Habanero Resources Inc.

Habanero Resources Inc.

November 09, 2011 03:01 ET

Habanero Commences Operations on "Grande-Vallée North" Aluminous Clay Prospect in Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2011) - Habanero Resources Inc. ("Habanero" or the "Company") (TSX VENTURE:HAO) (PINK SHEETS:HBNRF) (FRANKFURT:HRJ) wishes to announce that it has now commenced operations on its 100% owned 'Grande-Vallée North' Aluminous Clay Prospect. HAO recently (October 7, 2011) acquired the "Grande-Vallée North" Aluminous Clay Prospect consisting of 5,574 contiguous acres. This prospect directly borders to the north Orbite Aluminae Inc.'s (ORT—TSX) 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."

Jason Gigliotti, President of Habanero Resources stated, "It is great to be underway on the 'Grande-Vallée North' Aluminous Clay Prospect. We are optimistic that the clay deposit currently defined by Orbite Aluminae Inc. dose not stop at the edge of their property, and we look forward to getting the work completed to enable HAO to further this prospect. We are also currently awaiting results from our Haldane Silver Prospect in the Yukon and for the results from our Lezai Gold Prospect in Quebec. Company President, Jason Gigliotti, will also be presenting at the Montreal Investment Conference on November 18th and 19th, 2011 at the Hilton Montreal Bonaventure to discuss all of Habanero's current projects, especially the two Quebec projects that are currently underway. Clearly, HAO is in an active period of corporate growth and management is pleased to be out trying to further explain HAO's growth strategy to current and potential individual and institutional shareholders."

On November 7th, HAO was informed by Equity Exploration Consultants Ltd. in regards to the White Gold Prospect in the Yukon that "the work to date has outlined a 2.5 x 1.0 km multi-element soil anomaly. This low-amplitude anomaly is north-northwest trending. The zone is open to the southwest and more work, including soil sampling, mapping and prospecting is warranted to determine its nature and extent." This prospect directly borders Kinross' property that was acquired via a takeover of Underworld Resources. HAO's property is the closest property to the actual 'Golden Saddle' discovery.

On November 2, 2011, HAO was informed by Apex Geoscience Ltd. that, "Exploration crews have completed a preliminary geologic reconnaissance of the Lezai gold prospect in Quebec. A total of five priority areas were targeted within claims based on geologic compilation work indicating favourable geology and gold potential. Crews recently submitted a total of 100 rock grab samples comprising both outcrop and glacially transported boulders to ALS Minerals Val d'Or laboratory for gold fire assay and multi-element inductively coupled plasma mass spectrometry analysis. Mineralization consisting of silicification and quartz of veining mafic volcanic rock containing pyrite and lesser chalcopyrite was noted at two of the five sites examined." The Lezai Gold Prospect comprises approximately 55,100 contiguous acres, which are located approximately 125 kilometres northwest of Chibougamau, Quebec.

Work on the Lezai Gold Prospect is supervised by Kristopher J. Raffle, PGeo, senior geologist for APEX Geoscience Ltd. of Edmonton, Alta., who is the qualified person for the project as defined by National Instrument 43-101. Mr. Raffle has reviewed and approved the portion of the technical content of this news release as it relates to the Lezai Gold Prospect.

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 Aluminae 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 and the White Gold Prospects were provided by and has been reviewed and approved for content by Henry Awmack, 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.

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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