Guinness Exploration Provides Nantawa Project Update
WELLINGTON, New Zealand, Feb. 8 /PRNewswire-FirstCall/ -- Guinness Exploration Inc. ('Guinness') (OTC Bulletin Board: GNXP) reported today results from initial geological analysis and project planning performed in conjunction with Coast Mountain Geological Alaska LLC ("Coast Mountain").
Guinness' Chief Geologist John Hiner said: "Coast Mountain personnel have digitized and entered a huge amount of pre-existing geological data into a GIS database and produced several surface geochemistry maps based on this data that show a large copper anomaly near and over the intrusive to the north end of the Nansen block, and displays of gold anomalies. Several gold-anomalous areas not previously investigated may be worthy of follow-up. At this early stage, what this means is that we may have established a porphyry copper target, as well as some potential gold targets."
Mr. Hiner continued: "Coast Mountain has also contacted an established site operator who has agreed to set up and manage a camp for us. Additionally, we're making arrangements with a well-established Yukon equipment operator to supply us with equipment and operators for the entire season. Our planning process is now fully underway and we expect to report further developments soon."
About Guinness Exploration
Guinness Exploration Inc. trades on the OTC-BB under the symbol GNXP. The Company was incorporated in Nevada in 2006 and incorporated its subsidiary Nantawa Resources Inc. in Yukon, Canada in 2009. In November, 2009 Guinness entered an agreement to acquire mineral claims for the Mount Nansen and the Tawa gold and silver exploration properties (collectively the 'Nantawa Project') in the Yukon and is now developing an exploration program. The Nantawa Project is situated in the prolific Tintina Gold Belt, a 1,200 km long area extending from northern British Columbia, through the Yukon Territory and into southwest Alaska. The Tintina Gold Belt includes such world-class, multi-million ounce gold deposits as Pogo, Fort Knox, True North, and Donlin Creek. The Nantawa Project claims consist of 203 full or fractional claims with a total area of 3,136.43 square hectares located in the South Central part of the Yukon, 180 km Northwest of Whitehorse and 60 km west of the Village of Carmacks. A complete independent geological report received by Guinness, dated November 27, 2009, can be viewed on Guinness' website: www.guinnessexploration.com.
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Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements." All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue," "budget," "may," "intend," "estimate," "project" and similar expressions identify forward-looking statements. In this press release, the expressions: "Several areas not previously investigated may be worthy of follow-up. At this early stage, what this means is that we may have established a porphyry copper target, as well as some potential gold targets." and "Coast Mountain has also contacted an established site operator who have agreed to set up and manage a camp for us. Additionally, we're making arrangements with a well-established Yukon equipment operator to supply us with equipment and operators for the entire season. Our planning process is now fully underway and we expect to report further developments soon." are forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to mining operations, changes in the worldwide price of gold, silver, or certain other commodities; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; employee relations; contests over title to properties; and the risks involved in the exploration, development and mining business. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE Guinness Exploration Inc.
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