Laurentian Goldfields Ltd.
TSX VENTURE : LGF

Laurentian Goldfields Ltd.

September 29, 2011 09:00 ET

Laurentian Goldfields Completes Phase I Drill Program at Van Horne Property, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2011) - Laurentian Goldfields Ltd. (TSX VENTURE:LGF) ("Laurentian" or the "Company") is pleased to announce final assay results from the Phase I diamond drill program at the Van Horne property, located 8 kilometres (km) southwest of Dryden, Ontario.

The 2,500 metre (m) drill program targeted the Flambeau zone, the westernmost of a series of gold targets along a 5 km gold trend at the Van Horne property. Phase I drilling at the Flambeau zone returned near-surface mineralization with drill hole VH11-006 intersecting 33 m averaging 0.73 g/t gold, and a second 11.62 m interval averaging 1.34 g/t gold. Approximately 300 m to the west, drill hole VH11-002 intersected 15.27 m averaging 0.71 g/t gold, and a second 16.57 m interval averaging 1.06 g/t gold.

"We are very encouraged by this first phase of drilling targeting bulk tonnage gold at the Van Horne property," states Darin Labrenz, P.Geo., President and CEO of Laurentian. "Drill results support the presence of a large, near surface, intrusive centered, robust hydrothermal system at Flambeau, with mineralized quartz-ankerite stockwork development along a 600 m strike length. Flambeau drill results provide an excellent basis for continued exploration and drilling at the Van Horne Property."

The Flambeau Zone is a gold-bearing quartz-ankerite-tourmaline stockwork, comprised of a combination of shear and extension vein arrays, which has now been intersected by a series of broadly spaced holes along a strike length of approximately 600 m. A total of 10 holes were completed targeting known surface mineralization as well as geochemical anomalies along strike to the east. Holes were drilled from north to south at inclinations of approximately -45º.

Results

A complete list of assay results for Laurentian's Phase I program are summarized in Table 1 below. All intervals are core length intervals, and not necessarily true width. A drill hole plan and representative sections can be viewed on the Company's website at www.laurentiangoldfields.com.

TABLE 1. 2011 VAN HORNE DRILL HOLE RESULTS
Hole From To Interval (m) Au (g/t)
VH11-001 21.94 41.00 19.06 0.49
And 69.40 71.24 1.84 1.37
And 110.58 112.54 1.96 1.61
including 110.58 110.86 0.29 8.99
And 147.72 149.00 1.28 0.95
VH11-002 60.00 61.00 1.00 1.38
And 107.00 108.22 1.22 1.65
And 174.58 189.85 15.27 0.71
And 232.43 249.00 16.57 1.06
Including 233.10 233.84 0.74 6.95
Including 235.22 235.41 0.19 30.40
Including 246.77 247.10 0.33 13.00
VH11-003 3.00 4.00 1.00 1.12
And 143.00 144.00 1.00 1.16
VH11-004 87.00 88.00 1.00 7.37
And 134.00 139.74 5.74 0.59
And 188.00 201.72 13.72 0.60
including 192.43 193.00 0.57 7.74
And 191.00 193.00 2.00 2.82
VH11-005 266.00 271.75 5.75 0.32
And 288.65 289.65 1.00 3.77
And 306.38 334.46 28.08 0.41
And 317.00 319.00 2.00 1.07
VH11-006 12.43 45.50 33.07 0.73
Including 36.70 45.50 8.80 1.71
And 62.93 74.55 11.62 1.34
And 95.70 98.83 3.13 0.70
And 158.90 168.00 9.10 0.38
And 178.00 183.00 5.00 0.40
VH11-007 18.15 24.65 6.50 1.63
Including 20.00 20.70 0.70 6.17
And 89.26 101.00 11.74 1.17
Including 97.94 101.00 3.06 2.66
And 107.93 110.00 2.07 0.94
VH11-008 11.78 16.00 4.22 0.33
And 57.73 59.22 1.49 1.47
And 92.57 93.59 1.02 3.85
And 135.27 141.00 5.73 0.40
VH11-009 3.00 4.00 1.00 1.63
VH11-010 143.50 145.00 1.50 6.20
And 270.00 276.17 6.17 0.69
And 333.00 334.50 1.50 1.70

Follow-up

Geological modeling of Flambeau drill results is underway. Modeling will incorporate soil and rock geochemical data, alteration minerals, hyperspectral image data and magnetic geophysical data previously acquired by Laurentian. Results will be used to target additional drilling at Van Horne in early 2012.

Property Background

The Van Horne property is located 8 km southwest of Dryden, Ontario, and is road accessible from Provincial Highway 502, which passes through the west end of the property and connects approximately 8 km to the north with TransCanada Highway 17. Laurentian has the option to earn a 100% interest in the property.

Two past producing mines, namely the Bonanza Mine and Redeemer Mine, are located on the property. In 2009, Laurentian's geological crew completed a program of property-wide trench mapping and sampling, infill geochemical surveys (rock, soil, lake sediment, spectral and petrographic), and an airborne magnetic survey. Laurentian defined 3 distinct, drill-ready zones: Bonanza-Drake, Flambeau and Gator. Channel samples at Bonanza-Drake returned high-grade assays of 36.1 grams per tonne (g/t) gold over 0.5 metres (m), 19.8 g/t gold over 0.5 m, and 6.9 g/t gold over 0.5 m and grab samples up to 29.7 g/t gold. Select channel and grab samples at the Flambeau assayed up to 24.8 g/t gold over 0.24 m and 5.47 g/t gold respectively (see news release dated January 26, 2010).

Quality Assurance / Quality Control

Activation Laboratories Ltd., an ISO 9001:2000 accredited laboratory with sample preparation in Dryden and assay facilities in Thunder Bay, Ontario, performed all assaying for the Van Horne Project. Gold analysis was completed using metallic screen on a 1,000 gram sample, with fire assay fusion performed on the entire +100 mesh split, and two splits of the -100 fraction, followed by gravimetric finish (1A4-1000). A final assay is calculated based on the weight of each separated fraction, and the determined assay values. Additional multi-element analysis was completed using a 4-acid digest package (TD-MS). In addition to an internal laboratory quality control program, Laurentian maintains a quality assurance and quality control program through the systematic use of standards, blanks and duplicates.

The Van Horne drilling program and associated sampling and quality control protocols were directed and supervised by Mr. Lengyel, P.Geo., Vice President Exploration for Laurentian Goldfields Ltd., a Qualified Person pursuant to National Instrument 43-101. The technical contents of this release were reviewed and approved by Mr. Lengyel.

About Laurentian Goldfields Ltd.

Laurentian is a team of highly skilled exploration professionals focused on discovery and growth in under-explored regions of mining-friendly jurisdictions. Laurentian generates new projects by employing leading edge exploration concepts and techniques. The Company advances these projects through use of its internal technical team, extensive network of exploration industry specialists, and engaging the financial support of major mining companies by way of exploration alliances and joint venture agreements. Laurentian is committed to developing shareholder wealth through identifying, acquiring and advancing high quality exploration properties in Canada.

ON BEHALF OF THE BOARD OF DIRECTORS,

Darin Labrenz, P.Geo., President and CEO

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to mineral potential and planned exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, realized mineralization of properties and the timing and success of future exploration, development and production activities.

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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