CONCORD, ONTARIO, Jun. 21, 2010 (Marketwire) -- Tawsho Mining Inc. (TSX VENTURE:TAW) ("Tawsho" or the "Corporation") is pleased to announce the following operations update:
In the press release dated April 19th, 2010, Tawsho announced completion of the National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") compliant report on the mineral resource of the Chevrier deposit on Tawsho's Chevrier Property (100% owned and occupying an area of about 95 sq kms)located near Chibougamau, Quebec. The report was completed by Met-Chem Canada Inc. Met-Chem an independent engineering firm with offices in Montreal, Quebec.
Based on a numerical modeling, Met-Chem estimates the Chevrier deposit, one of the two mineral deposits of the Chevrier Property, from surface to a depth of 250 m to contain 4.6 million tons of inferred resource at an average grade of 1.99 g/t Au using a cut-off of 1 g/t Au and a minimum width of 1.5 m for a total of 295,000 ounces. The deposit appears to extend down-dip below 250 m.
"A bulk sampling will commence shortly. Milling the bulk samples is expected to provide a more representative average mining grade including dilution, and a free gold recovery rate for gravity pre-concentration", stated Mr. Joseph Feldman, President of Tawsho.
Francoise Gagnon, Eng., is the QP for this project.
WHISKER VALLEY property:
In the press release dated April 6th, 2010, Tawsho announced it had signed an option agreement to purchase a 100% interest in the in the Whisker Valley mineral claims (occupying an area of about 400 sq kms)located on Baie Verte Peninsula, Newfoundland.
"We have commenced prospecting in the Whisker Valley and have extracted and sent 39 core samples to the lab for analysis. We are expecting the results from the lab within the next several weeks. Licenses have been applied for which will allow us to commence drilling and an IP Survey. Drilling contracts have been signed today with drilling expected to commence in the first week of July", stated Mr. Joe Feldman, President of Tawsho.
Elizabeth Vida, P. Geo., is the QP for this project.
INSIDER SHARE PURCHASES:
In the press release dated June 4th, 2010 Mr.Zoran Arandjelovic, Chairman of Tawsho reported that he now holds 6,754,235 Common Shares, representing approximately 29.7% of the issued and outstanding Common Shares of Tawsho. There are no other persons acting jointly or in concert with Mr Arandjelovic.
"We are most encouraged by the findings to date on both the Chevrier and Whisker Valley properties. It is our goal to continue to develop these two properties and to acquire other suitable properties that meet our requirements of generating production and increasing deposits. At present Tawsho is evaluating properties in Canada, USA, Mali and Ethiopia. With no debt, more than $2million cash on the balance sheet and only 22 million shares issued and outstanding, Tawsho is well positioned to meet its objectives," stated Mr Joseph Feldman, President.
ABOUT TAWSHO MINING INC.
Tawsho is a mining exploration company focused on the acquisition, exploration, and development of gold resources and advanced stage gold exploration projects.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as a term that is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.