Vancouver, BC - February 21, 2012: Evrim Resources Corp. (TSX.V:EVM) is pleased to announce the commencement of exploration work in the Trans Mexican Volcanic Belt (“TMVB”) in Mexico. The program is being jointly operated and funded by Evrim and regional exploration partner Newmont Ventures Limited (“Newmont”).
A systematic exploration program has been designed to define prospective exploration targets and areas within the TMVB. The backbone of the program will be the collection of stream sediment samples utilizing Newmont’s proprietary bulk leach extractable gold (BLEG) analysis that can quickly and reliably assess large tracts of ground. BLEG is a proven geochemical method that analyses the cyanide extractable gold in sediment samples. The technique utilizes large sample weights that allow for better sampling statistics with low detection limits, making BLEG a useful method for reconnaissance gold exploration. This initial phase of the program is expected to continue into the third quarter of 2012.
“Evrim continues to create value by leveraging the technical and financial strength of its partnerships to generate quality exploration opportunities with the chance for discovery. Cost effective exploration initiatives such as our work in the TMVB not only benefit Evrim’s shareholders but our exploration partners as well,” stated Paddy Nicol, President and CEO of Evrim.
About the Trans Mexican Volcanic Belt
A major characteristic of the TMVB is the extensive Neogene to Quaternary volcanism, which includes the active Colima, and Popocatepetl stratovolcanoes. Examples of low and high sulphidation, porphyry, breccia related and hot springs types of mineralization all occur within the TMVB. Rocks of the TMVB have been deposited onto a complex basement that include southward extensions of the older Sierra Madre volcanic province, the Mesa Central, and the Sierra Madre Oriental fold and thrust belts. These older rocks are exposed locally in erosional or non-depositional windows within the volcanic rocks of the TMVB and can include gold and silver veins, VMS deposits, and intrusive-centered polymetallic districts. Younger rocks of the TMVB host active geothermal systems and numerous areas of high-level clay and silica alteration with associated epithermal mineralization that are also prospective exploration targets.
About the Regional Exploration Initiative
Under the terms of a regional exploration agreement announced January 16, 2012, Evrim and Newmont will conduct generative exploration programs within study areas in the TMVB in Mexico. The program will focus on identifying gold, silver, and gold-copper porphyry targets using Evrim’s generative capabilities in Mexico and Newmont’s proprietary bulk leach extractable gold analysis. Evrim and Newmont will fund the exploration program to a maximum of $250,000 US each. Projects that are acquired within the study areas will be 100% owned by Evrim, subject to a 1.5% Net Smelter Royalty and a five-year Right of First Offer to Newmont.
About Evrim Resources
Evrim is a mineral exploration company with a diverse portfolio of quality gold and copper projects, and a geological database covering Mexico and portions of southwestern United States. Evrim’s business plan is to generate exploration targets that it will advance through option and joint venture agreements with industry partners to create shareholder value. The projects generated to date form a solid foundation for Evrim’s execution of the joint venture business model, which will be further enhanced by a pipeline of new internally developed projects.
For further information on Evrim please visit www.evrimresources.com.
On Behalf of the Board
EVRIM RESOURCES CORP.
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President or Lisa Stefan, Manager, Investor Relations at 604-248-8648.
Forward Looking Information
This news release includes certain statements that may be deemed “forward looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that Evrim Resources Corp. (the “Company”) expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.
Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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.