Inventus Mining Corp.

Inventus Mining Corp.

June 01, 2015 10:41 ET

Inventus Mining Provides Drill Results from the Pardo JV and Corporate Updates

SUDBURY, ONTARIO--(Marketwired - June 1, 2015) - Inventus Mining Corp. (TSX VENTURE:IVS) ("Inventus" or the "Company") is providing drilling results for the 007 Zone target area on the Pardo Joint Venture ("Pardo JV") property, located approximately 65 km northeast of Sudbury, Ontario.

Assays for the five (5) drill holes in the 007 Target Area have now been received. Mineralization considered significant approximates true width of the intersection and is summarized in the following table:

007 Zone

Hole From To Thickness Gold (g/t)
PD-15-21 0.7 1.65 0.95 0.3
PD-15-22 No Significant Mineralization
PD-15-23 0 1.5 1.5 0.2
4.9 6.5 1.6 0.4
8.5 9.7 1.2 0.5
26.05 26.77 0.72 0.4
32.6 33.3 0.7 0.8
PD-15-24 6.6 8.45 1.85 0.8
Including 7.1 7.9 0.8 1.5
PD-15-25 2.2 3.1 0.9 0.3
4.75 6.2 1.45 0.2

Holes 15-21 through 15-25 were drilled at approximately 50 to 70 metre step-outs from the 007 Zone high-grade channel samples reported in August 2013 to test both the extent and thickness of the host conglomerate for the high-grade surface mineralization exposed at the 007 Zone (see 2015 007 Zone Drilling Map for locations). The drilling has confirmed that the basal boulder conglomerate "MiBC" is continuous surrounding the 007 Zone and remains open for expansion towards the north, east and west (see 007 Section). Due to the easterly dip of a north-south fault the MiBC was not encountered in holes 15-25 and only partially encountered in 15-23 due to faulting. The MiBC is also interpreted to continue to the southeast but this area between the 007 and Godzilla zone is complicated and semi-continuous as a result of the effects of a post mineral diabase dike in the area.

The elevated gold values obtained from this drilling correspond with the detrital pyrite-rich conglomerate facies observed in the 2015 drill core. The facies observed can also be correlated with the facies in holes 14-01 and 14-03 drilled on the 007 Zone which returned gold values of 3.6 g/t over 1.03 metres and 4 g/t over 1.21 metres respectively. This correlation implies the channel that deposited the high-grade surface mineralization at the 007 Zone extends under cover towards the north, east and west.

The majority of mineralization on surface and drill core in the MiBC at the 007 Zone consists of detrital pyrite and free gold "clustered" in fluvial traps that are interstitial to the boulders in the conglomerate. With the diameter of the drill core used, the grade of the vertical drill intersections through the MiBC in the 007 Zone drill holes may not be indicative of the representative grade of the MiBC Reef in this area.

The assay results for eight (8) selected better grade samples from these drill holes were assayed at a second independent assay lab and results from the second lab showed consistently higher gold values by an average of 29 percent. The values included in the table above are an average of the grade reported by both labs.

The location map and section for the 007 drilling reported can be viewed in the news release on the Company's website at

The higher grade mineralized conglomerate at the 007 Zone and the Godzilla zone, both in surface channels and drill holes, have now been confirmed as the same MiBC facies.

Inventus is the operator of the Pardo JV and holds a 64.5% ownership interest and Endurance Gold Corporation ("Endurance") owns a 35.5% ownership interest. Both Inventus and Endurance are funding the 2015 Pardo JV program on a pro rata basis, based on ownership. As a result, it is anticipated that Inventus's ownership interest in the Pardo JV will be unchanged at the completion of the current program.

Update on recent corporate activities

Inventus is pleased with the results of the Company's annual and special meeting of shareholders held on May 21, 2015. Mr. Mark Hall was elected as a new member of the Inventus board of directors. Also Wayne Whymark, Douglas Hunter and Robert Scott Heatherington were re-elected as directors. Shareholders approved the Company's existing stock option plan and a resolution approving the creation of Evanachan Limited as a new control Person of the Company.

The Company also advises that it has granted options to acquire a total of 1,605,000 common shares of the Company to employees, consultants, officers and directors at the exercise price of $0.10 per share for a period of five years.

Comment from the Chairman and CEO

Commenting on recent changes affecting the company Chairman and CEO Wayne Whymark said, "In response to recent enquiries from shareholders regarding changes to the company I wish to provide some clarification. Shareholders approved a name change for the company at the 2014 annual general meeting. Inventus was chosen as the company's new name: it is Latin, meaning to find or to discover, which we think perfectly describes the company's principal business, which is mineral exploration.

Changes in management and the board of directors have taken place due to both career relocations and decisions made in order to better adapt the company to current market conditions. Now with a smaller, streamlined executive team and a very engaged board of directors the company can respond decisively to the challenges of the future.

We have greatly reduced executive costs to the company and pro-actively initiated other cost saving strategies such as the moving of the corporate office from Sudbury to Toronto. Eliminating non-productive spending however is only the beginning of the change the company has undertaken. Aggressive pursuit of shareholder value derived from the extraordinary asset represented by the Pardo project will be key to our success. The discovery of the first Paleo-Placer Gold deposit in Canada is a serious accomplishment. This accomplishment would not have been possible without the support of our shareholders and therein lies the company's true strength. The changes we have implemented are overdue and I accept responsibility for that, but some things are not easily done, and I do hope that shareholders will continue to support the extraordinary company that Inventus is, because with the successful completion of our recent AGM the changes are complete, and we can look forward to the benefits and rewards they will produce."

About Inventus

Inventus Mining Corp. is a mineral exploration company focused on the advancement of its Pardo paleo-placer gold property, located in Pardo Township in northern Ontario. To learn more about Inventus Mining Corp., please visit:

Quality Control and Quality Assurance

The Qualified Person responsible for the geological technical content of this news release is Andy Bite, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.

The samples of this release were transported in security sealed bags for preparation and assay at Act Labs located in Sudbury, Ontario. Act Laboratories Ltd. is an ISO 17025 registered laboratory. Additional sample checks were made at Agat Laboratories Ltd. The samples reported were crushed in their entirety, with a 1kg split then pulverized. Two 50 g aliquots of the pulp were cut out and fire assayed. Results were reported as a weighted average of gold in the fractions. In instances where the averages exceed 3 g/t, the sample is re-run with a gravimetric finish and the gravimetric result is reported. The Company inserts a certified reference standard or an analytical blank in every batch of 20 samples. Validation parameters are established in the database to ensure quality control.

Forward-looking information

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" in the Corporation's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Corporation does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither 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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