Parlane Resource Corp. (TSX VENTURE:PPP) ("Parlane" or the "Company") has
completed its 2012 soil, rock and stream sediment geochemical survey and an
induced polarization (IP) and magnetometer survey. Results from the program have
been received.


Field personnel have collected a total of 827 soil samples, 25 stream sediment
and 50 rock samples over 9 areas that returned anomalous results during the 2011
field season (see Parlane news release June 25, 2012 www.parlaneresource.com).
Results from this year's sampling have been received from an accredited
laboratory. In addition, a 14-line kilometre pole-dipole induced polarization
(IP) and magnetometer survey have been conducted over 9 zones and the results of
this survey have also been received.


Nine zones that were identified during the 2011 sampling program were targeted
for additional soil sampling this field season. Sample results supported
continued exploration in these areas including induced polarization and
magnetometer surveying. Four of the nine zones that were surveyed by IP produced
moderate to high chargeability, with moderate resistivity. The Chedakuz and
Chedakuz South zones, about 1 kilometre apart, both yielded moderate to high
chargeability of 20.9 - 41.7 mV/V, resistivity between 273 - 540 ohm-metre and
soil geochemical analyses ranging from less than 0.1 to 6.2 grams per tonne
silver and less than 0.5 to 334 parts per billion gold. An area approximately
100 metres by 200 metres, on the east side of the Chedakuz zone, contains
numerous boulders at surface that are mineralized with pyrite, sericite, epidote
and quartz: one of these float boulders assayed 2,502 parts per million zinc.
The Top Lake South zone contains high chargeability (31 - 51.2 mV/V) that
extends 600 metres east - west and a zone of sharp magnetic contrast (56200 to
57300 nT across 75 metres). Soil geochemical analysis in this area includes
values of less than 0.1 to 1.7, 1.9 and 2.0 grams per tonne silver along an E-W
soil line with 50-metre sample spacing. The Top Lake North zone contains an
80-metre wide east-west chargeability of 15.5 - 21.7 mV/V.


Robert Eadie, President & CEO, said the Company is encouraged by the results
obtained so far at the Big Bear property and looks forward to continued
exploration. Big Bear is permitted under the BC Mines Act for 10,000 metres of
drilling.


The property is located in the Omineca Mining Division, Nechako Plateau in
central British Columbia, approximately 100 kilometres south of Vanderhoof and
contains 14,366 hectares. It is located between two mineralized systems: New
Gold Inc.'s Blackwater and the Capoose properties. The Big Bear is highly
prospective for the discovery of similar epithermal, subvolcanic porphyry and
transitional mineralization.


Ian Webster, P.Geo., is the Qualified Person as defined by National Instrument
43-101 who has reviewed and approved the contents of this release.


The Company also reports that it is extending its agreement with Doug McKay &
Associates as its investor relations and corporate communications service
provider on the same terms as accepted by the TSX Venture Exchange in 2011,
which includes a monthly remuneration of $5,000 and stock options to acquire
324,950 shares in the capital of the Company at an exercise price of $0.15 for
one year.


ON BEHALF OF THE BOARD

Robert Eadie, President, Chief Executive Officer and Director
Prospector Metals (TSXV:PPP)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Prospector Metals Charts.
Prospector Metals (TSXV:PPP)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Prospector Metals Charts.