(Vancouver, February 7, 2012): Mineral Mountain Resources Ltd. (“Mineral Mountain” or the “Company”) (TSXV: “MMV”) (OTCQX: “MNRLF”) is pleased to provide final diamond drill hole assay results from the 2011 exploration drilling campaign on its100% owned Pipestone Project located 50 kilometers north of Fort Frances, Ontario.
2011 Exploratory Drilling Results
Final diamond drilling assay results have been received for a total of 21 drill holes from the Pine Centre and Pine East Areas. These holes were exploratory in nature and designed to test historical gold showings in the Lawrence Lake Granitoid Batholith. Weak gold values over narrow widths were intersected and are highlighted in Table 1. A plan map illustrating the locations of the drill holes is available on the Company website at www.mineralmtn.com.
The drilling program was designed to test regional historical gold showings and assess the potential for the area to host bulk tonnage open-pittable near surface gold resources. Tremendous success has been achieved in the Pine Centre area (refer to Company press release dated 18 October 2011) with drill hole intersections such as PC-11-032 (1.57 g/t Au over 14.00 metres), PC-11-033 (1.96 g/t Au over 12.00 metres), and PC-11-026 (1.65 g/t Au over 13.20 metres). Drilling was continued along strike to the northeast (Pine Centre Extension), but with only sporadic narrow gold intersections encountered. Given the valuable information gained from the drilling about the geology, the Company has interpreted a strike-slip fault structure that has truncated the northeastern end of the mineralized zone. The Pine Centre Zone is still untested down dip and also along strike to the southwest and remains an area of significant exploration potential.
Current Operations Update
One diamond drill is currently operating on the Straw Lake Occurrence, (refer to Company press release dated 30 November 2011). The drill is targeting a linear, 800 meter long corridor of gold occurrences lying proximal to the Pipestone-Manitou Stretch Fault and defined by geological sampling from the Company’s 2011 summer mapping program. This area has never been drilled and represents a very exciting gold target near the regional Pipestone-Manitou Deformation Zone. To date, including the 2011 drilling program, the Company has completed a total of 9,515 meters. Since mid-January, the Company has completed three drill holes totaling 882 meters along the Straw Lake Occurrence.
The Pipestone Project is managed by Kevin Leonard, P. Geo., and is supervised Wally Rayner, P. Geo., the company’s Vice President of Exploration, and has verified the contents of this press release. Wally Rayner, P.Geo. is the qualified person for this project.
TABLE 1: LENGTH WEIGHTED GOLD AVERAGES FROM 2011 DRILLING AT PINE CENTRE AND PINE EAST AREAS. CORE LENGTHS EQUAL APPROXIMATELY 90-100% OF TRUE THICKNESSES. DRILL HOLES PC11-042 THROUGH TO PC11-0.52 ARE NOT INTERPRETED TO LIE ON THE PINE CENTRE ZONE. (NSA - NO SIGNIFICANT ASSAYS).
|HOLE-ID||FROM (M)||TO (M)||CORE LENGTH (M)||AU (G/T)||AREA|
|PC11-042||22.00||25.00||3.00||1.33||PINE CENTRE EXTENSION|
|PC11-043||NSA||PINE CENTRE EXTENSION|
|PC11-044||NSA||PINE CENTRE EXTENSION|
|PC11-045||NSA||PINE CENTRE EXTENSION|
|PC11-046||96.00||97.00||1.00||1.17||PINE CENTRE EXTENSION|
|PC11-047||NSA||PINE CENTRE EXTENSION|
|PC11-048||NSA||PINE CENTRE EXTENSION|
|PC11-049||NSA||PINE CENTRE EXTENSION|
|PC11-050||NSA||PINE CENTRE EXTENSION|
|PC11-051||NSA||PINE CENTRE EXTENSION|
|PC11-052||NSA||PINE CENTRE EXTENSION|
Quality Assurance and Quality Control
Drill core analysis and assaying is being conducted by ALS Canada in Vancouver, B.C. Sample preparation is carried out at ALS facilities in Thunder Bay and Timmins, Ontario. ALS Laboratories are registered ISO 9001:2008, and have received ISO 17025:2005 accreditations for specific laboratory procedures. The drill core is split and sampled in standard sample intervals ranging from 0.5 to 1.5 meters. The core samples are analyzed for 48 elements by four acid ICP-MS, for gold by 30-gm fire assay with AA finish, and by gravimetric fire assay for gold assays measuring equal to or greater than 10g/t and screened total metallic assays are being performed as a quality check on samples assaying over 10g/t. The Company has implemented a quality assurance and quality control program to ensure that the sampling and analysis of all samples is conducted in accordance with the best possible practices. Full details of the QA/QC program can be found on the company website: www.mineralmtn.com.
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
“Nelson W. Baker”, President and CEO
For further information, please contact
Brad Baker, Vice-President Corporate Development & Director
(778) 383-3975 email@example.com
Kin Communications Inc.
(604) 684-6730 firstname.lastname@example.org
or visit our website: www.mineralmtn.com
“Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward looking statements, including statements about the Offering. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company’s forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information.