Stakeholder Gold Corp.
TSX VENTURE : SRC

Stakeholder Gold Corp.

August 17, 2011 08:00 ET

Stakeholder Yukon Exploration Update

DAWSON CITY, YUKON--(Marketwire - Aug. 17, 2011) - Stakeholder Gold Corp. (TSX VENTURE:SRC) is pleased to announce that exploration has commenced on a number of properties in Yukon. Soil sampling is underway on the 75-claim (1,553-hectare) Culvert gold property located about 200km north of Watson Lake, Yukon. The property lies approximately 16km north of the 3Ace property where Northern Tiger Resources Inc. announced a new discovery in November 2010. Previous work by the property vendors returned up to 22.8gpt Au in grab samples from the Culvert showing. The showing consists of quartz veins and breccias within sheared meta-sedimentary rocks. Similar mineralization has been traced in float and scattered outcrops for a distance of 2,000m northwest from the showing. Limited geophysical work and soil geochemical sampling also indicates a district gold trend along this 2,000m distance. The current program involves the collection of up to 2000 soil samples with the goal of better defining the gold trend.

A second soil sampling program is underway in the White Gold district of Yukon. This program will include sampling on the Ballarat, Thistle Mountain, Divide, Tak, Coffee, VO and Marion properties. The White Gold area lies within an underexplored part of the Tintina Gold Belt. This metallogical province has past production of 29.9 million ounces and 39.3 million ounces of resources for total gold resources of 69.2 million ounces. Notable gold deposits are Donlin Creek, Ft. Knox, Pogo and Brewery Creek. The White Gold area overlaps with the Klondike Gold camp where over 20 million ounces of placer gold have been produced to date. The hard rock potential of this area had not been recognized until 2009 when Underworld Resources Inc. announced the Golden Saddle discovery. This led to a massive staking rush that was followed in 2009 by a second major discovery by Kaminak Gold Corp. on its Coffee Project. The White Gold area is currently one of the busiest exploration districts in Canada. Stakeholder holds a total of 17,046 hectares in the area. The current program involves the collection of up to 6,500 soil samples with the goal of identifying trenching and or drilling targets prospective for gold mineralization.

"Now that the spin-out of Hinterland's Yukon assets into Stakeholder is completed, we are glad to have the crews out on the projects and back to doing what we do best," comments Mark Fekete, President and CEO and designated "qualified person" as defined in Section 1.2 in and for the purposes of National Instrument 43-101 responsible for the technical content of this release.

This release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company's periodic reports including the annual report or in the filings made by the Company from time to time with securities regulators. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of an unanticipated event.

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

  • Mark Fekete, President and CEO
    Toll Free 1-800-610-9552 or 778-785-3159