Creso Exploration Commences Drill Program on Ontario Properties
MONTREAL, QUEBEC -- (Marketwire) -- 10/18/11 -- Creso Exploration Inc. ('Creso' or the 'Company') (TSX VENTURE: CXT)(OTCQX: CRXEF)(FRANKFURT: C3X) is pleased to announce that it has signed a contract to initiate a 2,000-meter drilling contract to test near-surface anomalies that have the same geophysical characteristics as the Tyranite, Duggan, and Minto gold occurrences as recommended by Insight Geophysics Inc., subsequent to ground geophysical surveys conducted on these three properties.(http://creso.ca/?page_id=128). The program will begin today at the Tyranite mine where 10 near-surface targets will be tested in a Southwest direction; the program will be then followed-up by 5 drill holes on the Minto property and 5 drill holes on the Duggan property.
The Company will also proceed to drill the Mann property to confirm historical results of hole #67-60 that reported 520 oz/t Ag over a width of 2.9 feet at a depth of 12 meters from surface and test the extension of the D Zone both laterally and at depths below 39 meters where values of 6,309 oz/t Ag over 2.0 feet were reported at the end of an inclined ramp. The property has five shafts, the deepest of which (No. 3) is 200 vertical feet and a ramp was also driven to the 210-foot level (Reference: Report from L.J. Cunningham (Manridge Explorations Limited), 14 May 1987: (http://www.creso.ca/tl_files/Docs_Reports/Manridge_report.pdf).
In light of recent work and budget prioritizations, it was decided to return the two Hare Lake, as well as the Indian Lake option properties, to their respective underlying owners.
This Press Release has been reviewed and approved by Mr. Mike White, M. Sc, P. Geo. the Qualified Person under National Instrument 43-101.
About Creso
The Corporation's principal mining exploration holdings are located in the Shining Tree mining camp of Northern Ontario within 100 km of the Timmins and Kirkland Lake mining camps, and additional interests are held in base metal properties in Guatemala.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward- looking statements as a result of numerous factors, some of which may be beyond the Corporation's control. These factors include: results of exploration activities, general market and industry conditions, and other risks disclosed in the Corporation's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Corporation's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Depending on exploration results and available financing, the Corporation may at any point modify the work program for 2011.
Neither 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.
Contacts:
Robert Casaceli
President and CEO
(514) 866-6001 # 239
(514) 866-6193 (FAX)
info@creso.ca
www.creso.ca
Douglas Murray
Investor Relations
(613) 220-0569 / (613) 882-7295
dmurray@creso.ca
www.creso.ca
