Ressources Appalaches Inc.

Ressources Appalaches Inc.

January 30, 2014 08:00 ET

Ressources Appalaches: Exploration of Neighboring Properties at the Dufferin Mine and Extension of the Term of Warrants

RIMOUSKI, QUEBEC--(Marketwired - Jan. 30, 2014) - Ressources Appalaches (TSX VENTURE:APP)(FRANKFURT:OU3) has conducted exploration work at the Chocolate Lake and Miller Lake properties located 8 and 20 km east, respectively, of the Dufferin Mine in Nova Scotia. These two properties are situated along the same structural corridor as the Dufferin Mine. The Company's strategy is to focus the work and the vast majority of the budget on the development of the Dufferin Mine. However, a part of the budget is earmarked for the project's long-term development in order to determine the extensions or discover new structures in neighbouring properties.

A first exploratory borehole of 239 m was drilled at the Chocolate Lake property. The aim was to locate the extension of the anticlinal structure of the Dufferin Mine, located 8 km to the east. Although the drilling did not reach its target due to technical problems and difficult field conditions, some veins similar to those encountered at the Dufferin Mine were nevertheless observed. Samples were sent to the laboratory for gold analysis. Based on these results, a second drilling site will be determined.

A ground magnetic survey was performed at the Miller Lake property to cover the unexplored area of the asset. A total of 59 km was surveyed. Several anomalies were located parallel to the folded structure. The comparison and integration of this survey with those conducted previously in mineralized areas will help target future exploration work more accurately.

As part of a subsidy program for the discovery and development of new mines (''Nova Scotia Mineral Incentive Program''), the Company received a grant from the Government of Nova Scotia equivalent to 50% of the cost of the work performed at these properties.

On January 28, 2014, the Company filed an application with the TSX Venture Exchange to extend the expiration date of the stock purchase warrants expiring on February 13, 2014. The requested new expiration date is August 13, 2014. These warrants form part of a private placement which closed on February 13, 2012 and consisted of the issuance of 25,300,000 units at a price of $0.05 per unit. Each unit consisted of one common share in the capital of the Company and one warrant. Each warrant originally entitled the holder to purchase one common share at an exercise of $0.10 on or before February 13, 2014. No warrants have been exercised to date. This modification is subject to the approval of the TSX Venture Exchange.

About Ressources Appalaches

Since it was created in 1994, the goal of Ressources Appalaches has been to discover and develop deposits of base and precious metals in Canada with an expertise targeted towards the Appalachian geological formation in Québec and Nova Scotia. The Company is mainly focused on the exploration and development of the Dufferin Gold Mine in Nova Scotia.

Photos of the Dufferin Mine and its facilities are available on the Company's website at:

The contents of this press release were prepared and reviewed by Alain Hupé, Eng. A Qualified Person as defined in NI 43-101. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.

This press release may contain certain forward-looking statements that include elements of risk and uncertainty. Consequently, actual results may differ substantially from those anticipated in such statements. These risks and uncertainties are described in the quarterly and annual reports, and in the documents submitted to the securities administration.

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