International Samuel Exploration Acquires Jewelry Box Property
INTERNATIONAL SAMUEL EXPLORATION CORP.
8th Floor, 700 West Georgia Street Vancouver, British Columbia V7Y 1G6 Tel: (604) 718-5454; Fax: (604) 646-2054
[email protected]; www.internationalsamuel.com
NEWS RELEASE
International Samuel Exploration Acquires Jewelry Box Property
August 22, 2011 International Samuel Exploration Corp. (ISS: TSX-V) (the “Company”) is pleased to report that it has entered into an option agreement to acquire a 100% interest in the Jewelry Box property, located in central British Columbia.
The Jewelry Box property is located some 45 kilometres SSE of the town of Smithers, British Columbia. The claim block covers an area of some 8668 hectares. Access to the project is by way of road and cat trail, or by helicopter.
The claim block covers multiple Minfile occurrences with the most notable being the Jewelry Box and Ridge showings, which historically yielded grab samples up to 41 g/t and 18.3 g/t gold respectively (Aris Reports 19293 & 20391) along with significant silver and copper values. Both showings are proximal to a major NNE trending structure, separated by some 1.2 kilometres.
Widespread anomalous gold and copper values can be observed in historic rock/soils/silt samples throughout the northern portion of the property where the majority of the work has been focused. A regional stream geochemistry silt samples some 4 kilometres downstream from known mineralization also returned 0.260 g/t (1.910 g/t duplicate) gold.
In 2010, a single line induced polarization survey yielded a broad chargeability anomaly associated with increased resistivity some 500 metres to the east of the Jewelry Box showing. This anomaly remains open to the west and to depth and is of interest.
The company intends to conduct an additional 20 line kilometres of induced polarization and soil geochemistry and trenching covering favourable zones as defined by historic data. Permitting for ground work and a drill program is underway.
The Company is purchasing a 100% right, title and interest in and to the Jewelry Box, JBR1, JBR2, and Ridge Moly Claims for a total of $130,000, the issuance of a total of 1,100,000 common shares and the Vendors will retain a 2% net smelter return royalty (“NSR”). The Company shall retain the right to purchase a 1% portion of the NSR from the Vendors at any time by the payment of Cdn. $1,000,000.
The transaction is subject to the acceptance of the TSX Venture Exchange.
Technical information in this news release has been reviewed by Derrick Strickland, P. Geo., a qualified person as defined in NI 43-101.
On another matter the Company announces the appointment of Kinder Deo as Chief Financial Officer.
Kinder Deo holds a Bachelor of Technology degree in Physics, from the University of Bradford (UK), and a Master’s Degree in Business Administration, from City University, Washington. Mr. Deo has over 30 years of experience in Information Technology (IT) within government and private industry. He is experienced in Supply Chain and Financial Systems, Strategic Planning, Project Management, Business Operations, and Financial Reporting. He has also been a Session Instructor at Douglas College, BCIT, and Simon Fraser University.
ON BEHALF OF THE BOARD OF DIRECTORS
Conrad Swanson, President and CEO
For further information, please contact: [email protected]
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.
Safe Harbor Statement: The Company relies upon litigation protection for “forward-looking statements.” The Company undertakes no obligation to update these forward- looking statements in the managements beliefs, estimates obligations or other factors should change.