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Assays from Gossan Hill Reveal 30.37 g/t Gold over 1.58 Metres

 

VANCOUVER, March 13, 2012 /PRNewswire/ - Callinex Mines (TSX.V: CNX) (OTCBB: CLLXF) is pleased to announce the receipt of the first assay results from this season's winter exploration program at its Gossan Hill property in Northern Manitoba near Cranberry Portage.

Intersections grading 19.88 g/t gold over 2.45 meters, and 3.77 g/t gold over 2.39 meters have been assayed in samples from four holes of the program. The program has drilled 20 holes to date, and additional assay work is being completed.

GOS 33 intersected the gold-bearing structure 45 metres down strike from previously drilled GOS 30, completed by Callinex in 2011 to intersect mineralization grading 4.21 g/t gold over 15.91 meters of core width. GOS 34 is the deepest intersection to date for the Gossan Hill Zone, which tested the structure 440 meters vertically from surface. GOS 36 and GOS 41 successfully extended the strike length of the gold bearing structure by 180 meters, 300 meters to the South of all previous drilling.

  From (m) To (m) Width (m) Au (g/t) Ag (g/t)
GOS 33 316.60 319.05 2.45 19.88 5.15
incl. 317.47 319.05 1.58 30.37 7.98
incl. 317.47 318.60 1.13 40.75 11.16
GOS 34 394.40 397.30 2.90 1.77 4.97
  473.82 476.21 2.39 3.77 1.27
GOS 36 152.81 156.78 3.97 2.21 15.94
incl 152.81 155.78 2.97 2.57 21.31
GOS 41 138.54 139.21 0.67 3.26 0.00
  142.00 144.70 2.70 1.71 0.00
"Width" represents core widths. True widths are approximately 60% of core widths.

More targets are being tested both along strike and down plunge of the known mineralization. The zone established by drilling at Gossan Hill is part of a 6 kilometer shear zone that includes a formerly producing gold mine. Two diamond drilling rigs are scheduled to continue work for as long as conditions permit.

Highlights of last winter's program include grades of 4.60 g/t gold and 15.13 g/t silver over 23.81 meters of core width, intersected in hole GOS28.

Callinex Mines maintained a QA/QC program at all stages of exploration. Drill core recovery was calculated, measured and recorded at the Gossan Hill Property before being cut and sampled. Samples were split in half, one half of each sample being kept for storage and the other half placed in a pre-labeled plastic bag, tagged with the sample number and recorded in the log. Callinex QA/QC samples were inserted into the group of samples and shipped to Acme Analytical Laboratories in Vancouver, BC, where they were crushed, split, and pulverized to 250 g samples at 200 mesh. Pulp samples were then assayed by Aqua Regia digestion ICP-ES analysis (24 elements) and assayed for gold and silver by fire assay method. The lab employs internal quality control by assaying pulp duplicates and inserting quality control standards of predetermined values and a blank sample.

On Behalf of the Board of Directors,

J.J. O'Donnell

J.J. O'Donnell

President and COO

All of Callinex's exploration programs are conducted under the direction of J.J. O'Donnell, P.Geo, a qualified person as defined by national instrument 43-101, who has reviewed and approved the contents of this release.

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.

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs. Callinex does not assume the obligation to update any forward-looking statement.

SOURCE Callinex Mines Inc.

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