Ryan Gold Corporation

Ryan Gold Corporation

November 16, 2011 11:30 ET

Ryan Gold Identifies Significant Gold-in-Soil Anomalies, Up to 3.4 g/t Au, at the Pluto and Venus Prospects, Kluane Project Area in the Yukon Territory

TORONTO, ONTARIO--(Marketwire - Nov. 16, 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 3,427 ppb from the reconnaissance ridge and spur soil program conducted on the Pluto and Venus prospects in the Kluane Project Area during the 2011 exploration season. Pluto and Venus are two of seventeen claim blocks that make up the current Kluane Project Area (see attached map: http://media3.marketwire.com/docs/PlutoVenus_1116.pdf).

The Kluane Project Area is located approximately 200 km northwest from the city of Whitehorse and within the Whitehorse Mining District of the Yukon Territory. The Pluto and Venus prospects initially comprised a total of 1,910 claims for 39,919 hectares (See attached map: http://media3.marketwire.com/docs/PlutoVenus_1116.pdf).

This summer a total of 2,876 ridge and spur soil samples were taken at 50 m sample spacing within the two original Pluto and Venus claim blocks. Anomalous gold-in-soil values greater than 100 ppb gold and up to a maximum of 3,427 ppb gold were identified over the claim blocks covering an area of approximately 16 km by 7 km (See attached map: http://media3.marketwire.com/docs/PlutoSoils1116.pdf). An encouraging aspect is that the anomalous soil values of >100 ppb Au are associated with wide zones of 30 – 100 ppb Au. Those soil samples with ≥30 ppb Au represent the upper 3% of the gold-in-soil values for the Pluto and Venus Prospects.

Reconnaissance mapping along the ridge and spur sample lines has identified zones of quartz veinlets and silicified metasediments. The geology of the area is comprised of a metasedimentary package of biotite schist, phyllite, psammite and a marble unit. This metasedimentary package which is part of the Finlayson assemblage, 370 to 340 Ma, is intruded by the Ruby Range Batholith and Rhyolite Creek Complex, 64 to 57 Ma. Quartz feldspar porphyry and welded tuffs of the Rhyolite Creek Complex and granodiorite, diorite and quartz diorite intrusions of the Ruby Range Batholith were observed within the claim blocks.

Within the context of other regional soil sampling campaigns completed in the Yukon over the last three years, the Company considers these to be extremely significant results.

With the very encouraging soil results both on, and surrounding, Pluto and Venus prospects, an additional 1,282 claims totalling 26,794 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 Pluto and Venus Prospects now total 3,192 claims and 66,713 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 2,584 m. In addition to Ida Oro the Company completed an aggressive and systematic exploration program on its other properties that will 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

  • Ryan Gold Corp.
    David Schmidt, VP Corporate Development
    (604) 639-3119

    Michael Skead, CEO
    (416) 482-9038