Canadian Shield Exploration & Corporate Update
March 23 2010 - 8:00AM
Marketwired
Canadian Shield Resources Ltd. (TSX VENTURE: EXP) ("Canadian
Shield" or the "Company") is pleased to provide an update on the
exploration programs and corporate structure of the Company. Since
January, Canadian Shield has added three consulting geologists to
the Lima staff to work on the Regional Andean Gold Exploration
program (RAGE) and on the Company's seven other gold projects. The
RAGE field team is actively evaluating new property opportunities
in Peru. At Canadian Shield's most advanced projects, Colpayoc and
Estrella, the staff is improving the geological and drilling
database in preparation for potential resource estimation and
further exploration. SRK Consultants (US) Inc. has been retained to
prepare NI 43-101 Technical Reports and field reviews are now in
progress. Additional drilling permits are being acquired at the
Estrella project and the Company continues to review property
submittals from outside parties in Peru. Canadian Shield is in
early stage discussions with other mid-sized companies for possible
ventures on some projects. The management is also investigating
opportunities to expand the program into other prospective gold
regions of Latin America.
On the corporate side, Canadian Shield's Board of Directors has
been strengthened with the addition of Mr. Fernando Pickmann, a
Lima attorney specialized in corporate and mining law, with
extensive experience in the junior mining sector of Peru. A full
time manager of Community Relations has been hired to expand the
Company's programs in all projects. Canadian Shield has sufficient
working capital in place to fund its exploration programs and
operating costs for the next 12-months and beyond. Canadian Shield
reconfirms that there are no recent material changes in the Company
or in its programs and that there is no material information
pending that would account for the recent increase in market
activity and decline in its share price.
About Canadian Shield Resources Ltd. (TSX VENTURE: EXP)
Canadian Shield is a precious metals exploration and development
company focused on strategically-located properties in Peru and
Chile. Canadian Shield has seven precious metal exploration
projects in Peru and one in Chile. The Company's shares are listed
on the TSX Venture Exchange (Trading Symbol TSX VENTURE: EXP).
Further information is available at Canadian Shield's website:
www.canadianshieldresources.com.
Forward-Looking Statements This news release includes certain
"forward-looking statements". All statements other than statements
of historical fact, included in this release, including, without
limitation, statements regarding potential mineralization and
reserves, exploration results, and future plans and objectives or
expected results of Company, are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Future drilling may fail to confirm economic
mineral accumulations on current targets or discoveries. Important
factors that could cause actual results to differ materially from
the Company's expectations are the risks and uncertainties inherent
in resource exploration and development detailed from time to time
in the filings made by Company with securities regulators.
STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL
INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE
PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE
FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON
NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND
UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS
A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED
IN THE FORWARD-LOOKING STATEMENTS.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contacts: Canadian Shield Resources Ltd. Keith Laskowski MSc. QP
President Direct Tel: (800) 362 2040 or (720) 272-6224 (416)
927-1222 (FAX) klaskowski@canadianshieldresources.com
www.canadianshieldresources.com
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