Reliant Gold Corp.
TSX VENTURE : REC

Reliant Gold Corp.

July 06, 2011 08:53 ET

Reliant Gold Announces Commencement of Drill Exploration Program at Its MC Dalhousie Project

TORONTO, ONTARIO--(Marketwire - July 6, 2011) - Reliant Gold Corp. ("Reliant" or the "Company") (TSX VENTURE:REC) is pleased to announce the commencement of a fully-permitted diamond drilling exploration program at its gold-silver-copper prospective MC Dalhousie Property located sixteen kilometers north of the town of Stewart, in northwestern British Columbia, Canada (the "Property" or "MC Dalhousie"). MC Dalhousie is situated approximately two kilometres east of the formerly producing gold-silver-copper Silbak Premier Mine on Bear River Ridge, north of the Alaska-British Columbia border. The Silbak Premier Mine was in production between 1918 and 1958 and in production intermittently between 1969 and 1996. MC Dalhousie has good access to infrastructure, including water and electricity, and highway access, and is nearby a 2,000 tonne per day milling facility.

The Company has an option to acquire up to a 100% interest in MC Dalhousie.

The drilling program at MC Dalhousie is expected to consist of about 1,000 metres over five holes to be completed over the next two to three weeks. Drilling will test strong gold (Au), silver (Ag), and base metal soil and rock geochemical anomalies in the vicinity of the historical Rock of Ages showings. The drill target area was defined based upon a surface exploration program completed by the Company during 2010 in which a series of chip and grab rock samples returned values containing up to 19.1 g/t Au, 82.3 g/t Ag, 1.31% copper (Cu), 15.1% zinc (Zn) and 3.39% lead (Pb) within an area hosting a large soil geochemical anomaly approximately 200 metres long and 150 metres wide averaging 0.29 g/t Au, 23.3 g/t Ag, 1.06% Zn and 0.52% Pb. The showings are found over a length of 400 metres and are associated with chert-hematite-jasper stratiform rocks hosting a high magnetic signature.

"We are extremely pleased to be moving forward with our drill test program at MC Dalhousie and have assembled a strong exploration team under the supervision of Dr. Trevor Boyd, the Company's Vice President of Exploration, to carry out the program", said Mr. Andrew Hara, President and Chief Executive Officer of Reliant.

Trevor Boyd, Ph.D., P.Geo., a Qualified Person as defined by National Instrument NI 43-101 ("NI 43-101") and Vice-President of Exploration of Reliant, directs the MC Dalhousie exploration program and supervised the preparation of the technical information contained in this press release in compliance with NI 43-101. Dr. Boyd is also the President and a director and the controlling shareholder of Millennium Minerals Limited which has granted to Reliant an option to earn a 100% legal and beneficial interest in the North Nonacho Property located in the Northwest Territories.

ABOUT RELIANT

Reliant is a junior mineral exploration company with an experienced management team engaged in the acquisition, exploration and development of properties for the mining of precious and base metals and uranium. The Corporation holds: (i) an option to acquire a 100% interest in the MC Dalhousie Property located in northwestern British Columbia, Canada; (ii) an option to acquire a 100% interest in the North Nonacho Property in the vicinity of Nonacho Lake, Northwest Territories, Canada; (iii) an option to acquire a 100% interest in the Esten Property located 10 km south of Elliott Lake, Ontario, Canada, as well as 16 units staked by the Company contiguous to the Esten Property; and (iv) a 100% interest in the Borden Lake South Property, comprised of 288 claims, located 10 km east of town of Chapleau, Ontario. The common shares of Reliant trade on the TSX Venture Exchange under the stock symbol "REC". The Company has 19,702,777 common shares issued and outstanding.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Reliant or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of Reliant with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in continuous disclosure documents filed by Reliant from time to time with the Ontario, British Columbia and Alberta Securities Commissions which are available at www.sedar.com and to which readers of this press release are referred for additional information concerning Reliant, its prospects and the risks and uncertainties relating to Reliant and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of Reliant to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Reliant cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

The forward-looking information contained in this press release is current only as of the date hereof. Reliant does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

No securities commission or regulatory authority has approved or disapproved the contents of this press release. 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

  • Reliant Gold Corp.
    Andrew Hara (Harasimowicz), B.Sc. (Hon.), P.Eng.
    President and Chief Executive Officer and Director
    (905) 822-4078
    (905) 822-8018 (FAX)
    info@reliantgold.com