The majority of soil samples have been assayed at the ALS Chemex laboratory, Perth, Australia. More recent soil sampling programs have been assayed at the SGS managed laboratory at Chelopech in Bulgaria using a combination of ICP-OES and ICP-MS, whereas gold has been assayed by low level detection fire assay method (50 gram sample charge) with an AAS finish. Trench samples were prepared at the laboratory facility at SGS Bor and the samples have been assayed at the SGS managed laboratory at Chelopech in Bulgaria or the SGS managed laboratory facility at Bor. Diamond drill core has been prepared at the laboratory facility at Bor and assayed at the SGS managed laboratory at Bor. Trench and diamond drill samples have been assayed for gold by 50 gram fire assay with an AAS finish whilst copper, silver, lead, zinc and molybdenum have been analysed using an aqua regia digest with either an AAS or ICPMS finish. Following Dunav standard quality assurance procedures, a full suite of field and laboratory duplicates and replicates along with internationally accredited standards and blanks, have been submitted with each batch of samples.
Trench sampling was carried out as channels in the wall just above the trench floor on 2 meter intervals. Except where extensive soil cover is encountered, trenches were sampled in their entirety. The samples were routinely weighed prior to final bagging to maintain an even sample size and to avoid sampling bias in harder rock types. An average channel sample weight was maintained at 3 kilograms per meter, which produces a consistent sample weight approximating half HQ core samples. Field duplicate samples were taken every 20 samples and known standards were inserted into the sample stream after every 20th sample. A geological and structural log was completed as for diamond drilling. All data collected in the field was routinely entered into geology and structural geology spread sheets using Field Marshal software for subsequent entry to an acQuire database and validation.
The technical information contained in this press release was prepared and approved by Dr Julian F. H. Barnes, FAusIMM, MAIG, a special consultant to the Company. Dr. Barnes is a 'qualified person' within the meaning of that term under NI 43-101.
About Dunav Resources Ltd.: Dunav Resources is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Serbia. Dunav has recently announced the initial Kiseljak copper-gold mineral resource, part of the Tulare Copper-Gold Porphyry Project, which was prepared by AMC Consultants Limited (UK), an independent mining consulting firm. This initial mineral resource has been estimated at 300,500,000 tonnes grading an average of 0.27% copper and 0.26 g/t gold in the inferred resource category for 1.8 billion pounds of copper and 2.5 million ounces of gold, using a 0.25% copper equivalent cut-off.
Dunav had approximately $0.7 million in its treasury at January 31, 2013 and its issued and outstanding share capital totals 119,242,942 common shares, of which approximately 47.3% is held by Dundee Precious Metals Inc. On February 12, 2013, Dunav announced that it has entered into an agreement with Dundee Securities Ltd., on behalf of a syndicate of brokers under which they have agreed to offer for sale, on a best efforts private placement basis, 50,000,000 units of Dunav at a price of $0.30 per unit for gross proceeds of up to $15,000,000. The closing date of the offering is scheduled on or about March 6, 2013. There is no assurance that the offering will be completed in the amount or timing expected. Dunav's plans and objectives for 2013 are subject to completion of the private placement offering.
Additional information about the Company is available on SEDAR at www.sedar.com and at www.dunavresources.com.
This press release contains forward-looking statements and information. In particular, this press release contains statements concerning the completion of a private placement offering, exploration results and geological interpretation, planned exploration and development programs, and the geological and economic potential of Dunav's projects. Readers should not place undue reliance on forward looking information. By its nature, forward-looking information involves a variety of assumptions, known and unknown risks and uncertainties, and other factors, all of which may cause actual results or events to differ materially from those anticipated in the forward-looking information. Specifically, the Company's planned exploration and development programs depend on the ability of the Company to obtain additional financing and such plans may be delayed. Given the nature of capital market demand for speculative investment opportunities such as mineral exploration projects and current financial conditions globally, there is no assurance that additional financing will be available in the appropriate amount when required.
Although the Company believes, in light of all circumstances, that the expectations reflected in this forward-looking information are reasonable, the Company can give no assurance that they will prove to be correct. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
To view Figure 1 to 4 please click to the following link: http://media3.marketwire.com/docs/figure1-4.pdf
To Table 1 please click to the following link: http://media3.marketwire.com/docs/Table-1-Dunav.pdf
Neither the 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 press release.
Dunav Resources Ltd.
President and Chief Executive Officer
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