Manicouagan Earns 51% Interest in Trillium Pickle Lake Gold Properties
TRILLIUM NORTH MINERALS LTD 500 – 20 Maud St., TORONTO Ontario, CANADA M5V 2M5 Telephone: (416) 504-0077 Fax: (416) 504-6019 www.trilliumnorth.com
402 – 905 West Pender Street, VANCOUVER British Columbia, CANADA V6C 1L6 Telephone: (604) 681-1909 Fax: (604) 689-5930 TSX:V Symbol: TNM
April 15, 2010 NEWS RELEASE FOR IMMEDIATE RELEASE
MANICOUAGAN EARNS 51% INTEREST IN TRILLIUM PICKLE LAKE GOLD PROPERTIES
- PLANS TO INCREASE TO 70%
TORONTO- Trillium North Minerals Ltd. is pleased to announce Manicouagan Minerals Inc. has earned a 51 percent interest in the three Pickle Lake area gold properties that it has optioned from Trillium North Minerals and has advised Trillium North that it has elected to incur the next $1.5 million of exploration expenditures on the properties to increase its interest to 70 percent.
The optioned properties consist of three non contiguous claim groups known as the Pickle Lake East Property, the Kasagiminnis Property, and the Dorothy-Dobie Lake Property. Collectively the properties cover an area of approximately 77 square kilometres. The Pickle Lake East property covers the interpreted strike extension of the gold bearing structure that hosts the past producing Central Patricia and Pickle Crow Gold Mines. The Pickle Crow Mine is currently being explored by PC Gold Inc.
To earn its 51 percent interest in the three optioned properties Manicouagan incurred $1 million of exploration expenditures on the properties and made the underlying option payments totaling $90,000 to the underlying Vendor of the Kasagiminnis and the Dorothy-Dobie Lake properties. (For further details about the agreement with Trillium North see TNM Press Release dated April 16, 2009.)
Manicouagan is currently developing plans for additional exploration on these properties including drill testing targets recently identified on the Pickle Lake East Property.
Joseph Baylis, Manicouagan's President and CEO, said, "The Pickle Lake area is the focus of Manicouagan's exploration programs. These properties are a significant portion of our large and strategic land package in this increasingly active gold camp. We intend to aggressively explore our properties and reveal their potential."
The Pickle Lake Greenstone Belt, is part of the prolific Uchi Geological Sub-province which hosts the Pickle Lake, Red Lake and Rice Lake gold camps. Production to date, from these camps has amounted to over 25 million ounces of gold. The Pickle Lake Greenstone Belt includes four past producing mines: Pickle Crow (1,450,000 ounces grading 16.1 grams per tonne gold), Central Patricia (650,000 ounces grading 12.0 grams per tonne gold), Golden Patricia (450,000 ounces grading 19.9 grams per tonne gold) and Dona Lake (200,000 ounces grading 8.6 grams per tonne gold).
Manicouagan’s exploration programs in the Pickle Lake area are being carried out under the direct supervision of Bruce W. Mackie, P.Geo., a consulting geologist for Manicouagan Minerals. Bruce W. Mackie, P.Geo., has reviewed and verified the technical content of this press release on behalf of Manicouagan Minerals and is a "Qualified Person" as defined in National Instrument 43-101.
For more information, contact Dr. Elliot Strashin, President, at 416-504-0077 xt 22.
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Trillium North Minerals Ltd.’s results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Trillium North Minerals Ltd. disclaims any intent or obligation to update these forward-looking statements.
On behalf of the board of directors
“Elliot Strashin”
Dr. Elliot Strashin, President
The TSX Venture Exchange does not take responsibility for the adequacy or accuracy of this release.