Rogue Resources Inc.
TSX VENTURE : RRS

Rogue Resources Inc.

November 22, 2011 08:00 ET

Rogue Resources Appoints Freeman Smith Executive VP & Director, Completes Phase One at Radio Hill

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 22, 2011) -

  • PHASE 1: 3,100 METERS OF DRILLING COMPLETED

  • PHASE 2: DRILLING COMMENCED; WILL CONCLUDE WITH 43-101 RESOURCE ESTIMATE

  • INITIAL ASSAYS RECEIVED AND BEING COMPILED WITH DAVIS TUBE RESULTS

  • MANAGEMENT BUILDING TECHNICAL TEAM TO MOVE RADIO HILL TOWARD THE NEXT STAGE OF EXPLORATION AND DEVELOPMENT

Rogue Resources Inc. (TSX VENTURE:RRS) (the "Company") is pleased to announce it has appointed Mr. Freeman Smith, P.Geo., as Executive VP and Director of the Company. Mr. Smith graduated from the University of British Columbia with a B.Sc. Geology and has over 20 years' experience in geological sciences and the mineral exploration industry. Mr. Smith has worked with a number of exploration and production companies, including BHP and Teck, and more recently has been instrumental in the formation of several junior exploration companies, holding various senior management and officer positions specializing in fundraising, marketing and corporate development.

"As Executive VP, Mr. Smith's initial focus will be to spearhead the ongoing recruitment and development of our technical team as we look to capitalize on our competitive advantage," comments Company President and CEO, Steve de Jong. "Rogue's advantage will be found in its ability to decrease overall time to market by utilizing existing infrastructure and access to a nearby mining-savvy workforce. Strong iron ore prices and this exceptional infrastructure, combined with detailed knowledge of the deposit through the extensive historical work have removed a lot of the unknowns typical of an exploration project."

At Radio Hill the Company has completed Phase 1 (3,100 m) of its larger 10,000 m diamond drill program initiated to test the historical iron ore resource at Radio Hill. Preliminary results from Phase 1 have been encouraging and the historical work appears to be consistent with new data. Initial assays have been received and will be announced once they have been compiled with Davis Tube test results. Based on the positive results from the first phase, the Company has elected to move immediately into the second phase and continue drilling throughout the winter. Pending availability, a second drill may be mobilized early in the New Year.

RADIO HILL *

The Radio Hill project, located 80 km southwest of Timmins, Ontario, was first developed in the late 1950s and early 1960s by Kukatush Mining Corp. who spent an estimated $10 million in 2011 dollars on exploration and metallurgical work, including 140 drill holes and a number of metallurgical studies. Following resource definition, a study to determine the feasibility of a mine being put into production was conducted. This study was initiated on the upper portion of the deposit and was deemed encouraging enough that Kukatush laid railway grade from the Canadian National (CN) mainline to the Radio Hill deposit, a distance of approximately 3.5 km. The historical feasibility study conducted by FENCO Ltd. indicated a 3.5 concentration ratio (3.5 tons of iron ore produced 1 ton of concentrate) which would produce a high-grade concentrate of between 66% and 68.5%. At that time recovery and pelletizing tests were also conducted which included both laboratory and pilot testing of grinding, concentrating and pelletizing practices (Neal and Ridell, 1965). This historic metallurgical test work indicated that a commercially acceptable iron concentrate could be produced from Radio Hill mineralized material. These studies also showed the Radio Hill ore to be very low in contaminants.

Freeman Smith, P.Geo., is the qualified person for the purposes of National Instrument 43-101 and has reviewed the technical contents of this press release.

ABOUT ROGUE RESOURCES

Key milestones expected in the near term are:

  • Results from drilling at Radio Hill Iron Project
  • Completion of Radio Hill resource estimate
  • Completion of scoping study on Langmuir Nickel Project
  • Announcement of JVs or other partnerships on non-core assets
  • Appointment of key personnel to technical and management teams

In addition to the Radio Hill Project the Company has a 100% interest in the Langmuir Nickel project which has a NI 43-101 compliant resource estimate outlining 18.2 million pounds of high-grade (0.98%) nickel and 1.2 million pounds of copper.

The Company has contracted SRK Consulting Ltd. to complete a scoping study on the project, of which the metallurgical portion is now nearing completion.

ON BEHALF OF THE BOARD OF DIRECTORS

Steve de Jong, President & CEO

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*The historical estimates and feasibility values mentioned in this document are not in accordance with the mineral resources or mineral reserves classifications contained in the CIM Definition Standards on Mineral Resources and Mineral Reserves, as required by National Instrument 43-101 ("NI 43-101"). Accordingly, the Company is not treating these historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and such historical estimates should not be relied upon. A qualified person has not done sufficient work to date to classify the historical estimates as current mineral resources or mineral reserves. The term "ore" in this document is being used in a descriptive sense for historical accuracy, and is not to be misconstrued as representing current economic viability.

Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the use of the proceeds from the private placement, constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration activities, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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 news release.

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