Wabi Exploration Inc.

September 14, 2011 15:26 ET

Wabi Exploration Confirms Presence of High Grade Gold at Elbow Lake, Eastern Manitoba, Completes First Phase of Field Work

TORONTO, ONTARIO--(Marketwire - Sept. 14, 2011) - Wabi Exploration Inc. ("Wabi") (CNSX:WAB) is pleased to announce results of recent field work from the Elbow Lake Project. Preliminary chip and grab sampling of historic gold showings has resulted in assays as high as 33.7 g/t Au over 0.2m. A table of all significant results is presented below.

Where possible, samples were taken from outcrop or from historic exploration workings sites. A VLF survey conducted over one portion of the property has identified a number of conductors that require follow-up prospecting. The next phase of work will consist of 3-D induced polarization surveys over areas of known gold mineralization that have never been tested at depth with the goal of identifying both high-grade quartz vein hosted and low-grade bulk tonnage gold deposits.

Sample Easting Northing Sample Type Au (g/t)
L450002 377296 6080593 Excavated rock directly adjacent to historic prospect pit 1.03
L450003 377296 6080593 Excavated rock directly adjacent to historic prospect pit 1.23
L450004 377296 6080593 Grab - outcrop in historic prospect pit 0.99
L450005 377296 6080593 Grab - outcrop in historic prospect pit 16.73
L450007 377293 6080585 Grab 0.12
L450011 375875 6080635 Excavated rock adjacent to historic prospect shaft 13.47
L450012 375693 6080638 Grab 0.17
L450013 375677 6080585 Chip sample (0.2 m width) 33.7
L450014 375677 6080610 Excavated rock directly adjacent to historic prospect pit 19.3
L450015 375705 6080693 Chip sample (1.5m width) 0.19
L450016 375703 6080712 Excavated rock directly adjacent to historic prospect pit 4.46
L450017 375456 6080818 Excavated rock adjacent to historic mine prospect 4.63
All UTM coordinates in NAD 83, Zone 14U

Phase one results confirm the presence of a mineralizing system that is both exceptionally gold- rich and widespread with gold occurrences on the property defining a trend of several kilometres in length. We have only begun to scratch the surface of this property and further exploration will concentrate on utilizing modern techniques to hopefully make discoveries.

Warren Hawkins, P.Eng in his capacity as Qualified Person under National Instrument 43-101 has reviewed the contents of this news release.

Wabi is pleased to announce the completion of its new corporate website at http://www.wabiexploration.com

Please visit the website for more information on the company and the Elbow Lake –Manitoba Project.

About Wabi Exploration

Wabi Exploration Inc. is a junior mineral exploration company focused on discovering gold in stable jurisdictions. The company owns a 100% interest in the Elbow Lake Property, a 26 square km grassroots exploration property with multiple often high-grade gold occurrences, many of which have never been tested at significant depth. The property has never been subjected to modern exploration techniques.

This news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Shares Outstanding: 18,833,699

Contact Information

  • Wabi Exploration Inc.
    Galen McNamara
    President and CEO
    (647) 463-0962