Central Resources Acquires Properties in White Gold District


Central Resources Corp. is pleased to announce that is has entered into an option agreement with Strategic Metals Ltd., (“Strategic Metals”) to purchase a 100% interest in six separate groups of mineral claims (the “Properties”) located within the White Gold District, Yukon.

The Properties consist of 522 mineral claims in six separate groups, all of which are located within the Dawson Range, in the west-central portion of the Yukon-Tanana terrane. This area is underlain predominantly by metasedimentary and metavolcanic rocks of inferred Devonian to Mississippian age, which are intruded by numerous Mesozoic granitic plutons hosting copper, molybdenum and gold mineralization.

The Properties were staked by Strategic Metals to cover areas of anomalous stream sediment and soil geochemical surveys. Kaminak Gold Corp. has had recent success drilling geochemical anomalies at their Coffee project, which is underlain by similar rocks of the same terrane. A map showing the property locations can be found on the Company’s website www.centralres.ca.

Option Terms

Under the terms of the option agreement, Central can earn a 100% interest in the Properties, subject to a 3% Net Smelter Royalty (“NSR”), by making staged payments to Strategic Metals of $300,000 cash and 3,000,000 shares by February 15, 2012, as described in the table below. Central has the right to purchase 1% of the NSR at any time for a cash payment of $1,000,000. A finder’s fee is payable to Axeman Resource Capital Inc., an exempt market dealer. The agreement is subject to acceptance by the TSX Venture Exchange.

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Detailed Option Terms
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Date Cash Payment Share Issuance
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Upon Exchange Acceptance $115,000 500,000
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February 15, 2011 $35,000 1,000,000
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February 15, 2012 $150,000 1,500,000
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Peter Thiersch, M.Sc., P.Geo., a “Qualified Person” as defined by National Instrument 43-101, has reviewed and approved the technical disclosure in this news release.

About Central Resources

Central Resources Corp., is a junior mineral exploration company created to leverage the extensive knowledge and expertise of an experienced team of financial and resource industry professionals.

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