VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/07/13 -- Golden Reign Resources Ltd. (TSX VENTURE: GRR) (the "Company" or "Golden Reign") is pleased to announce that a National Instrument 43-101 ("NI 43-101") compliant Technical Report and Resource Estimate on the San Albino Gold Deposit on the San Albino-Murra Property located in Nueva Segovia, Nicaragua, as detailed in the news release issued on November 20, 2012, has been filed on SEDAR and is available on Golden Reign's website at www.goldenreign.com. The report was authored by P&E Mining Consultants Inc. ("P&E") of Brampton, Ontario.
The San Albino Deposit is located near the southwest end of a 20 km long mineralized trend defined by Golden Reign as the Corona de Oro belt. The deposit consists of a series of shallow dipping quartz sulphide veins hosted by graphitic argillaceous schist. The San Albino resource model consists of three high grade, vein systems - the San Albino, Naranjo, and Arras veins - over a strike length of 850 metres, a down dip extension of 925 metres, with a minimum true width of one metre and average true width of 2.6 metres.
Only 0.6 square kilometres of the 2 square kilometre San Albino Mine area, within the Company's total 138 square kilometre land package, has been drill tested. All mineralized zones remain open at depth and along strike in both directions.
Resources
-- Indicated resources of 95,000 ounces gold equivalent ("AuEq") at 8.47 g/t contained in 348,000 tonnes using 0.5 g/t open pit and 1.5 g/t underground gold equivalent cut-offs-- Inferred resources of 805,000 ounces gold equivalent at 7.43 g/t contained in 3,371,000 tonnes using 0.5 g/t open pit and 1.5 g/t underground gold equivalent cut-offs------------------------------------------------------------------------------------------------------------------------------------------------------ Cut-off grade (g/t AuEq) Classification Tonnes Au (g/t)---------------------------------------------------------------------------Open-pittable 0.5 Indicated 247,000 9.00 0.5 Inferred 682,000 8.25Underground 1.5 Indicated 101,000 6.59 1.5 Inferred 2,689,000 7.00------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Au ounces Ag (g/t) Ag ounces AuEq (g/t) AuEq ounces---------------------------------------------------------------------------Open-pittable 71,000 10.8 86,000 9.18 73,000 181,000 10.7 234,000 8.42 185,000Underground 21,000 9.7 31,000 6.76 22,000 605,000 10.6 912,000 7.17 620,000------------------------------------------------------------------------------------------------------------------------------------------------------
