September 29, 2010 - Vancouver, BC -. Laurentian Goldfields Ltd. (TSX-V: LGF) ("Laurentian" or, the "Company") is pleased to announce that it has commenced field work for a new initiative to generate and acquire gold exploration targets in the Quebec portion of the Abitibi Greenstone Belt.
The four week field program will consist of prospecting, rock and soil geochemical sampling and a regionally extensive hydro-geochemical survey focused on areas that the Company believes to be prospective for large, orogenic gold deposits. Laurentian has allocated approximately $225,000 (CDN) to complete this first pass of exploration.
"The Abitibi initiative utilizes the innovative geological concepts and cost-effective techniques that to date have been so critical to the success of exploration programs we are currently operating on behalf of partnerships in Ontario," states Andrew Brown, President and CEO. "The Abitibi initiative is 100% by and for Laurentian and we are excited to be giving our shareholders exposure to one of the most prolific gold environments in the world."
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