Manto Resources Ltd.

February 15, 2013 09:00 ET

Manto Resources Ltd. Settles Litigation Over Fran Gold Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 15, 2013) - Manto Resources Ltd. ("Manto" or the "Company") is pleased to announce the settlement of litigation regarding the Fran Gold Property. As a result of settlement with Yankee Hat Minerals, Union Securities, Richard S. Haslinger, and Richard J. Haslinger, Manto retains a 100% ownership of the Fran mineral tenures.

The most recent exploration information from the 2011 Drill Program is summarized below from assays for eight holes confirming the extensions of the known gold zones at depth and over 600 meters of strike-length.

The 2011 Winter drill program at the Fran Property consisted of the first new holes drilled on the project since 2007, and the assay results confirm the continuity of gold mineralization below historical drilling. Highlights of the drill results include 9.93 g/t Au over 0.70 m and 8.7 g/t Au over 0.71m in hole FR-10-084, 11.95 g/t Au over 1.05m in hole FR-10-086, and 4.43 g/t Au over 1.00m in hole FR-10-087.

"The most recent exploration results from 2011 are encouraging since they demonstrate the continuity of the gold mineralization over a strike - length of more than 700 meters and a depth of at least 220 meters. Our next step is to produce a NI 43-101 compliant resource estimate and generate recommendations regarding bulk sampling and underground development," stated Mr. Jared Lazerson, CEO of Manto. The gold zones drilled so far represent only a small portion of the large Fran property. Additional indications of gold mineralization further to the east on the property will be investigated during the summer field season (or program).

The table shows the most material assay results from the 2011 drill program:

Drill Hole Section From To Length Au Other
(m) (m) (m) (m) (g/t)
FR-10-080 1675 313.33 314.00 0.67 4.70 45.7 g/t Ag
FR-10-081 1525 87.87 90.30 2.43 6.47
FR-10-082 1425 149.50 150.20 0.70 9.93
FR-10-084 1900 126.19 126.90 0.71 8.70 1.14% Zn
FR-10-084 1900 188.35 189.30 0.95 4.87 0.74% Zn
FR-10-084 1900 215.70 216.40 0.70 5.72 26.6 g/t Ag
FR-10-086 1325 46.65 47.70 1.05 11.95
FR-10-087 1475 125.70 126.70 1.00 4.43
Note: True width represents approximately 75 percent of reported length.

The drill program tested the extensions of five of the mineralized gold zones identified so far on the property. The gold mineralization is hosted into a series of sub-vertical, northwest trending, structures containing quartz veining and significant pyrite. Assay results from previous drill programs testing the structures include high grade values such as 27.1 g/t Au over 1.3 (FR-07-071), 32.49 g/t Au over 2.1 m (FR-07-074), 17.03 g/t Au over 2.4 m including 25.2 g/t Au over 1.36 m (FR-05-048), 9.43 g/t Au over 8.24 m including 87.97 g/t Au over 0.52 m and 13.86 g/t Au over 0.9 m (FR-06-055).

Mr. Andris Kikauka (P.Geo.) is a qualified person as defined by NI-43-101 and has reviewed the technical information that this news release contains. Mr. Kikauka has begun work on compilation of the data and will oversee a NI 43-101 compliant resource estimate of the property in association with Giroux and Associates of Vancouver, BC.

Gold analyses reported in this release were performed by standard fire assay using a 30g charge with atomic absorption finish and a gravimetric finish for assays greater than 1 g/t. Assays returning results over 1 oz/t gold by atomic absorption are re-assayed using metallic sieve method. All assays were performed by ALS Canada Laboratory, in North Vancouver, British Columbia. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QA-QC program, includes duplicate samples, blanks and analytical standards.

About the Fran Property.

The Fran property is located in central British Columbia approximately 60 kilometres north of the city of Fort St. James. The region is well known for its abundance of large scale deposits and mines, most notably the Mount Milligan deposit which is located 30 kilometres northeast of the property. The original Fran property consisted of eight mineral claims covering approximately 4,000 hectares. Staking to the east, south and west has expanded the property to 10,200 hectares in area.

About Manto Resources Ltd.

Manto Resources Ltd. is a privately held resource exploration company. The company is exclusively focused on the development of the Fran Gold Property.

Contact Information

  • Manto Resources Ltd.
    Jared Lazerson
    778 846 6744

    Manto Resources Ltd.
    Lyndon Patrick
    General Counsel
    604 974 0028

    Manto Resources Ltd.
    303 - 1080 Howe St.
    Vancouver, BC V6Z 2T1