BUCHANS MINERALS STAKES GLOVER ISLAND GOLD CLAIMS

Trading Symbol: BMC - TSX-V
Shares Outstanding: 124,627,490

WINDSOR, NS, Jan. 18 /CNW/ - Buchans Minerals Corporation (BMC-TSX-V) ("Buchans Minerals") is pleased to announce the staking of 52 claims in central Newfoundland covering 13 km2 of prospective geology on strike and tied onto Mountain Lake Resources Inc.'s recently purchased Glover Island Gold project. The Buchans Minerals claims cover the geological extension of the same rocks that host anomalous gold mineralization on the Mountain Lake property, extending 3 kilometres to the northeast of Mountain Lake's claims.

Mountain Lake's property hosts several significant gold prospects over an 11 kilometre strike length, including drilled intercepts of 7.0 m averaging 11.4 g/t gold at the Lucky Smoke prospect, 16.7 m of 5.31 g/t gold at the LPSE Prospect, and 10 m of 4.93 g/t gold at Kettle Pond South. Buchans' property is very well situated, covering favourable geology less than 3 kilometres northeast and along strike of the Lucky Smoke prospect.

Non-NI 43-101 compliant resources have been calculated at the LPSE and Kettle Pond South Prospects, and Mountain Lake have recently announced that they intend to upgrade historical resources to NI 43-101 compliance standards, and drill additional prospects on the Property.

Buchans Minerals intends to conduct a preliminary prospecting program this spring. Results will be assessed to determine the scope of possible future programs. A map showing the location of the property is available  on the Company's website at http://www.buchansminerals.com

Qualified Person:
Paul Moore, M.Sc., P.Geo., (NL), Buchans Mineral's Vice President of Exploration, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy. Reported historical resources and assays for the Mountain Lake property have been obtained from archived historic assessment reports filed with the Newfoundland and Labrador Department of Mines and Energy including report number 012A/12/1222 by Victor French (New Island Minerals Limited), 1995. 

About Buchans Minerals:
Buchans Minerals is an Atlantic Canada based resource company focused on exploring and developing base metal and gold properties in the region, including its flagship project covering the historic base metal Buchans mining camp in central Newfoundland.

Forward Looking Statements:
Certain information contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Buchans Minerals (the Company) believes the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond its control, and that future events and results may vary substantially from what the Company currently foresees. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.


SOURCE BUCHANS MINERALS CORP.

For further information:

Buchans Minerals Corporation.
Warren MacLeod, President & CEO
Ph: (902) 472-3520
Windsor, Nova Scotia
www.buchansminerals.com
      Investor Relations:
The Howard Group Inc.
Jeff Walker
Toll Free: 1-888-221-0915
info@howardgroupinc.com

Organization Profile

BUCHANS MINERALS CORP.

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