Reservoir Capital Corp.

Reservoir Capital Corp.

October 16, 2007 08:00 ET

Reservoir Commences Drilling for Gold at Plavkovo

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2007) - Reservoir Capital Corp. ("Reservoir" or "the Company") (TSX VENTURE:REO) is pleased to announce that diamond drilling has commenced at the Bukovik prospect in its Plavkovo Permit in southern Serbia.

Previous work by Company geologists identified a gold-bearing, silica-alunite zone, covering an area of about 1,000 by 250 meters at the Bukovik Prospect in the Plavkovo Permit, the geology of which is dominated by Neogene volcanics and volcaniclastics. The silica-alunite alteration cap rock is persistently anomalous in gold (150 samples with a mean of 0.21 grams per ton (g/t) and maximum of 1.74 g/t gold), including chip-channel values of up to 1.12 g/t gold over 2 meters. An induced polarization geophysical survey was recently undertaken by the Company, and several chargeability anomalies were identified and are interpreted to represent sulphide mineralization beneath the leached silica-alunite cap.

The Bukovik high-sulphidation alteration system is located about 4.5 kilometres southwest of the Rudnitza copper-gold porphyry system that is the focus of drilling by Euromax Resources Ltd. under the terms of their option agreement with a local subsidiary of Freeport McMoRan Copper and Gold Inc.

Approximately 700 metres in 3 diamond drill holes are planned. The holes will test the most promising geophysical targets beneath the gold-bearing silica-alunite alteration cap.

Quality Control

The Company's rock geochemical samples were collected in accordance with accepted industry standards. The samples were submitted to the ISO 17025 certified ALS Chemex laboratories in Vancouver, for analysis: gold was analyzed by fire assay with an AAS finish, and multi-element analyses were determined by ICP MS/AAS techniques. The Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, and field duplicates.

Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, is responsible for the preparation of the technical information in this release.

About Reservoir

Reservoir is a South East Europe focused natural resources company, currently exploring for gold and base metals on eight exploration properties in Serbia and actively seeking new business opportunities. Reservoir's common shares trade on the TSX Venture Exchange under the symbol "REO".

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

Contact Information

  • Reservoir Capital Corp.
    Miljana Vidovic
    (604) 662-8448
    Reservoir Capital Corp.
    Miles Thompson
    (604) 662-8448
    Reservoir Capital Corp.
    Kim Casswell
    Corporate Secretary
    (604) 662-8448
    (604) 688-1157 (FAX)