Troymet Exploration Corp.
TSX VENTURE : TYE

Troymet Exploration Corp.

December 21, 2010 08:30 ET

Troymet Announces Three Diamond Drill Programs

COMOX, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2010) - Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company") is pleased to announce that three diamond drill programs will commence in January/February 2011 on its Canadian projects. Troymet will conduct drill programs on its Key project (gold-silver) and on its 100% owned claims in the McClarty Lake project (zinc-copper-gold). Separately, HudBay Minerals Inc. (HudBay) will complete a drill program on the option claims in the McClarty Lake project (zinc-copper-gold). The upcoming drilling season promises to be a very exciting one for Troymet. The Company is well financed and holds an exciting portfolio of exploration properties that it has developed and brought to drill-ready stage. The impact of a major precious metals or base metals discovery would be significant for the Company.

Key Project, British Columbia

The 100% owned Key project is located 125 km southwest of Vanderhoof, British Columbia. The property immediately adjoins the Blackwater project of Richfield Ventures Corp. A diamond drilling program is scheduled to start in January 2011. The Company has received all of the soil sample geochemical analyses together with induced polarization (IP) data for the western (Crag) grid. The initial interpretation indicates drill targets comprising coincident gold-silver in rock samples, gold in soils, and chargeability/resistivity anomalies. Further information will be released at a future date. The soil analyses also indicate elevated to anomalous gold and silver values over the eastern (Scarp and Butte) grids. The elevated to anomalous values coincide well with the gold and silver in rock samples, and structures believed to control the mineralization. A number of drill targets have been identified. The Company plans to extend IP surveys into these areas early in 2011 to expand and better define the drill targets.

McClarty Lake Project, Manitoba

The McClarty Lake property is located near Snow Lake, Manitoba and lies ~45 km south of HudBay's Chisel Lake and Lalor Lake volcanogenic massive sulphide (VMS) deposits. The property comprises three claims (MAC-1, MAC-2 & MAC-3; 344 hectares) owned 100% by Troymet and two claims (DYC3606 & DOL78; 252 hectares) owned 60% by Troymet and 40% by HudBay ("option claims"). HudBay is currently earning an additional 20% interest in the option claims by spending $750,000 on exploration by June 5, 2011. 

MAC Claims (100% Owned)

A diamond drilling program is scheduled to start in January 2011 to test the MAC conductor for VMS mineralization. The MAC conductor, identified in 2010 with deep penetrating electromagnetic surveys, comprises a strong, multi-line conductor at depths of between 250 and 400 metres. The conductor appears to be on trend with the conductor system that hosts the Discovery zone to the southwest (see under Option Claims) and it lies at depths beyond the detection depth of past airborne surveys. The conductor has never been drilled.

Option Claims (60% Owned)

HudBay has advised Troymet that it will complete a drilling program on the option claims, starting in February 2011. Troymet identified a gold-bearing VMS system (Discovery zone) on the option claims, in 2007.

Cambridge House International Inc.

Troymet will be presenting at the Vancouver Resources Investment Conference on January 23-24, 2011.

Tracy Hurley, P.Geo., Vice President, Exploration and qualified person as defined by National Instrument 43-101 is responsible for the technical information provided in this release.

TROYMET EXPLORATION CORP.

Kieran Downes, Ph.D., P.Geo., President, CEO & Director

This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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 news release.

Contact Information