International Samuel Exploration Corp.
TSX VENTURE : ISS

International Samuel Exploration Corp.

January 17, 2011 09:00 ET

International Samuel Acquires Omega and Niv Claims

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 17, 2011) - International Samuel Exploration Corp. (TSX VENTURE:ISS) (the "Company") reports that it has entered into an option agreement to acquire a 100% interest in the Omega and Niv Claims, both located in Northern British Columbia Canada.

The Omega Property is a Copper-Molybdenum prospect located in the Johanson Lake area, 60 kilometres southeast of Northgate Minerals Kemess mine.

Recorded historic work on the property has included soil geochemistry, geological mapping, geophysical surveying and three diamond drill holes. Historic assays from Hole LC82-2, situated within a 1,100 metre (3,600 feet) long copper soil anomaly associated with a sizeable chargeability anomaly, returned 0.24 % copper over 46 metres (150 feet).

The Niv Property is a Copper-Gold prospect located 50 kilometres west of Johanson Lake. The property is situated on the northern extent of the Omenica Fault system just south of the Niven River.

Historic soil geochemistry in the northern portion of the claim block has identified both anomalous copper and gold values. Historic grab samples in this area between intrusive bodies and the Omenica fault have yielded copper values in veins in excess of 8% copper. In addition a sample described in GSC Memoir 251, McConnell Creek Map Area, refers to a sample collected within the historic soil grid, containing 0.2 oz/t gold, 83.2 oz/t silver and 8.31% copper. Minimal recorded work has been conducted within this area.

The 2011 exploration program on the Niv project will consist of a property wide airborne magnetic survey, regional sampling/prospecting, geological mapping in the showing area, to be followed if warranted by ground geophysical and/or drilling programs.

The exploration program for the Omega property will consist of a property wide airborne magnetic survey, prospecting/geological mapping, an expanded soil grid, a deep induced polarization survey over the length of the copper soil anomaly, and subsequent drilling to further define known mineralization.

The Company is purchasing a 100% right, title and interest in the Omega and Niv claims, for a total of $40,000, and the issuance of 730,000 common shares (staged over a three year period).

The Vendor with retain a 2% net smelter return royalty ("NSR"). The company shall retain the right to purchase a 2% portion of the NSR from the Vendor by payment of Cdn. $1,000,000 per 1%.

ON BEHALF OF THE BOARD OF DIRECTORS

Conrad Swanson, President

Safe Harbour Statement: The Company relies upon litigation protection for "forward-looking statements."

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.

Contact Information

  • International Samuel Exploration Corp.
    Conrad Swanson
    President
    604-718-5454 or Toll Free: 888-500-4587
    (604) 646-2054 (FAX)
    www.internationalsamuel.com