Pengram Corporation

December 03, 2010 12:28 ET

Pengram Corp. (PNGM:OTC) Provides Shareholder Update

Nevada Gold Properties Feature Prominently in Future Plans

BELLINGHAM, WASHINGTON--(Marketwire - Dec. 3, 2010) - Pengram Corp. (OTCQB:PNGM), an emerging mineral exploration company strategically focused on gold is pleased to update shareholders on the Company's gold claims.

Golden Snow Project
The Golden Snow Project consists of 114 unpatented mining claims covering approximately 3.5 square miles 8 miles southwest of Eureka, Nevada. The Golden Snow Project is contiguous to the southern end of Staccato Gold's Lookout Mountain property, which has identified several mineralized areas. Substantial exploration work has been conducted on the Golden Snow Project. The data contains clusters of anomalous gold showings. Management is currently evaluating the data and will update shareholders on the scope of the work planned in the near future.

Fish Project
The Fish Project consists of 58 unpatented mining claims covering approximately 2 square miles 12 miles west of the historic mining town of Tonopah, Nevada. Previous exploration work on the Fish Project consisted of mapping and collecting rock samples. The results of the rock samples ranged in values from <0.002 opt to 0.307 oz/ton gold, <0.01 opt to 32 oz/ton silver, 0.01% to 32.8% zinc and <0.01% to 16.4% lead.

CPG Project
The CPG Project consists of 44 unpatented mining claims covering approximately 1.3 square miles within Mineral County, Nevada. The property hosts an early stage porphyry and skarn type copper-gold-molybdenum prospect where rock samples returned values ranging from <0.001 opt to 0.036 oz/ton gold, <0.003 opt to 0.75 oz/ton silver, <0.005% to 13.65% copper and <0.005% to 0.012% molybdenum.

In addition to the above mentioned properties Pengram has optioned out to a Canadian Company the following two international properties. The Monado Gold Property in Sulawesi Indonesia and the Clisbako Property in the Cariboo Region of British Columbia, Canada.

Manado Gold Property
Under an agreement dated August 24, 2010, Pengram has granted an option to a Canadian Company to earn up to 63.35% interest in the property, comprised of four mineral concessions totaling 300 hectares (approximately 741 acres). The Manado Gold Property is three kilometers east of the Mesel, a past producing gold deposit from 1996 to 2002. The previous owners of the Manado Gold Property conducted a substantial exploration drilling program on the property. From 1989 to 1999, the exploration drilling program consisted of 115 diamond drill holes and 19 reverse circulation holes for a total of 6,547 meters. These drilling programs identified three main target zones that contain anomalous values of gold mineralization.

Clisbako Property
Under an Option Agreement dated September 15, 2010 Pengram has granted a Canadian Company an option to acquire up to 75% in the Clisbako Property consisting of 10 contiguous mineral claims covering approximately 3,400 hectares in the Cariboo Mining Division of British Columbia. The Canadian Company will acquire its interest by making payments, issuing shares and completing work programs on the Clisbako Property.

About Pengram Corp.
Pengram Corp, (Pengram) is an advanced gold exploration company searching the globe for outstanding gold properties. Our strategy is to evaluate and acquire properties where previous work has been conducted and have yielded positive results for the presence of gold.

Forward Looking Statement:
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ.

Contact Information

  • Pengram Corp.
    Richard W. Donaldson
    President, Secretary and Treasurer