Habanero Resources Inc.

Habanero Resources Inc.

August 24, 2012 03:01 ET

Habanero Resources Inc.: Grand-Vallee North Aluminous Clay Prospect Exploration Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 24, 2012) - Habanero Resources Inc. ("Habanero" or the "Company") (TSX VENTURE:HAO)(PINKSHEETS:HBNRF)(FRANKFURT:HRJ) is pleased to provide the following exploration update with respect to Grand-Vallée North Aluminous Clay Prospect near Murdochville, Quebec:

Phase one geologic mapping and soil sampling within the Grand-Vallée North Prospect is now complete. Exploration crews have collected 1,658 soil samples at 50 m intervals along 400 m spaced gridlines within the southern part of Habanero's claims adjacent to the Orbite Aluminae Inc.'s ("Orbite") Grand-Vallée property, and 800 m spaced reconnaissance gridlines with the northern claims. The survey results define numerous multi-sample and multi-line aluminum in soil anomalies. In the coming days, follow-up prospecting and infill sampling of soil anomalies at 100 and 200 m line spacing will be completed, with a diamond drill program to test high-priority targets to follow shortly.

Jason Gigliotti, President of Habanero, stated, "We are pleased to complete this phase of the Grand-Vallée North Prospect. Management is optimistic regarding the upcoming drill program as the samples gathered to date on the prospect are encouraging. New red clay zones have been encountered and samples gathered to date, in the highest priority target areas, have returned grades at or above the cut off grades Orbite used for their deposit which directly borders Habanero's property to the south."

Work on the Grand-Vallée North Prospect is supervised by Kristopher J. Raffle, P.Geo. (BC), Senior Geologist for APEX Geoscience Ltd. of Edmonton, AB, who is the qualified person for the project as defined by National Instrument 43-101. Mr. Raffle has reviewed the portion of the technical content of this news release as it relates to the Grand-Vallée North Prospect. To ensure accuracy of the results obtained, the portable XRF instrument has been calibrated using powder pulps from the 2011 samples analyzed by whole rock XRF at ALS Minerals, North Vancouver, BC. As part of a standard quality assurance/quality control program, duplicate XRF analyses are performed on all samples, and 5% of all samples are collected as field duplicates. All samples returning anomalous aluminum values by portable XRF will be confirmed by whole rock XRF at ALS Minerals.

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; the Lezai Multi-Element Prospect located approximately 100 km north of Chibougamau, Quebec; and the Grande-Vallée North Aluminous Clay Prospect consisting of approximately 7,400 hectares (18,285 acres) 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 info@habaneroresources.com requesting to be added.

To view maps of these projects please go to 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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