VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/25/13 -- Golden Reign Resources Ltd. (TSX VENTURE: GRR) (the "Company" or "Golden Reign") is pleased to provide additional results from the Las Conchitas-Rio Jicaro Area in the Southern District of its San Albino-Murra Property (the "Property") located in Nueva Segovia, Nicaragua.
Dubbed the "Golden Mile", the Las Conchitas-Rio Jicaro Area has a current strike length of 1,500 metres and is the longest high-grade, near-surface quartz vein structure defined on the Property to date. Grab sampling, which returned a peak assay of 4.72 ounces per ton gold and 1.7 ounces per ton silver (162.09 g/t gold and 58.3 g/t silver), was the catalyst leading to the discovery of both the Cruz Grande mine, situated at the north-east end of the trend, and the Cruz Grande vein that was exposed by trenching in 2012.
The La Fortuna Mine is presently the south-west terminus of the trend; however, Golden Reign has projected the extension of the vein structure for an additional 1 kilometre along strike, down onto the Company's El Jicaro Concession to the south. The zone remains open along strike in both directions and at depth - trenching continues.
The Las Conchitas-Rio Jicaro Area is the third of four highly prospective mineralized areas, covering 2.5 square kilometres, located approximately 1.5 kilometres south of the Company's San Albino Gold Deposit (NI 43-101 technical report and resource estimate available on www.sedar.com and www.goldenreign.com) - all of which can be extended by further trenching and offer potential for the development of significant open-pittable resources. Golden Reign plans to drill test all four mineralized areas in 2013.
Exploration of the Las Conchitas-Rio Jicaro Area in 2012 included the excavation of 7 trenches and 2 exploration pits. This work was a follow-up to the 2011 exploration program that included 17 trenches across 630 metres and 5 highly successful diamond drill holes that tested the Cruz vein. Exploration results to date include:
Trenching (see Table 2 below)
-- 4.98 g/t gold and 8.4 g/t silver over 14.0 metres in RJ11-TR-04, and 19.05 g/t gold and 24.1 g/t silver over 2.0 metres-- 12.14 g/t gold and 28.4 g/t silver over 7.0 metres in SAM12-TR-11-- 11.43 g/t gold and 9.2 g/t silver over 4.0 metres in LC11-TR-05-- 6.91 g/t gold and 16.3 g/t silver over 3.5 metres in LC11-TR-18-- 3.52 g/t gold and 6.7 g/t silver over 7.0 metres in RJ11-TR-01-- 26.27 g/t gold and 13.1 g/t silver over 2.0 metres in LC11-TR-01, and 5.21 g/t gold and 7.3 g/t silver over 5.0 metres
Initial Drill Testing of the Cruz Vein
-- 62.96 g/t gold and 61.7 g/t silver over 3.0 metres in LC11-01-- 29.80 g/t gold and 31.7 g/t silver over 1.2 metres in LC11-02-- 36.50 g/t gold and 60.6 g/t silver over 1.0 metre in LC11-03-- 9.44 g/t gold and 17.3 g/t silver over 1.5 metres in LC11-04, including 20.64 g/t gold and 37.0 g/t silver over 0.6 metres-- 8.63 g/t gold and 3.5 g/t silver over 5.0 metres in LC11-05, including 35.70 g/t gold and 2.0 g/t silver over 1.0 metre