Troymet Exploration Corp.

TSX VENTURE : TYE


Troymet Exploration Corp.

November 08, 2012 08:00 ET

Troymet Completes Drilling on Key Project

COMOX, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2012) - Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company") reports the fall drilling program on its 100% owned Key gold project in British Columbia has been completed. A total of 867 metres of reverse circulation drilling (RC) were completed in 16 holes. Drilling tested gold-in-soil anomalies +/- coincident induced polarization anomalies in the Buzz (10 holes), SGN (2 holes), P1A (2 holes) and Blue (2 holes) target areas.

Induced polarization surveys (9.6 kms) were conducted over the SGN, Blue, Moly, Tsacha, VF and Eye target zones (see http://www.troymet.com/i/maps/Key_Au-Zones.jpg). The strongest association of gold-in-soil and IP anomalies were identified at the Buzz, SGN and Blue target zones with the result that these were selected as priority targets for drill testing. The P1A target is a coincident gold-in-soil anomaly and VTEM anomaly on the north side of a strong IP anomaly. Active logging restricted access to certain other drill targets in the SGN, Blue and Moly zones.

The 8,854 hectare Key project is strategically located immediately adjacent to New Gold Inc.'s Blackwater gold deposit where a positive Preliminary Economic Assessment was announced on September 20, 2012.

Casselman Geological Services Ltd. provided technical management of the field program for the Company. Drill samples will be analyzed at ALS Chemex Labs Ltd. in Vancouver, BC, an ISO 9001:2000 accredited laboratory. Troymet maintains a QAQC program whereby standard samples and blanks are inserted into each batch of samples to ensure quality control. Results will be reported once all are received, interpreted and validated.

Kieran Downes, P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this release.

TROYMET EXPLORATION CORP.

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

Website: www.troymet.com

This press release may contain certain forward-looking information. In particular, this press release contains forward-looking information in respect of potential expenditures and a potential discovery on the McClarty Lake project. All statements included herein, other than statements of historical fact, are 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. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports or prior exploration results, that the results it has received and the interpretation thereof are reliable and future costs and expenses being based on historical costs and expenses, adjusted for inflation. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of the Company and its projects; general business, economic, competitive, political and social uncertainties; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting the Company; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. A description of other assumptions used to develop such forward-looking information and a description of other 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.

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