VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 24, 2011) - Parlane Resource Corp. (the "Company") (TSX VENTURE:PPP) is pleased to announce commencement of a Phase I surface exploration program at the 360 hectare Mercedes epithermal gold-silver project in the Sierra Madre gold-silver belt, in Sonora, Mexico.
The current program will evaluate the potential of the main mineralized zone, "La Lamosa" ridge, and evaluate, through mapping and soil and rock sampling, additional showings on the property prior to a 2,000 m diamond drilling program scheduled to commence in late summer, 2011.
Three holes drilled in 2008 on the "La Lamosa" ridge intersected gold mineralization starting from surface and returned:
| Drill Hole | From [m] | To [m] | Total [m]* | Au [g/t] | Ag [g/t] |
| 08MER001 | 0.00 | 144.00 | 144.00 | 0.49 | 12.40 |
| 08MER002 | 0.00 | 113.00 | 113.00 | 0.37 | 11.60 |
| 08MER003 | 0.00 | 57.00 | 57.00 | 1.15 | 13.50 |
| including | 34.00 | 35.00 | 1.00 | 16.02 | 53.6 |
| including | 35.00 | 36.00 | 1.00 | 7.67 | 42.8 |
| * The true width of the gold mineralization zone is not known at this time, but will be confirmed by the 2011 diamond drill program. |
The Mercedes property is located approximately 200 kilometers southeast of Hermosillo, in the state of Sonora, Mexico, and consists of three contiguous claims totaling 360 hectares: La Mina del Oro, 16 hectares; Ampliacion Mina del Oro, 251 hectares; and C.R., 93 hectares.
Parlane also initiated conversations with other property owners adjacent to the Mercedes project with the intention of expanding the current size of the Mercedes property.
The project is located in a historic mining district, which has had many operating mines in the past. The Mercedes property covers 360 hectares and is located in the southern quadrant of the state of Sonora, southeast of the city of Hermosillo, and 16.5 kilometers of the city of Yecora. Exploration activities in the area have been ongoing, and a number of properties have current operations, including Alamos Gold's Mulatos project, Dia Bras Exploration's Moris project, and Gammon Gold's Ocampo project.
Brian Malahoff, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this release.
ON BEHALF OF THE BOARD
Robert Eadie, President, Chief Executive Officer and Director
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.
Contact Information:
Robert Eadie
President, Chief Executive Officer and Director
1-604-602-4935
1-604-602-4936 (FAX)
info@parlaneresource.com
www.parlaneresource.com