Explor Resources Inc.
TSX VENTURE : EXS

Explor Resources Inc.

July 22, 2009 16:05 ET

Explor Acquires Timmins Porcupine West Property

ROUYN-NORANDA, QUEBEC--(Marketwire - July 22, 2009) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the acquisition of the Timmins Porcupine West Gold Property in Bristol and Ogden Townships in Ontario. The property is located in the famous Timmins-Porcupine mining camp within proximity to past and existing producers.

The Timmins Porcupine West property consists of 106 unpatented mining units located in the Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total 1,930 hectares as shown on the attached property map. The property is contiguous with West Timmins Mining Inc. (WTM) where WTM intersected 83.40 meters (273.55 feet) grading 12.75 g/t (0.37 oz/t) on their property. (WTM Press Release June 24, 2009) The highway 101 bisects the property and provides access from the city of Timmins located 13 km to the east.

Explor Resources inc., will pay a total of $110,000 CDN and issue 5,000,000 common shares over a 2 year period for an Option to acquire a 100% interest in the Timmins Porcupine West Gold Property.

The property has been explored since 1927 by numerous ground geophysical surveys and diamond drilling of up to 111 holes. In 1984, Dome Exploration discovered and delineated a gold mineralized zone that is approximately 350 meters long and 45 meters wide. The zone strikes east northeast and dips to the north at 70 to 80 degrees. Drill programs by Teck Corporation, Cameco Gold and TOM Exploration Inc., have extended the mineralization to 350 meters of depth. The gold mineralization to date appears to be associated with a major porphyry unit.

The most significant deposits in Timmins are spatially associated with porphyry units that are in proximity to the Porcupine Destor Fault. The deposits appear to be also associated with splay faults that trend off to the North of the Porcupine Destor fault inside an interpreted splay fault corridor as shown on the attached plan.

The Timmins Porcupine West Project has as a Target Model "The Hollinger-McIntyre-Coniaurum System." The Hollinger-McIntyre-Coniaurum (HMC) System has produced a total of over 30 million oz of gold is spatially associated with the Pearl Lake Porphyry. The high-grade gold bearing quartz veins which hosted the bulk of the gold at the HMC occurred in the adjacent mafic volcanics, located outboard from the porphyry itself.

Explor intends on the utilization of the existing historical data to create a 3D litho and mineralization model to generate high quality drill targets with an interpreted significant gold mineralization inside that corridor favourable rock package.

Explor Resources Inc. is a public listed company trading on the TSX Venture (EXS).

This press release was prepared by Explor Resources Inc. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Chris Dupont P.Eng is the qualified person responsible for the information contained in this release.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Company is headquartered in Quebec and was incorporated in Alberta in 1986.

Explor Resources Inc. is a public listed company trading on the TSX Venture (EXS).

This press release was prepared by Explor Resources inc. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This document may contain forward-looking statements relating to Explor's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

A map of the Timmins Porcupine West Gold Property is available at the following address: http://media3.marketwire.com/docs/xplr-0722.pdf

Contact Information

  • Explor Resources Inc.
    Christian Dupont
    President
    800-388-8668 or 819-797-4630
    819-797-6050 (FAX)
    www.explorresources.com
    or
    Investor Relations:
    Michael D'Amico
    Bay Street Connect Inc.
    1-647-500-6023