Laurentian Goldfields Ltd.
TSX VENTURE : LGF

Laurentian Goldfields Ltd.

May 26, 2011 09:15 ET

Laurentian Goldfields Ltd. Intersects 1.55 g/t Gold Over 68.8 Metres at Thundercloud Property, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 26, 2011) -Laurentian Goldfields Ltd. (TSX VENTURE:LGF) ("Laurentian" or the "Company") is pleased to announce assay results for the first six holes of its initial phase of diamond drilling at the Thundercloud property, located 50 kilometres southeast of Dryden, Ontario.

The 4,000 metre Phase I drill program at the Thundercloud property is designed to test and expand broad zones of known gold mineralization in the Pelham zone, located in the northern part of the property. The first round of drilling is targeting an interpreted east-west trending, north-dipping mineralized zone with fifteen evenly spaced holes over a strike length of 500 metres. The holes are drilled from north to south at inclinations of approximately -45º.

Results

The assay results for Laurentian's first six drill holes are summarized in Table 1 below. All intervals are core length intervals and not true widths. A drill hole plan, collar information and complete table of results will be posted at www.laurentiangoldfields.com.

TABLE 1. THUNDERCLOUD DRILL HOLE SUMMARY
HoleFromToInterval
(m)
Au
(g/t)
TC11-00175.25144.0568.801.55
Including100.95118.5017.553.69
TC11-002153.00167.5114.510.75
TC11-00368.00107.0039.001.45
Including91.00104.0013.002.49
TC11-004171.00210.0539.051.68
TC11-005No significant results
TC11-006188.00269.0081.001.31
Including196.88220.0023.123.31
And313.58333.0019.420.58

"We are very pleased by these initial results at the Thundercloud property," states Darin Labrenz, P.Geo., President and CEO of Laurentian. "The results support the general north-dipping trend of the mineralization, basic stratigraphy and alteration facies as defined by previous work by Teck Resources Limited ("Teck"). The width and grade of mineralization intersected in these first few holes confirms our belief that the Thundercloud property has the potential to host a bulk tonnage gold deposit. The remainder of Phase I drilling will focus on testing the extent of the mineralization, stepping out along strike and to depth."

Follow-up

Immediately following Phase I drilling, a detailed structural mapping program will be conducted on the Pelham area, followed by a comprehensive, property-wide surface program of mapping, prospecting, and rock, soil, and lake sediment geochemical sampling. The program objectives are to further define mineralization controls on the Pelham target area and evaluate the remainder of the property for similar mineralization potential.

A Phase II drill program will commence in the fall and will include additional strike, dip extension and infill drilling on the Pelham zone and reconnaissance drilling on priority targets defined by the summer program.

Property Background

The Thundercloud property is located 50 kilometres southeast of Dryden, Ontario, and is road accessible from the Trans-Canada highway. Historic exploration activities at the Thundercloud property extend over 80 years; the most significant of which were conducted by Noranda and Esso in the early 1980s, and more recently by Teck.

Laurentian has the right to earn 100% of Teck's interest in the Thundercloud property, subject to a back-in right and underlying royalty purchase right reserved to Teck, through an option agreement (see press release January 13th, 2011).

Quality Assurance / Quality Control

ALS Chemex, an ISO 9001:2000 accredited laboratory in Thunder Bay, Ontario, performed all sample preparation and assaying for the Thundercloud Project. Gold analysis was completed on 30 gram samples using a fire assay fusion, followed by an atomic absorption spectroscopy or gravimetric finish analytical package (AA-23 +/- Grav 21). Additional multi-element analysis was completed using a 4-acid digest package (ME-MS61). 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 Thundercloud 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. 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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