VANCOUVER, BRITISH COLUMBIA, Apr. 8, 2010 (Marketwire) -- Laurentian Goldfields Ltd. (TSX VENTURE:LGF) ("Laurentian", or the "Company") has commenced exploration on the Goldpines Property, located 34 kilometres (km) south of Red Lake, Ontario. Laurentian has contracted Scott Hogg & Associates to complete a 7,000 line km airborne magnetometer and VLF-EM geophysical survey over the Goldpines Property. Follow-up ground work will begin in June 2010.
About Goldpines Property
The Goldpines Property hosts a 200 km2 gold, arsenic and antimony geochemical anomaly defined and staked by Laurentian along the contact of the Uchi and English River Geological Subprovinces (see news release dated March 4, 2010). The Goldpines Property is currently divided into two separate and distinct projects: a) the Goldpines North Joint Venture (GPNJV), for which a letter of intent has been signed with Kinross Gold Corporation ("Kinross") (see Laurentian news release dated March 31, 2009) and; b) Goldpines South, a project funded by and subject to the terms of the Superior Alliance, between Laurentian and AngloGold Ashanti Ltd. ("AngloGold") (see Laurentian news release dated April 29, 2009).
The GPNJV comprises 108 claims, covering a total of 21,926 hectares (ha) and the Goldpines South project comprises 143 claims covering a total of 34,731 ha. Exploration objectives for both projects are similar and focus on defining drill targets for Q1, 2011. Specific activities within the two projects, such as the airborne geophysical survey, benefit from shared logistics and will be undertaken for both projects concurrently. The dissemination of data and distribution of costs will remain separate and distinct between the GPNJV and the Goldpines South project.
The exploration target at Goldpines is a large, sediment-hosted orogenic gold deposit, similar to Goldcorp's Eleonore property in the James Bay region of Quebec.
About Laurentian Goldfields Ltd.
Laurentian Goldfields Ltd. is a team of highly skilled exploration professionals focused on gold discoveries in Canada's frontier exploration areas. Laurentian's innovative exploration approach has drawn the attention of major mining companies such as AngloGold Ashanti Ltd. and Kinross Gold Corporation, who are currently fully-funding over $4 million in grass roots exploration alliances with the Company. Laurentian is committed to the identification and acquisition of new exploration opportunities, in addition to the advancement and growth of our current project portfolio.
ON BEHALF OF THE BOARD OF DIRECTORS,
Andrew Brown, M.Sc., P.Geo., President and CEO
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to mineral potential and planned exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, realized mineralization of properties and the timing and success of future exploration, development and production activities.
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.