Ryan Gold Announces Drill Results on Flume Property

Ryan Gold Announces Drill Results on Flume Property 
TORONTO, ONTARIO -- (Marketwire) -- 11/06/12 -- Ryan Gold Corp. (TSX
VENTURE:RYG), "Ryan Gold" or the "Company") announces drill results
from the nine diamond drill hole (2,307m) program on the Flume
Property, where the company is in the process of earning a
51-per-cent interest from Bearing Resources Ltd. (TSX VENTURE:BRZ). 
Summary of Drill Hole Results - Flume 


 
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Drill Hole             NORTHING        EASTING        AZIMUTH          INCL.
(#)                       (UTM)          (UTM)      (degrees)      (degrees)
                                                                            
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FL12-001                 547694        7037166            132            -50
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FL12-002                 547903        7036932            131            -50
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FL12-003                 548353        7036552            131            -50
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FL12-004                 548589        7036308            132            -50
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FL12-005                 548806        7036087            131            -50
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FL12-006                 549336        7036125            132            -50
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FL12-007                 549470        7035599            129            -50
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-------------------------------------
                                                                            
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FL12-008                 548405        7036300             45            -50
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FL12-009                 548354        7036484             45            -50
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Drill Hole                                     MINERALISATION             Au
(#)                        FROM             TO       Interval          (g/t)
                            (m)            (m)            (m)               
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FL12-001                 180.00         181.00           1.00           1.23
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FL12-002                                              No Significant Results
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FL12-003                  82.30          83.00           0.70           1.42
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                          89.50          90.30           0.80           1.04
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                          92.00          93.00           1.00           2.25
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FL12-004                                              No Significant Results
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FL12-005                                              No Significant Results
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FL12-006                  32.00          34.00           2.00           5.76
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FL12-007                  67.00          68.20           1.20           1.11
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                          74.50          75.30           0.80           1.42
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                         185.50         186.62           1.12           1.57
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FL12-008                  97.50          99.50           2.00           1.35
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FL12-009                  49.00          50.00           1.00           0.74
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The Flume property lies approximately 60 kilometres southwest of
Dawson City in the Yukon Territory and is in the heart of the
gold-rich 10-Mile River placer district. In 2010 and 2011, the
Company completed soil sampling programs on the Flume Property. A
detailed magnetic and radiometric airborne survey was flown in 2010.
Results of the soil geochemical surveys and the airborne magnetic
survey have revealed an approximately 2.5 km long northwest trending
soil anomaly, greater than 100 ppb Au, that is coincident with
magnetic structural features. Smaller northern gold-in-soil anomalies
are also present in the area of confluence between the Ten Mile and
Flume Creeks. The larger southern anomaly was the focus of the 2012
diamond drill program, with all nine holes spaced over the anomaly.
Seven of the holes were drilled in alignment of the main soil
anomaly, while the final two (FL12-08 and FL12-09) were oriented with
a northeasterly azimuth in order to intersect the structures
highlighted in the geophysics, thought to be regional scale fault
zones. (Please see map at:
http://media3.marketwire.com/docs/RYG_Flume_20121030.jpg)  
Drilling revealed complex geology consisting of highly strained
metasediments, high grade metamorphic rocks, intrusive dykes and
volcanic horizons. Although sulphide mineralisation was common
throughout the core, this seems to be a late stage overprinting and
was not associated with gold mineralisation. The assay results are
now being studied in tandem with the core logs to try and better
understand the controls on the gold mineralisation.  
QA/QC 
In total 2,906 drill core samples from Flume have been sent for
geochemical analysis. Drill cores for assaying were taken at a
maximum of three metre intervals in the weathered zone, but
predominantly at 1 metre intervals. Drill core was cut with a diamond
saw with one-half of the core placed in sealed plastic bags. Sealed
plastic sample bags were placed in a security sealed bag and
delivered to ALS Chemex ("ALS Chemex") in Whitehorse, Yukon
Territories. Here the entire sample was crushed passing minus 2mm,
from which a 250g split of the crushed sample was pulverized passing
minus 75 micron. Pulp samples of 100g were shipped to ALS Chemex
Vancouver where the samples were analysed for gold by fire assay
using a
 50g aliquot with an ICP finish. An additional 0.5g sample
analysed by aqua regia digestion was analysed for gold and an
additional 51 elements with an ICP-MS finish. 
As part of the Company's QA/QC procedures, internationally recognised
standards, duplicates and blanks were inserted into the sample
batches. ALS Chemex is an ISO 9001 registered laboratory and has a
quality control program in place which includes the insertion of
standard, blank, and duplicate samples, as well as conducting repeat
analyses. 
The exploration program was supervised by Andy Randell, Acting Chief
Geologist of Ryan Gold. Ian Gendall, Pr.Sci.Nat., is providing his
expertise as the qualified person within the definition of that term
in NI 43-101. Mr. Gendall has also reviewed the technical information
in this news release.  
Corporate Update  
The Company has terminated its option on the Fifty Mile Project.  
About Ryan Gold Corp.  
Ryan Gold Corp. is an exploration company focussed on gold
exploration primarily in the Yukon Territory, Canada. The Company is
well funded and has a large land package of over 400,000 hectares
comprised of over 70 different properties. The company's flagship
property is Ida Oro. During the summer of 2010 a soil sampling
programme completed on Ida Oro revealed a significant, greater than
100 ppb Au, gold-in-soil anomaly over an area of 4 km by 1.2 km. In
2011 the Company completed an 11 hole drill campaign for a total of
2,854 m. The Company has completed its 2012 drill programs on the Ida
Oro and Flume Properties, and continues to systematically explore a
number of its other properties. 
This press release contains forward-looking statements within the
meaning of applicable securities legislation. Such statements
include, without limitation, statements regarding the future results
of operations, performance and achievements of the Company, including
potential property acquisitions, the timing, content, cost and
results of proposed work programs, the discovery and delineation of
mineral deposits/resources/reserves, geological interpretations,
proposed production rates, potential mineral recovery processes and
rates, business and financing plans and business trends. Although the
Company believes that such statements are reasonable, it can give no
assurances that such expectations will prove to be correct.
Forward-looking statements are typically identified by words such as:
believe, expect, anticipate, intend, estimate, postulate and similar
expressions, or are those, which, by their nature, refer to future
events. The Company cautions investors that forward-looking
statements by the Company are not guarantees of future results or
performance, and that actual results may differ materially from those
in forward-looking statements as a result of various factors,
including, but not limited to, variations in the nature, quality and
quantity of any mineral deposits that may be located, significant
downward variations in the market price of any mineral that may be
produced, the Company's inability to obtain any necessary permits,
consents or authorizations required for its activities, to produce
minerals from its properties successfully or profitability, to
continue its projected growth, to raise the necessary capital or to
be fully able to implement its business strategies. All of the
Company's public disclosure filings may be accessed via www.sedar.com
and readers are urged to review these materials, including any
technical reports filed with respect to the Company's mineral
properties. This press release is not, and is not to be construed as
an offer to buy or sell securities in the United States. 
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. 
Contacts:
Ryan Gold Corp.
David Schmidt, Interim CEO
(604) 639-3119
www.ryangold.com
 
 
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