Ryan Gold Corporation

Ryan Gold Corporation

November 28, 2011 11:00 ET

Ryan Gold Identifies Significant Gold-in-soil Anomalies, Up to 0.5 g/t Au, at the Sapphire Prospect, Kluane Project Area in the Yukon Territory

TORONTO, ONTARIO--(Marketwire - Nov. 28, 2011) - Ryan Gold Corp. (TSX VENTURE:RYG), "Ryan Gold" or the "Company") is pleased to report initial anomalous gold-in-soil values of between 100 ppb and 574 ppb from the reconnaissance soil program conducted on the Sapphire Prospect in the Kluane project area during the 2011 exploration season. The Sapphire Prospect is one of seventeen claim blocks that make up the current Kluane Project Area (see following map: http://media3.marketwire.com/docs/KluanePresentation_Sapphire.pdf).

The Sapphire prospect is located approximately 200 km northwest from the city of Whitehorse and within the Whitehorse Mining District of the Yukon Territory. The Sapphire Prospect initially comprised a total of 460 claims for 9,614 hectares (See following map: http://media3.marketwire.com/docs/KluanePresentation_Sapphire.pdf).

This summer a total of 2,199 contour and ridge and spur soil samples were taken at 50 m sample spacing within and surrounding the original Sapphire claim block. Anomalous gold-in-soil values greater than 100 ppb gold, the upper 1% of the gold-in-soil values, and up to a maximum of 574 ppb gold were identified over the claim blocks covering an area of approximately 13 km by 8 km (See following map: http://media3.marketwire.com/docs/Sapphire_Soils.pdf). The geology of the area is comprised predominantly of late Cretaceous Kluane Schist intruded by 1-2 m wide diorite - granodiorite dykes. Pyrite bearing dacite boulders were observed in close proximity to saddles within the area mapped. In the southwestern corner of the Sapphire claim block an undeformed granodiorite, intrudes the Kluane Schist. Two sets of quartz veins, one set parallel and the other cross-cutting the schistose fabric, were observed within the schist package. Minor quartz veins have been observed in the granodiorite dykes.

The Company considers the above gold-in-soil results together with the evidence of quartz veining in the schists and pyrite mineralisation observed in dacite boulders to be very encouraging for targeting gold mineralisation on the claim.

Based on the encouraging soil results and reconnaissance mapping, an additional 207 claims totalling 4,326 hectares have been staked to augment the Company's land position. Reconnaissance ridge and spur sampling will be conducted within this new area in the summer of 2012 and detailed soil grids and geological mapping will be completed over the main areas of interest. The expanded Sapphire Prospect now totals 667 claims and 13,940 hectares.

Ryan Gold together with Acme Laboratory has a QA/QC policy in place to ensure accuracy, precision and quality of results. Acme Laboratory is an ISO 9001 registered laboratory.

The exploration program was supervised by Ian Gendall (Pr. Sci. Nat.), Vice President Exploration of Ryan Gold Corp. who is the "qualified person" within the definition of that term in NI 43-101. Michael Skead (MAusIMM), and a "qualified person" within the definition of the term in NI 43-101, has reviewed the technical information in this news release.

About Ryan Gold Corp.

Ryan Gold Corp. is an exploration company focussed on gold exploration primarily in the Yukon Territory, Canada. The Company is well funded and has a large land package of approximately 5,047 km2 comprised of 83 different properties. The company's flagship property is Ida Oro. During the summer of 2010 a soil sampling programme completed on Ida Oro revealed a significant, >100 ppb Au, gold-in-soil anomaly over an area of 4 km by 1.2 km. The company completed an 11 drill hole drill campaign for a total of 2,854 m. In addition to Ida Oro the Company completed an aggressive and systematic exploration program on its other properties that included 13,985 line kilometres of airborne magnetic and radiometric surveys, flown on the Mahtin and Nug properties and collected 91,168 soil samples and geological mapping of targets borne out of this campaign. Through this aggressive exploration program the company objective is to have at least three other projects drill ready for the 2012 exploration season.

This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans and business trends. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any mineral that may be produced, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitability, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including any technical reports filed with respect to the Company's mineral properties. This press release is not, and is not to be construed as an offer to buy or sell securities in the United States.

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

  • For additional information, or for a copy of
    the early warning report filed in respect
    of the above transaction:
    Ryan Gold Corp.
    David Schmidt, VP Corporate Development
    (604) 639-3119

    Michael Skead, CEO
    (416) 482-9038