Virgin Arm Gold Property, Newfoundland
CALGARY, Oct. 18, 2011 -
Manson Creek (TSX VENTURE:MCK) has reached an agreement with the Property Vendors to amend the Virgin Arm Option Agreement dated November 7, 2009. The November 30, 2011 deadline for the property payment of $35,000 will be extended to May 30, 2012. This will allow the Company additional time to evaluate data from the recent diamond drill program including the imminent metallic screen analysis. The timing of all other future option payments due pursuant to this agreement will remain the same.
Gold has been identified in a mineralized corridor of 4.2 kilometers by up to 800 meters on the Virgin Arm property as defined by trenching and diamond drilling. The Virgin Arm gold property is an excellent target for significant new gold resources with high grade gold values to 10.07 g/t found within zones of lower grade gold mineralization. The Company has demonstrated that a widespread, previously unrecognized, gold system is present at the Virgin Arm property and that there is potential for the discovery of a large, bulk tonnage style gold mineralized system.
Warrants
TSX Venture Exchange approval has been received to extend the expiry date of 5,833,333 Warrants exercisable at $0.10 from November 24, 2011 to May 24, 2012.
Options
Manson Creek has granted Stock Options under its Stock Option Plan to a consultant to purchase up to 20,000 common shares until October 11, 2014, at an exercise price of $0.10 per share.
Regan Chernish, P. Geol.
President and Director
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Manson Creek's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Manson Creek. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Manson Creek's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Manson Creek's filings with the Canadian securities authorities. Accordingly, holders of Manson Creek shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Manson Creek disclaims any responsibility to update these forward-looking statements.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Contact Information
Manson Creek Resources Ltd.
Regan Chernish, President and Director
1.403.233.0464
www.manson.ca
