Encore Renaissance to Acquire Property
in Handeni Region of Tanzania
Encore Renaissance Resources Corp. (TSX VENTURE: EZ) (PINK SHEETS: ERRCF) (FRANKFURT:OUH1) (the "Company") wishes to announce that it has entered in an option agreement with and arms-length vendor to acquire a 50% option in the Handeni East Prospect in the direct vicinity of Canaco Resources in Tanzania. This prospect is 50.5 square kilometres.
Michael Mulberry, president of Encore stated, "This is a significant acquisition for Encore. Tanzania has garnered a tremendous amount of global attention in the past year especially in light of the major discovery made by Canaco Resources (CAN-TSX.v). Canaco has seen its shares trade from .36 cents this past year to a high of 6.22 on December 31, 2010. We are excited about the close proximity of this prospect to Canaco and look forward to getting on the ground as soon as possible to start operations.
Based on the consultants of Encore's due diligence on visits to the property, they report that the artesianal miners have found "abundant" gold from the workings which in some cases were only 2-3 days old and several quartz veins up to 10 cm thick in a dark mafic amphibolitic rock have been seen. The structure of the veins appears to parallel the foliation but some low angle crosscutting features were observed. The strike of the zone appears to be NNW, and like the Magambazi zone which can be seen to the SSW, is associated with a resistant "knob" standing above the surrounding plain. This is the first of at least 3 resistant knobs that are found on the property and require detailed investigation. At this time no actual quantities of gold can be verified.
In conjunction with proposed transaction the company is planning to complete a 10 million share private placement at 10 cents for gross proceeds of 1 million dollars. This placement will have full warrants exercisable at 12 cents for 5 years. A finders fee may be payable.
The content of this release has been reviewed and approved by Lawrence Stephenson, PGeo, a qualified person as defined by National Instrument 43-101.
"Michael Mulberry"
Michael Mulberry
President and Director
For more information:
Tel: 360 389 1196
604 818 1706
Email: info@encorerenaissance.com
Head Office Address
Encore Renaissance Resources Corp.
Suite 809 - 27 Alexander St , Vancouver, BC, Canada, V6A 1B2
