VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/15/13 -- Meadow Bay Gold Corporation ("Meadow Bay Gold" or the "Company") (TSX: MAY)(OTCQX: MAYGF)(FRANKFURT: 20M)(WKN A1C3DN) is pleased to announce that it has filed a technical report (the "Report") entitled "NI 43-101 Technical Report on Resources, Atlanta Project, Lincoln County, Nevada" on SEDAR. The focus of the Report was to present the results of the resource determination previously announced on January 29th, 2013.
The Atlanta Project is located in eastern Nevada and encompasses the former Atlanta Mine which saw production from 1975 to 1985. Gustavson Associates LLC, prepared the Report that details the resource estimate and its underlying methodology. Gustavson Associates produced the resource estimate based on drilling conducted by the Company in 2011 as well as historical drill data. Both Gold Fields Mining and Kinross Gold had extensive drilling programs at the Atlanta Project in the 1990s. There are no material differences that required reconciliation between the Report and the earlier news release put out by the Company.
Below is a table summarizing the Atlanta resource using a 0.015 opt Au cut-off. The eAu ounces represent the equivalent ounces of gold if the silver is combined with the gold at an Au:Ag ratio of 1:53.
---------------------------------------------------------------------------- eAuCategory Tons Au (opt) Au Ounces Ag (opt) Ag Ounces Ounces(i)----------------------------------------------------------------------------Measured Resource 5,527,000 0.040 219,600 0.444 2,451,800 265,900----------------------------------------------------------------------------Indicated Resource 9,976,000 0.035 352,500 0.345 3,441,800 417,700----------------------------------------------------------------------------Measured + Indicated Resource 15,503,000 0.037 572,100 0.380 5,893,500 683,600----------------------------------------------------------------------------Inferred Resource 18,538,000 0.029 544,300 0.213 3,955,400 618,700----------------------------------------------------------------------------(i) Determined at a 1:53 Au:Ag ratio
Robert Dinning, CEO, commented, "In addition to providing the Company with an up-to-date resource estimate, the modeling by Gustavson Associates has outlined opportunities for both upgrading and expanding the resource in the historic Atlanta Mine area. This is in addition to the untested geochemical and geophysical targets in the Western Knolls. As has been seen in numerous mining districts across Nevada, the discovery of an initial deposit is the best predictor for future exploration success."
A link to a downloadable copy of the Report can be found on the Company website at http://www.meadowbaygold.com/.
Dr. M. Claiborne Newton, III, C.P.G., a Qualified Person as defined by National Instrument 43-101 and independent consultant to the Company, has reviewed and approved the contents of this press release.
Meadow Bay Gold is focused on developing the former producing Atlanta Gold Mine in Nevada, USA. Permitting for the next round of exploration drilling is ongoing.
