VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 06/12/12 — Golden Reign Resources Ltd. (the „Company“ or „Golden Reign“) (TSX VENTURE: GRR) is very pleased to report results from its on-going 2012 trenching program in the Las Conchitas area of its San Albino-Murra Gold Property (the „Property“), Nicaragua.
The California Vein-Las Dolores Mine area is the first of three highly prospective areas located in the southwest corner of the flagship Property to be tested by trenching (see attached map, ). Two near-surface high-grade vein prospects -California and Las Dolores – were tested to a depth of approximately 1.5 metres. Highlights from trenching include:
This zone now has a strike length of 750 metres and remains open in both directions and at depth. It extends southwest onto Golden Reign-s recently acquired El Jicaro Concession.
California and Las Dolores represent the extension of structures first identified by trenching in 2011 and further outlined by a 2012 sampling program (see news releases dated October 6, 2011 and March 21, 2012). Highlights from prior trenching and sampling (see attached map) include:
California and Las Dolores are only two of twenty-nine high priority targets the Company plans to test in 2012, initially by trenching and subsequently by diamond drill. All targets are hosted within the Corona de Oro Gold Belt, which spans the Company-s 138 square kilometre land package and is approximately 3 kilometres wide by 25 kilometres long.
Las Conchitas is located approximately 3 kilometres south of the San Albino Mine area, where the Company currently has three drill rigs in operation and is working towards its maiden resource calculation.
Detailed results from trenching at the California Vein-Las Dolores Mine area follow:
The trenches were all excavated perpendicular to the strike of the veins. After the trench has been completed, the floor of each trench is washed, swept clean and sampled. The trench is then mapped geologically to determine the strike, dip and thickness of the quartz veins. A rock saw was used to cut a 5cm by 5 cm groove in the vein to get a consistent sized sample of vein material. While in the schist, a saw was not required as the rock is soft and easily sampled. Unless previously stated, all samples were taken, continuously along the floor of the trench across the strike of the veins. The veins all appear to be dipping steeply and sampling is believed to be representative of the true thickness of the veins.
Qualified Person
John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release.
On behalf of the Board,
Kim Evans, CGA, President & CEO
About Golden Reign:
Golden Reign Resources Ltd. is a publicly listed (TSX VENTURE: GRR) mineral exploration company engaged in exploring the San Albino-Murra Property and the El Jicaro Property, both of which are located in Nueva Segovia, Nicaragua. The Company recently earned an 80% interest in the San Albino-Murra Property, approximately 1.5 years ahead of schedule. The El Jicaro Property is 100% owned by Golden Reign.
The Company-s land package comprises 13,771 hectares (138 km2) of highly prospective ground. Hundreds of historical mines and workings exist within the Corona de Oro Gold Belt, which is approximately 3 kilometres wide by 20 kilometres long and spans the entirety of the Company-s land package.
Nicaragua, a mining-friendly jurisdiction, is situated in the Central American Gold Belt, which extends from Costa Rica in the south to Guatemala in the north. Within this prolific gold belt, estimates of historical production total more than 20 million ounces.
For additional information please visit our website at and SEDAR .
Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company-s exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management-s best judgment as of the date hereof, based on information currently available.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contacts: Golden Reign Resources Ltd. Kim Evans, CGA President & CEO (604) 685-4655 or Toll Free: 1-888-685-4655 (604) 685-4675 (FAX)
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