VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/21/13 -- Golden Reign Resources Ltd. (TSX VENTURE: GRR) (the "Company" or "Golden Reign") is pleased to provide additional results from the Las Dolores Area in the Southern District of its San Albino-Murra Property (the "Property") located in Nueva Segovia, Nicaragua.
The Las Dolores Area is one of four highly prospective mineralized areas, covering 2.5 square kilometres, located only 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.
Bordering the Company's El Jicaro Concession to the south, the Las Dolores Area hosts near-surface high-grade mineralization that has currently been traced along strike for approximately 1,000 metres. Two prime targets - the Las Dolores mine and the California vein - are situated at the northeast and southwest end, respectively, of the currently outlined zone (see attached map). The zone remains open along strike in both directions and at depth. The southwest extension of the zone has been projected for a further 1,000 metres and lies within the El Jicaro Concession. This zone closely mirrors the 'Golden Mile' the longest high-grade, near-surface quartz vein structure defined on the Property to date. The Golden Mile, which has been traced over 1,500 metres and projected for a further 1,000 metres, lies immediately to the north in the Las Conchitas-Rio Jicaro Area.
The Las Dolores Area hosts several mineralized structures, first exposed by trenching in 2011, which comprise a system of parallel, sheeted, quartz veins. Clustered around the mineralized structures, generally within 100 metres, are numerous old mine dumps and pits, float material and quartz vein structures identified and tested during a 2011 comprehensive prospecting and sampling program.
Golden Reign revisited the Las Dolores Area in 2012, expanding the zone significantly with a highly successful trenching program. Of the six trenches completed, five intersected strong mineralization. Five exploration pits were then excavated to further expose the strike and dip of the mineralized veins intersected by trenching. Two pits were located at trench SAM12-TR-04 and one at each of the following trenches: LC11-TR-22; SAM12-TR-02; and SAM12-TR-03. This work was a follow-up to 2011 exploration activities that included the excavation of 8 trenches across 400 metres, testing of 3 road cuts and collection of numerous samples. Exploration results to date include:
2012 Trenching Highlights (see Table 2 below)
-- 21.00 g/t gold and 21.9 g/t silver over 4.0 metres in SAM12-TR-01, and 14.72 g/t gold and 21.6 g/t silver over 2.0 metres, and 61.06 g/t gold and 94.0 g/t silver over 1.0 metre-- 148.70 g/t gold and 39.6 g/t silver over 1.0 metre in SAM12-TR-02, and 9.49 g/t gold and 3.3 g/t silver over 4.0 metres, and 7.25 g/t gold and 5.5 g/t silver over 2.0 metres-- 11.40 g/t gold and 21.5 g/t silver over 7.1 metres in SAM12-TR-04-- 11.09 g/t gold and 17.2 g/t silver over 2.0 metres in SAM12-TR-05