BURLINGTON, ONTARIO -- (Marketwired) -- 08/19/13 -- GTA Resources and Mining Inc. (TSX VENTURE: GTA) is pleased to announce the commencement of a drill program on the newly discovered Exploits Zone at the Squid East project in the Matson Creek area in the Yukon. This initial drilling will focus on the recently reported chip sampling which returned 1.96 grammes per tonne (g/t) gold over the entire 22.0 meter (m) trench length. Included in this is a higher grade interval of 6.39 g/t gold over 4.0 m. (see news release dated 6 August 2013).
A modest 400 m drill program is initially planned to better define the orientation and size of the Exploits gold zone. The Matson Creek placer camp and airstrip will be used as a staging point and a recently completed access trail will be used to service the drill. In addition to diamond drilling, an attempt will be made to further expose bedrock by mechanical trenching in areas where bedrock could not be exposed due to frost conditions in early July.
GTA can earn an initial 51% interest in the Squid East property from Metals Creek Resources Corp. ("MEK") and can increase its interest to 70% as previously announced in a press release dated 12 January 2013. MEK will be the operator during the initial earn-in period.
The Squid East property was initially staked in February, 2011 and is located proximal to the Matson Creek placer gold operations, approximately 90km southwest of Dawson City. A four wheel drive access road and airstrip service the placer camp and the current field work availed of the placer camp airstrip, accommodations and equipment to help carry out the program. A six km access trail was completed from the Matson Creek four wheel drive road to the target area, making access more cost effective.
GTA's 100% owned Auden Property is located adjacent to the south of the Albany Property of Zenyatta Ventures Ltd., who recently discovered vein-type graphite (hydrothermal) mineralization while testing electromagnetic (EM) targets. GTA announces that it has acquired an additional 58 claim units contiguous to its existing Auden Property, which increases the Auden Property to over 27,000 hectares (1718 claim units) and that it has identified several conductive zone targets on its central claims. GTA may continue to acquire further claims in the area.
Advance Notice Policy
GTA also announces that its board of directors has adopted an advance notice policy (the "Policy") in order to facilitate an orderly and efficient annual general meeting or, where the need arises, special meeting, to ensure that all shareholders receive adequate notice of director nominations and sufficient information with respect to all nominees, and to allow shareholders to register an informed vote having been afforded reasonable time for appropriate deliberation.
In accordance with the terms of the Policy, the Policy will be put to shareholders of the Company for approval at the next annual general and special meeting (the "Meeting"), which is scheduled for October 24, 2013. If the Policy is not confirmed at the Meeting, the Policy will terminate and be of no further force and effect following the termination of the Meeting.
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