Samaranta Mining Corporation

Samaranta Mining Corporation

June 19, 2012 09:00 ET

Samaranta Confirms Priority Drill Targets With IP Survey

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2012) - Samaranta Mining Corporation. (TSX VENTURE:SAX) announces that it has received the maps and final results from the 13.5 line kilometer IP survey completed on two parallel grids on its Guadalupe property in Segovia District of Colombia. Within the area surveyed three discreet conductors were identified. The survey and subsequent maps were completed by SJV Geophysics of Delta BC. The survey was designed utilizing East - West lines to intersect the regional N20E to N30E structural trends that are known to host high grade vein mineralization immediately south of the Guadalupe property. Two of the three conductors may be related as both are associated with a mapped contact between a metamorphosed sedimentary unit and a felsic tuff. Both of these units are believed a veneer over a diorite intrusion. Gold mineralization at Frontino Gold Mines ("FGM"), which lies directly to the south of the Guadalupe property, is hosted in a diorite intrusion. Target Area 2, the southern most of the two conductors, is the most attractive.

Target Area 2

Target Area 2 includes the projected extensions of the Cristales and San Nicholas vein structures, both of which were the subject of historic mining efforts. Here, a strong chargeability anomaly with associated moderate resistivity low was identified. The anomaly coincides with an area where field mapping has identified hydrothermal alteration related to a mylonite. This priority target lies between the projected extension of the San Nicholas and Cristales veins. A quartz diorite unit has been mapped about 200 meters to the northwest of the conductor and a granodiorite unit that is known to host FGM style mineralization that lies about 200 meters South east of the conductor. Target area 2 was chosen as a priority drill target in a geological compilation report completed prior to the IP survey. The IP survey adds geological strength to this target.

Middle Target Area

The Middle Target Area is a strong chargeability anomaly, the centre of which is approximately 700 meters north of the centre of Target Area 2. This target is also associated with a mapped contact between a metamorphosed sedimentary unit and a felsic tuff. Given both the Target Area 2 conductor and this Middle Target Area conductor(s) appear associated with the same geological contact and the two anomalies are separated by 400 metres and appear to be on trend with one and another, there may be an association between Target Area 2 conductor and the Middle Target Area conductor(s). The signature at the Middle Area is slightly different in that the chargeability high is associated with a moderate resistivity high. This target lies along the general projection of the Cristales vein. The chargeability high along with the 2011 airborne survey results builds a good case for drilling.

The combination of the IP survey, airborne magnetics / radiometric survey and geological compilation has identified several structural corridors believed to be prospective for gold mineralization. A soil geochemistry program is ongoing in the vicinity of Target Area 2. This survey is comprised of auger drilling down to a depth of 3 feet and then collecting a soil sample. The intent of this soil geochemistry survey is identify prospective areas for gold mineralization and eventually drilling.

"The conductors identified through the IP survey fit very well with all of the previous compilation work, particularly in the Target 2 Area," stated Volkmar Hable, President of Samaranta. "We have confidence our work has identified the most prospective drill targets and look forward to the results of the geochemistry survey confirming this belief."

Technical information in this news release has been reviewed by Derrick Strickland, P.Geo., a qualified person as defined in NI 43-101. Copies of the IP sections can be viewed on the Company's website at


Volkmar Hable, President

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