September 27, 2010 -- Vancouver, BC - Laurentian Goldfields Ltd. (TSX-V: LGF) ("Laurentian", or, the "Company") is pleased to announce the commencement of Phase 3 exploration at the 56,707 hectare (ha) Goldpines Property. The Goldpines Property is separated into two distinct project areas; the 21,976 ha Goldpines North Joint Venture which is subject to a 50/50 joint venture between Laurentian and Kinross Gold Corporation and the 34,731 ha Goldpines South project, which is wholly-owned by Laurentian and subject to the terms of the Superior Alliance with AngloGold Ashanti Ltd.
Phase 3 exploration will include additional infill soil sampling, overburden removal and channel sampling within select gold-in-soil anomalies to follow up on encouraging results obtained during the Phase 2 programs on the Goldpines North Joint Venture and Goldpines South project. The focus of Phase 3 exploration will be to expose the potential source of the anomalies, and also to gain a better understanding of the geological setting in areas with more overburden in order to target areas for drilling in Q1, 2011.
Summary of Phase 1 and 2 Exploration at Goldpines*
•7,000 line km airborne magnetometer and VLF-EM geophysical survey over the Goldpines North Joint Venture and Goldpines South.
•Lake sediment sampling defined a 4 km by 2 km gold, antimony and arsenic anomaly at Pakwash Lake at Goldpines North Joint Venture.
•Soil sampling defined a gold, antimony and arsenic anomaly over a distance of 5 km at the Granite Zone on the Goldpines South project.
•Combined soil and lake sediment sampling defined the gold, arsenic and antimony-enriched SLF Zone over a distance of 8 km, parallel and adjacent to the Sidney Lake Fault at the Goldpines South project.
*See Laurentian press releases dated April 8, August 11 and August 17, 2010 for results relating to Phase 1 and 2 exploration.
Phase 3 exploration will take place concurrently at both the Goldpines North Joint Venture and Goldpines South project and is expected to complete by the end of October. The results from all 3 Phases of exploration at Goldpines will be compiled and reviewed in order to prioritize anomalies and targets for drilling in Q1, 2011.
Laurentian's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Patrick Lengyel, P.Geo., Laurentian's Vice-President, Exploration, who serves as a Qualified Person under the definition of National Instrument 43-101.
About Laurentian Goldfields Ltd.
In 2008, Laurentian Goldfields Ltd. set out a mandate to establish itself as an innovative gold explorer, focusing on unconventional targets that lie outside of the thoroughly prospected greenstone belts of Canada. In 2009, the Company made great progress in achieving this mandate through the formation of exploration alliances with both AngloGold Ashanti Ltd. and Kinross Gold Corporation. These alliances have given Laurentian the means to conduct over $2 million worth of grassroots exploration in 2010 and are a strong endorsement of Laurentian's skill as an exploration company. The Goldpines North Joint Venture (a 50/50 joint venture with Laurentian and Kinross) has gone from an exploration concept to a drill-ready joint venture in just over a year, an excellent example of the Company's ability to conceive of and execute high quality exploration strategies.
ON BEHALF OF THE BOARD OF DIRECTORS,
Andrew Brown, M.Sc., 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:
Vanessa Pickering, Manager, Corporate Communications
Tel: (604) 646-8000
Fax: (604) 642-8088