Northaven Resources Corp.
TSX VENTURE : NTV

Northaven Resources Corp.

February 07, 2012 14:01 ET

Northaven Resources Corp.: Geophysical Interpretation Generates Large SEDEX Gold/Silver Targets at Allco

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 7, 2012) - NORTHAVEN RESOURCES CORP. (TSX VENTURE:NTV) is pleased to announce that it has now received, the final interpretation report for its ZTEM geophysical survey on its Allco property, located approximately 27 km northeast of Revelstoke, BC, from Condor Consulting of Lakewood, Colorado. Based on this report, Northaven has selected four large target areas at Allco which are highly prospective for the discovery of large scale SEDEX type gold silver mineralization.

The ZTEM EM and magnetic airborne geophysical system, developed and operated by Geotech Ltd. of Aurora, Ontario, was selected for its ability to clearly define lineaments and other structural features to greater depths (over 1,500 meters) than other commercially available EM prospecting systems, while minimizing effects from large topographical relief. The survey was conducted between August 14 - 21, 2011 and comprised 1,354 line kilometers of data covering over 13,221 hectares of mineral claims comprising the Allco Project and adjoining areas, including Huakan International Mining Inc.'s neighboring J&L deposit. The J&L property is reported to contain resources of over 1.27m oz Au and 14.9m oz Ag measured, indicated and inferred resources (P&E Mining Consultants, June, 2011, NI 43-101 Technical Report and Resources Estimate) hosted in SEDEX style mineralization similar in character to mineralization found on the Allco property.

Using the J&L deposit as a reference, Condor was able to use Geotech's data to develop a clear geophysical signature showing a very close co-relationship between the magnetic and EM data and the outline of mineralization as reported at the J&L project. Using that signature, Condor then identified four target areas with a similar footprint at a shallow depth (~100 m depth) within the Allco project area. Each of these areas is approximately 20 km2 in area and contains upwards of 3,000 linear meters of magnetic and conductive co-incidence similar to that demonstrated over the Main Zone of the J&L deposit.

"We were able to establish a very close co-relationship between the magnetic and electromagnetic information and the outline of mineralization as reported at the J&L project, as a signature footprint," said Ken Witherly, Principal Geophysicist and President of Condor. "Allco contains some very large structures which, based on the J&L foot print, appear to replicate and extend what we see at the known deposit."

Condor has recommended follow-up work using ground IP and surface geological mapping and prospecting for three of the target areas and follow up geological mapping for the fourth. Northaven plans to follow up on the recommendations as soon as weather and ground conditions permit.

"We are very excited by these results," said Malcolm Fraser, President and senior geologist of Northaven. "What we see from geophysics seems to be confirmed by known mineralization, particularly when compared to results from the known J&L deposit. The selected target areas on Allco appear to be a very favourable structural environment for hosting large scale SEDEX or Irish Exhalative type gold/silver mineralization, any one of which could host a sizable deposit."

Northaven plans to offer a WEBINAR with Mr. Witherly to review results of the Allco geophysical program. The WEBINAR will give shareholders the opportunity to view and participate in a live briefing conference with an acknowledged expert on geophysical interpretation and to ask questions of Mr. Witherly and Northaven management in a real time environment. Particulars of the time and date of the conference and how to participate will be announced shortly, once finalized.

On behalf of the Board of Directors of NORTHAVEN RESOURCES CORP.

Allen D. Leschert, CEO

This news release has been reviewed with respect to geophysical information by Ken Witherly,P. Geoph., an independent Qualified Person under National Instrument 43-101. All other technical data herein is based on information contained in technical reports or summaries prepared by independent third parties which has not been independently verified by the Company, and which remains subject to confirmation by subsequent exploration. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control, that may cause actual results or performance to differ materially from those currently anticipated in such statements.

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