Explor Resources Inc.
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Explor Resources Inc.

October 19, 2015 09:10 ET

Explor Announces Start of Diamond Drill Program on Timmins Porcupine West Property

ROUYN-NORANDA, CANADA--(Marketwired - Oct. 19, 2015) - Explor Resources Inc. ("Explor or the "Corporation") (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the beginning of a diamond drilling program on the Timmins Porcupine West Property ("the Property"). The recently completed review of the technical data by Teck Resources Limited ("Teck") has prompted a diamond drilling program. Teck has the option to earn up to a 70% interest on the Property from Explor (press release dated December 29, 2014). The proposed 2015 drill program will be conducted under the supervision of Teck.

Explor's previous work successfully confirmed Explor's model and the gold bearing mineralized structure for more than 2000 meters of strike length at a vertical depth from 600 to 900 meters. It is currently open on strike and at depth. The first six phases of drilling (115,000 meters) were concentrated on the south limb of the geo-syncline.

Teck has reviewed Explor Resources' data and reclassified a gold-bearing mineralized system with high grade West Deep Zone, and a sparsely drilled gap zone in between and porphyry zones to the east over a 2000 meters strike length.

The proposed 2015 diamond drill program has been designed with 4 holes for initial drill testing of Teck's model. The program comprises one step-out hole in the high grade West Deep Zone, two holes in the sparsely drilled gap between the West Deep and Porphyry zones and one hole to test the up-dip extent of mineralization within and below the Porphyry zones, for a total of approximately 3,600 meters. Up to 1,400 meters of additional drilling may be completed (for a total of up to 5,000 meters), as either new holes, or as wedges off of 2015 proposed holes, depending on results obtained.

Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented, "The new campaign of diamond drilling is planned to build on the existing database and establish continuity and grade of the mineralization and test for additional high grade zones.

The Timmins Porcupine West Gold Property consists of 185 unpatented mining units and 3 patented claims located in the Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total 3,200 hectares. The highway 101 bisects the property and provides access from the city of Timmins located 13 km to the east. The 3-D geological model may be viewed on our website: www.explorresources.com. 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 was approximately 350 meters long and 45 meters wide and open below 350 meters of vertical depth.

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 and is spatially associated with the Pearl Lake Porphyry.

Christian Dupont, P.Eng is the qualified person responsible for the technical information contained in this release.

Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQX (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).

This press release was prepared by Explor Resources Inc. Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Québec, 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 Québec with approximately 33% in Ontario and 67% in Québec. 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 Corporation was continued under the laws of Alberta in 1986 and has had its main office in Québec since 2006.

Explor Resources' Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. Teck Resources Limited is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:

Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows:

• Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au)

• Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au)

Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows:

• Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au)

• Inferred: 393,000 oz (5,185,000 tonnes at 2.36 g/t Au)

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 be 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.

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