VANCOUVER, BRITISH COLUMBIA, Jan. 5, 2010 (Marketwire) -- New Dimension Resources Ltd. (TSX VENTURE:NDR) (the "Company" or "New Dimension") is pleased to provide an update on the Cenepa gold project, which covers one of the most attractive geological terrains in northern Peru: adjacent to the Kinross Gold Corp. ("Kinross") Condor Project and Fruta Del Norte gold deposit in Ecuador (please click to view map: http://www.newdimensionresources.com/i/maps/Cenepa/Cenepa_Project.jpg).
The Company has been advised by its Peruvian legal council that title confirmation has been received on two additional Cenepa concessions. Minera NDR Peru S.A.C. ("NDR Peru") now holds title to six key concessions with title for the remaining four concessions anticipated shortly. The company expects to initiate exploration activities on the property in early 2010 and is currently assessing the area logistics and property geology for its initial program.
"I am very pleased with our success in obtaining key concessions within the Cordillera Del Condor gold district in Northern Peru", said Fred Hewett, President and CEO of New Dimension. "Management believes that its land position, bordering the Kinross Fruta Del Norte deposit in Ecuador and only five kilometres from one of their significant gold occurrences, is one of the most promising for discovery of mineralization on trend and proximal to their Condor Project. New Dimension looks forward to advancing the Cenepa Project and to an exciting 2010 exploration season."
The Cenepa Project is comprised of ten mining concessions totaling approximately 9,000 hectares in northern Peru along its border with Ecuador. The concessions, staked by NDR Peru in 2006, cover the projection of a 20 kilometre long north-south trending mineral belt that includes Kinross' Condor Project and the Fruta Del Norte gold discovery.
The Condor Project is situated in Ecuador near the Peruvian border and was acquired by Kinross in September 2008 through the acquisition of Aurelian Resources Inc. The Kinross property includes a NI 43-101 compliant Inferred Mineral Resource at Fruta Del Norte consisting of 58.9 million tonnes grading 7.2 g/t gold and 11.8 g/t silver containing 13.7 million ounces of gold and 22.4 million ounces of silver. Kinross currently have 4 drill rigs active on the project and intend to complete a pre-feasibility study in 2010.
Also within the Condor Project is the Aquas Mesas Sur prospect, which includes an announced drill intercept of 51.06 g/t gold over 9.2 metres. This prospect is the southern-most known gold occurrence within this newly emerging gold belt and is located only five kilometers north, and on trend with, NDR Peru's Cenepa concessions. Although there has been very limited exploration work in Peru where the mineral trend crosses the border, the Company believes the area is geologically highly permissive for the discovery of significant gold deposits.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Thomas Burkhart, the Company's Vice President of Exploration, a director and a Qualified Person under NI 43-101
ON BEHALF OF THE BOARD
NEW DIMENSION RESOURCES LTD.
Fred G. Hewett, P.Eng., President & CEO
This news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See New Dimension's filings for a more detailed discussion of factors that may impact expected results.
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