Expedition Mining Inc.

Expedition Mining Inc.

December 01, 2011 09:15 ET

Expedition Mining's Soil Geochemical Survey Outlines Multiple Multi-Element Anomalies on Mt. Mervyn Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2011) - Expedition Mining Inc. (TSX VENTURE:EXU) (the "Company") wishes to announce the results from the 2011 work program on the Mt. Mervyn Property, located between the Kathleen Lakes fault and the Dawson thrust, along the Rackla Gold Belt in the Yukon. This work consisted of mapping, prospecting, stream and rock sampling from a helicopter supported camp.

The work program was guided by an airborne geophysical survey which had been flown in the spring. In the region of the Mt. Mervyn property the survey demonstrated that the strongest geophysical anomalies are east-west trending and appear to coincide with the projected location of the Kathleen Lakes fault. The initial stream sediment sampling program (NR 11-14, August 30, 2011) resulted in numerous multi-element geochemical anomalies throughout the property. These anomalies are believed to be significant as they include the important pathfinder elements of As, Sb, Hg and Tl, which have been associated with gold mineralization at the Rau and Nadaleen Trends of ATAC Resources.

The follow-up program to the stream sediment sampling consisted of systematic soil sampling along contour lines within the anomalous drainages and a grid based survey in the northwestern corner. A total of 1534 soil samples and 41 rock samples were collected and analyzed for gold and a 51 element ICP package at AGAT Laboratories in Mississauga, Ontario.

Reconnaissance mapping has shown the property to be underlain by limestones, clastic sedimentary units and ultramafic rocks.

Anomalous gold values in soil were concentrated along a 6 km by 1 km belt in the southeast corner of the claim block, south of the projection of the Kathleen Lakes structure. The airborne survey shows a series of generally easterly trending lineaments subparallel to, and located south of the Kathleen Lakes structure. A strong southerly trending linear is also evident which extends for over 3 kms south of the Kathleen Lakes structure, to and beyond the edge of the property. Gossanous drainages were observed in this area during the first pass stream sediment sampling program earlier in the season.

The strongest mineralization identified to date is associated with a 1.5 km square area on the eastern portion of the claims. This multi-element anomaly is coincident with the projected intersection of the easterly trending Kathleen Lakes fault and the southerly trending structural zone. The anomaly is observed across 4 soil lines, remains open to the west, and is partly coincident with the zone of anomalous gold values.

Table 1 shows the anomalous threshold values for the elements of interest along with the maximum values obtained from the soil sampling program. Plots of the soil data for all of these elements are available on the Company's website (www.expeditionmining.com). To go directly to the maps, click here. The significance of the soil survey results is that the anomalies form coherent zones which in most cases can be traced across several lines.

Table 1 Mt. Mervyn Project Soil Data
Au Ag As Cd Hg Pb Sb Tl Zn
ppb ppm ppm ppm ppm ppm ppm ppm ppm
Ave 2.8 0.48 18.1 0.61 0.09 20 2.6 0.19 146
Min 0 0 0.6 0.03 0 3.3 0.12 0 11.3
Max 61 5.59 155 26.1 0.85 175 107 1.83 3180
95th% 7.9 1.45 36.7 1.6 0.24 39.3 8.1 0.42 330

Planning is underway for the 2012 follow-up work programs. The Company is very pleased with the anomalies generated by the reconnaissance level exploration completed during the 2011 field season, which has provided numerous targets for additional work. The 2012 exploration program will include additional soil sampling, trenching and ground geophysical surveys to define drill targets. Geological and logistical support for the program is being provided by Aurora Geosciences.

"We are very pleased with the program of exploration completed by Aurora Geosciences in 2011," Ron Atlas, President and Chairman stated. "The results to date are very encouraging on both the Mt. Mervyn and the Joy properties. Our goal in 2012 will be to define drill targets early in the season. Our permanent, fully winterized camp has been established and we have funds on hand to complete a drill program without additional financing if the targets are deemed of sufficient merit."

Mr. James Chapman, P.Geo, is the Qualified Person as required under the National Instrument 43-101. He is responsible for the design of the program, and all exploration work on the Mt. Mervyn will be done under his supervision. Mr. Chapman has read and approved the technical content of this news release.

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.


Ronald Atlas, President & Chairman of the Board


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.

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