Suparna Gold Corp.

January 31, 2012 08:00 ET

Suparna Gold Updates Exploration Activities

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 31, 2012) - Suparna Gold Corp. ("Suparna" or the "Company") (TSX VENTURE:SUG) announces an update to its planned exploration activities on its Sara Creek Property located in the Brokopondo and Sipalilwini districts of east central Suriname, South America. The Sara Creek Property is comprised of two exploration concessions consisting of 56,920 hectares, located approximately 150 air kilometres south of Paramaribo, the capital city of Suriname. Paramaribo is the largest city in Suriname with a population of approximately 250,000 and is located on the banks of the Suriname River.

Suparna, through its subsidiary Orion Resources N.V., plans to commence diamond drilling in February 2012. The first target area has been planned for the Boto Grid within the Gran Creek target area, located within the central part of the Sara Creek Property. The Company has focused most of the current exploration efforts within this area, which includes road and drill pad construction, grab sampling of quartz vein outcropping, auger soil sampling as well as trench and channel sampling. Drill rigs have been shipped from Canada and are expected to arrive in Suriname by the end of this week.

The Company has delineated 11 drillholes to investigate a lithological contact zone (mafic and felsic units) associated with an implied shear zone. The shear zone is associated with two sets of vein systems (shear and tension veins) within the mafic unit, both of which may be auriferous. The lithological contact and associated shear zones are regarded as important areas for gold mineralisation within Greenstone belts of the Guyana Shield and the setting of the Boto Grid is regarded as similar to other known gold occurrences within the area.

The Company's drillholes have been planned to end at a hole length of 150 metres (180 degree azimuth and a 60 degree dip) and have been planned to intersect both the shear and tension vein systems. Hole spacing is planned at 200 metres with 50 metres infill drilling where required. Deeper drilling may be warranted, and holes will be deepened should favourable geology be encountered at depth.

Mr. Nico Scholtz, Pr. Sci. Nat., is the "qualified person" as defined in National Instrument 43-101, who has reviewed and approved the technical content in this press release.

Reader Advisory

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to timing and completion of the Company's proposed drilling program and exploration activities. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; and the other factors described in our public filings available at Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

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.

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