Reliant Announces Commencement of Drilling at its Borden Lake South Property
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 04/16/12 -- Reliant Gold Corp. ("Reliant" or the "Company") (TSX VENTURE: REC) is pleased to announce that Probe Mines Limited ("Probe") (TSX VENTURE: PRB) has commenced exploration on the Company's 100%-owned Borden Lake South Property (the "Property"), for which Probe has entered into an option agreement to acquire up to a 70% interest. The exploration program entails the diamond drill testing of favorable coincident ground IP and magnetic targets located in the north east part of the Property. The Property is comprised of 20 mining claims representing 294 claim units covering approximately 4,704 hectares and is located 10 kilometres east of the town of Chapleau in Northeastern Ontario and two kilometres south of Probe's Borden Lake gold discovery.
The exploration program will comprise approximately 1,500 metres of drilling and test up to 10 priority targets identified from the geophysical survey. The program represents the first drilling ever to be undertaken on this Property. The drill targets were selected from a larger group of anomalies, based on character and strength, and will test a significant section of the stratigraphy to the south of Probe's Borden Lake gold discovery. Surface prospecting suggests that the Property shares many geological similarities to the area hosting Probe's Borden Lake gold zone, and therefore has potential to host similar gold mineralization. Results from the current program will be used to develop further exploration programs on the Property.
Dr. Trevor Boyd, Ph.D., P.Geo., a Qualified Person as defined by National Instrument NI 43-101 ("NI 43-101") and Vice-President of Exploration for Reliant, has reviewed the technical information contained in this press release in compliance with NI 43-101.
ABOUT RELIANT
Reliant is a junior mineral exploration company with an experienced management team engaged in the acquisition, exploration and development of properties for the mining of precious and base metals and uranium. The Company holds: (i) an option to acquire a 100% interest in the MC Dalhousie Property located in northwestern British Columbia, Canada; (ii) an option to acquire a 100% interest in the North Nonacho Property in the vicinity of Nonacho Lake, Northwest Territories, Canada; and (iii) a 100% interest in the Borden Lake South Property, comprised of 20 mining claims representing 294 claim units covering approximately 4,704 hectares, located 10 kilometres east of town of Chapleau, Ontario. The common shares of Reliant trade on the TSX Venture Exchange under the stock symbol "REC".
FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Reliant or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of Reliant with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in Reliant's prospectus and in other continuous disclosure documents that will be filed by Reliant from time to time with the Ontario Securities Commissions which are available at and to which readers of this press release are referred for additional information concerning Reliant, its prospects and the risks and uncertainties relating to Reliant and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of Reliant to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Reliant cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.
The forward-looking information contained in this press release is current only as of the date hereof. Reliant does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
No securities commission or regulatory authority has approved or disapproved the contents of this press release.
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 release.
Contacts:
Andrew Hara (Harasimowicz), B.Sc. (Hon.), P.Eng.
President, Chief Executive Officer and Director
Reliant Gold Corp.
(905) 822-4078
(905) 822-8018 (FAX)
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Datum: 16.04.2012 - 13:14 Uhr
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News-ID 135251
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