Rotation Minerals Ltd. Announces the Purchase of an 80 % Interest in the Former Scottie Gold Mine
611 8th Street Stewart BC V0T 1W0
ROTATION MINERALS LTD. ANNOUNCES THE PURCHASE OF AN 80 % INTEREST IN THE FORMER SCOTTIE GOLD MINE
October 1, 2011 TSXV - ROT
STEWART, BC. Rotation Minerals Ltd. (the "Company") announces that it has entered into an agreement to purchase an 80 % interest in the former Scottie Gold mine. The property contains a total of 677.55 ha within 28 units in 3 located claims and 14 Crown Granted Claims located at the headwater of Salmon River. Access to the property is by gravel road from Stewart, B.C., 50 km to the south. This mine which operated from 1981 to 1985 milled vein material averaging 16.20 g/t gold, producing 2,967,748 grams of gold (95,426 ounces gold) from 183,147 tonnes of mineralization.
Banded quartz-carbonate veins mineralized with gold-bearing pyrrhotite, pyrite, chalcopyrite, galena and sphalerite occur as en echelon fracture fillings in an east-west direction. To date, four separate vein zones labeled the ‘L”, “M”, “N” and “O” zones have been partially explored by drilling and underground development. These four zones have been the source of the gold produced during the milling operation.
After the closing of the mine operation, Wright Engineers prepared a report dated July,1985 that indicated diluted mineral reserves in the Proven, Probable and Possible categories (now known as measured, indicated and inferred in 43-101 classifications) within the 4 zones as 120,279 tonnes grading 19.31 g/t gold for a total of 74,333 ounces. Wright Engineers used the information supplied by the Scottie Gold mine engineers and did not independently confirm these reserves. The report by Wright Engineer’s relied on diamond drill hole and underground sampling results completed by Scottie Gold Mines. In the period 2004 to 2006, further drilling by Tenajon Resource Corp lead to a resource calculation by Giroux Consultants Ltd. This later resource was calculated in a private report for Tenajon in October 2007 using 2004 to 2006 drilling by Tenajon, the previous drilling by Scottie Gold Mines and underground sampling. Results of this calculation is outlined below:
Resource for Scottie Gold Property
Veins Category Tonnes Grade Au Grade Ounces Ounces g/t Ag g/t Gold Silver
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| L,M,N and O | Indicated | 20,100 | 9.91 | 4.32 | 6,400 | 2,800 |
| L,M,N and O | Inferred | 203,000 | 8.40 | 4.25 | 54,800 | 27,800 |
| Bend | Inferred | 18,500 | 10.87 | 29.25 | 6,470 | 17,400 |
The above resources have not been verified by the Company and are not considered 43-101 compliant as they are not compliant with present standards of reporting. These estimates are historical and are used for reference purposes only. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources. The Company is not treating the historical estimate as current mineral resources. The Company has examined all the historical drill data, sampling plans and production records and believes that the historical estimates are relevant. The Company will need to complete drill holes to verify the historical reserves in order to upgrade the estimates to make them compliant with 43-101 standards.
Past exploration has shown the property to host at least thirteen zones of gold bearing quartz-carbonate sulphide (pyrite-pyrrhotite +/- chalcopyrite +/- galena+/- sphalerite) veining. The veins appear to be localized along complex, sub parallel shear or fracture zones related to the emplacement of the Summit Lake Pluton.
The Company is purchasing the interest in the mineral property from Red Eye Resources Ltd, a private company for $500,000 as follows:
a) $20,000.00 upon signing of the agreement,
b) $480,000.00 within 1 year of signing of the agreement,
c) 3 % NSR with a buyout on 2 % for $600,000.00 to the original vendors that Red Eye purchased its interest from.
Ed. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of exploration on behalf of the Company and is responsible for the accuracy of the technical data and information contained in this press release. The QP has verified the data disclosed on mineralization through the 2012 observation of surface exposures and examination of the underground workings. The QP has examined mineralization in the Bend vein and Blueberry vein on surface exposures and the “M” vein in underground workings. The information on the resource calculations were obtained from a 1985 report by Wright Engineers and a pdf report prepared in 2007 by Giroux Consultants on behalf of Tenajon Resource Corp. The QP has not verified the mineral resources.
The Company is presently preparing a website, when completed information will be posted.
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About Rotation Minerals Ltd.
The Company’s main asset is the option on the 4-J property in the Stewart area of BC.
For further information, please contact Ed Kruchkowski at 250-636-9232.
ON BEHALF OF THE BOARD
“Ed Kruchkowski”
President and Director
“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.”
“This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.”