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TORONTO, March 7, 2013 /CNW/ - Parkside Resources Corporation (TSX-V: PKS) (the "Company") is pleased to announce that the first core samples from its 1,200 metre Winter 2013 drill program on its Forester Lake gold project have been received. Nine drill targets were identified after the compilation of data from over 8,200 metres of core from 78 previously drilled holes, with historic grades as high as 16 grams per ton, ground magnetic survey data, and reviewing the wealth of geological and structural knowledge from Goldcorp's Musselwhite Mine, 35km northwest of the Forester Lake property. The drill program is expected to be completed this spring, with assay results to follow.
Donald Goldman, President and CEO of Parkside Resources Corporation, commented, "This is an important day in the history of the Company and for its shareholders. We have followed through on our commitment to take the Company public, raise additional capital in a difficult financial market, and commenced our inaugural drill program to re-test two areas that produced historically high grade gold intercepts. We look forward to the release of the assay results."
In addition, Parkside Resources continues to market its $500,000 non-brokered private placement, comprised of issuing 4,000,000 Non-Flow-Through Units at $0.10 and 833,333 Flow-Through Units at $0.12. Both the Non-Flow-Through and Flow-Through Units come with a full Warrant with an exercise price of $0.20 for a 24 month period from the closing date of the private placement financing, which is projected to be on, or before, March 29, 2013.
About Parkside Resources Corporation
Parkside Resources Corporation is a Canadian based mineral exploration company dedicated to building shareholder value through focused exploration, discovery and development of high quality precious metal projects. The Company has entered into an Option and Joint Venture Agreement with Benton Resources Corporation to explore the Forester Lake Gold Property which is located approximately 100km north of Pickle Lake, Ontario and roughly 35km southeast of Goldcorp's Musselwhite Gold Mine. Incorporated in 2005 Parkside Resources Corporation is a reporting issuer in the provinces of British Columbia and Alberta, the common shares of which are listed for trading on the TSX Venture Exchange under the symbol TSX-V: PKS.
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 release.
Forward Looking and other Cautionary Information
This release includes certain statements that may be deemed "forward‐looking statements". All statements in this release, other than statements of historical facts that address exploration drilling, exploitation activities and other related events or developments are forward‐looking statements. 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 or developments may differ materially from those in the forward looking statements. Factors that could cause actual results to differ materially from those in forward‐looking statements include market prices, exploration and exploitation successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward‐looking statements.
SOURCE: Parkside Resources Corporation
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