VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 12/06/12 — Archean Star Resources Inc. („Archean“ or the „Company“) (TSX VENTURE: ASP) reports that it has received High Grade copper and gold assay results from samples taken at the historic Monitor Mine, located approximately 30 km (17 mi) ESE from the town of Wallace, Idaho, in the historic and highly prolific Coeur D-Alene Mining District.
The Company has engaged Dr. G. E. Ray, P. Geol., to conduct a National Instrument NI-43-101-Compliant Report on the Monitor Property. During a property visit to the Monitor as part of the NI-43-101 Technical Report preparation, fifteen mineralized samples were taken by Dr. Ray at random locations from the historic (1910) mine waste dumps. Two samples were taken from the Upper Richmond shaft waste dump, eight samples from the Monitor shaft waste dump, and five samples from the Richmond adit portal waste dump.
The most significant sample assay reported was 13.55% Cu, with two samples assaying over 7% Cu, and two samples containing over 5% Cu. Of the fifteen samples, only two assayed less than 1% Cu. The highest gold assays reported were 15.45 g/t Au, 9.67 g/t Au and 3.83 g/t Au from three samples taken from near the Monitor shaft location. Anomalous gold and silver values were also reported in fourteen of the fifteen samples taken with one sample assaying 57.70 g/t silver. These assay results confirm the presence of high-grade copper-gold mineralization at the Monitor. The complete assay information from all the samples assayed are tabulated below.
Subsequent to completing the sampling program, the Company commenced clearing and making safe the portal to the Monitor adit, that is approximately 1,700 feet lower in elevation than the Monitor shaft collar at 5,820 feet elevation. This was done in order to commence an underground mapping and sampling program of the adit. In a historic report published by the Montana Idaho Copper Company titled: „To the Monitor Vein“, it is stated that up to the late 1920s, 25 men worked on developing the 10 foot wide and 10 foot high adit. About 3,865 feet in from the adit portal a copper-gold bearing siderite vein between 10 to 30 feet wide was reportedly intersected.(i)
Historic production records from past underground exploration and development work at the Monitor Mine reported that 1,561 tons were shipped to the Tacoma smelter in the early 1900-s with average reported smelter returns of 14.92% copper, (298.3 lb/ton), 23.6 g/t silver (0.76 opt Ag) and 7.7 g/t Au (0.24 opt/Au).(i)
(i) The Company advises that historic information presented is not NI-43-101-Compliant and a Qualified Person has not done sufficient work to confirm the historic information thus it should not be relied upon.
Archean Star Resources Inc. is a junior exploration company that, through its wholly owned subsidiary, Archean Star Resources Australia Pty Ltd, has entered into an Option Agreement, subject to a 75% back in right, to earn 100% of Teck Australia Pty Ltd-s interest in Chalice Gold Mines Limited-s Gnaweeda Gold Project in West Australia. Kent Exploration Inc. (TSX VENTURE: KEX) holds approximately 10,000,000 shares, or 18% of the outstanding common shares. The Company has entered into a binding letter agreement to enter into an Option Agreement to earn an 80% interest in the Monitor/Richmond Copper/Gold property in the Coeur D-Alene Mining District by spending $2,100,000 and issuing 3 million common shares of the Company over a three year period.
This News Release has been prepared on behalf of the Archean Star Resources Inc. Board of Directors, which accepts full responsibility for its contents. The contents of this news release have been reviewed and approved by Dr. Clay Conway, P. Geol., a Qualified Person as defined by National Instrument NI-43-101 and a director of the Company.
ON BEHALF OF THE BOARD
Graeme O-Neill, President
Neither the TSX Venture Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), has reviewed, nor do they accept responsibility for, the adequacy or accuracy of this news release.
Contacts: Archean Star Resources Inc. Graeme O-Neill President (604) 684-3394 (888) 282-7763 (FAX)
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