Samaranta Mining Corporation

Samaranta Mining Corporation

June 29, 2011 10:32 ET

Samaranta Mining Corporation: Guadalupe Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 29, 2011) - Samaranta Mining Corporation (TSX VENTURE:SAX) ("Samaranta") provides the following update on the Guadalupe Gold Property located contiguous with the northern boundary of the Frontino Gold Mines in Antioquia, Colombia.

Antioquia, Colombia is one of the country's primary gold producing regions and is primarily underlain with rocks of pre-Cambrian, Paleozoic and Jurassic ages, and cut by a series of major fault zones belonging to the Palestina-Bagre-Nus-Otu system. Mineralization in the historic Frontino Gold Belt ("FGB") is controlled by the Otu Fault. The north-south trending mineralized belt (approximately 60 kilometres by 10 kilometres) contains gold mineralization associated with the Jurassic Batholith of Segovia, which intruded the older rocks. Gold mineralization along FGB have been worked extensively over the last 200 years, by artisanal miners, and numerous mining companies.

Samaranta's Guadalupe property is strategically located on the northern boundary of the Frontino Gold Mine, which has been in production since about 1852 with recorded production beginning in 1869 and totaling about 4.6 million ounces. Total gold production is believed greater given (1) there is no data prior to 1869, (2) records are intermittent between 1869 and 1898; (3) the 4.6 million ounce total does not include production data for third party mines nor artisanal and illegal miners. Rates of recovery up until recent times were unknown. In March of 2011 Gran Columbian Gold Corp. ("GCM") acquired the Frontino Gold Mine for approximately US$200 million.

The Guadalupe Gold Property and the Frontino Gold Mine are both underlain primarily by the same granodioritic rocks of the Segovia batholith. The Segovia Gold Belt is a region of granodioritic rocks measuring approximately 300 km in length by up to 75 km in width defined by a strong fault zone system trending approximately north-south. Gold mineralization within this belt is primarily associated with quartz veins and narrow vein swarms that are spatially related to the major north to northeast trending fault structures. At Frontino gold Mine there are 27 principal known veins with a total strike length of about 47.2 km. The most extensively developed vein is El Silencio, which has been mined to a depth of 815 m vertically and 1,600 m inclined length at a 30° dip on 43 levels, over about 2,100 metres of strike length. These veins tend to follow three main orientations: (i) N‐S to N30E strike, with dip of 30° E; (ii) E‐W to N35W strike, with dip 30° to N or NE and (iii) N40W strike, with dip of 65‐85° NE.

Dr. Volkmar Hable President and CEO of Samaranta stated "Given the orientation of some of the vein trends and the continuity along strike and to depth, we believe several of these vein sets may trend onto Samaranta's concessions. I am pleased that Samaranta was able to acquire a property of such caliber directly adjacent to a prolific producer. We are aggressively planning our million dollar exploration program on the Guadalupe Gold Property."

Technical information in this news release has been reviewed by Derrick Strickland, P.Geo., a qualified person as defined in NI 43-101.

Investors are cautioned that the quantity of gold production referenced above comes from 3rd party 43-101 reports and while it is believed to be accurate, company personnel have not verified these production records and therefore cannot verify the claims of Frontino Gold Mines and it is therefore provided only for illustration purposes.


Per: Volkmar Hable, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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