Explor Resources Inc.
TSX VENTURE : EXS
FRANKFURT : E1H1
OTCQX : EXSFF
BERLIN : E1H1

Explor Resources Inc.

July 02, 2015 09:38 ET

Explor Commences East Bay Exploration Program

ROUYN-NORANDA, CANADA--(Marketwired - July 2, 2015) - , July 2, 2015 - Explor Resources Inc. ("Explor or the "Corporation") (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the start of the East Bay Property exploration program. The previous exploration program conducted by Explor Resources confirmed our interpretation of the mineralization with significant results. (Press release Feb.17, 2014). The exploration program will initially consist of a preliminary 1500 meter drill program to expand on our previous success.

This program is in line with the Corporation's strategy of conducting exploration along the Porcupine Destor Fault Zone (PDFZ), where several notable gold deposits have been found in the past, including the Timmins mining camp which produced more than 65 million oz of gold. The Corporation now owns 3,842 ha of land along this section of the PDFZ, as shown on the attached plan. Explor's East Bay property is contiguous and wraps around the western and northern portion of the Clifton Star Resources' Duparquet property.

The East Bay Gold Property is located to the west of the Consolidated Beattie and Donchester Gold Property and contiguous to the ground on which Clifton Star Resources Inc. intersected wide width of gold mineralization (Press Releases dated June 19 and June 6, 2013). The former Consolidated Beattie and Donchester Gold Mines, produced over 1.0 million oz of gold between 1933 and 1956. Clifton Star in a previous press release announced (Press Release dated April 09, 2014) significant proven and probable reserves of 1,895,530 oz at 1.50 g/t Au and a measured and indicated resource of 1,127,972 oz at 1.48 g/t Au on their property.

The previous exploration program consisted of five holes drilled in 2013 (EXS-13-01 to EXS-13-05) and were spotted according to a follow-up drill program proposed in 1988. The first four drill holes encountered a sequence of highly sheared and altered felsic tuffs and quartz porphyries, with subordinate felsic and mafic volcanics and ultramafics. The fifth hole EXS 13-05 was drilled to a depth of 345.0 meters. It was completed on target returned very encouraging results at depth and near the end of the hole, including two narrow gold-bearing intersections similar to those reported in 1945 and a very long intersection of anomalous gold mineralization. The two narrow intersections consist of 2.61 g/t Au over 1.2 m in strong silicified, quartz-dolomite (ankerite) tourmaline flooded, strongly sheared felsic tuffs; and 2.0 g/t Au over 2.0 m intermittently quartz-dolomite (ankerite) flooded strongly sheared quartz porphyry.

The core from Hole EXS-15-05 was observed to have a strong sericite alteration and 1-10% finely disseminated pyrite. The long interval of anomalous gold mineralization was cored over 19.5 m (64ft), returning assays ranging 122 to 809 ppb (0.12 to 0.81 g/t Au). This thick anomalous zone is hosted by strongly sheared and sericitic quartz porphyry, marked by 10-40% quartz-dolomite (ankerite) flooding with fuchsite and locally, tourmaline and epidote; fine disseminated pyrite occurring in traces to 1-2% locally. Core angle measurements on the tectonic fabric indicate a vertical to very steep southern dip.

Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: "We are extremely pleased with the East Bay property. Explor Resources is the owner of the largest contiguous land package in the Duparquet Mining Camp. This property completes a wraparound to the west and northwest of the structure hosting the Beattie-Donchester Mines. Explor believes that the structure continues onto the Explor ground. Very little substantive exploration has been completed on Explor's East Bay Gold Property."

Chris Dupont P.Eng is the qualified person responsible for the 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. Neither the TSX Venture Exchange 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 Ltd. 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.

A map is available at the following link: http://media3.marketwire.com/docs/1015430a_East_Bay.jpg.

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