|December 02, 2010|
Minaurum Gold to Perform Airborne Geophysical Surveys of Mexican Projects and Provides Update on Recent Acquisitions
|Minaurum Gold Inc. (the "Company" or "Minaurum") announces that it has engaged Geotech Ltd. of Ontario, Canada to fly VTEM airborne geophysical surveys over its 100% controlled Aurena, Adelita, Vuelcos del Destino, Jackie, El Pórfido, and Santa Marta Properties. The surveys are expected to significantly advance geological understanding and drill targeting, and are scheduled to be completed by early 2011.|
Aurena Gold-Skarn Project (Southern Oaxaca): A gold-in-soil and rocks anomaly measuring 1,000 metres east-west by 100 to 400 metres north-south has been delineated by work in a limited outcrop area. The anomaly area includes four outcrop samples assaying more than 5 g/t Au and seven soil samples carrying over 1 g/t Au (See Press Release of October 19, 2010). The VTEM geophysical survey may reveal potential extensions of surface mineralization is expected to expand this anomaly under flanking cover, yielding additional targets for drilling in early 2011.
Adelita Skarn/Porphyry Project (Southern Sonora): Strong copper-silver-gold skarn mineralization was cut in several holes in Minaurum's recently completed 1,819-m drilling program here (See Press Release dated October 6, 2010). Concurrent geologic mapping and sampling revealed an adjacent 500 m by 2000 m copper and molybdenum rock-chip-soil sample anomaly; the combined results indicate that a significant copper-molybdenum porphyry system is present. The VTEM survey is expected to help define mineralized and altered intrusive bodies through cover and give clues to the full dimensions of the system.
Vuelcos del Destino, Jackie, El Pórfido and Corazonada Gold-Silver Skarn Projects (Guerrero and Puebla): These four 100% owned projects are well located in and around the Guerrero Gold Belt of southern Mexico where over 11 million ounces of gold have been recently discovered. Minaurum has acquired these projects from the explorers responsible for finding the most important mine in the belt: Goldcorp's Los Filos Mine. Guerrero Gold Belt deposits are related to porphyry intrusions with strong and distinctive geophysical signatures that should respond well to the VTEM technique. Corazonada has already been flown with a similar survey and shows prominent anomalies of the style expected for the other three systems. Terms are very similar for all 4 propertites: Staged payments totaling US$350,000 and 850,000 common shares over three years, a payment of 1 million shares or US$5 million upon production and a vendor retained 2% NSR per project. Corazonada has an additional payment of US$50,000 or 50,000 shares due upon receipt of drill permits).
Santa Marta Project (Southeastern Oaxaca): Extensive outcrops of copper-gold mineralization hosted in Mesozoic metavolcanic rocks indicate the presence of a metamorphosed volcanogenic massive sulfide (VMS) system. Controlling structures and covered conductive and/or magnetic bodies should respond to the VTEM technique. Minaurum can acquire a 100% interest by making payments totaling US$150,000, 1,075,000 shares, incur a total of US$2.5 million in exploration expenditures over five years, a payment of 1 million shares or US$5 million upon production and a vendor retained 3% NSR of which 2% can be repurchased by Minaurum for US$1 million.
About VTEM: VTEM is low altitude, helicopter-borne high-resolution magnetic and time-domain electromagnetic survey, which can map geological features through their magnetic and electrical responses. Each of these projects has mineralization related to intrusive rocks, structures, and alteration that are expected to respond well to this technique.
Qualified Person: Mr Stephen R Maynard, M.S., C.P.G., has acted as the qualified person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
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.
1500 - 409 Granville St.
Vancouver, BC V6C 1T2
Telephone 778 330-0994
Forward Looking Statement: Some of the statements contained in this press release are forward-looking statements. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control, including, but not exclusively, statements regarding potential mineralization, exploration results, completion of work program and studies, and future plans and objectives of the Company. Resource exploration, development and operations are highly speculative, characterized by a number of significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate, including, among other things, unprofitable efforts resulting not only from the failure to discover mineral resources but from finding mineral deposits which, though present, are insufficient in quantity and quality to return a profit from production.
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