Masuparia Announces Preview Lake Exploration Update

Masuparia Announces Preview Lake Exploration Update 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/29/12 -- Masuparia
Gold Corporation (TSX VENTURE:MAS) ("the Company") is pleased to
provide an exploration update on the Preview Lake Project on which it
has an agreement to acquire 50% of Golden Band Resources' 100%
interest as part of the expanded La Ronge South Gold Joint Venture
(LRSG JV) (see news release of April 2, 2012). Please visit our
website to see the property locations at www.masupariagold.com. 
The current exploration program, which has completed approximately
70% of Masuparia's buy-in obligation, has been under the supervision
of Mike Jamieson, P. Geol. of Taiga Consultants Ltd., a qualified
person. A component to Golden Band's purchase arrangement with Cameco
for the property was the delivery of the technical files. These
technical reports document historic exploration expenditures in
excess of $25.1 million by Cameco and their joint venture partners.
Because these files were in paper format, to facilitate their access
and utilization, they have been digitized through the services of
Taiga Consultants Ltd. Government geological mapping and the high
resolution topographic base for the project have been obtained,
including a tabulation of all historical mineral occurrences filed
with the Government.  
To assist in the compilation and prioritization of exploration
targets, a summer 2012 prospecting and geological examination of
historical targets was undertaken. In addition, the LRSG JV acquired
high-resolution aeromagnetic coverage of the project at a line
spacing of 75 metres. A combination of all the above will form the
basis of a new comprehensive report outlining exploration targets and
their priorities.  
Preliminary results have already outlined targets of interest which
are highlighted below: 
Duck Lake Occurrence (Claim S-6924) 
This was a Cameco discovery that had been sampled and trenched but
not drill tested. Gold mineralization is associated with vein quartz
and a sheared gabbro. Historical sampling returned values up to 2.35
oz/t gold.  
Prospecting samples from this year confirmed the mineralization with
the following grab sample results: 


 
                        Au g/t
M-12-002                  0.56
M-12-003                 13.89
M-12-004                  3.98

 
Ramsland Lake Occurrence (Claim S-101681) 
This occurrence has been the subject of extensive historical
trenching and diamond drilling by Cameco and others. Records for 33
diamond drill holes are available. Recent forest fires have destroyed
the core racks and boxes thus precluding additional sampling of the
core. This occurrence will require some confirmatory drilling. 
Prospecting samples from this season's work confirm the significance
of the target with results of: 


 
                        Au g/t
E-12-001                  4.97
E-12-008                  3.70
N-12-005                 72.91

 
Joe Occurrence (Claim S-112379) 
This Cameco discovery is situated north and on trend with the Preview
SW project discovery by La Ronge Gold Corp. Historical surface
sampling yielded assays up to 33.67 g/t Au. The occurrence was tested
by Cameco with one drill hole (PRV-97-39) which yielded an
intersection of 6.01 g/t Au over 3.2 m approximately 30 metres below
the surface mineralization. This year's prospecting samples confirmed
the location of known surface mineralization and additional zones,
located to the west of the previously known occurrences, with grab
samples of: 0.220, 0.230, 0.540, 1.30 and 23.53 g/t Au. 
The LRSG JV option- joint venture arrangement was concluded
subsequent to Golden Band's original purchase of the Preview Lake
Project. A 5% net profit interest royalty in favour of Vern Studer
exists on mineral claims S-112379, S-112380, S-112381, and S-112382
and a 1% gross revenue royalty in favour of Antoine McKenzie exists
on mineral claim: S-101681. In consideration of 50% of Golden Band's
66.67% interest in the Preview Lake property, Masuparia has paid
Golden Band the sum of $278,400 and issued 75,000 common shares. The
remaining 33.33% interest was acquired in a subsequent arrangement by
paying the vendors their JV portion of $61,579. Masuparia is the JV
Operator, paying 100% of the exploration costs in the first year's
exploration program, for a minimum expenditure of $300,000;
thereafter each party will pay its pro rata 50:50 share of all
expenditures. 
Mike Jamieson, P.Geol., of Taiga Consultants Ltd., has acted as the
Qualified Person as defined in National Instrument 43-101 for this
disclosure and has approved the technical information contained in
this release. 
About Masuparia 
Masuparia Gold Corporation is a Canadian mineral exploration company
focused on grassroots exploration projects with world class
potential. Masuparia currently has a joint venture (LRSG JV) in the
La Ronge Gold Belt of Saskatchewan, with Golden Band Resources on
three properties: Greywacke Lake, Preview Lake and North Lake. The
Greywacke Lake gold project, which is believed to have bulk mineable
potential, is at an advanced stage with several known high-grade
gold-bearing zones and a resource estimate on the Greywacke North
Zone of 184,000 tonnes at 8.4 g/t Au (NI 43-101, Wardrop 2008).  
On Behalf of the Board of Directors 
Masuparia Gold Corp. 
Ron Netolitzky, President & CEO 
Neither TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release. 
Contacts:
Masuparia Gold Corporation
Tony Perri
Investor Relations
604-685-8592
604-669-2543 (FAX)
www.masupariagold.com 
Wani Capital
Raju Wani
403-240-0555