SOURCE: Gold Bag, Inc.

February 04, 2011 16:01 ET

Gold Bag's Focus Gold Corp Huicicila Technical Report Suggests Potential for 500,000 oz Au, Recommends Aggressive Exploration

RENO, NV--(Marketwire - February 4, 2011) - Gold Bag, Inc. (OTCBB: GBGI), operating as Focus Gold Corp., today released a Technical Report (the "Report"), pursuant to National Instrument 43-101, on the company's recently acquired Huicicila Project in Nayarit state, Mexico. The report was prepared for Focus Gold by consulting geologist William Feyerabend (the "Geologist").

The report describes the project as an "economic to bonanza grade gold-silver deposit" with the identification of "multiple veins with high gold analysis and gold demonstrated over 200 vertical meters." The report also points to the potential of discovering "more ore shoots of roughly the dimensions and grades of the ASARCO historical reserves."

Because of the high gold values shown in multiple veins, the reports states that "a focused exploration program could thus discover 500,000 ounces of gold" and that, "no social or environmental issues were discovered."

The report recommends continued and aggressive exploration and states, "The Huicicila Project, Nayarit state, Mexico, is an exciting exploration stage gold property made very attractive by high gold values."

The sampling program consisted of ten grab samples from various vein targets and the Miravella Vein dump. The key observation from the field examination is that the district hosts multiple veins and historical vein dumps with solid gold values.

The assay results of the sampling program are as follows:

Sample   Au Ag    
No. Wt kg PPM PPM    
886443 2.34 0.29 < 5   Grab from Miravella Vein
886444 2.80 1.81 10   Grab from Miravella Vein
886445 3.54 4.28 44   1 m channel from old tailings dump
886446 3.62 2.31 21   1 m channel from old tailings dump
886447 2.72 8.54 6   Hilltop outcrop vein
886448 1.74 5.48 12   Grab from vein at secondary structure
886449 2.50 21.10 670   Dump select, Trinidad Vein
886450 1.50 10.85 45   Dump select, San Patricio Vein
886452 1.24 0.08 < 5   2 m channel. Andesite.
886453 2.32 < 0.05 < 5   2 m channel. Andesite.

The assay results of the Miravella Vein Dump samples (No. 886445 and No. 886446) indicate ore grades that were discarded in the past but are considered good ore grades today, evidence of very high ore grades in the deposit as indicated in the historical records.

Of particular interest to Focus Gold are the assay results of samples 886449 and 886450, the Trinidad and San Patricio veins. These samples assayed respectively at 21.1 ppm and 10.85 ppm of gold with silver assays of 670 ppm and 45 ppm. These samples were taken from completely separate veins and indicate the potential discovery of new deposits and veins on this property.

Overall, the target at Huicicila is described in the report as, "an epithermal economic to bonanza grade gold-silver deposit which probably would be mined underground. The target ore shoots would be 100 to 300 meters in vertical extent, 100 to 300 meters in horizontal extent and mineable thicknesses of 1 to 20 meters."

The report notes that previous exploration focused on one known shoot on the Miravella Vein and states, "An aggressive and focused exploration program applying modern exploration techniques to the entire district rather than one ore shoot is recommended." The report further recommends an "exploration program of mapping and sampling to identify anomalous zones, trenching to acquire structural data and drilling to test the anomalies."

The consulting geologist and the report's author, William Feyerabend, has over thirty years of experience at all levels of exploration and development for several commodities in eight countries and is a member of the American Institute of Professional Geologists.

The complete NI-43-101 Technical Report and a historical third party geological report on the Huicicila Project are available at www.focusgoldcorp.com.

About Gold Bag Inc.

Gold Bag Inc., operating as Focus Gold Corp., is a Company focused on the acquisition and development of gold mining properties primarily in the Americas including a recently signed option agreement with Victoria Gold for two properties in the Timmins Mining District and through its wholly owned subsidiary Focus Gold Mexico Corp., the Huicicila mine in Mexico. For further information please visit www.focusgoldcorp.com.

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