Jul. 19, 2010 (TheNewswire.ca) --
Vancouver, B.C., July 19, 2010; Jayden Resources (OOTC:PNMLF) (TSXV:JDN) Inc., formerly Pinnacle Mines (JDN:TSX-V)("Jayden" or the "Company") announces that the common shares of Jayden Resources Inc., formerly Pinnacle Mines, now trade on the TSX Venture Exchange under the new symbol "JDN".
Jayden's flagship property, Silver Coin, is an NI 43-101 advanced-stage gold/silver deposit located in an emerging major metals district - the Stewart Camp, northern BC that includes the historic Silbak-Premier Mine, the Granduc Mine and Barrick Gold's (NYSE:ABX) (TSX:ABX) famed Eskay Creek Mine. In addition to the defined resource at Silver Coin, the property has strong exploration potential to the north, north-west and to the south of the existing resource.
"With a 43-101 gold/silver resource in a recognized gold/silver camp and potential to expand this resource through exploration, Jayden is well positioned to present itself to the market. We are well financed with a strong shareholder base and an experienced Management and Board" comments Jayden CEO, David Eaton.
"We are now set up to significantly advance the Company on various fronts - exploration, permitting, M&A, and marketing."
The Company plans to drill 15-20 holes on the property totalling approximately 3000m to address three important issues for future development:
-Step-out holes to explore for continuation of the mineralization to the north
-In-fill holes to aid in ongoing resource studies and confirmation of the grade and continuity of the mineralization
-Several holes to collect structural data for pit-slope stability studies in support of ongoing mine modeling
The work will begin pending receipt of permits and mobilization of the drill equipment.
In 2009, Jayden contracted with Terrace, BC based Cambria Gordon to initiate baseline environmental studies at Silver Coin. Cambria Gordon's report collected the first year's water chemistry data for the property as part of a multi-year study to define the baseline water chemistry and determined the following:
-No threatened or endangered species of plants or animals were found
-No fish were found in No Name Lake (a potential site for tailing disposal)
In 2010 Jayden contracted AMEC Earth and Environmental to continue and expand on the environmental work completed by Cambria Gordon in 2009. AMEC has begun field work on the property and this will be ongoing with periodic visits to measure stream flow and collect water samples for water chemistry.
AMEC will focus on several studies including the following:
-Establish a meteorological station on the site to collect continuous weather and climate data
-Establish 4 sites to collect hydrology data and water chemistry
-Establish several additional sites for water chemistry sampling
-Conduct a second phase sampling of No Name Lake to confirm its status as non-fish bearing
About Jayden Resources
Jayden Resources (formerly Pinnacle Mines) is a Canadian exploration company with an advanced-stage gold/silver deposit on its Silver Coin property in the Stewart Camp, northern BC - an emerging major metals district that includes the historic Silbak-Premier Mine and Barrick Gold's famed Eskay Creek Mine. On Silver Coin, excellent exploration potential remains to the north, north-west and south of the existing resource.
Technical information in this press release was prepared and reviewed by Robert Perry, CPG, who is recognized as a Qualified Person under the guidelines of National Instrument 43-101.
For further information about Jayden and this news release contact Mike Thast at 604-688-9588 or visit Jayden's website at www.jaydenresources.com.
On Behalf of the Board:
Chief Executive Officer
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company's general business development, research development and the company's development of mineral exploration projects. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Pinnacle Mines Ltd. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
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