Pro Minerals Inc.

Pro Minerals Inc.

September 15, 2011 11:00 ET

Pro Minerals Inc.: Gold Claims Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 15, 2011) - Pro Minerals Inc. (TSX VENTURE:PRM) is pleased to announce that the Company has entered into a purchase agreement to acquire 3 patented mineral claims known as the "Endeavour-Craig" located in the Cairo Township, south-west of Kirkland Lake, Ontario.

The Endeavour-Craig claims are situated in the centre of Pro's 100% owned Cairo Gold Project. Historically, these patented claims were noted to host a long gold carrying vein that ran along the length of the claims north to south; consisting principally of quartz and brecciated syenite with a width of up to 150 feet. In the early 1900's, a shaft was sunk to a depth of 60 feet with short drifts cutting into the vein. Fine visible gold was reported in the shaft and drifts (Burrows 1918).

These strategic Endeavour-Craig claims have been held privately since the early 1900's. It appears the claims have remained relatively undeveloped and underexplored for close to 100 years. Pro has worked diligently with the vendors over the past year to have the multiple claim titles of the various heirs of the estate holdings consolidated into a single holding from which Pro could then consummate the purchase. Pursuant to the terms of the agreement, Pro will acquire the claims by way of twenty thousand dollars in cash payments and the issuance of two-hundred thousand shares to the vendors. There is a NSR in favour of the vendors, of which Pro may purchase one-half for $1 million and has a first right of refusal on the remainder. The agreement is subject to acceptance by the TSX Venture Exchange.

Pro Minerals considers the Endeavour-Craig claim group to be highly prospective. The company anticipates initiating a field program in 2011 to evaluate the extent of untested gold mineralization. This field program will consist of ground sampling, deep trenching and geophysics.

By way of this acquisition Pro has consolidated all three of the targeted areas associated with the Cairo project. It now owns the poly-metallic features to the south, the historical veining and mine shaft targets in the central section and the yet to be explored faulting structures situated to the north.

In previous exploration, Pro Minerals had successfully completed a program in 2009 on the southern section its Cairo Project which consisted of blasting and sampling on the claims south of the Endeavour-Craig claims. At that time Pro discovered very encouraging Polymetallic mineralization; assays from which were release in Pro's news release dated March 12, 2009. This earlier exploration by Pro in the southern zone of the project, known as the "Galaxy" zone, identified high-grade silver, copper and lead mineralization in the majority of the blasted trenches. Samples assaying up to 11.35% copper, 26.25 oz/ton silver and 24.45% lead was encountered at the intersection of a quartz vein, one-half metre in width, which contained approximately 20% galena and 20% chalcopyrite. Nearby, a smaller quartz vein of approximately 40% galena was identified.

As outlined in Pro's March 12, 2009 news release, assay results from the above locations yielded the following:

Sample Number Au (g/t) Ag (g/t) / (oz/t) Cu (%) Pb (%)
78170 0.25 g 785.00 g / 22.90 oz 11.35 % 22.50 %
78171 0.40 g 6.20 g / 0.18 oz 0.65 % 0.24 %
78172 0.04 g 9.00 g / 0.26 oz 0.07 % 0.21 %
78173 0.17 g 900.00 g / 26.25 oz 10.70 % 24.45 %
78174 0.40 g 746.00 g / 21.76 oz 0.57 % 21.25 %

Copper, silver and lead mineralization was also encountered in quartz veins at two blast trenches 15 and 54 feet (4.5 & 16.7 meters) north of the above-location. Grab sample assays from these locations yielded the following results:

Sample Number Au (g/t) Ag (g/t) / (oz/t) Cu (%) Pb (%)
78175 0.07 g 38.50 g / 1.12 oz 0.12 % 0.99 %
78176 0.08 g 51.20 g / 1.49 oz 1.67 % 1.47 %
78177 0.19 g 53.60 g / 1.56 oz 0.08 % 1.62 %

The Cairo gold project now covers of an area of approximately 1,600 hectares of highly prospective, yet largely untested ground on the western end of the 100 Million ounce gold producing Cadillac-Larder Lake Break. The Company's Cairo claims are located approximately 46 kilometres west of Kirkland Lake, home to 40 Million ounces of past gold production; and some 5 kilometres north-east of Northgate Minerals' new Young Davidson Mine which contains 2.8 million ounces of gold. The Young Davidson Gold Mine is slated to begin production in the first quarter of 2012. Significant exploration activity in the area by companies like West Kirkland Mining Inc occurred recently in close proximity to Pro Minerals Cairo Gold Project. A recent intercept yielded 19.79 g/t gold over 7.9 meters, within a broader mineralized intersection of 7.61 g/t gold over 23 meters. Both intercepts occur within 100 meters of the surface and are within 5 km of the Cairo Gold Project. The Cairo Gold Project is easily accessible and close to infrastructure four kilometres from the town of Matachewan.

Additional information is contained on the Company's website at


Patrick D. O'Brien, ICD.D, Director

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.

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