Vancouver, British Columbia -- April 7th, 2011 - Laurentian Goldfields Ltd. (TSX-V: LGF) ("Laurentian") is pleased to announce that diamond drilling has commenced at the Thundercloud property, located 50 km southeast of Dryden, Ontario. Laurentian plans to complete approximately 4,000 metres of diamond drilling on the property to which it has the rights to earn 100% of Teck Resources Limited's ("Teck") interest through an option agreement (see press release January 13th, 2011).
"This is an exciting and bold new step for Laurentian Goldfields", states Darin Labrenz, President and CEO of Laurentian. "The Thundercloud property has the signature of a large gold-bearing hydrothermal system. Initial drilling will be focused on testing high priority targets in the northern part of the property, with the objective of expanding broad zones of known gold mineralization in the Pelham area."
Drill targets have been defined by a three dimensional analysis of geological data and inverted models of induced polarization and magnetic geophysical surveys. The initial phase of drilling will be followed by a comprehensive, property-wide surface program of rock and soil geochemical sampling and structural mapping to better understand controls of gold mineralization across the property.
The Thundercloud property is located 50 km SE of Dryden, Ontario, and is road accessible from the Trans-Canada highway. Historic exploration activities at the Thundercloud property extend over 80 years, with the most significant work being conducted in the early 1980's by Noranda, Esso and Teck. Drilling by Teck (2007 and 2008), combined with historic exploration on the property suggest that Thundercloud has the potential to host a bulk-tonnage gold deposit.
The technical contents of this release have been reviewed and approved by Mr. Patrick Lengyel, P.Geo., Vice President Exploration for Laurentian Goldfields Ltd., a Qualified Person pursuant to National Instrument 43-101.
About Laurentian Goldfields Ltd.
Laurentian is a team of highly skilled exploration professionals focused on discovery and growth in under-explored regions of mining-friendly jurisdictions. Laurentian generates new projects by employing leading edge exploration concepts and techniques. Laurentian Goldfields is committed to developing shareholder wealth through identifying, acquiring and advancing high quality exploration properties in Canada.
ON BEHALF OF THE BOARD OF DIRECTORS,
Darin Labrenz, P.Geo.
President and CEO
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.
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.
For further information, please contact:
Darin Labrenz, President and CEO
Tel: (604) 646-8000
Fax: (604) 646-8088
Michael Joyner, Humbercrest Capital
Tel: (416) 722-4925