THUNDER BAY, ON, Aug. 22, 2012 /CNW/ - Kesselrun Resources Ltd. (TSXV:KES) (the "Company" or "Kesselrun"), is pleased to announce that it has acquired additional mining claims adjacent to its Bluffpoint project ("Bluffpoint") located in Northwest Ontario.
A further 47 mining claims covering 11,168 hectares were staked as a result of evaluation of preliminary results of the summer exploration program.
The 2012 summer exploration program continues with the goal to follow up and expand on previous work to better define drill targets for a forthcoming drilling program this fall. Previous work by Homestake Canada Ltd. (now Barrick Gold Corporation) recognized the potential for the Bluffpoint project to host a large tonnage, granite-hosted gold deposit.
Michael Thompson, P.Geo., President & CEO of Kesselrun stated, "The recent acquisition of mining claims covers on strike targets generated as a result of the evaluation of our preliminary results of our exploration program. We are very excited at the potential the Bluffpoint project holds and are looking forward to advancing the project to the drill ready stage."
Kesselrun's flagship Bluffpoint Project now consists of 103 mining claims covering 22,576 hectares in Northwest Ontario's Wabigoon Subprovince, host to several recent gold discoveries such as Osisko's (TSX:OSK) Hammond Reef Project and Rainy River's (TSX:RR) Rainy River Project. Accessible year round by a network of well-maintained logging roads, Bluffpoint offers low cost exploration in an emerging prolific gold district.
Michael Thompson, P.Geo., President and CEO of Kesselrun, is the Qualified Person responsible for the Bluffpoint project and has approved the technical information in this news release.
About Kesselrun Resources Ltd.
Kesselrun Resources is a newly formed Thunder Bay, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun's management team possesses strong geological and exploration expertise -- with particular experience in Northwest Ontario -- as well as significant capital markets and business know-how. For more information about Kesselrun Resources, please visit our website at www.kesselrunresources.com.
Forward Looking Statements
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, including without limitation, the private placement, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that may cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com.
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.
SOURCE: Kesselrun Resources Ltd.
For further information:
Kesselrun Resources Ltd.
Michael Thompson, P.Geo, President & CEO
Adam Rabiner, Corporate Communications
604.868.7881 or 1.866.416.7941