Trueclaim Intersects 1.5 Metres of 94.5g/t Au at the Scadding Gold Project
Published : May 03, 2011
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Keywords :   Diamond | Gold | London | Market | Market Conditions |

LONDON, ONTARIO--(Marketwire - May 3, 2011) - Trueclaim Exploration Inc. ("Trueclaim") (News - Market indicators)(OTCQX:TRMNF) has completed approximately 700 metres of Diamond drilling in the New Zone on the Scadding Gold Property (the "Property").

The New Zone was initially discovered through Diamond drilling in 1997 by Currie Rose Resources Inc. In the summer of 2010, excavation work was done in the area exposing a trench containing auriferous chlorite breccia. In our current Phase II drilling program, seven drillholes were planned in the New Zone to evaluate the mineralization and determine the extent of the zone.

Significant intercepts from the New Zone are as follows:

Hole Interval Grade
      Length Au
Hole ID From (m (ft)) To (m(ft)) (m(ft)) (g/t)
TRM-11-18 52.00 (170.56) 55.70 (182.70) 3.70 (12.14) 12.30
Containing 52.83 (173.18) 53.50 (175.48) 0.67 (2.30) 24.01
  55.00 (180.40) 55.70 (182.70) 0.70 (2.30) 25.89
         
TRM-11-20 63.00 (206.64) 64.00 (209.92) 1.00 (3.28) 21.47
         
TRM-11-22 31.50 (103.32) 33.00 (108.24) 1.50 (4.92) 94.50
Containing 32.50 (106.60) 33.00 (108.24) 0.50 (1.64) 177.04
         
TRM-11-23 53.25 (174.66) 57.46 (188.47) 3.48 (13.81) 1.47

Mineralization in the New Zone is mineralogically similar to the gold bearing zones found in the North Zone and the South Zone. Assay values from this zone were significantly better than expected. The next step for the New Zone is to drill several oriented drillholes to determine the orientation of the mineralization.

Currently, the drill is in the North Zone completing the delineation program recommended by SRK Consulting, where 3,000 meters of drilling are planned for this portion of the Phase II program.

The Company holds the Property under option from Currie Rose Resources Inc. and has the right to earn a 100% working interest in the property.

We seek safe harbour.

TRUECLAIM EXPLORATION INC.

John Carter, President

Technical information in this news release has been reviewed by Mr. Bob Komarechka, P. Geo., acting as a consulting Project Geologist for the Company and prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. Trueclaim's quality control and assurance program includes the insertion of standards and blanks, the retention of ½ of the cut core that has been sampled, pulps and rejects, and uses a independent certified lab, Accurassay Laboratories of Thunder Bay, ON. Samples are sent for fire assay and if warranted for ICP. Assays of significance are reassayed using screen metallics to ensure accurate values. Company Management, which takes full responsibility for content, prepared this news release.

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the proposed Diamond drilling program. All statements in this news release, other than statements of historical facts, which address future production, reserve potential, exploration activities, financing plans, objectives or goals, and events or developments that the Company expects, are forwardlooking statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding its ability to complete its exploration and development work as expected. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of the Company's continued development work, technical, safety or regulatory issues, market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Actual results or developments may differ materially from those projected in the forwardlooking statements, as assay intervals might not necessarily represent true width. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company's projects to other projects. Also, in order to proceed with the Company's exploration and acquisition plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Trueclaim Exploration Inc.
John Carter
President
519-913-8008
1-888-686-1405 (FAX)
www.trueclaimexploration.com

Trueclaim Exploration Inc.

EXPLORATION STAGE
CODE : TRM.V
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Trueclaim is a gold exploration company based in Canada.

Its main exploration properties are SANDEB PROPERTY and EAST WANAPITEI (SCADDING PROPERTY) in Canada.

Trueclaim is listed in Canada. Its market capitalisation is CA$ 2.1 millions as of today (US$ 1.6 millions, € 1.4 millions).

Its stock quote reached its highest recent level on January 15, 2010 at CA$ 2.54, and its lowest recent point on April 22, 2016 at CA$ 0.01.

Trueclaim has 21 305 588 shares outstanding.

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