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NEWS RELEASE
New High Grade Copper-Gold-Silver-Molybdenum Discovery at Metla Project - Northern British Columbia
Samples Return up to 4.2% Copper, 0.68% Molybdenum, 1.92 g/t Gold and 94.0 g/t Silver
February 9, 2012 - Vancouver, B.C. Ocean Park Ventures Corp. ("Ocean Park" or the "Company") (TSX-V: OCP) is pleased to announce that it has discovered a new zone of high grade copper-gold-silver-molybdenum mineralization at the Metla project, part of Ocean Park's 250 square kilometre contiguous land position which also includes the Trapper project, northern British Columbia. Prospecting and mapping in late summer 2011 discovered a copper-gold-silver-molybdenum mineralized system with a 4 square kilometre footprint that remains open to extension. Significant sample results are summarized in the table below.
Table 1: Highlighted grab sample results collected from the Metla Property in summer 2011
A total of 76 grab samples of bedrock and float were taken across a four square kilometre area , returning highly anomalous copper, gold, silver and molybdenum. Copper values range from below detection limits to 4.2% copper. Molybdenum values range from below detection limits to 6780 ppm (0.68%) molybdenum. Silver values range from below detection limits to 94.0 g/t silver, and higher values are generally associated with increased molybdenum. Gold values range from below detection limits to 1.92 g/t gold.
Within the four square kilometre area, a 1.3 kilometre by 700 metre zone of enriched molybdenum, copper, silver and gold has been discovered, returning an average of 422 ppm molybdenum (0.042% molybdenum), 0.35% copper, 14.0 g/t silver, and 0.19 g/t gold. This zone remains open to extension within a recently deglaciated valley with limited bedrock exposure, containing variable till cover including altered and mineralized float. The dimensions of the zone are defined by bedrock mapping, and hence the total size of the mineralized system may be larger beneath the glacial sediments.
Mineralization at Metla is associated with a broad hydrothermal system that has previously been reported to contain gold-mineralized sulfide-bearing breccias, one of which is mapped across a 150 metre by 200 metre exposure and has returned 4.7 g/t gold over a 9 metre chip sample. The newly discovered copper-gold-silver-molybdenum zone is located immediately south of these breccias, demonstrating a multi-kilometre mineralized system with significant size and grade potential.
All targets at the Metla project will be drilled in 2012. Ocean Park's 250 square kilometre Trapper district contiguous land position includes the Trapper, Golden Fleece, Argonaut, Mega and Metla claim groups. The claim block contains numerous mineralized zones, including the recent drill discovery of gold-and copper mineralized porphyry and a 2.3+ kilometre striking gold-silver-base metal mineralized structural system with visible gold at the Trapper project.
Mr. Chris Taylor, M.Sc. P.Geo, is Vice President Exploration with Ocean Park and is the Qualified Person as defined by National Instrument 43-101, who supervised the preparation of the above information.
For further information please contact Mr. Paul Matysek, M.Sc. P.Geo, acting President and Chairman or Mr. Chris Taylor, M.Sc. P.Geo, Vice President Exploration at 604-681-0084.
OCEAN PARK VENTURES CORP.
On behalf of the Board
"Paul Matysek"
Paul Matysek, Acting President and Chairman
About Ocean Park Ventures
Ocean Park is a well-funded Canadian mineral exploration company working in three leading jurisdictions, with active exploration including Diamond drilling underway on 3 properties. Ocean Park can earn a 70% interest through its joint venture in the Trapper Gold project, northern British Columbia, where Ocean Park has identified a gold-copper porphyry complex with a surface signature of over 15 square kilometres and visible gold in drill core. The Company can earn up to a 100% interest in the Metla property, located 5 kilometres south of Trapper, through its earn-in agreement. The Company can also earn up to a 70% interest through its joint venture in the Chisna Gold project, south-central Alaska, where a 12+ kilometre gold-in-bedrock and soils target has been identified returning results as high as 260 g/t gold, the Golden Range. A 75% interest can be earned through its joint venture in the Adelita Copper-Gold-Silver project, Sonora, Mexico, where a 10+ square kilometer polymetallic soil anomaly having a porphyry signature includes a copper-gold-silver mineralized, drill-tested skarn.
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. This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
For more information, please contact:
Robert Orr, Investor Relations
Ocean Park Ventures Corp.
Tel: 604.681.0084
www.oceanparkventures.com
info@oceanparkventures.com
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