MISTANGO PROVIDES UPDATE ON EXPLORATION

KIRKLAND LAKE, ON, May 2 /CNW/ - Mistango River Resources Inc. (CNSX:MIS) is pleased to provide an update on the company's Omega Mine and Sackville properties.

OMEGA MINE 100% Owned

Gold located in the Kirkland Larder Lake area Ontario.
Linecutting, Magnetometer and deep penetrating Induced Polarization (IP) surveys have now been completed. The final reports on the geophysics have yet to be received, however, the raw data shows some encouraging IP anomalies within the old mine workings and in areas not previously mined and on the Lake claim part of the Omega Mine property. (Please see press release of December 9, 2010 for more details) All press releases are listed on the Company's web site.

The Company's goals at the Omega are to outline additional near surface gold mineralization ameanable to open pit extraction (average overburden depth is approximately 7 meters) and to locate and define by diamond drilling the potential of "Flow Ore" zone discovered within months of the mine closing. Additional work will be undertaken on the Lake Claim area to further define the potential of any identified targets.

MIS has secured two drills from Huard Drilling for the Omega and drilling is planned to start the third week in May 2011.

SACKVILLE PROJECT 100% Owned

Gold-Silver, Base Metals Located in the Thunder Bay Area

The Company has now completed a review of all the historic and most recent exploration work. The VMS boulders and original small discovery defined by follow up diamond drilling are not conductive and most likely are only detectible by IP surveying. Early till sampling by Andy Bajc of the Ontario Geological Survey 1999 and follow up sampling by the company led to the discovery of the high grade but small VMS discovery noted above.

MIS exploration plans on Sackville are to begin as soon as the conditions permit on a detailed till and Enzine Leach geochemical survey consisting of samples taken on a 200 meter by 50 meter grid. This work is expected to be completed by August.

One sample from the Calvert VMS boulder reported a grade of 15.99%Zn, 0.24% Cu, and 2.06% Pb, 192 g /t Ag and 3.5 g /t AU. Please see the companies 43-101 report filed on SEDAR or the company's web site for complete details of the boulder assays.

Goals for the Sackville project are to define hi priority geochemical targets to be followed up by drilling and or trenching.

Mistango River Resources is a Canadian-based junior mining and exploration company focused on existing projects in Ontario and Quebec. Mistango River Resources is listed for trading on the Canadian National Stock Exchange (the "CNSX") under the trading symbol "MIS".

The CNSX has not reviewed and does not accept responsibility for the adequacy of this release.

Forward-Looking Information

This news release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or developments that Mistango River Resources believes, expects or anticipates will or may occur in the future including, without limitation. These forward-looking statements reflect the current expectations or beliefs of Mistango River Resources based on information currently available to Mistango River Resources . Forward-looking statements are subject to a number of significant risks and uncertainties and other factors that may cause the actual results of Mistango River Resources to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Mistango River Resources . Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mistango River Resources disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Mistango River Resources believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

SOURCE Mistango River Resources Inc.

For further information:

Robert Kasner, President and CEO
Telephone: 1 705 567 5351
E-mail: kasner1@ntl.aibn.com
www.mistangoriverresources.com

Profil de l'entreprise

Mistango River Resources Inc.

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