Habanero Resources Inc.

Habanero Resources Inc.

March 01, 2012 03:01 ET

Habanero Samples Up to 22.99% Al2O3 on the Grand Vallee North Aluminous Clay Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2012) - Habanero Resources Inc. ("Habanero" or the "Company") (TSX VENTURE:HAO)(PINKSHEETS:HBNRF)(FRANKFURT:HRJ) wishes to report the results for the 2011 work program on the 100 percent owned Grand Vallée North Aluminous Clay Prospect.

Kristopher J. Raffle, P.Geo (BC) Senior Geologist for APEX Geoscience Ltd. of Edmonton, AB, reports, "During 2011, APEX Geoscience Ltd. ("APEX") geologists conducted a 4 day reconnaissance investigation of Habanero's Grand-Vallée North aluminous clay prospect located in Gaspe, Quebec. The Grand-Vallée North prospect comprises of 132 claims covering approximately 7,400 hectares (ha) and lies adjacent to Orbite Alumina Inc's (Orbite) 6,441 ha Grand-Valle Property.

"Recent exploration by Orbite has defined 5 zones of highly aluminous, unconsolidated fragmentary red shale and red and green mudstone ("claystones"). Analysis of 1,180 shale and mudstone drill core samples by Orbite returned an average Al2O3 ("alumina") content of 22.77% (Source: Orbite Alumina Inc., 2010 Field Work Grande-Vallée Property NI 43-101 Technical Report, March 31, 2011). Orbite has reported that through testing of its proprietary hydro-metallurgical treatment that a reasonable prospect of economic extraction exists for claystones containing over 18% alumina.

"APEX collected a total of 27 samples of clay-rich shale and mudstone from unconsolidated surface deposits and outcrop. Of the 27 samples, a total of 16 were collected within Habanero's current Grand-Vallée North claims. Samples of red shale exposed in road-cuts 500 metres to the northwest of Orbite's "Zone D" occurrence returned highly anomalous alumina values. The alumina content of the 5 samples collected within Habanero's claims adjacent to the Zone D occurrence ranged from between 22.99% and 20.49% (Table 1). A total of 4 additional samples collected from between 1 and 3 kilometres northwest of the Zone D occurrence returned alumina values in excess of 18% (9 samples in total returned greater than 18% alumina; Table 1).

Table 1: 2011 Grand-Vallée North Alumina Analysis Summary

Sample Al2O3(%)
11ERS101 22.99
11ERS113 22.64
11CBS014 21.69
11ERS102 20.72
11CBS002 20.53
11CBS001 20.49
11ERS112 19.55
11CBS013 19.32
11CBS012 18.93

"Habanero's 2011 reconnaissance has shown that unconsolidated shale and mudstone lithologies having visual similarities and comparable alumina content to those found within Orbite's Grand-Vallée Property, also occur within the Grand-Valle North prospect. The results indicate the potential of the Grand-Vallée North prospect to host aluminous clay deposits similar to those known at the Grand-Vallée Property. To date Habanero has not assessed the Rare Earth Element (REE) potential of the Grand-Vallée North prospect. The upcoming 2012 exploration program will focus on evaluating unexplored areas of the claims, delineating the known aluminous clay occurrences, and further examination of REE potential of the Grand-Vallée North prospect. At this time only 1/3 of the prospects land position has been investigated."

Work on the Grand-Vallée North Prospect was 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. During 2011, all samples were submitted to ALS Minerals, North Vancouver, British Columbia, for whole rock litho-geochemistry XRF analysis (ME-XRF06). Samples were crushed to 70% passing less than 2mm. A sample split was then pulverized to 85% passing less than 75 micrometres. A calcined or ignited sample (0.9g) is added to 9.0g of Lithium Borate Flux (50%-50% Li2B4O7-LiBO2), mixed well and fused in an auto fluxer between 1050-1100°C. A flat molten glass disc is prepared from the resulting melt. This disc was then analysed by XRF spectrometry.

Habanero has increased its land on the Grand-Vallée North Aluminous Clay prospect to approximately 7,400 contiguous hectares from 6,700 hectares. This new acreage was acquired through Gestim.

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 comprising of approximately 55,100 contiguous acres in 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.

Habanero President Jason Gigliotti will be presenting at the 2012 Prospectors and Developers Association (PDAC) in booth number 2612. Habanero will be presenting on March 4th and 5th and the show is being held at the Metro Toronto Convention Centre, South Building. Mr. Gigliotti welcomes all shareholders and prospective shareholders to meet Company management in person.

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.

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

Habanero Resources Inc.

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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