon. This work consisted of mapping, prospecting, stream sediment sampling and rock sampling from a helicopter supported camp on the Joy property.

The Phase I work program was guided by an airborne geophysical survey which was flown in the spring of 2011. The Joy property survey demonstrated that the strongest geophysical anomalies are east-west trending and appear to coincide with the projected locations of the Kathleen Lakes fault and the Dawson thrust fault. The majority of the secondary drainages in this area are north-south trending providing good sections and exposure through the stratigraphic sequence.

The stream sampling program included a series of Bulk Leachable Extractable Gold (BLEG) samples which gave a lower detection limit and greater sensitivity of analyses. In this area not all streams are amenable to BLEG sampling due to the high topographic gradient and active water flow which flushes out the fine sediment required for this form of sampling. A total of 91 stream, 7 BLEG, and 46 rock samples were collected from the Joy property and analysed for gold and a 51 element ICP package at AGAT Laboratories in Mississauga, Ontario.

The majority of the streams drain to the north, and anomalous values were derived from all of these drainages. Only three drainages occur on the southern flank of the property, which also returned locally anomalous results in arsenic and mercury. Anomalous values are considered to be anything over the 95th percentile of values for that element. Several samples contained statistically anomalous gold values which correlate with the multi-element anomalies. The following table highlights the most significant results.

Table 1: Significant Stream Sediment Samples
Sample Au Ag As Cd Co Cr Cu Hg Ni Sb Tl Zn
Number ppb ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm
5267362 0.09 4.0 0.11 61.1 486 35.9 0.04 1133 0.3 0.04 69
5267384 5.93 0.06 7.6 0.04 80.9 639 13.2 0.01 1830 0.0 0.01 22
5267387 1.30 62.9 2.94 12.8 68 64.8 0.51 143 4.5 0.40 599
5267389 0.96 62.0 6.98 11.2 42 77.1 0.50 109 4.6 0.36 649
5267390 6.36 0.40 21.0 1.60 23.0 99 76.0 0.20 119 1.8 0.30 310
5267391 7.14 0.84 25.8 1.92 19.2 41 176.0 0.37 53 2.8 0.41 291
5267393 8.88 0.89 31.1 2.54 19.7 30 156.7 0.36 70 2.8 0.49 261
5267195 0.38 18.2 0.72 42.2 308 46.3 4.63 617 1.2 0.19 130
5267196 17.2 0.40 25.0 2.20 39.0 254 45.0 1.00 485 1.4 0.20 406
5267204 0.52 20.1 2.30 13.4 45 45.2 0.20 93 1.5 0.25 2
5267205 0.60 29.9 1.68 15.5 59 41.1 0.23 121 1.5 0.18 2
5267209 14.1 0.27 17 0.60 17 35 44 0.4 63 0.8 1.00 1
5267233 10.6 0.60 14 0.50 12 16 34 0.2 29 0.4 0.10 153
95th % 5 0.60 49.0 2.20 42.0 254 80.0 0.70 631 1.7 0.40 305

The strongest multi-element anomalies are located in the northwest and northeast corners of the property from streams that drain an easterly trending ridge through the centre of the claim block. Initial reconnaissance mapping suggests that the stratigraphic units in the area may have an east-west orientation as demonstrated by the geophysical results.

The rock sampling results completed to date have corroborated the stream sediment sampling. Sulphide bearing outcrops in the northwest of the property have been named the Virga showing. This drainage also contained strongly anomalous sediment samples, indicating that the geochemical program is an effective tool in this environment. Rock samples 5267332 to 337 in the table below are from the Virga showing, which appears to be underlain by sediments and ultramafic units.

Table 2: Rock Sample Results
Sample Ag As Cd Cr Cu Hg Ni Pb Sb Tl Zn
Number ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm
5267332 0.05 1.2 0.02 1260 6.4 <0.01 1790 2.9 0.28 0.05 21.1
5267333 0.03 97.1 0.01 353 2.5 2.69 142 3.4 11.7 0.24 15.6
5267334 0.06 1920 0.02 271 3.1 6.71 355 1.3 50.7 2.74 11.8
5267335 0.19 1770 0.51 992 13.8 2.31 2140 8.4 34.3 0.77 91.1
5267336 5.11 3670 595 665 199 82.5 642 5.24% 89.5 0.61 8.51%
5267337 0.28 658 5.72 12.5 9.2 0.62 79.7 113 1.47 0.07 505
5267276 0.56 252 7.06 174 27.4 3.32 328 769 13.7 0.04 63.2
5267277 0.02 0.9 0.02 1290 1 0.02 1870 1.7 <0.05 <0.02 23.1
5267289 0.44 4.5 0.19 882 3810 0.02 1040 1.5 0.05 0.03 136
95th % 0.56 592 3.9 914 184 2.6 1532 75 29 0.48 348

To view the Rock Sampling and Stream Sediment Sampling maps on our website, please click here.

A fully winterized camp has been established to support the current Phase II work program. This program will include mapping and rock sampling, along with both grid and contour soil sampling to further refine the nature of the known showings, along with additional prospecting to evaluate the remainder of the property. Geological and logistical support for the program is being provided by Aurora Geosciences.

The Company also completed field work on the Mt. Mervyn property and results are expected shortly. The Mt. Mervyn property is comprised of 314 unpatented mining claims, approximately 6,564 hectares (65.64 sq km), and located in the Mayo Mining District of central Yukon. It is five kms from ATAC Resources' Rau Gold Property, where Carlin-type gold mineralization has been discovered, and adjacent to Strategic Metal's claim block.

Information with respect to the Joy property contained in this news release is approved by James Chapman, PGeo, a qualified person required under National Instrument 43-101.

Expedition is a publicly held Canadian exploration company focused on acquiring, exploring and developing gold properties located in favourable 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. For additional information concerning Expedition Mining Inc. or its various exploration projects please visit Expedition's website at www.expeditionmining.com.

ON BEHALF OF THE BOARD:

Ronald Atlas, President & Chairman of the Board

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 its properties, 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.

Standard & Poor's Listed

Issued Share Capital: 56,360,318

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.

Contact Information