Metals Creek Resources Corp.
TSX VENTURE : MEK

Metals Creek Resources Corp.

June 19, 2012 07:41 ET

Metals Creek Resources Corp. Completes Requirements to Earn a 50% Interest in the Ogden Gold Project, Timmins, Ontario

TORONTO, ONTARIO--(Marketwire - June 19, 2012) - Metals Creek Resources Corp. (the "Corporation") (TSX VENTURE:MEK) is very pleased to announce that it has sent formal notice to Goldcorp informing them that the Corporation has met the expenditure requirements to earn a 50% interest in the Ogden Gold Property located in the Timmins Gold camp. Final share issuance has also been submitted. MEK has now earned a 50% interest in the Ogden Property and Goldcorp has up to six months to inform Metals Creek of its decision regarding three options. These options include whether it will fund an on-going exploration program at 50%, reduce its interest by not contributing to an exploration program or exercise a 20% back-in by committing to make a cash payment of $310,000 to MEK, funding a total of $4.1 million in exploration expenditures and completing a feasibility study. Details of the agreement are available on MEK's website.

The Ogden Property is located along an eight km section of the Porcupine-Destor Break between Goldcorp's Dome Mine and Mill Complex and the recently developed Lakeshore Gold's West Timmins Mine. The property hosts a number of gold zones including Naybob North, Naybob South and Thomas Ogden which have been the focus of a number of drill programs over the past three years. These zones now require additional detailed drilling to provide enough information to advance them to a resource calculation stage.

While Metals Creek awaits Goldcorp's decision, the Corporation will focus on advancing a number of priority gold targets to the drill-ready stage during this summer's field programs which include work on the Jackson's Arm project in Newfoundland, the Dogpaw Lake project in Ontario and the Squid project in Yukon.

Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek can earn a 50% interest in the Ogden Gold Property, including the former Naybob Gold mine and the Thomas Ogden Zone, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine-Destor Fault (PDF) that stretches between Timmins Ontario and Val d'Or Quebec. The Corporation is also engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under the company's profile at www.sedar.com.

"Neither the 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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