Habanero Resources Inc.

Habanero Resources Inc.

October 07, 2011 03:01 ET

Habanero Acquires 5,574 Acre "Grande-Vallée North" Aluminous Clay Prospect in Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2011) - Habanero Resources Inc. ("Habanero" or the "Company") (TSX VENTURE:HAO) (PINK SHEETS:HBNRF) (FRANKFURT:HRJ) wishes to announce that it has acquired the 5,574 contiguous acre "Grande-Vallée North" Aluminous Clay Prospect. This prospect directly borders to the north Orbite V.S.P.A. Inc.'s (ORT.A—TSX.V) 6,441-hectare Grande-Vallée property, the site of an aluminous clay deposit located 32 km northeast of Murdochville, Québec. According to Orbite's website, "A NI 43-101 compliant technical report on the disclosure of information relating to mineral projects in Canada indicates that the clay deposit at the Grande-Vallée property contains, conservatively estimating a density of 2 tonnes per cubic metre, 800 million to 1 billion tonnes of "indicated mineral resources" in the first 100 metres depth of the Marin sector alone. The property is strategically located near several deepwater ports and across the St. Lawrence River from the province's major aluminum smelters." The acreage was acquired through Gestim.

On Sept 29th, 2011, HAO announced the completion of the drill program on the Haldane Silver Prospect in the Yukon. According to the project geologist and qualified person for the property Murray Jones, P. Geo., "Habanero drilled 1,405 m in 9 holes over a kilometre of strike on the Mt Haldane Vein System and intersected mineralization characteristic of the Keno Hill Mining district, including galena-sphalerite-siderite mineralization and massive manganese-iron oxides in drill holes up to 1000 m apart. At the Main Zone, where a 2011 surface chip sample in oxide mineralization returned 223 g/t Ag over 3.6 m (August 23, 2011), 3 drill holes intersected galena-sphalerite mineralization or massive manganese and iron oxides ranging from 25 m to 200 m depth. At the Middlecoff Zone, 1,000 metres south of the Main Zone, a drill hole intersected massive galena-sphalerite-siderite mineralization in a fault zone 150 m along strike from underground workings that produced 24.7 tonnes of high grade mineralization grading 3,101 g/t Ag (June 10, 2010). Drilling intersected a strong structure with iron and manganese oxides 550 m south of the Main Zone, in the Johnson Adit area where a select sample from the underground rock dump returned 2,520 g/t Ag (August 23, 2011). All samples have now been submitted to ALS Minerals' prep lab in Whitehorse and assay results are expected in several weeks."

President Jason Gigliotti stated, "We are very pleased to acquire significant acreage bordering Orbite's alumina discovery. This new prospect solidifies our Quebec presence which is one of the most mining friendly regions of the world. We are hoping to be on this new property shortly and also anticipate work to commence on our other Quebec property, the "Lezai" prospect in the near future. At the same time we are anticipating receiving our drilling assays from the Haldane Silver Prospect in the Keno Hill Silver District of the Yukon. Despite the choppy market conditions, we continue to look for assets that could build Habanero's value and look forward to commencing work shortly in Quebec."

Habanero is a diversified junior company with the following prospects; the White Gold Prospect in the White Gold Region Yukon, bordering Kinross' Golden Saddle discovery; the Haldane Silver Prospect in the Keno Hill Silver Region of the Yukon bordering Alexco Resources Corp's Bellekeno property; a sizable land holder within land prospective for lithium in Alberta; significant acreage in Quebec bordering Beaufield Resources Inc.; holdings in the Alberta Oilsands: and now the Grande-Vallée North aluminous clay prospect near Murdochville Quebec, bordering Orbite V.S.P.A Inc's deposit.

If you would like to be added to Habanero's email updates list, please send an email to ir@habaneroresources.com requesting to be added.

The technical information in this news release on the Haldane was provided by and has been reviewed and approved for content by Murray Jones, P.Geo., of Equity Exploration Consultants Ltd., a qualified person as defined under the terms of National Instrument 43-101.

To view maps of these projects please go to http://www.habaneroresources.com.

Jason Gigliotti, President

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

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