Masuparia Gold Corp Provides Progress Report on JV Properties by 24hgold

Mots clés associés : Canada | K Street | Report |

Re: News - Thursday, August 15, 2013
Title: Masuparia Provides Progress Report on JV Properties

NR: 13-05

Masuparia Gold Corporation (TSX.V: MAS) ("Masuparia" or the "Company") is pleased to update our shareholders on activities and progress being made on the Saskatchewan Gold properties (LRSG JV) held in JV with Golden Band Resources. The Company has served notice to our JV partner that we have fulfilled our earn-in obligations. Masuparia remains as operator during the exploration phase on all the properties.

In our last release of May 13, 2013, the Company reported on the grade and anticipated tonnage achieved from the Greywacke North bulk sample. Haulage of the sample was halted due to spring break up after approximately 6,000 tonnes of the estimated 18,900 tonnes were moved and stockpiled at the Jolu mill site. A wetter than normal spring-summer has slowed down the work on the improvement of the access trail. The road is now upgraded and hauling to the highway junction has commenced. Once completed, highway haul will move the material to the mill site. The bulk sample will be processed through the mill as a batch scheduled for September. The Jolu mill has recommenced operations, after a shut down for maintenance and specific upgrades, at a rate of 500 t/day.

During this period of stock market turmoil, the Company has been focusing its efforts on completing the bulk sample and continuing with the environmental studies and other activities necessary to achieve development approvals for the Greywacke North deposit. Application for drill permits for the detailed drilling of the Greywacke North deposit as well as to advance the Greywacke and Lyons zones are underway. It is anticipated that the permits will be in hand in sufficient time to commence a fall drilling program. The regional potential of this project is considered excellent, however the Board has decided that financing in these current market conditions would be unnecessarily dilutive to our shareholders. We forecast the net revenue from the bulk sample will support ongoing work programs. Some images of the stockpile and bulk sample site have been added to the Company's website.

On the North Lake project as reported in the release of February 12, 2013, a potential bulk mineable gold deposit was identified in the historical drilling. A program is currently under way to split and assay remaining core that was not assayed previously. The historic work sampled one unit completely, but only assayed six samples from the other lithologies present. Approximately 1,300 metres of core are being assayed and the Company has submitted permit applications for 3,500 metres of drilling for 23 drill holes in two phases at the deposit. At the same time, focused mapping and prospecting is being undertaken on the on-strike potential that appears open from historical work. The actual drill priorities may be subject to change as a result of the additional assaying.

On the Preview Lake project, reconnaissance results and airborne survey data have been integrated into reports. In addition, we are recompiling the drill results at the Point Deposit at Ramsland Lake. At present, 40 historical drill holes outline the mineralized system. Assay results are being tabulated and will be presented on our web site with appropriate sections and plans. Although we have excellent files on the results in our data base prepared by Cameco, the core storage area was destroyed by a forest fire. Two drill holes remain intact in their entirety (RM-31 and RM-37) stored at the core library facility in La Ronge.

Upon completion of the compilation work and detailed review of the remaining core, it is anticipated that further drill investigation will be required. Additional drilling will be completed on all three joint venture projects prior to commencing new resource estimates. At this time only the Greywacke North deposit has a 43-101 compliant resource estimate. This resource does not include all the drilling nor the channel sample or bulk sample results. The Company looks forward to an active fall-winter during which our projects will be advanced. The Company also continues to actively review other strategic opportunities within Saskatchewan and other jurisdictions.

Mike Jamieson, P.Geol., of Taiga Consultants Ltd., has acted as the Qualified Person as defined in National Instrument 43-101 for this disclosure and has approved the technical information contained in this release.

About Masuparia Gold
Masuparia Gold Corporation is a Canadian mineral exploration company focused on grassroots exploration projects with world class potential. Masuparia currently is the Operator of a joint venture (LRSG JV) in the La Ronge Gold Belt of Saskatchewan with Golden Band Resources on three properties: Greywacke Lake, Preview Lake and North Lake. The Company believes the Greywacke Lake gold project to be an excellent regional exploration opportunity within the large 5,786 hectare project area. The Greywacke North deposit is at an advanced stage with several known high-grade gold-bearing zones and a NI 43-101 compliant Indicated Mineral Resource of 184,000 tonnes at 8.40 g/t Au plus an Inferred Mineral Resource of 58,000 tonnes at 7.29 g/t Au (at a cut-off of 5 g/t Au) (NI 43-101, Wardrop 2008).

On Behalf of the Board of Directors of
Masuparia Gold Corporation

Ron Netolitzky, President & CEO

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the future exploration plans and mining operations for the JV projects, the sufficiency and availability of capital and financing and other future plans, objectives or expectations of Golden Band Resources Inc. (Company) are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of operations, current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company. The Company makes all reasonable efforts to update its corporate information on a timely basis.

Masuparia Gold Contacts: Tony Perri - Investor Relations at 604-685-8592 Or Raju Wani of Wani Capital at 403-240-0555
Suite 611, 675 W. Hastings Street Vancouver, British Columbia, Canada V6B 1N2
Tel: 604-685-8592 Fax: 604-669-2543 Website: www.masupariagold.com

Copyright � 2013 MASUPARIA GOLD CORPORATION (TSX-V: MAS) All rights reserved. For more information visit our website at http://www.masupariagold.com/ or send email to info@masupariagold.com ..
Message sent on Thu Aug 15, 2013 at 7:22:03 AM Pacific Time

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