Claim Post Resources Inc.

Claim Post Resources Inc.

September 02, 2011 15:40 ET

Osisko Mining Corporation Terminates Mountjoy Exploration Agreement

TORONTO, ONTARIO--(Marketwire - Sept. 2, 2011) - Claim Post Resources Inc. (TSX VENTURE:CPS) (the Company) announced today that Osisko Mining Corporation (Osisko) terminated the exploration agreement on Claim Post Resources wholly owned Mountjoy Property near Timmins Ontario. The original agreement on 110 claim units was signed August 10, 2009.

In 2010, Osisko completed both a 3200 sample MMI™ (Mobil Metal Ion) geochem sampling program and in 2011 a Magnetic and Radiometric airborne survey over portions of Mountjoy and Godfrey Townships. Management has been advised that Osisko's target was a large gold porphyry system which they could not identify from the airborne data thus Osisko determined that it was in their best interest to terminate the Mountjoy Township Agreement.

"Claim Post has not yet received copies of the airborne survey" stated Charles Gryba "but we are very pleased with the results of the MMI survey. Our independent geochem consultant sees 2 major trends of anomalous gold going through Mountjoy Township. Claim Post has been concentrating on looking for a major new gold trend in the Timmins Camp thus the MMI results are very encouraging."

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Claim Post Resources Inc. is a Canadian based mineral exploration company and a reporting issuer in Ontario, Alberta and British Columbia. The Company currently holds a 100% interest in the mineral rights to about 1145 staked claim units and 63 patented claims (~200 km2 or 72 square miles), wholly within the city limits of Timmins, Ontario. The Company continues to stake ground as it becomes available. There are 36,163,831 common shares of the Company issued and outstanding.

Statements in this release that are forward-looking reflect the Company's current views and expectations with respect to its performance, business, and future events. Such statements are subject to various risks and assumptions, some, but not necessarily all, are disclosed elsewhere in the Company's periodic filings with Canadian securities regulators. Such statements and information contained herein represent management's best judgment as of the date hereof based on the information currently available; however actual results and events may vary significantly. The Company does not assume the obligation to update any forward-looking statement.

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.

Contact Information

  • Claim Post Resources
    Charles Gryba
    President and CEO
    416 203 1681

    First Canadian Capital
    Daniel Boase
    Managing Partner
    416 742 5600