Gold Finder Explorations Ltd.

Gold Finder Explorations Ltd.

February 24, 2011 09:15 ET

Gold Finder Provides Update, Plans Spring Drilling for Golden Rose

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2011) - Gold Finder Explorations Ltd. ("Gold Finder") (TSX VENTURE:GFN) provides an update on activities related to the Golden Rose Property located in northeastern Ontario.

Highlights for the Golden Rose Property:

  • Completion of its Phase 2 diamond drill program intersecting high-grade gold bearing zones (see press releases dated December 14th, 2010, and January 13th, 2011).
  • Completion of a downhole 2D array induced polarization survey completed by JVX Ltd. on drill holes GR10-37, GR10-40, GR10-41, and GR10-42. 
  • The 3D chargeability model of the 2D array between GR10-37 and GR10-42 showed that the two holes are connected with a chargeable feature that may represent pyrite/chalcopyrite mineralization that correlates with reported gold values intersected in the recently completed drill program. The two drill holes are separated by approximately 138 m with several drill Gold Finder drill holes located in-between. However high priority areas are located immediately to the east and west of GR10-42, as well as to west of GR10-37 where no current drilling has been completed by Gold Finder.

Due to the resultant findings of significant mineralization obtained in the recently completed drill program and the positive results of the downhole induced polarization survey, Gold Finder intends to plan a spring diamond drilling program on the property.

Gold Finder Corporation is also the owner of the Crescent Mine, in Northern Idaho. United Mining Group (TSX:UMG) is progressing this mine back into production at this time. Gold Finder will retain 20% interest in the Crescent when UMG completes their earns-in option to acquire 80% interest in this project. Gold Finder owns 2.4M shares of UMG. Gold Finder also owns 3.65M shares of Andover Ventures Inc. (TSX VENTURE:AOX). Gold Finder currently has 9,137,850 issued & outstanding shares, and approximately $1.5M in the bank.

On behalf of the board of Directors,

David Greenway, President and CEO

Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

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