TORONTO, July 28, 2011 /PRNewswire/ - Bryn Resources Inc. (PINK: BRYN) (PINKSHEETS: BRYN.PK) is pleased to provide additional updates to its acquisition of an interest in a property in Renfew, Nova Scotia, Hants County District as disclosed in their Q3 quarterly filings. The acquisition consists of 62 mineral claims, each comprising 40 acres, for a total of 2,480 acres.
Bryn Resources Inc. is finalizing a consulting and ground assessment program with a very reputable and publicly listed company which will include an evaluation of the resource potential of these mineral claims.
Bryn Resources Inc. anticipates similar mineral characteristic as evidenced at our Wine Harbour property where claims have historically demonstrated, in the period between 1862 and 1939, a yield of 42,726 ounces of gold from 83,000 tons of ore, for an average content of 0.52 ounces per ton. At present Gold values this would have generated $68,000,000 subject to extraction cost.
As our corporate program is to progress to become a fully reporting company and increase transparency, we will continue to provide periodic updates on our progress with our current interests in Nova Scotia as well as any additional acquisitions.
About Bryn Resources Inc.
Bryn Resources is a precious metals exploration company currently concentrating its efforts in Eastern Canada region holding 100% interest in Renfrew Nova Scotia that comprises of 62 Claims covering 2,480 acres, and 100% interest in Wine Harbour, Nova Scotia with rights to 53 mineral claims for a total of 2,100 acres. These claims have historically demonstrated their mineralization and in the period between 1862 and 1939 yielded 42,726 ounces of gold from 83,000 tons of ore, for an average content of 0.52 ounces per ton. Bryn Resources Inc. continues to seek partnerships in proven mineralization which are close to the production phase.
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Bryn Resources Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
SOURCE Bryn Resources