MOSS LAKE – MATERIAL INCREASE IN MINERAL RESOURCES
TORONTO, ON – Moss Lake Gold Mines Ltd. (TSX-V: MOK) is pleased to announce a material increase in resource estimates at its 100%-owned Moss Lake gold deposit located 100 kilometres due west of Thunder Bay, Ontario. These results were generated from a comprehensive compilation and verification of a mountain of historic data and development of a new structure/alterationbased geological model by InnovExplo Inc., independent consulting geologists and engineers from Val d’Or, Quebec.
Highlights include:
• Indicated Resources of about 40 million tonnes at 1.1 gAu/tonne or about 1.4 million ounces
• Additional Inferred Resources of about 50 million tonnes at 1.1 gAu/tonne or about 1.7 million ounces
• Recognition of considerable potential to increase and upgrade resources through further drilling
George Mannard, President, stated “This detailed, diligent and thoughtful work has really opened our eyes. We are compelled to release these estimates immediately while we complete work on the Preliminary Economic Assessment (PEA) currently in progress. The PEA will follow shortly. This work will give our shareholders, directors and markets a conservative basis on which to value our assets.”
InnovExplo based their new interpretation on a rigorous compilation of historical data such as drill holes (surveys, lithologies, alteration, structure), underground historical workings, as well as structural and geological observations on the site and in the core. In addition, multiple drill holes collars and survey stations were found during the site visit which permitted corrections to the database. The underground ramp and drifts plans were also part of the process and were digitalized in the Gems project. The new geological model has demonstrated that the historical QES and Main Zones are, in fact, the continuity of the same mineralized system and mineralization occurs in between. The result is not only a significant increase in resources, but also an increase in the level of confidence in the geological and grade distribution continuities of the Moss Lake deposit.
Details of the work and its relevant assumptions are summarized in the following table and footnotes.
TECHNICAL DISCLOSURE
This Press Release has been prepared by George N. Mannard, P.Geo. and President of Moss Lake Gold Mines Ltd., in consultation and reviewed by independent consultants Carl Pelletier, P.Geo. and Pierre-Luc Richard, P.Geo. of InnovExplo Inc. Previous 43-101 compliant Technical Reports dated December 1, 2006, and August 30, 2010, by independent consultants Watts, Griffis and McOuat Ltd. are available for review at www.sedar.com or at mosslakegold.com. The new study will be filed within 45 days and will provide an analysis of previous work.
ABOUT MOSS LAKE GOLD MINES LTD.
Moss Lake Gold Mines Ltd. was created in 1994 to consolidate ownership of the Moss Lake gold deposit. It is a 57.6%-owned subsidiary of Wesdome Gold Mines Ltd. which currently owns and operates the Eagle River Gold Mine, the Mishi Gold Mine and the Kiena Gold Mine. Moss Lake trades on the TSX Venture Exchange under the symbol “MOK” and currently has 47 million common shares issued and outstanding.
