MONTREAL, QUEBEC — (Marketwire) — 01/07/13 — Adventure Gold Inc. (TSX VENTURE: AGE) („AGE“, the „Corporation“) announce that the National Instrument 43-101 technical report representing the qualifying report for the recently announced initial resource estimate for the Val-d-Or East project located in the Abitibi area, Quebec has now been filed on SEDAR and available on the company-s website. Here are some highlights of the study previously reported by the Corporation on November 21, 2012 along with a new estimation table for the total in-pit inferred resource with Whittle Pit Optimization (from surface to 250 metres). All details are included in the final report.
Qualified persons
The following people have reviewed this press release and approved the technical report and are deemed qualified persons under NI 43-101: Claude Duplessis, Eng. and Yann Camus, Eng., SGS Canada Inc.
Jules Riopel, P.Geo., Vice-President Exploration and Acquisitions, acting as the Company-s qualified person as defined by NI 43-101, has reviewed this press release and has supervised the exploration program on the Val-d-Or East project.
The Val-d-Or East Project
The Val-d-Or East project consists of the 100%-owned Pascalis-Colombiere, Senore and Beaufor North properties. With the Beaufor West and Pascalis Extension properties, Adventure Gold owns a total of 107 mining claims covering a surface area of 3,708 hectares in the area. From 1989 to 1993, the Pascalis-Colombiere property was the site of gold production at the L.C. Beliveau Mine, where Cambior Inc. (now IAMGOLD) mined the New Beliveau gold deposit. A total of 1.8 Mt of ore was extracted at a grade of 3.17 g/t Au, from the surface to 300 metres depth (total of 167,000 ounces of gold from the main diorite dyke, official production from Cambior postmortem report, Nov. 1996).
Profile
The Corporation is a mineral exploration company focused on discovering and developing high-quality gold deposits in the Abitibi region located in eastern Canada – one of the richest gold mines areas in the world. The Corporation has become, in a few years, an important player in the mining exploration industry with one of the best portfolio of exploration properties along the main gold-bearing structures of the Abitibi Greenstone Belt. The Company is exploring mainly close to gold mines where the mining production infrastructures are already existent, which distinguishes it from several other exploration companies. The Corporation-s exploration team are mining professionals having worked previously for well-established producing companies and understand the industry challenges. The Corporation owns 100% of the rights on its three main projects namely: Val-d-Or East, Detour Quebec and Casa-Cameron. The Val-d-Or East flagship project encompasses the Pascalis-Colombiere property where Cambior Inc. (now IAMGOLD) was producing gold between 1989 and 1993 at the Beliveau Mine. Close to the former mine, the Corporation recently discovered a significant new gold system and works actively in its development. As disclosed in its latest financial statements, the Corporation is well financed to apply its business plan.
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The foregoing information may contain forward-looking statements and events relating to the future performance of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company-s filings with the appropriate regulatory authorities. We seek safe harbour.
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: Adventure Gold Inc. Marco Gagnon President & CEO
450.743.5527
Adventure Gold Inc. Jules Riopel Vice-President Exploration and Acquisitions
819.797.9770
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