Tawsho Mining Inc.

Tawsho Mining Inc.

May 16, 2012 10:50 ET

Tawsho Mining Inc. Provides Corporate Update

TORONTO, ONTARIO--(Marketwire - May 16, 2012) - Tawsho Mining Inc. (TSX VENTURE:TAW) ("Company" or "Tawsho") announces today the following drilling update on its three properties.

"Tawsho's plans to explore the properties it has acquired in Quebec and Newfoundland are measured against risk and are designed to maximize the returns on each dollar spent. Our properties are located within gold mining camps having excellent potential. Tawsho is rapidly assembling its exploration teams having the necessary expertise to efficiently explore our holdings. We are confident that the results from 2012 exploration activities will greatly enhance our ability to define the resource base of our properties and thereby add value to the shareholders of the company" stated Mr. Perkins CEO.

Drilling campaign details:

The 2012 Newfoundland drilling campaign on Tawsho's Whisker Valley and Cabot properties will commence this month and should be completed by end September 2012.

At the Whisker Valley property drill sites have been selected on the basis of previous drilling and trenching results. The objective of the 2012 drill campaign is to extend the trend and the depth of mineralization from previously identified locations and to provide assay data that can be used to evaluate the resource base of these discoveries. A total of 2,500 metres of diamond drilling will be undertaken at the Whisker property. Additional geochemical sampling and mapping will be conducted on anomalous zones previously identified on the property from regional RadarSat and WorldView2 spectral/Aster studies.

At the Cabot property, two holes for a total of 500 metres in length will be initially drilled to confirm historical drill results. Six additional holes for a total of 2000 metres will follow but prior to this campaign a deep penetrating TEM-Magnetic survey is being planned for the Cabot property to possibly locate the more massive sulfide bearing portions of the Cabot mineralized zone and to identify structures that may influence spatial distribution of mineralization. The objective of the drill campaign on the Cabot property is to extend known location of Cu-Co and Au mineralization along strike and depth and to evaluate its resource base.

At the Chevrier property in Chibougamau, Tawsho will complete its resource re-evaluation of the current inferred gold resource of 494,000 ounces. A GIS data base compilation and review of field and structural data has been completed and the drill sections are being re-drawn and re-interpreted. Selected portion (4 - 10 holes) of the core will be re-logged to identify viable attributes that can be used to identify individual vein intersections and which can be used to correlate/connect these intersections within and between adjacent drill sections. If viable attributes can be identified, the remaining historic core will be photographed and subsequently photo-logged. Using these new drill data and subsequent drill sections, the assay data accordingly will be statistically kriged to define appropriate grade envelopes within the section and extended between sections to outline the volume of mineralized body and to determine the grade distribution required to recalculate the resource base of the Chevrier mineralized body. Three holes will be drilled to verify the model that was the basis for resource re-calculations. New drilling will subsequently be conducted to extend the mineralized body with depth and along strike.

It should be noted that the drilled portion of the Tawsho claims in the Chevrier area represents less that 1.5% of the 95.4 sq. km. area covered by the claims. A recompilation of data in the regional area will be undertaken and used to plan regional exploration activities to identify or evaluate other mineralization centers within the claim holdings.

Additionally, Tawsho wishes to acknowledge financial support by the Government of Newfoundland and Labrador through the Mineral Incentive Program, Department of Natural Resources. Tawsho's Junior Exploration Assistance grant amounted to $100,000 and helped to defray its drilling, logging and assay costs incurred during the 2011 drilling campaign.

Mr.Omar Tazi has submitted his resignation as Chief Financial Officer ("CFO") of the Company. We thank him for his services and wish him well in his future endeavours. Mr. Joseph Feldman, an existing Board Member since Tawsho went public in 2008, will assume the interim position of CFO until a suitable candidate is hired.


Tawsho is a mining exploration company focused on the acquisition, exploration and development of gold resources and advanced stage gold exploration projects. The Company is presently developing its Chevrier project (comprised of 557 claims, covering an area of 9,542 hectares, or 95.4 sq. km) in the Chibougamau region of Quebec and its Whisker Valley project (comprised of 913 claims, covering an area of 21,875 hectares, or 218.8 sq. km) and the Cabot Property comprised of 100 claims, covering an area of 2,500 hectares, or 25 sq.km) in Baie Verte, Newfoundland. Tawsho has 23 million shares issued and outstanding.

This press release was prepared by Gary Perkins CEO and reviewed by Edward Procyshyn P. Geo., who is the qualified person as defined by NI 43-101.

Forward-looking statements provide an opinion as to the effect of certain events and trends on the business. Certain statements contained in this news release constitute forward looking statements. The use of any words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements.

These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company's properties; the estimation of mineral reserves and mineral resources; conclusions of economic evaluation; the realization of mineral reserve estimates; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Readers are cautioned not to place undue reliance on these statements as the Company's actual results, performance, or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or any other reason except as required by applicable securities laws.

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

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