Revolution Announces Closing of Acquisition of Mexico Portfolio from Lake Shore Gold
May 8th, 2013, Vancouver, BC, Canada – Revolution Resources Corp. TSX:RV (“Revolution” or the “Company”) is pleased to report that the Company has completed the previously announced acquisition of 100% of Lake Shore Gold Corp.’s interests in the Mexico property portfolio, which consists of the Universo and Montaña de Oro properties totaling over 400,000 hectares in two historic mining regions of Mexico.
“We are pleased to have completed this important step in advancing our Mexico project generator model,” stated Revolution’s President and CEO, Aaron Keay, “The Company is focused on securing partnerships for joint venture or property sales to unlock the value in this highly prospective portfolio.”
As a result of the issuance of Revolution shares at closing, Lake Shore Gold now holds a total of 26,713,740 Revolution shares or 22.7% of the outstanding Revolution shares. For full details of the agreement, see news release dated January 30th, 2013.
Montaña de Oro
The Montaña de Oro property is comprised of the Montaña de Oro, La Bufa and Lluvia de Oro projects.
Montaña de Oro Project
The Montaña de Oro project covers 25,983 hectares and is located 25 kilometers south of Coeur D'Alene's Palmarejo mine, 20 kilometers north of Pan American Silver's Alamo Dorado mine, and nearby to several other advanced precious metal projects. Currently, 17 areas of gold mineralization and a carbonate replacement discovery at La Concepcion have been identified on the property. As well, four undrilled copper porphyry style targets with high-grade copper and gold values occur on the property. Historic drill results include: 4.8 meters averaging 9.58 g/t Au and 121.78 g/t Ag with 1.45 meters at 35.6 g/t Au and 93 g/t Ag at the El Rodeo and La Violetta vein target, 3.05 meters averaging 3.1 g/t Au and 108.28 g/t Ag at the Don Pancho vein target, and 4.47 meters averaging 30.3 g/t Ag, 16.5% Zn and 0.97% Cu at La Concepcion.
La Bufa Project
The 18,213 hectare La Bufa project is located 30 km east of Goldcorp’s El Sauzal mine, and is centered on the historic Carmen copper-gold mine. The La Bufa property also includes the historic Golondrina and San Fernando mines and five of Revolution’s newly identified prospects. Prior to Revolution’s 2012 exploration program, only limited work had been performed on the property. Multiple new gold, silver, copper and molybdenum prospects and historic mines were identified on the Property, the majority of which were not drilled. The Property is centered on the historic Carmen Mine, which reportedly produced approximately one million tonnes grading 2.5% Cu, 2.9 g/t Au and 2.8 g/t Ag between 1947 and 1958 from a vein system with vertical development from 1500m to 1100m elevation.
Lluvia de Oro Project
Lluvia de Oro is located 30 kilometers east of the Montaña de Oro property and situated along the same ENE trend as the La Bufa property. Historic records of the 391 hectare property indicate that between 1898 and 1915, and during the early 1950s, approximately 100,000 tonnes of ore was mined, averaging 95 g/t Au and 865 g/t Ag. Underground samples from the property averaged 4.65 g/t Au and 32.71 g/t Ag, including 45.6 g/t Au over 1.6 meters. The high grade values of gold and silver mineralization at Lluvia de Oro occurs both as broad disseminated zones up to 35 meters in width developed as mantos in silicified limestone and in discrete veins up to 12 meters in width in limestone, dacite porphyry and andesite.
These historic production figures are from historic company documents and government records; A Qualified Person(s) have not independently verified these production figures and they should not be relied upon.
The Universo property is over 100km long and 35 kilometers wide, and surrounded to the north by Goldcorp’s Camino Rojo gold-silver deposit (Canplats Resources, purchased by Goldcorp) and Peñasquito gold-silver-lead-zinc mine. To the south lies Grupo Mexico’s Charcas zinc-copper mine, the largest zinc producer in Mexico, and to the east, First Majestic’s Real de Catorce silver project, in addition to many other prospects and historic mines. In addition, New Gold’s Cerro San Pedro gold-silver mine is located 100km further south, and the 370,500 hectare Universo property occurs in the heart of this 300km long trend. Despite the property’s strategic location, only limited modern exploration has been performed; the last known drilling being eighteen years ago. To date, Revolution has identified twenty-five surface showings, prospects, and anomalous zones on the highly prospective Universo property.
Technical disclosure in this release was prepared by and approved by Robert McLeod, P.Geo., Vice-President of Exploration and Qualified Person for Revolution Resources.
Revolution Resources Corp. is a TSX-listed exploration company (TSX: RV) based in Vancouver, BC, Canada. The Company's current exploration activities are focused on the historic belts of Mexico and the USA. Revolution is dedicated to the identification and advancement of precious and base metal deposits utilizing a prospect generator model in Mexico, while maintaining 100% ownership of its Champion Hills discovery in the Carolina Slate Belt of the southeastern USA. Further information can be found on the Company’s website at www.revolutionresourcescorp.com
ON BEHALF OF THE BOARD
of Revolution Resources Corp.
President, CEO and Director
For more information please contact:
Manager, Investor Relations
President, CEO and Director
Forward-Looking Statements: Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the Company’s plans for exploration and development of the Mexican properties and potential mineralization. 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 risk factors include, among others, failure to obtain regulatory approvals, failure to complete anticipated transactions, the timing and success of future exploration and development activities, exploration and development risks, title matters, inability to obtain any required third party consents, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.