Geonovus Expands Mink Lake Gold Project, Ontario
Suite 1220, 789 West Pender St. Vancouver, British Columbia Phone: 604-683-3995/ Toll Free: 888-945-4770/Fax: 604-683-3988
GEONOVUS EXPANDS MINK LAKE GOLD PROJECT, ONTARIO
June 14th, 2013 VANCOUVER, B.C. – GEONOVUS MINERALS CORP. (TSX- V:GNM) (“GeoNovus” or the “Company”) has acquired additional claims at their Mink Lake Gold Project, located approximately five kilometers northeast of the town of Wawa, Ontario. Seven unpatented mining claims (43 units) have been added to the previously acquired claims, which make the Mink Lake Property contiguous. The Company’s land position has increased from 23 hectares to 711 hectares, and encompasses historic drilling data as well as several historic gold showings.
The Mink Lake Project is situated within the Michipocoten Greenstone Belt, in a broad corridor of structurally deformed rocks that host a high frequency of gold occurrences as well as past producers. The Mink Lake area was initially explored in the 1930’s, where a zone of gold mineralization was discovered within an arsenopyrite-pyrite iron formation. A shallow drill campaign conducted in 1936 reported four holes with the following gold intersections: 3.12 g/t over 8.5 m, 29.65 g/t over 2.2 m, 3.43g/t over 4.6 m and 5.61 g/t over 1.5 m (H.P. Hutteri, 2004. Exploration Report on the Mink Lake Gold Property, Chabanel Township, Sault Ste. Marie Mining Division, Ontario, Rept. #2.28551, 16p.). In 1986, Noranda Exploration carried out a diamond drilling program of fourteen holes that confirmed the earlier results, including an intercept of 6.5 g/ton gold over three meters (D.Parker, 1987. Report on Diamond Drilling Program, Hydro Home Appliance Option, Project No. 1136, Hemlo, Ontario, 27p.).
More recently, several gold showings were noted on the property. A 1.32 g/t Au anomaly occurs one kilometer north of the Noranda drilling. A second showing with 0.29 ppm g/t Au occurs 1.5 km west of the drilling. A third showing 2.5 km southwest of the drilling returned 3.29 g/t Au, as well as 161 g/t Ag and 25% Zn. As the exploration at the time was focused on diamonds, these showings were never followed up (M. Lennox-King, 2000, Exploration report Wawa diamond project, Chabanel and Lendrum Townships, Sault Ste. Marie Mining Division, Ontario, Rept .#2.20579, 31p.).
To complete the acquisition of the claims, GeoNovus will issue an aggregate total of 2.1 million shares, pay $50,000 plus incur $700,000 expenditures over a period of 3 years. The Company will also grant a 2% NSR to the vendors, of which the Company can purchase back 1% for $2 million.
The technical contents of this release were approved by Dr. Tom E. McCandless, P. Geo., Technical Advisor to GeoNovus Minerals and qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43- 101 report, and Dr. McCandless has not verified the technical data disclosed in this release
GeoNovus Minerals Corp. is a junior exploration company actively seeking mineral opportunities for the benefit of all of its stakeholders.
ON BEHALF OF THE BOARD
Signed “Michael England”
Michael England, President FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995; Toll Free: 1-888-945-4770; Facsimile: 1-604-683-3988, www.geonovusminerals.com
Forward-Looking Statement:
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of GeoNovus Minerals Inc. Actual results may differ materially from those currently anticipated in such statements. 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.