May 13, 2010 Yale Samples Bonanza Grade Silver At Guadalupe Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) is pleased to report that the first field program, performed on behalf of partner Silver America Inc., at the wholly owned Guadalupe Property located in Zacatecas State, Mexico, has confirmed the project's significant potential by returning bonanza grade silver results. Highlight results from the program are:
The program consisted of geological mapping, locating historic workings, and sampling. Of the 46 samples taken 10 (or 22%) returned values greater than 200 g/t silver, 18 (or 39%) returned greater than 100 g/t silver, and 27 (or 59%) returned greater than 34 g/t silver. In addition, each of the veins sampled returned at least one sample grading greater than 100 g/t silver. To date, four sub-parallel veins have been identified within the northern portion of the Guadalupe property. Highlights from the sampling these veins are:
Due to a greater amount of overburden, there is much less outcrop in the southern portion of the property. Sampling, therefore, concentrated predominately on mineralized dumps located at or near the historic workings. These initial results indicate that there is a higher gold to silver ratio in the south of the property. Mineralized dumps sampled in the south of the property returned the following results:
Of note, the dumps that were sampled are associated with historically significant mines within the property - the San Antonio and Santa Rosa located in the southern portion of the property. Records indicate that these two mines reached depths of 270 metres. To earn a 90% interest Silver America will be required to pay Yale US $ 900,000 cash, spend US $ 2,000,000 on exploration expenditures and issue 1,000,000 shares to Yale in staged payments over four years. Yale will act as the operator for the project. The minimum work commitment before June 30, 2011 is US $ 400,000 including a minimum of 2,000 metres of drilling. Should the earn-in be completed Yale will retain a 10% participating interest in the property as well as a 2% NSR, which can be bought out in entirety for US $ 2,000,000. About Yale Resources: Yale Resources is an exploration and development company concentrating in northwestern Mexico that is building value through project generation. Yale has three of its seven properties optioned out to value added partners. These agreements combine for minimum commitments of approximately US $1,100,000 of exploration expenditures over the next 12 months. Yale continues to work on its non optioned properties as well as reviewing new projects with a focus on gold. Samples from the Guadalupe property were prepared and analyzed by Stewart Labs in their facilities in Mexico and Kamloops, respectively. Samples generally consisted of 1-3 kg of material. Gold and silver analyses were performed by 30 gram fire assay with an AA finish. Samples with greater than 100 g/t silver were re-assayed using gravimetric methods. Ian Foreman, P.Geo., is Yale Resources' Qualified Person, as defined by National Instrument 43-101, for the Guadalupe property. The Guadalupe property is an early stage project with no reported resources that requires additional sampling and geological mapping to fully determine the project's potential. On behalf of the Boards, "Ian Foreman" Ian Foreman, P.Geo. President For additional information on Yale Resources please call the Company at 604-678-2531. 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. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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