SOURCE: Joshua Gold

July 12, 2013 10:30 ET

Joshua Gold Resources Inc. Acquisition, Exploration & Corporate Update

TORONTO--(Marketwired - Jul 12, 2013) - JOSHUA GOLD RESOURCES INC. (OTCQB: JSHG)

Cree Lake
The Company has acquired the Cree Lake Project, a 9,647 acre (~3,904 hectare) group of 18 mineral claims, within Swayze Township. According to Mantis Minerals Corp 43-101 Technical Report, "recent drilling intersected a volcanic hosted, quartz stockwork system carrying significant gold values along substantial drill hole widths, which include a 15.5 meter interval averaging 2.05 g/t Au from hole CL096. The zone comes to surface and represents excellent open pit potential for a bulk gold tonnage deposit. Follow up trenching west of hole CL096 exposed a 50 meter length of intermittent quartz veining and shearing over a 10 meter width. Grab samples within this zone yielded significant gold values ranging from 0.61g/t to 43.2 g/t, with an average of 6.47 g/t. (Hawke, 2012)". 

The Cree Lake Claims are host to the prolific Flint Rock showing, which has demonstrated gold values in drill results as high as 20.07 oz/t (Ontario Geological Survey, 1994). Details of the acquisition are available in the Company's Securities and Exchange Commission Form 8-K Filing Dated June 25, 2013. Cree Lake - Form 8-K

The Cree Lake Property adds to the strategic land base in Swayze Township and completes the Company's land acquisitions surrounding the former producing Kenty Gold Mine. The Company now controls over 63,137 contiguous Acres (~25,551 Hectares or ~98.65 sq. miles) of Property, central to Iamgold's Cote Lake Deposit at 8,700,000 ounces Au (indicated and inferred) to the East and Probe Mines' Borden Lake Deposit at 4,300,000 ounces Au (indicated and inferred) to the West. The entire Property is now referred to as the Swayze Property. For an updated map please follow the link Swayze Property Map

Fred Sharpley BA Sc. P.Geo - Appointed as Independent Geologist
The Company has appointed Fred Sharpley BA Sc. P.Geo, as Independent Geologist for the project. Fred has over 50 years experience as a professional geologist since graduating from the University of Saskatchewan. He has been directly involved in exploration for gold, silver, base metals and uranium in Canada, Mexico, Central America and Africa. Fred worked for the Keevil Mining Group (now Teck Resources) for nine years in exploration and as a mine Geologist, starting the Temagami Copper Mine and has assisted several junior and senior mining companies over the years, including most recently, Detour Gold Corp. 

Exploration Update
The Company has received a NI 43-101 Technical Report, complete with recommendations for a work program on the sections of the Swayze Property of the Kenty Gold Mine, and the Mortimer Claims. The Company has released a copy of the report and its recommendations on its website. To date, significant progress in understanding of the Property has been made, with initial findings confirming the potential for a bulk gold tonnage model, as gold mineralization has been discovered in secondary veins never before considered, ranging from trace to 5.49 gpt Au, assayed as a grab sample in part of a recent surface mapping program.

Corporate Update
The Company has received an independent legal report from Ricketts Harris LLP of Toronto, Partner Allan Sternberg, which confirms the Company's valid option agreement to the historically producing Kenty Gold Mine, an ~899 acre set of patented claims within the overall Kenty Property. As previously stated, the Company believes the legal proceeding against it to be without merit. To receive a copy of the report, please contact the Company.

The Company's shares are now DTC eligible and can be settled electronically. 

On Behalf of the Board of Directors,

Benjamin A. Ward
President & CEO

Fred Sharpley, P.Geo is an independent geological engineer and is a "Qualified Person" within the meaning of National Instrument 43-101 and has read and is responsible for the technical information contained in this news release.

Cautionary Note Regarding Forward-Looking Statements

Safe Harbor:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filings.

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