Homestake holds an option to acquire a 100% interest in the 623-square-kilometre Kinskuch project, located adjacent to, and to the southeast of, the Homestake Ridge project. Diamond drilling along the Illiance trend on the Kinskuch property during 2011 was successful in intersecting high-grade silver/lead/zinc VMS mineralization in three of four holes. Surface soil and rock-chip sampling along the trend in 2012 extended mineralization to a 4.5 kilometre strike-length; Homestake will be aggressively exploring this trend in 2013.
Homestake owns a 10.19 percent equity interest in Bravada Gold Corporation (TSX.V-BVA). Bravada is exploring and developing numerous gold/silver projects in several of Nevada's prolific gold belts, including the past-producing Wind Mountain project in the Walker Lane Gold belt and the past-producing Quito project in the Austin Gold belt. At the advance-stage Wind Mountain project, an independent engineering firm has calculated a 43-101-compliant resource estimate and demonstrated a positive PEA for an open-pit/heap-leach operation. Bravada is currently conducting additional exploration at Wind Mountain under a funding and option agreement with Argonaut Gold Corporation.
Robert Macdonald (P.Geo) is the Qualified Person as defined by National Instrument 43-101 for the Homestake Ridge project and has reviewed and approved the technical contents of this release.
ON BEHALF OF THE BOARD
Joseph A. Kizis Jr., President and Director
(1) AgEq - is calculated using the approximate three-year trailing average for the precious and base metals. Ag-$23, Au-$1350,-Cu-$3.50, Pb-$0.95 and Zn-$0.85. The AgEq calculation does not account for relative metal recoveries, which are unknown at this time.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Homestake Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Homestake Resource Corporation
1-888-456-1112 or 604-641-2773
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