VANCOUVER,
Feb. 14, 2012 /PRNewswire/ - Guyana
Frontier Mining Corp. (TSX-V: GYG) ("Guyana Frontier") is pleased
to announce the commencement of a 3,000 metre diamond drilling
program at the Marudi Mountain Gold Project ("Marudi Mountain") in
southern Guyana, South America. The program consists of 10 to
15 holes to depths of between 150 to 300 metres to test the
saprolite and bedrock zones present in two areas of the Marudi
Mountain property. Two holes are planned for the Mazoa Hill target
area where drilling by previous explorers identified a substantial
zone of gold mineralization. The remaining holes are planned for
the Marudi North target area, where Guyana Frontier identified
prospective drill targets from its extensive 2011 trenching program
(see Guyana Frontier News Release, October
31, 2011).
The drilling program is expected to continue into
April 2012. To view a map depicting
the locations of both proposed 2012 drill holes and historical
drill holes, please visit Guyana Frontier's website at
www.guyanafrontier.com
The technical disclosure in this news release has
been reviewed and approved by Mr. Locke
Goldsmith, M. Sc., P.Eng., P.Geo., a Qualified Person as
defined in National Instrument 43-101, and an independent
contractor to Guyana Frontier.
About Marudi Mountain
Marudi Mountain consists of one Mining Licence
totaling 13,502 acres (5,464 hectares) located in southern
Guyana approximately 500
kilometres (330 miles) from the capital city of Georgetown. Guyana Frontier holds a 100%
interest in the Project, subject to a 2% net smelter returns
royalty ("NSR").
Guyana Frontier also holds a 100% interest in the
adjacent Paint Mountain property ("Paint Mountain"), subject to a
2% NSR. Paint Mountain consists of one Prospecting Licence
totaling 8,848 acres (3,581 hectares) and remains largely
underexplored. Guyana Frontier recently commenced surface
exploration at Paint Mountain. Rock and stream sediment samples
have been collected and sent for geochemical analysis and
petrography. A portion of the property has been selected for
detailed mapping and sampling on the basis of favourable geology
and the presence of artisanal alluvial gold miners. Airborne
geophysical surveys are planned for both Marudi Mountain and the
Paint Mountain projects in early 2012.
About Guyana Frontier
Guyana Frontier is a public mineral exploration
company listed on the TSX Venture Exchange (TSX-V: GYG), and is
focused on the exploration, discovery and development of precious
metals deposits located within Guyana, South
America. Guyana Frontier began acquiring interests in
Guyanese exploration properties in 2007, and now holds various
rights to obtain working interests in approximately 342,000 acres
(138,400 hectares) of prospective lands. Guyana Frontier's goal is
to develop a significant gold resource at Marudi Mountain, and to
explore its other Guyanese projects using funding from exploration
partners.
Neither the 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.
FORWARD LOOKING STATEMENTS
This release contains "forward-looking
statements" within the meaning of applicable Canadian securities
legislation. Forward-looking statements include, but are not
limited to, statements that address activities, events or
developments that the Company expects or anticipates will or may
occur in the future, including such things as planned exploration
activities at the Marudi Mountain and Paint Mountain properties,
the establishment of an NI 43-101 compliant resource at the Marudi
Mountain property, future business strategy, competitive strengths,
goals, expansion, growth of the Company's businesses, operations,
plans and with respect to exploration results, the timing and
success of exploration activities generally, permitting time lines,
government regulation of exploration and mining operations,
environmental risks, title disputes or claims, limitations on
insurance coverage, timing and possible outcome of any pending
litigation and timing and results of future resource estimates or
future economic studies.
Often, but not always, forward-looking
statements can be identified by the use of words such as "plans",
"planning", "planned", "expects" or "looking forward", "does not
expect", "continues", "scheduled", "estimates", "forecasts",
"intends", "potential", "anticipates", "does not anticipate", or
"belief", or describes a "goal", or variation of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be
achieved.
Forward-looking statements are based on a number
of material factors and assumptions, including, the result of
drilling and exploration activities, that contracted parties
provide goods and/or services on the agreed timeframes, that
equipment necessary for exploration is available as scheduled and
does not incur unforeseen break downs, that no labour shortages or
delays are incurred, that plant and equipment function as
specified, that no unusual geological or technical problems occur,
and that laboratory and other related services are available and
perform as contracted. Forward-looking statements involve
known and unknown risks, future events, conditions, uncertainties
and other factors which may cause the actual results, performance
or achievements to be materially different from any future results,
prediction, projection, forecast, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include, among others, the interpretation and actual
results of current exploration activities; changes in project
parameters as plans continue to be refined; the existence of
weather conditions suitable for exploration activities; future
prices of minerals; possible variations in grade or recovery rates;
failure of equipment or processes to operate as anticipated; the
failure of contracted parties to perform; labour disputes and other
risks of the mining industry; delays in obtaining governmental
approvals or financing or in the completion of exploration, as well
as those factors disclosed in the company's publicly filed
documents. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
SOURCE Guyana Frontier Mining Corp.