Troymet Exploration Corp.
TSX VENTURE : TYE

Troymet Exploration Corp.

July 24, 2012 08:00 ET

Troymet Updates Progress and Expands Program at Key Gold Project

COMOX, BRITISH COLUMBIA--(Marketwire - July 24, 2012) - Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the "Company") is pleased to update exploration progress on its 100% owned flagship Key project in British Columbia, where a planned $1 million exploration program, including diamond drilling, is underway. Detailed soil sampling of the principal gold-in-soil anomalous zones has been completed and assays are pending. Prospecting and sampling is continuing to complete coverage over the numerous target areas. Outcrop exposure on the property is sparse, hence overburden trenching is planned and induced polarization ("IP") grids are also being established over the target zones. The trenching and IP surveys are designed to refine new diamond drill targets. For additional information please visit www.troymet.com/s/Key.asp.

Troymet is also pleased to report that its mapping, prospecting and sampling program is being expanded as a consequence of new logging on the property by Canfor. Canfor recently started logging in several areas (approximately 1,300 hectares) that overlap, in part, the:

  • East Fault, GN Fault and Valley Fault
  • GN Lake West zone, Mt. Tsacha zone, East Fault zone and Blue Road zone

The Company anticipates that significant new exposures will be created by the logging and new mineralized zones may be exposed. In addition, the logging program will create multiple new access routes to the various target zones and this will facilitate easy access for diamond drilling.

The Key project (8,854 ha) has significant discovery potential and is road accessible. It is strategically located adjacent to New Gold Inc.'s Blackwater gold deposit where an updated National Instrument 43-101 compliant mineral resource estimate was recently announced (New Gold news release of July 18, 2012):

  • Indicated mineral resource: 230 million tonnes at an average grade of 0.96 grams gold per tonne containing 7.1 million ounces of gold at a 0.40 gold-equivalent gram per tonne cut-off grade
  • Inferred mineral resource: 98 million tonnes at an average grade of 0.77 grams gold per tonne containing 2.5 million ounces of gold at a 0.40 gold-equivalent gram per tonne cut-off grade

Kieran Downes, P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the contents of 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.

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