Tawsho Mining Inc.

Tawsho Mining Inc.

October 21, 2010 09:41 ET

Tawsho Mining Inc. Enters Into a Letter Agreement to Purchase Additional Mineral Claims in the Baie Verte Area, Newfoundland and Provides Operational and Corporate Update

Acquisition of Additional Mineral Claims

CONCORD, ONTARIO--(Marketwire - Oct. 21, 2010) - Tawsho Mining Inc. (TSX VENTURE:TAW) ("Tawsho" or "Company") is pleased to announce that it has entered into a letter agreement (the "Agreement") with Roland Chamberlain ("Chamberlain") dated October 15, 2010, to acquire a 100% ownership interest in the mineral claim blocks and any related license granted by the province of Newfoundland in association therewith, located in the Baie Verte Peninsula, Newfoundland, being license number 9646M. These mineral claims covering 50 ha are adjacent to the Company's existing option rights acquired from Rhino Exploration Ltd on 8 February 2010. The existing option rights are for 835 mineral claim blocks covering approximately 20000 ha.

Completion of the transaction contemplated by the Agreement is conditional upon approval by the Board of Directors of Tawsho.

In addition, Tawsho has recently completed the staking of an additional 73 mineral claim blocks covering 1825 ha in, around and adjacent to their existing option rights which they acquired from Rhino Exploration Ltd.


Tawsho Mining Inc. is also pleased to provide the following update of its exploration activities that have recently been completed on several of its key projects since the last report.

Wisker Valley Property – Baie Verte region, Newfoundland:

Each of the eleven drill holes completed at the time of the last report, were logged. Selected mineralized intervals from each hole were split and the samples were submitted to the Eastern Analytical Laboratory for analysis. The analytical results for duplicate and standard samples have been reviewed to confirm that the analytical results met the required standards. The analytical results obtained for each hole are being compiled and merged with the existing drill log files. The analytical results obtained for samples collected in the till-soil geochemical survey and for the grab samples of mineralized outcrop in the region collected during the prospecting survey have also been evaluated and are plotted on maps. A report on these results is being prepared and will be filed as an assessment report with the Newfoundland-Labrador Department of Mines. A summary report of these results will be released at date of filing.

Meanwhile additional field exploration is being aggressively continued. The till-soil sampling program has been extended over the eastern portion of property grid and an additional 1050 soil samples are being collected by SCI Exploration and will be analyzed at Eastern Analytical within the next month or so. The IP survey completed last summer for Tawsho by RDF is being merged with historical IP data that had been previously completed in adjacent areas.

Similarly, a regional compilation of all the historical aeromagnetic, radiometric, field and grab sample analytical data obtained through earlier exploration activities in the region have been evaluated and will be merged with the current data generated by Tawsho on the property. Radar sat imagery and Aster sat files of the Property are being obtained and will be added to complete the map layers in the GIS data base.

Chevrier Property, Quebec:

The data compiled and reviewed, and the 3-D model of mineralization generated on Tawsho's Chevrier property by MetChem in a recently completed NI 43-101 resource evaluation of the Chevrier property is being studied and the recommendations in the report are being evaluated. A complete and comprehensive review of the mineralization occurring on the property is currently underway to better plan the next stage of activity that is required to develop the property. The MetChem report has demonstrated that the grade distribution within the Chevrier mineralized body is structurally complex and is only now being understood. Tawsho understanding of the underlying structural geology and its controls on the spatial distribution of mineralization will now guide its programs to better plan the development of other showing in the adjacent ground and thereby increase the resource base of the property.

Tawsho's African Interests:

Tawsho is continuing its interest in Africa by searching for and identifying high potential concessions. Basic geological information is being gathered and analyzed with our partners on the ground in West Africa, Ethiopia and Tanzania.

The operational update section of this press release was prepared and reviewed by:

Edward Procyshyn P. Geo., QP and

Michael M. Avedesian P. Eng., QP


Tawsho also wishes to announce that Eva Wolisiuk has resigned her position as CFO of the Company. She has been replaced with Kar Peng Yong C.A. who will act as the interim CFO for the Company.


Tawsho is a mining exploration company focused on the acquisition, exploration and development of gold resources and advanced stage gold exploration projects. The Corporation is presently engaged in developing its projects in the Baie Verte Region of Newfoundland, Chevrier Region of Quebec and in Africa. Tawsho currently has approximately 22 Million shares outstanding.

Neither 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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