CENTRAL RESOURCES ANNOUNCES POSITIVE RESULTS FROM PHASE 1 SOIL SAMPLING PROGRAM AT SELWYN CREEK PROJECT, YUKON


Central Resources Corp. has released results from an initial program of soil sampling at the company’s 522-claim (10,917 hectares) Selwyn Creek gold project in the White Gold area of central Yukon. Strongly anomalous results of up to 523 parts per billion gold and 283 parts per million arsenic were returned from 13 line kilometres of contour soil sampling in the West zone, and results of up to 470 ppb gold and 1,045 ppm arsenic were obtained from soil samples collected over a 900-metre-by-1,700-metre grid in the East zone of the L claim block. A map of the project area will be available on the company’s website shortly.

“We are very pleased that our first phase of soil sampling has confirmed earlier work and outlined several potentially significant gold and arsenic soil anomalies on the L claim block,” said Paul Reynolds, president and chief executive officer of Central Resources. “Obtaining results as high as 470 ppb gold in the East zone is particularly encouraging as this anomaly actually extends off the grid area, which we have now extended, and results are pending. In the West and Central zones, we also have broad arsenic anomalies in contour soils, which are intriguing and definitely warrant additional work.”

The Selwyn Creek gold project consists of six separate claim blocks (J, K, L, M, N and O) located in the Dawson range, generally above treeline, south of the Yukon River and centred on Selwyn Creek. The properties were staked on the basis of historic anomalous soil and sediment sampling conducted by Archer Cathro & Associates (1981) Limited in the mid 1980s. The results announced today are from the first follow-up sampling program conducted on the properties by Central Resources and incorporates the previous sample results.

Over 2,300 soil samples were collected from grids and contour lines covering the various claim groups, with the main focus on the largest (220 claims), the L block, which hosts the bulk (821) of the samples collected this year. On the L claim block, results for gold varied from detection limit to 523 ppb gold, with nine samples over 100 ppb gold and 24 samples over 50 ppb gold. Results for arsenic varied from one to 1,045 ppm arsenic, with 40 samples over 100 ppm arsenic and 137 samples over 50 ppm arsenic. Other claim blocks returned weakly to moderately anomalous values in arsenic and gold, which will need to be followed up with additional soil sampling.

In the East zone of the L claim block, samples were collected from a coarse 900-metre-by-1,700-metre grid of 50-metre-spaced stations on 200-metre-spaced lines in addition to samples collected from 50-metre stations on various contour lines. Sample results from the East zone have identified two greater-than-or-equal-to-20-part-per-billion-gold soil anomalies, each measuring roughly 500 m by 500 m. Within the easternmost anomaly, gold grades appear to be increasing to the north and east of the grid. The grid has therefore been expanded, additional soil samples have been collected, and these results are pending.

The West zone of the L claim block returned anomalous gold values of greater than or equal to 20 ppb outlining an area of roughly 400 m by 400 m, coincident with a somewhat broader greater-than-or-equal-to-50-part-per-million-arsenic anomaly. Farther to the west (and to the southeast in the Central zone), additional arsenic anomalies of greater than or equal to 24 ppm have been outlined by contour sampling over several line kilometres, with spikes of greater than or equal to 100 ppm arsenic at single-sample stations. This area warrants additional work, including prospecting and more detailed grid sampling.

Soil sample analyses were done at ALS Chemex in North Vancouver. The samples were initially analyzed for gold by fire assay followed by inductively coupled plasma-atomic emission spectroscopy (Au-ICP21) and 35 other elements by inductively coupled plasma-atomic emission spectroscopy (ME-ICP41).

Fieldwork was supervised by Heather Smith, PGeo, of Archer, Cathro, who is a qualified person under the definition of National Instrument 43-101. Ms. Smith is responsible for all aspects of the work including the quality control/quality assurance program. All samples were analyzed by ALS Chemex of North Vancouver, B.C. ALS Chemex is an International Organization for Standardization-accredited laboratory. Quality control is further assured by the use of international and in-house standards. Ms. Smith, PGeo, has reviewed and approved the technical disclosure in this news release.

Central has the right to earn a 100-per-cent interest in the properties from Strategic Metals Ltd. by making payments of $300,000 cash and three million shares by Feb. 15, 2012.

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