(Vancouver, February 26, 2015): Mineral Mountain Resources Ltd. (“Mineral Mountain” or the “Company”) (TSXV: “MMV”) (OTCQX: “MNRLF”) is pleased to report that the Company will be commencing a drill program consisting of eight holes totalling 1,500 meters (5,000 feet) designed to expand two of the highest grade gold deposits located within the Company’s 4,129-acre Holy Terror Project, located in the mining friendly state of South Dakota, U.S.A., about 55 kilometres southeast of the former Homestake Mine. Historical development and limited diamond drilling indicate that the Keystone Mine North Extension and the Bullion Mine gold deposits are open for expansion along strike to the northwest towards the historic Bismarck Mine and down plunge. A number of significant, high grade gold intersections over robust mining intervals as noted herein were recorded historically in both gold zones that were never systematically followed-up by diamond drilling. This drill program, which is scheduled to commence in mid-March, will specifically target the expansion of both high grade gold zones along strike and down plunge.
Bullion Mine Deposit and Keystone Mine North Extension Deposit
Both the Bullion Mine and the Keystone Mine North Extension deposits are located approximately 550 metres southeast of the historic Bismarck Mine within a 300 meter wide, crustal-scale regional fault zone that hosts five “turn of the century” gold producers within a strike length distance of about 650 meters. This regional fault zone host three parallel gold horizons, the Holy Terror Mine, the Keystone and the Bullion, that are approximately 150 meters apart and trend northwesterly toward the Bismarck Mine. Dr. Graham Wilson, P. Geo., conducted a recent petrographic study on the Company’s Phase I and II drill core on the mineralogy of the Holy Terror drill core and his study concluded that: “The Holy Terror suite of rocks in this study display numerous similarities with the Homestake Mine ores, in terms of host rock, ore mineralogy, textures and general paragenesis.”
Near the end of the Company’s Phase II drill program completed in March 2013 (please refer to the Company’s March 27, 2013 news release), Hole HT-13-032 successfully intersected both the northwestern extension of the Bullion Mine gold deposit near surface and the Keystone Mine North Extension. Of importance, Hole HT-13-032 intersected this latter zone 25 metres to the northwest and at the same level as defined by historical Hole KG94-70 (1994 Energy Fuels Corporation), which intersected 16.88 g/t (0.49 oz/t) Au over 3.35 metres (10.7 feet). Hole HT-13-032 successfully confirmed this high grade gold mineralization having intersected 10.47 g/t (0.31 oz/t) Au over 6.00 metres (19.2 feet).
The surface expression of the Bullion Mine horizon was also tested by the same Hole (HT-13-032) returning 5.00 g/t (0.15 oz/t) Au over 10.52 metres (33.7 feet). This intersection expands the Bullion Mine zone and remains open to the northwest and to depth.
Nelson W. Baker, President and CEO of Mineral Mountain comments:
“As has been demonstrated by our previous two phases of drilling, the exploration potential of the Holy Terror Project is quite simply above average. We are particularly encouraged with the excellent distribution and continuity of the gold mineralization throughout the intersected intervals in the Bismarck, Bullion and Keystone North Extension zones. All of the zones are open for expansion along strike and to depth. This project stands out from most others because the high grade gold mineralization is near-surface and possesses robust mining widths. We believe that, because of the high grade tenor and the robust widths recorded in the Keystone North Extension and in the Bullion Mine horizon, these two targets offer excellent potential.”
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101, reviewed and approved by Nelson W. Baker, P.Eng., the President and CEO of Mineral Mountain Resources Ltd. and a Qualified Person for this project. The exploration activities at the Holy Terror Project are carried out under the supervision our Project Manager Kevin Leonard, P.Geo., a Qualified Person for this project.
About Mineral Mountain and its Black Hills Area Properties, South Dakota
Mineral Mountain Resources Ltd., through its wholly owned subsidiary Mineral Mountain Resources (SD) Inc., is focused on the exploration and, if warranted, development of its key assets, the Holy Terror Project in the Keystone Mining district and the 100%-owned Rochford Project both located along the Homestake Gold Trend in the southeastern part of the Black Hills of South Dakota. The Holy Terror Project covers 4,129.19 acres straddling a major gold bearing structural corridor measuring about 15 km in strike length and 1.5 km in width. The Rochford Project covers approximately 4,466.46 acres straddling about 9 km of the gold bearing structure and 2 km in width. Collectively, Mineral Mountain controls property interests along 24 km of the Homestake Gold Trend. The Holy Terror and the Rochford Project contain 17 historic gold mines, eight of which occur within the Holy Terror Project. Production from these mines came from early Proterozoic gold mineralization associated with iron formation, and shear zones similar to the deposits at the former Homestake gold mine which, over 120 consecutive years, produced over 40 million ounces of gold. Both the Holy Terror and Rochford Projects are located near Rapid City, are easily accessed by a network of roads and have hydro-electricity, and cell phone and internet services available to the drill sites. As well, the area has a skilled labor force and is a low cost exploration area. South Dakota has low political risk and a jurisdiction that embraces mineral development.
A technical report prepared by SRK Consulting entitled “Technical Report for the Holy Terror Project, South Dakota, USA” dated June 20, 2012 (the technical report) is available on the Mineral Mountain website (www.mineralmtn.com) or under Mineral Mountain’s profile on SEDAR (www.sedar.com).
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
“Nelson W. Baker”, President and CEO
For further information, please contact
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 information” under Canadian securities laws. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, constitute forward looking-information. Forward looking information consists of 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 information are based on reasonable assumptions, such information does not constitute guarantees of future performance and actual results may differ materially from those in forward-looking information. Factors that cause the actual results to differ materially from those in forward-looking information 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 information 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 the forward-looking information 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.