July 25, 2011
Exploration Commenced On The Bandito Rare Earth And Nickel Property
Endurance Gold Corporation (EDG -- TSX.V) is pleased to announce that an exploration team is now on-site and has commenced a geological and geochemical sampling program on the Bandito rare earth and nickel project. Multiple targets on the Bandito Property have grab samples that exceed 3% total rare earth oxides, up to 11% nickel, and 2.07% copper. Stream sediment sample anomalies indicate potential for the discovery of additional nickel, copper and gold mineralization.
The objective of the planned program is to advance several of the rare earth and nickel exploration targets to drill stage by the fall of 2011.
Highlights of the planned program include:
Highlights for the sixteen (16) rare earth, nickel, copper and gold targets are summarized in the Company press releases dated May 24, 2011 and June 14, 2011.
- Completion of a large five by three kilometer soil sampling grid that evaluates the area of known nickel and rare earth mineralization.
- Completion of a property scale mapping for geology and alteration.
- Completion of extensive reconnaissance and prospect scale rock sampling.
- All geological mapping, rock and soil sampling will be supported by portable XRF.
- Trenching and rock chip sampling of prioritized areas.
- Prospecting of the source area of 2010 stream sediments that were elevated in base metals and rare earth elements.
- Collection of a representative sample of the nickel-copper mineralization for testwork and petrography.
- All soil and rock samples will be analyzed for base metals and the rare-earth suite of elements. Selected suites will be analyzed for the precious metals.
Endurance has engaged Equity Exploration Consultants Ltd. (Equity) to manage the program. Equity is a private, Canadian company established in 1987, which is focused on providing high quality mineral exploration services. Equity's core strength is its full-time staff of 14 expert geologists and support team members, in addition to a wide network of associates fulfilling technical and logistical roles.
Under the terms of the agreement with True North Gems Inc. ("TGX"), Endurance can earn an initial 51% joint venture interest in the Bandito property by completing a total of C$125,000 in cash payments by December 31, 2012 and also completing C$1,000,000 in exploration expenditures by December 31, 2013. Once Endurance earns its 51% interest, it has a further option to acquire an additional 24% interest (total 75%) by issuing TGX 200,000 shares of Endurance and by completing an additional C$1,000,000 in exploration expenditures prior to December 31, 2015. Endurance has exceeded its 2010 work requirements.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, firstname.lastname@example.org
Grab samples are selective by nature and are unlikely to represent average grades on the property or within the target areas.
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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.
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