Flagship Iron Ore and Nickel Projects in World Class Mining District of Timmins Ontario
Rogue Resources Inc. is well positioned to discover and capitalize on world class gold, silver, copper, nickel, zinc, platinum and palladium deposits in North America.
Message: Rogue Resources Signs 10,000 Meter Drill Contract for
Radio Hill Iron Ore Property
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2011) - Rogue Resources Inc. (TSX VENTURE:RRS) (the "Company") announces it has signed a drill contract with Orbit Garant Drilling Inc. (TSX:OGD) for a minimum of 10,000 meters of drilling on the Company's flagship Radio Hill Iron Ore property, located 85 km southwest of Timmins, Ontario. Drilling is expected to be completed in 2011 and will culminate with an updated resource estimate on the Radio Hill historical resource*. The contract allows for a second rig to be added as needed.
"The Company's arrangement with Orbit Garant will allow us to keep on track with our objectives through the fall of 2011 and an updated resource in 2012," stated Steve de Jong, Company CEO. "Rogue is well financed for the upcoming program and we are working with consultants now to outline an aggressive exploration and resource definition campaign to bring the project to the next level. We expect to announce detailed plans for this program in the near future."
The Radio Hill historical resource* was developed in the 1960's by Kukatush Mining Corp. who spent an estimated $10 million on exploration and metallurgical work including one hundred and forty drill holes and a number of metallurgical studies. Following resource definition a feasibility study was completed by FENCO Ltd. after which a railway siding and grade from the CN mainline to the deposit were built, a distance of about 4 km.
The historical feasibility study indicated a 3.5 concentration ratio (3.5 tons of iron ore produced 1 ton of concentrate) which would produce a concentrate grade of between 66% and 68%. At the time recovery and pelletizing tests were also conducted which included laboratory and pilot testing of grinding, concentrating and pelletizing practices to a complete feasibility study of a Radio Hill pelletizing operation (Neal and Ridell, 1965).
The Radio Hill Project is located 85 km southwest of Timmins an area known for its excellent infrastructure and access to mining expertise. The properties excellent location is complimented by its easy access to rail, with the southern portion of the project being transected by the CN Railway mainline.
Freeman Smith, P.Geo. is the qualified person for the purposes of National Instrument 43-101 and has reviewed the technical contents of this press release.
*The historical estimates and feasibility values mentioned in this document are not in accordance with the mineral resources or mineral reserves classifications contained in the CIM Definition Standards on Mineral Resources and Mineral Reserves, as required by National Instrument 43-101 ("NI 43-101"). Accordingly, the Company is not treating these historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and such historical estimates should not be relied upon. A qualified person has not done sufficient work to date to classify the historical estimates as current mineral resources or mineral reserves. The term "ore" in this document is being used in a descriptive sense for historical accuracy, and is not to be misconstrued as representing current economic viability.
ABOUT ROGUE RESOURCES
In June of 2011 the Company completed a financing for $4,600,000 with the use of proceeds primarily allocated for exploration/resource definition at Radio Hill. Because of the advanced stage of the asset the Company's next milestone will be the completion of a NI 43-101 compliant,technical resource estimate.
In addition to the Radio Hill Project the Company has a 100% interest in Langmuir Nickel project which has NI 43-101 compliant resource estimate of 677,000 tonnes of 1.0% Nickel and 0.06% copper, Measured & Indicated, and 171,000 tonnes of 0.89% Nickel. The Company has contracted SRK Consulting Ltd. to complete a scoping study on the project which is now nearing completion of the metallurgical portion.
The Company also has several large land packages within the Abitibi Greenstone Belt of the Timmins Camp that host VMS, base metal and lode gold potential in addition to gold properties in the Kirkland Lake area and base metal properties in Bathurst, New Brunswick.
ON BEHALF OF THE BOARD OF DIRECTORS
Steve de Jong, President & CEO
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This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, any person in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Cautionary Note Regarding Forward Looking Statements:
Certain disclosure in this release, including statements regarding the use of the proceeds from the private placement, constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration activities, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
FOR FURTHER INFORMATION PLEASE CONTACT: Steve de Jong
Rogue Resources Inc.
President & CEO
(604) 229-0481 (FAX)
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