Endurance Gold Corporation (EDG - TSX.V) is pleased to announce that the company has staked 19 additional Alaska State mineral claims to increase the size of the property to 33 claims (4,620 acres). The company and Liberty Gold Corporation ("Liberty") have also approved proceeding with an approximate US $190,000 exploration program for the Company's McCord Creek Property gold project in central Alaska's Tolovana Mining District. Crews have now been mobilized and have commenced the sampling program. Endurance is managing the 2012 exploration program and Liberty is funding 2012 activities on the McCord property.
The Company has granted Liberty an option to earn a 60% joint venture interest in the McCord Creek Property. Liberty must complete US$600,000 in exploration expenditures and make US$85,000 in cash payments over three years to earn a 60% joint venture interest. The 2012 agreed program is budgeted at about US $190,000 and includes additional power auger assisted soil sampling, rock sampling, possible trenching and geophysics, with the objective of defining drill targets for the 2013 field season.
The McCord property is located in the eastern extension of the Livengood gold district and immediately adjoins International Tower Hill's ("ITH") Livengood Property on the eastern side. ITH have reported in-situ measured and indicated resource (at 0.22 grams per tonne cut-off) of 16.5 million ounces of gold (see the ITH website for complete disclosure).
As reported on April 24th, 2012 a program of grid-based and power auger assisted soil sampling was completed on the McCord Property in 2011. Soil sampling identified five gold-in-soil anomalies. The two largest soil anomalies, exceeding 10 parts per billion ("ppb") gold, are 850 by 250 metres, and 650 by 200 metres in size. The maximum soil value exceeds 100 ppb gold.
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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results. Robert T. Boyd, P.Geo., President, CEO and Director, is a qualified person as defined in National Instrument 43-101 and supervised the compilation of the information forming the basis for this release