Reservoir Minerals Inc.

Reservoir Minerals Inc.

July 03, 2012 07:00 ET

Reservoir Minerals Inc.: Phase 1 Geochemical Sampling Successfully Completed at the Bibemi Project in Cameroon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 3, 2012) - (TSX VENTURE:RMC)(PINKSHEETS:RVRLF)(BERLIN:9RE) - Reservoir Minerals Inc. ("RMC" or the "Company"), is pleased to announce results from the Phase 1 stream sampling campaign in the Bibemi Exploration License in northern Cameroon. Gold anomalous stream sediment samples, together with mapping of seasonal artisanal workings, have defined three anomalous areas in the prospective Archean greenstone terrain over a strike length of 35 kilometres that warrant follow-up work.

Dr. Simon Ingram, President and CEO of Reservoir Minerals commented: "The extensive strike of the anomalous gold stream sediment samples in this prospective greenstone belt is encouraging. The Company is following up with geochemical soil sampling, the results of which will be reported as they become available."

Bibemi License

The Bibemi License covers approximately 1,000 square kilometres in northern Cameroon. The Property includes under-explored Archean greenstone formations, which are prospective for gold mineralization. Several sites of seasonal artisanal gold workings were mapped within the License.

619 stream sediment samples were collected at a density ranging from 1 sample per 0.5 to 2 square kilometres under the supervision of the Company's experienced geological team, headed by Alain Lambert.

Geological and geochemical maps of the Bibemi License (provided on the Company website demonstrate the gold geochemical anomalism (defined by 11 - 434 parts per billion gold) over the Archean greenstone terrain that extends on strike for approximately 35 kilometres NE-SW through the License. Anomalous arsenic values are associated with the gold anomalism, which is usual for the target type of mineralization. Detailed evaluation of the results, including the analysis of 6 splits from the same sample, suggests a strong "nugget-effect" caused by the presence of coarse gold in the stream sediments. Although this can result in an inconsistent and "spotty" distribution of anomalous gold content, the stream sediment samples with results greater than 50 parts per billion gold together with mapping of artisanal workings have identified three areas, each of which covers several 10's square kilometers of gold anomalism in the Archean greenstone terrains. These areas require follow-up work to determine the source of the gold anomalism. To this end, a geochemical soil sampling campaign has already been initiated in these areas.

Under the terms of an Option and Joint Venture Agreement between the Company and the Bureau d'Etudes et d'Investigations Géologico-Minières, Géotechniques et Géophysiques (BEIG3 SÀRL) ("BEIG3") a joint venture company has been formed which is 90% owned and managed by RMC. Commencing on the transfer of the the Bibemi and So'o properties to the joint venture company, RMC will pay to BEIG3 C$ 85,000 over a two year period, refund prior exploration costs of up to C$ 10,000 and incur exploration expenditure of C$ 4,000,000 prior to December 31 2022 or the expiry of the last exploration licence.

Quality Control:

The Company follows industry standard quality assurance and quality control procedures for all samples. The QA/QC program includes the insertion of duplicates and certified standards into the sample stream. Samples were prepared by sieving and riffle splitting at the sample site, under the supervision of Company staff, to 100 grams of <125 micron grain size. Samples were shipped by courier to OMAC Minerals Laboratories in Ireland, where 50g was analysed for gold by fire assay with AAS finish, and for 46 trace and major elements by ICP-ME.

Qualified Person:

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

About the Company:

Reservoir Minerals Inc. is an international mineral exploration and development company run by an experienced technical and management team, with a portfolio of precious and base metal exploration properties in Serbia and West Africa.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.

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