Caerus Resource: 15,522 Hectares Solicited in Eight Areas in Colombia
Tel: 1-360-778-1360 837 Hastings Street West, Suite 408 Vancouver, BC, Canada V6C 3N6 www.resourceexploration.com [email protected] Symbol: CA:TSX-V
___________________________________________________________________________ NEWS RELEASE February 1, 2012
Caerus Resource: 15,522 Hectares Solicited in Eight Areas in Colombia
Vancouver, British Columbia – Caerus Resource Corporation (the “Company”) (TSX-V: CA) is pleased to announce the completion of title applications in Colombia. Over the past year, staff geologists have been evaluating various areas of mineral interest deemed open by the National Geological Service of Colombia (formerly Ingeomanis). A total of eight claim areas have been solicited in five different departments. The claim areas selected were located nearby known gold deposits. Total hectares solicited are 15,522.
Three areas are located in Antioquia and include the Yolombo Project (2,063 hectares), the Heliconia Project (4,291 hectares) and the La Ceja Project (3,962 hectares). Work to date has been completed on the following two areas:
Yolombo Project: 2,063 hectares located north of the Gramalote Gold Deposit (2.39 million troy ounce NI 43-101 compliant resource) of Anglo Gold / B2Gold, for which a 2012 $ 36.9 million prefeasibility budget was recently announced. The claim area is underlain completely by rocks of the Antioquia Batholith, and is crossed by east-west, northeast and southeast trending faults. Faulting is believed to be the control of mineralization at the Gramalote Gold Deposit. Geological reconnaissance comprising stream sediment sampling has been completed by Company staff. Results have identified gold and silver anomalies located in three distinct, non-adjacent areas. Follow up work is planned for the near future.
Heliconia Gold Project : 4,291 hectares located within the Cauca-Romeral Fault Zone, approximately 12 kilometers north along strike from the Titiribi District. The claim area is underlain on the west by the Arquia Complex of amphibolites and basic schists, and to the east by faults slivers of diorite, gabbro and sediments. Stream sediment sampling has identified three large zones anomalous for silver and gold. A follow up program is scheduled for the near future.
Other areas solicited include: the Filadelfia Project ( 495 hectares located in Caldas Department) and Anserma Project ( 105 hectares located in Risaralda Department), both located near the Batero / Seafield exploration areas. The Charala-Oiba Project ( 3,613 hectares located in Santander Department ). The Salento West Project ( 495 hectares) and the San Pacho South Project ( 498 hectares ) both located in Quindio Department and in the vicinity of the La Colosa disseminated gold deposit of AngloGold Ashanti. Additional field work is being planned.
Exploration Manager
The Company is pleased to announce the appointment of Christopher Baldys as Exploration Manager. Mr. Baldys has extensive experience in precious and base metals exploration, drill target definition and familiarity with the Colombian mining industry. He recently completed a National Instrument 43-101 Technical Report for Batero Gold Corporation on the Quinchia Concession in Colombia. Mr. Baldys has significant project experience, having managed several large drill programs which include:
IMA Exploration Inc.: The Hushamu copper-moly-gold-rhenium porphyry deposit, British Columbia Hard Creek Nickel Corporation: nickel sulphide deposit and PGE-Cu deposit, British Columbia Argosy Mining Corporation: epithermal gold deposit, Kremnica, Slovakia Central Asia Goldfields Corporation: mesothermal and epithermal gold deposits in Kazakhstan Kerr Addison Mines: generation of epithermal gold-silver targets in the Yukon Territory
Mr. Baldys has a M. Eng. degree from AGH University of Mining and Metallurgy, Cracow, Poland and is a member of the Association of Professional Engineers and Geoscientists of British Columbia, Canada. Mr. Baldys is a Qualified Person as defined under National Instrument 43-101.
Mr. Paul Pelke, consulting geologist and a Qualified Person under NI 43-101, has reviewed the content of this press release.
On Behalf of the Board of Directors of Caerus Resource Corporation.
Adrian F.C. Hobkirk, President and Chief Executive Officer - [email protected]
For further information, contact Adrian Hobkirk at 714-316-3272, toll free 855-894-4524 or email: [email protected] or Allan Feldman at AJF Consultants Ltd. at 604- 948-9663 or email: [email protected].
The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release. This news release contains certain “ forward- looking statements ” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.