VISIBLE GOLD MINES DRILLS 2.2 G/T OF GOLD OVER 13.5 METRES AT SILIDOR AND PREPARES FOR MAJOR EXPLORATION PROGRAM AT FORMER PRODUCING JOUTEL PROPERTY

ROUYN-NORANDA, QC, June 16, 2011 /CNW Telbec/ - Visible Gold Mines Inc. (TSXV: VGD) (Frankfurt: 3V4) is pleased to provide an update on its exploration activities in the Abitibi Greenstone Belt of northwest Quebec where the Company expects to complete nearly 30,000 metres of drilling during the second half of this year on top of the 11,000 metres already drilled to date in 2011.

Joutel Project

Several high priority initial drill targets for the Company's flagship Joutel Project are being finalized with joint venture partner Agnico-Eagle Mines Limited (TSX: AEM).  A major exploration program will commence next month at Joutel with drilling scheduled from later this summer through the remainder of the year.  Visible Gold Mines is the operator of this project which comprises 800-square kilometres.  The large land package includes the former Eagle Ouest and Telbel deposits which produced a combined 1.1 million ounces of gold at a grade of 6.0 g/t from 1974 to 1993.  Approximately 300,000 ounces of silver were also recovered at a grade of 1.8 g/t (reference: Agnico-Eagle Mines Ltd, 2011).  The Company's drill program, under the direction of senior geologist Robert Sansfacon, will apply a fresh geological approach to Joutel with the goal of outlining a multi-million ounce system.

"Our geological team has already spent a substantial amount of time reviewing this project given the very extensive and interesting historical data available on Joutel," stated Martin Dallaire, Visible Gold Mines' President and CEO.  "They are many untested areas of merit and we look forward to making Joutel a key focus of our exploration and corporate strategy to build shareholder value over the second half of the year.  We're in a strong cash position with $6.5 million in the treasury at the moment."

Silidor Project

Visible Gold Mines is pleased to report assay results from the balance of Phase 1 drilling at its 100%-owned Silidor Gold property just a few kilometres west of Rouyn-Noranda.  A total of 28 holes have been completed (8,000 metres) in an effort to define new structures surrounding the former Silidor Mine, an historical small producer.

Significant assay results for DDH no.11 to 28:

 
Hole No From (m) To (m) width (m) Au (g/t)
(11) SI-11-17 264.25 265.75 1.50 2.93
(12) SI-11-12 114.05 115.00 0.95 4.80
(13) SI-11-11 124.85 125.95 1.10 2.34
(14) SI-11-05b 56.55 58.20 1.65 5.12
  106.95 108.45 1.50 6.06
(15) SI-11-20 0.00 162.00 162.00 trace
(16) SI-11-22 94.20 96.00 1.80 1.08
(17) SI-11-39 121.25 122.60 1.35 4.19
(18) SI-11-29 302.00 303.00 1.00 0.90
(19) SI-11-24 0.00 266.35 266.35 trace
(20) SI-11-24b 0.00 310.00 310.00 trace
(21) SI-11-35 345.30 345.80 0.5 6.18
  354.75 355.63 0.88 3.15
  439.79 440.39 0.60 3.17
(22) SI-11-33 328.22 329.22 1.0 0.73
(23) SI-11-26 261.10 261.65 0.55 46.10
(24) SI-11-28 369.85 371.35 1.50 1.23
  377.35 377.95 0.60 5.13
(25) SI-11-40 429.00 430.00 1.00 3.00
(26) SI-11-41 434.70 435.70 1.00 2.25
  577.80 579.00 1.20 2.26
(27) SI-11-23     assays pending
(28) SI-11-30* 67.25 69.30 2.05 4.64
  137.00 150.5 *13.50 2.20

*  Additional drilling will have to be done to determine the true thickness of mineralized zone.

Cadillac/Lucky Break Projects

Assay results are pending for three holes completed at the Cadillac/Lucky Break property, approximately one kilometre south of Vantex Resources' Moriss Zone discovery at its Galloway Project in Dasserat Township, 30 kilometres west of Rouyn-Noranda.  The holes were drilled to vertical depths of 657 metres, 715 metres and 1,181 metres, respectively.  Drilling has moved eastward and one hole has now been completed near Lake Donez in an area with some historical surface gold showings that has never been previously drilled.  It's located nearly five kilometres southwest of Richmont Mines' Wasamac deposit that contains a NI-43-101 all-category resource of 1.4 million ounces of gold as reported by Richmont Mines on February 17, 2011. 

Visible Gold Mines has an option to earn a 60% interest in the Cadillac/Lucky Break projects from Cadillac Mining.  The nearly 8,000 hectare land package covers more than 20 kilometres of the prolific Cadillac Break and is situated in and peripheral to the Noranda basin where gold was produced primarily from VMS deposits that include the world class Horne Mine.

Stadacona Property

An exploration program including definition drilling is slated to commence by month-end at Visible Gold Mines' Stadacona deposit in the vicinity of Rouyn-Noranda.  The Company released an initial NI-43-101 resource estimate for Stadacona in April of this year which outlined an inferred resource of 980,000 tonnes grading 5.19 g/t Au.

Qualify Person
This news release was written by Martin Dallaire, P.Eng. President and Chief Executive Officer of Visible Gold Mines and approved by Robert Sansfaçon, P.Geo in his capacity as a qualified person (QP) under NI 43-101.  

Quality Control
Visible Gold Mines has implemented and adheres to a strict Quality Assurance/Quality Control for the present drill programs. It includes one mineralized gold standard, one duplicate and one blank for one batch of samples. Analyses are performed by ALS Chemex, Val-d'Or, or Techni-Lab, Ste-Germaine - Boulé, accredited laboratories.

About Visible Gold Mines
Visible Gold Mines Inc. is a dynamic company aggressively searching for the next important gold deposit in northwestern Quebec, an area consistently ranked as one of the world's best jurisdictions for mining and exploration. Visible Gold Mines is in the midst of a $6.5 million, 40,000 metres drill program covering strategic areas in the Rouyn-Noranda mining region. The Company has no debt and its current cash liquidity is approximately $6.5 million.

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 the release.

 

SOURCE VISIBLE GOLD MINES INC.

For further information:

Martin Dallaire, President and Chief Executive Officer
Telephone: 819-762-0609, Fax: 819-762-0097
E-mail: mdallaire@visiblegoldmines.com
Website: www.visiblegoldmines.com

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VISIBLE GOLD MINES INC.

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