Guinness Exploration Reports on Nantawa Project Geological Analysis
WELLINGTON, New Zealand, March 23 /PRNewswire/ -- Guinness Exploration Inc. ("Guinness") (OTC Bulletin Board: GNXP) reported today that approximately 90% of the pre-existing geological data for the Mount Nansen and Tawa gold and silver exploration properties has now been acquired and organized by Coast Mountain Geological Alaska LLC ("Coast Mountain") and integrated into a Geological Information System database.
Chief Geologist John Hiner commented, "We continue to be impressed by the potential of several potential gold targets and a porphyry copper target developed in the initial data analysis by Coast Mountain. We'll be working closely with Coast Mountain over the next few weeks to refine this analysis and determine some specific locations for drilling. Our plan is to initiate a drill program immediately upon field confirmation of drill targets."
Mr. Hiner continued, "We also note the recent interest in the Tintina Gold Belt exhibited by the acquisition of Underworld Resources Inc. by Kinross Gold Corporation last week. This appears to have been spurred by Underworld's discovery of a 'substantial new gold discovery 95 km south of Dawson City' (source: Underworld Resources Inc.) and this has strengthened our determination to move forward quickly on the Nantawa Project."
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.
For more information please contact Investor Relations at phone: 1-800-841-2788
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Safe Harbour Statement under the Private Securities Litigation Reform Act of 1995
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: "We will be working closely with Coast Mountain over the next few weeks to refine this analysis and determine some specific locations for drilling. We plan to initiate a drill program immediately after field confirmation of drill targets" 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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