Radisson Mining Resources Inc.
TSX VENTURE : RDS

Radisson Mining Resources Inc.

November 27, 2012 08:00 ET

Radisson to Begin Drill Program

ROUYN-NORANDA, QUÉBEC--(Marketwire - Nov. 27, 2012) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) is pleased to announce the start up of a diamond drill program on its 100% owned O'Brien/Kewagama gold property.

The goal of the program is to explore the depth potential of the gold mineralization below 2000 feet (650meters) in Zone 36, and to potentially increase the present resource.

Previous exploration by the company on the project resulted in the discovery of zone 36 which has an indicated resource of 218,540 ounces (based on an indicated resource of 270,000 tons at an uncut grade of 0.56 ounce per ton and an inferred resources of 182,000 tons at an uncut grade of 0.37 ounce per ton) as defined in the Scott Wilson Roscoe Postle National Instrument 43-101 report of May 2007.

The resource is all contained above 1600 feet deep.

The potential for increasing resources at depth is significant.

Previous drilling in (hole OB 96-75) intersected 12 g/t over 2 meters at a depth of 1500 feet (450 meters).

Previous mining (O'Brien Mine 1933 to 1956) on the project reached a depth of 3450 feet and produced 590,000 ounce of gold at a grade of 0.45 ounces of gold per ton, making it the highest grade gold producer in the camp.

The O'Brien /Kewagama gold projects located in the Malartic/Cadillac portion of the Abitibi gold Belt, consists of 36 claims covering 729 hectares, straddling the prolific Cadillac Break over a strike length of approximately three kilometers.

The O'Brien/Kewagama project is located approximately five kilometers west of and on strike from Agnico-Eagle's Lapa gold mine, also centered on the Cadillac break, and approximately four kilometers southeast of Agnico-Eagle's Laronde mine, now surpassing 3,000 meters (10,000 feet) in depth.

The company has carried out a complete re-evaluation and interpretation of the past exploration results on the project and carried out successfuls drill program, resulting in a new discovery on the largely unexplored eastern portion of the project (Kewagama) (see past press releases).

Highlights included:

  • 32.3 grams per ton (g/t) gold over 7.3 metres;

  • 12.8 g/t gold over 2.25 metres;

  • 3.57 g/t gold over 6.8 metres;

  • 3.37 g/t gold over 8.6 metres.

The above results clearly demonstrate the potential of the project. Adding in the past mining history on the property, the presence of a high-grade resource (NI 43-101 report) and the location of the project in the Cadillac portion of the Abitibi gold belt, all factors prove the significance of the O'Brien/Kewagama project.

Michel David, C.E.O., states "We are very excited about the start up of our deep drill program on the O'Brien / Kewagama. The known mines at Laronde and Lapa all exceed 4000 feet in depth, showing the very significant potential of our project."

Drilling will begin by Nov. 30 and results will be announced as soon as available.

Eugene Gauthier, Ing (OIQ), acts as the qualified person for the company and has reviewed the contents of this release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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