Oceanus Implementing Phase I Exploration Program at Lac Megantic, Quebec

Trading Symbol: TSX-V: OCN

HALIFAX, Nov. 15, 2011 /CNW/ - ceanus Resources Corporation ("Oceanus") is pleased to announce that it has commenced the Phase I exploration at its wholly-owned gold and base metal property located at Lac Megantic, Quebec.

The Lac Megantic property is underlain by a 75 km northeast-southwest trend of prospective sedimentary and volcanic units. Mineralized trends were established from historic results for both precious and base metals. A detailed airborne geophysical survey was carried out and identified a series of parallel and alternating magnetic high and lows, as well as curvilinear magnetic signatures typical of volcanic-intrusive sequences.

The Phase I program involves the following particular activities:

  • Field program involving geological mapping and prospecting, grab sampling, assaying and lithological/alteration detailing;
  • Data compilation and synthesis of historical and new data and information; and,
  • Target prioritization for further follow up work.

The work is being carried out under the supervision of Jean Lafleur, P. Geo of PJLEXPL Inc.

The Lac Mégantic Property is located about 70 kilometers southeast of the mining town of Thetford Mines in the Eastern Townships of Quebec.  The Lac Mégantic Property is composed of 622 claims covering approximately 36,651 ha or 366.5 km2.

This press release was prepared under the supervision of David R. Duncan, P. Geo., who is a Qualified Person as defined under National Instrument 43-101. Mr. Duncan has reviewed the scientific and technical information in this press release.

About Oceanus Resources Inc.

Oceanus Resources Inc. (TSX-V: OCN) is a precious metals junior exploration company, whose corporate strategy is to build shareholder value through the exploration and development of economically viable mineral properties in North America.  For more information visit: www.oceanusresources.ca

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SOURCE OCEANUS RESOURCES CORPORATION

For further information:

Richard Gordon, President, Oceanus Resources Inc., T: 902 491-4272, F: 902 446-2001.

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OCEANUS RESOURCES CORPORATION

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