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October 23, 2014 --- Vol. 08, No. 43October 2014

British Columbia

POLYMETALLIC – Copper Fox Metals Inc. Oct 23 provided an update on the 2014 season for joint venture activities at its Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia. Copper Fox holds a 25 percent interest in the JV with Teck Resources Ltd. on the Schaft Creek project. Activity highlights include: optimization work focused on the Liard zone of the Schaft Creek deposit; metallurgical, pit slope design, geological modelling and environmental studies; a mapping and core re-logging program (16,867 meters) was completed to gain a better understanding of the geotechnical and geo-metallurgical aspects, focusing on the first 10-15 years of potential mine life. Field work at Schaft Creek located a potential new zone of copper-gold mineralization north of the Discovery zone. This zone covers an area that is 1,300 meters long by 800 meters wide. A review of the metallurgical test work on the Schaft Creek project indicates that additional variability testing is required. Geo-metallurgical modeling of the deposit is underway. Collection of additional metallurgical samples will be required. Resource modeling and a review of the precious metal content is underway. Efforts to reduce capital expenditures at Schaft Creek include a review of the location and size of the milling facility, tailing storage facility and camp facilities. These activities are all part of a high-level review. Copper Fox President Elmer Stewart said, “We are pleased with the progress of the joint venture at Schaft Creek. Some of the work currently underway is time consuming and detailed in nature. More time is required to complete this work, which may result in the need to collect additional information to finalize the optimization work. The advanced stage of the project and the decisions to be made require that the Joint Venture address key risks related to the Schaft Creek project. The location of a new zone of mineralization is encouraging and supports our interpretation of the potential to locate additional zones of mineralization north of the Discovery zone.”

GOLD/COPPER – SnipGold Corp. Oct. 22 reported initial results of the 2014 exploration programs completed on its properties in northwestern British Columbia. During 2014, exploration by SnipGold, Colorado Resources Ltd., and the British Columbia Geological Survey Branch was carried out on the Iskut and the KSP properties. SnipGold’s exploration program included: sampling at McFadden float zone; logging and sampling of historical drill hole SK89-700; and reconnaissance traverses and sampling in area of hydrothermal alteration adjacent a newly identified structural corridor. At McFadden, SnipGold collected 11 float samples, nine of which returned significant grades of gold and/or copper. M979014, the sample with the highest gold grades, returned 380 grams per metric ton gold, 59.4 g/t silver and 1.46 percent copper. M979114 returned 190.5 g/t gold, 52.8 g/t silver and 3.25 percent copper. Snip Gold says the 2014 field work indicates the McFadden mineralization is structurally controlled with the likely genesis similar to that of the Snip Mine mineralization, rather than a volcanogenic massive sulfide style deposit like Eskay Creek. This difference has important exploration implications. The company says the high-grade samples from McFadden display a consistent geological signature with the host rock being a light to medium gray conglomerate with well-rounded matrix-supported clasts. The matrix displays hornfels alteration; is strongly sheared; and has a moderately well-developed linear fabric. The matrix has also undergone considerable pyrite replacement. SnipGold said a mapping program and ground geophysical program planned for the coming season may delineate drill targets ready for testing as soon as the fall of 2015. BCGS geological mapping project on Iskut property outlined the Sky fault system, a new structural model for region. This structural feature is considered to play a significant role in the mineralizing events as well as post mineral displacement. SnipGold President and CEO John Zbeetnoff said, “I am very pleased with the quality of work done on both the Iskut and KSP properties this season. In particular the work done at McFadden this year has advanced our understanding of the target to the point where we could be in a position to drill test the exceptionally high grade mineralization by fall 2015. I also want to thank the BCGS for the contribution they have made in expanding the geological understanding in the area. Their identification of the Sky fault system, offers new insight into the structural controls on mineralization both regionally and locally.” The results from the rest of the 2014 programs at the Iskut and the KSP properties will be released and discussed over a series of news releases expected to be issued during the next several weeks.

GOLD – Pretium Resources Inc. Oct. 22 reported the remaining assay results from infill surface drilling in the Valley of the Kings targeting the deeper portion of the 2013 Mineral Resource estimate block model. Highlights from the drilling include: 13.81 grams per metric ton gold over 22.1 meters, including 1,085 g/t gold uncut over 0.50 meters, in hole SU-644-W1; and 125.35 g/t gold over 4.45 meters, including 1,620 g/t gold uncut over 0.50 meters and 2,930 g/t gold uncut over 0.50 meters, in hole SU-644-W2. These high gold grade intervals were intersected in wedge holes drilled downhole off drillhole SU-644 as part of a program of infill directional drilling in the western part of the Valley of the Kings, with offset holes drilled downhole from single surface drill holes. The program, which comprised 5,818 meters in three holes including 14 wedge holes, was successful in confirming the grade and continuity of indicated and inferred gold mineralization in an area defined by the 2013 Mineral Resource estimate block model. Pretium said the 2014 surface drill program also was successful in confirming the continuity of gold mineralization in the Valley of the Kings below the area defined by the 2013 mineral resource estimate with four deep drill holes comprising 3,507 meters. The 2014 surface drill program included an additional 2,679 meters in 25 drill holes of condemnation drilling for mine site infrastructure. Underground development has begun for an access ramp designed to reach the 1260-meter level for an underground infill drill program to support the Brucejack Project mine plan. Underground drilling from the 1260-meter level is expected to start in the first quarter of 2015.

COPPER-GOLD – Prosper Gold Corp. Oct. 22 reported final drill-hole results from its 2014 drill program on the Star porphyry copper-gold project located 103 kilometers (64 miles) west-southwest of Dease Lake, British Columbia. Among highlights of the drilling: 20 drill holes were completed on the Star discovery in 2014; an aggregate of 13,470 meters has been drilled from 2013-14 inclusive of historical drilling from 2004-7; DDH S049 confirms consistent high-grade mineralization from the surface to depth; grade increases in the core area of the discovery and mineralization remains open to extension laterally and to depth. Prosper President and CEO Pete Bernier commented, “We are pleased with the results of our 2014 drill program and the exploration potential of the remaining porphyry targets. The 2014 drill results have confirmed higher grade mineralization extends to the north. A 2015 grid drill program is proposed for this area.” Prosper also confirmed that it has now incurred sufficient exploration expenditures to meet the exploration requirements of a second option with Firesteel Resources, and subject to satisfying the remaining conditions for a 70 percent interest in the property.

ZINC/LEAD/SILVER – Canada Zinc Metals Corp. Oct. 20 reported assay results from the final two diamond drill holes of its 2014 exploration program on the Cardiac Creek sedex zinc-lead-silver deposit on the Akie property, located about 260 kilometers (161 miles) north-northwest of the town of Mackenzie, B. C. Canada Zinc completed eight HQ diamond drill holes on the Cardiac Creek deposit, totaling 2,855 meters. The drilling focused on targets along the up-dip, northwest and southeast areas of the deposit with the objective of expanding the boundary of the internal high grade core as well as expanding the overall perimeter of the deposit. Drill hole A-14-117 targeted the up-dip and southeast edge of the internal high grade core of the deposit with a pierce point located about 85 meters up-dip from hole A-14-116 and along strike of the high-grade hole A-11-96. The new drill hole returned 10.01 percent combined zinc and lead and 12.43 grams per metric ton silver over 5.3 meters (true width). An extensive package of mineralization representing the Cardiac Creek Zone was intersected from 327.83-369.49 meters with four distinct intervals of sulphide mineralization interbedded with minor shale and chert. The mineralized intervals consist of thickly bedded sulphides comprised of laminated pyrite, sphalerite with minor barite and galena. Towards the base of the zone the bedding becomes poorly defined and the sulphides become more mottled in appearance, a general indication of higher grade material. The zone is underlain by a thin pyritic sulphide bed and debris flow and limestone of the Paul River Formation. The hole was completed at a depth of 387.10 meters in calcareous siltstone of the Road River Group. Drill hole A-14-120 targeted the northwest edge of the deposit following up on the mineralization intersected in hole A-14-112 (which returned 6.91 percent zinc + lead and 8.02 g/t silver over a true width of 7.87 meters as reported Aug. 20, with a pierce point located about 100 meters down-dip. The proximal facies was intersected from 406.05 to 421.32 meters and was underlain by the Cardiac Creek Zone from 421.32 to 428.75 meters. The mineralization is represented by thickly bedded pyrite with minor nodular barite in the proximal facies grading to pyrite with bands of grey sphalerite and minor galena within the Cardiac Creek Zone. Intense localized quartz-carbonate veining is present along the upper and lower contacts of the mineralization suggesting that the bulk of the Cardiac Creek Zone has been displaced. Nearby down-dip drill holes A-07-46 and A-10-74 do not display this veining indicating that there does not appear to be any disruption to the Cardiac Creek Zone at depth. The zone is underlain by mineralization representative of the distal facies and the debris flow of the Paul River Formation. The hole was completed to a depth of 461.47 meters in calcareous siltstone of the Road River Group. The best intercept from the zone returned 4.59 percent combined zinc + lead and 6.90 g/t silver over a true width of 1.27 meters from a wider mineralized interval of 12.98 meters (true width) of combined 1.59 percent zinc + lead and 3.22 g/t silver. Canada Zinc President and CEO Peeyush Varshney commented, “We are pleased with the drill results from 2014. The extensive width of mineralization intersected in drill holes 116 and 117 speaks to the consistency of the deposit along its southeastern edge, while the results from hole 120 have pushed the known limits of the deposit to over 1,400 meters in strike length. In light of these results, we are already planning the 2015 drill program that will focus on the down-dip extension of the deposit and strike definition at lower elevations to the NW and SE. The deposit is still open down-dip and along strike, and we are already looking forward to getting back to drilling again to further advance the tremendous asset we have in hand.” Canada Zinc also said it continues to anticipate completing an airborne gravity survey on the Akie and Mt. Alcock properties in 2014. While there have been some delays due to contractor-related equipment issues, a start date was set for mid-October with an expected duration of about 10 days. The program is designed to delineate gravity anomalies within the highly prospective and conductive Gunsteel Formation shale and will complement the previously completed 2012 airborne VTEM survey. Coincident VTEM and gravity anomalies will be prioritized as drill targets for future exploration.


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