Burnstone Reports First Assay Results from the 2012 Drill

Burnstone Reports First Assay Results from the 2012 Drill Program on
Tomichi Project; 318 Metres 0.261% Cu, 0.049% Mo, 4.09 g/t Ag, 0.258
g/t Re, (0.56% CuEq) 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/06/12 -- Burnstone
Ventures Inc. (TSX VENTURE:BVE) ("Burnstone" or the "Company") is
pleased to announce the assay results for the first three (3) holes
completed during the 2012 drill program. The 2012 drilling was
focused on the higher grade near surface portion of the Tomichi
Copper Deposit. The NI-43-101 Resource Estimate released in June of
this year confirmed that the Tomichi copper-molybdenum (Cu-Mo)
porphyry project in Gunnison County, south-central Colorado (the
"Project") currently contains 2.5 Billion lbs Cu, 552 Million lbs Mo,
30 Million oz Ag, 320,000 oz Au and 124,362 kg Re. 
Five holes totaling 1581 metres were completed in October 2012 within
the northeastern portion of the deposit. Results for the first 3
holes have been received and compiled as shown in the following
table. Also include are the historical results and the results from
the reassay program completed in 2011for this higher grade zone. 


 
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                                                                      %C
uEq
                                                                %CuEq    (i)
            From     To Interval    Cu    Mo    Ag    Au     Re    (i)   Cu/
DDH #          m      m        m     %     %   g/t   g/t    g/t Cu/Mo Mo/Ag
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TM-27-2012 20.50 338.00   317.50 0.261 0.049  4.09   (ii) 0.258  0.51  0.56
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TM-28-2012  4.60 300.00   295.40 0.288 0.042  1.91   (ii) 0.222  0.50  0.52
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TM-28a-2012 4.45 401.00   396.55 0.258 0.027  1.91   (ii) 0.129  0.39  0.42
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TM-05      20.12 328.27   308.15 0.244 0.050                      0.5      
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TM-05-2011 20.12 328.27   308.15 0.217 0.040  1.76 0.015  0.158  0.42  0.44
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TM-07       4.27 441.05   436.78 0.261 0.026                     0.39      
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TM-07-2011  4.27 441.05   436.78 0.256 0.024 1.819 0.027  0.133  0.38  0.41
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TM-08       9.76 420.73   410.98 0.251 0.036                     0.43      
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TM-08-2011  9.75 499.87   490.12 0.245 0.035 1.728  0.02  0.192  0.42  0.44
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TM-09      10.06 357.93   347.87 0.312 0.057                      0.6      
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TM-09-2011 10.06 357.93   347.87 0.295 0.063 7.853 0.033  0.301  0.61  0.72
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TM-10       8.23 263.41   255.18 0.294 0.062                     0.61      
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TM-10-2011 11.28 263.41   252.13 0.281 0.061 2.197  0.02  0.327  0.59  0.62
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TM-15      21.34 337.41   316.07 0.217 0.059                     0.51      
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TM-15-2011 21.34 337.41   316.07 0.211 0.058 1.357 0.014  0.265   0.5  0.52
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TM-16      33.54 303.96   270.43 0.117 0.060                     0.42      
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TM-16-2011 33.53 303.89   270.36 0.122 0.064 1.061  0.01  0.385  0.44  0.45
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(i)  %CuEq is based on $3/lb Cu, $15/lb Mo, $25/oz Ag.
(ii) No Au analyses were carried out on the 2012 drilling.

 
Drill hole TM-27 was collared at the same location of TM-09 (a 1980's
hole drilled by Moly Corp.), and drilled at an azimuth of 90 degrees
and a dip of -45 degrees. This hole was successful at confirming
continuity of high grade mineralization of the 250 metres between
holes TM-09 and TM-10. Holes TM-28 and TM-28a were collared from the
same drill pad approximately 300 metres southeast of TM-27. TM-28 was
a vertical hole and TM-28a was drilled at an azimuth of 65 degrees
and a dip of -55 degrees. Both of these holes were targeted to test a
new area to the northeast towards historical holes T-5C and T-8C to
test a portion of the deposit that was not included in the 43-101
resource estimate. 
The resource estimate was completed by Geosim Services Inc. as
summarized in the News Release dated June 26th 2012 and the full
Technical report is a
vailable on Sedar. The following Table shows the
tonnages and grades for the Tomichi Project at a range of Copper
Equivalent cutoff grades (COG%). All of the 2012 drilling was carried
out within the area of the 0.50%CuEq resource. 


 
TOMICHI INFERRED MINERAL RESOURCE - TONNES & GRADE
---------------------------------------------------------------------------
COG %          Tonnes       Cu       Mo       Au       Ag       Re  CuEq (%)
CuEQ            000's       (%)      (%)    (g/t)    (g/t)    (g/t)     (ii)
---------------------------------------------------------------------------
0.10          698,503    0.171    0.037    0.015     1.38    0.185     0.38
0.20          622,429    0.182    0.040    0.016     1.50    0.200     0.41
0.30          506,513    0.197    0.044    0.018     1.69    0.221     0.45
0.40          334,320    0.216    0.048    0.019     1.93    0.249     0.50
0.50          132,279    0.237    0.058    0.020     2.30    0.294     0.57
---------------------------------------------------------------------------
(ii) CuEQ = %Cu +%Mo x 5 + g/t Au x 0.681 + g/t Ag x 0.012.
Rhenium values have not been used in the cutoff grade or Cu Equivalent
calculations.

 
Doug Fulcher, President and CEO of the Company, stated, "We are
pleased to report the results from the first drill program on Tomichi
since the NI 43 - 101 resource was completed in June of this year.
Burnstone is also the first company to conduct any exploration on the
project since the early 1980's when it was last drilled by Moly Corp.
This drill program continues to show the continuity of the higher
copper moly grades from surface and confirmed the continuity of the
mineralization between wide gaps in the historic drilling." 
ABOUT BURNSTONE 
The Company has an option to earn a 100% interest in the Tomichi
copper-molybdenum (Cu-Mo) porphyry Project in Gunnison County,
south-central Colorado. The Tomichi Project is located within the
Colorado Mineral Belt and was initially worked on in the 1950's by
Climax Molybdenum Co. and more recently, in the 1980's by Molycorp
Inc. No work was carried out between the 1982 drill program and the
2012 Burnstone program. 
Mineralization at Tomichi is a typical porphyry deposit characterized
by disseminated and fracture controlled molybdenite and chalcopyrite
hosted by a mid-Tertiary, potassic altered, intrusive system
dominated by a porphyritic quartz monzonite. The mineralized porphyry
is exposed at surface on top of Copper Hill. Diamond drilling
completed by Molycorp Inc. in the 1980s intersected copper-molybdenum
mineralization over a surface area in excess of 1500 metres by 800
metres, to a depth of at least 550 metres and remains open to the
north, east and at depth. 
The samples from holes TM-27, TM-28 and TM-28a were shipped from
Gunnison to the ALS Group - Kamloops Mineral Lab, where the samples
were prepped. Prepped pulps were then forwarded on by ALS to their
North Vancouver Laboratory where samples were analyzed for copper,
molybdenum, silver and rhenium along with 44 other elements by a
four-acid digestion ICP-MS and ICP-AES. 
Burnstone maintains a quality control program involving the use of
standards, blanks and duplicate samples randomly inserted within the
sample group at a 5% ratio to provide a check on assay lab data
quality. Copper, molybdenum, silver and blank standards were prepared
by CDN Resource Laboratory Ltd., Langley, B.C., Canada, or WCM
Minerals Ltd., Burnaby, B.C., Canada. 
Mr. James Chapman, P.Geo., is the Qualified Person responsible for
the design of the program, and all exploration work on the Tomichi
Project will be done under his supervision. Mr. Chapman has read and
approved the technical content of this news release. 
The Company also announces that in accordance with the policies of
the TSX Venture Exchange (the "Exchange"), the Company's 2012 Stock
Option Plan was approved by its shareholders at the Annual General
and Special Meeting held on September 5, 2012, and subsequently by
the Exchange. The Company has renewed its fixed plan and has
increased the number of shares reserved for issuance thereunder from
5,490,400 shares to 6,212,122 shares. 
The Company would also like to announce that it has set aside 400,000
incentive stock options to one of its consultants to purchase shares
of the Company at an exercise price of $0.13 per share for a period
of five years. 
On Behalf of the Board of Directors: 
Douglas Fulcher, President 
This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. All statements in this
release, other than statements of historical facts, that address
future production, reserve potential, exploration a
nd development
activities and events or developments that the Company expects, are
forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, and actual results or developments may differ
materially from those in the forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, exploration and
development successes, continued availability of capital and
financing, and general economic, market or business conditions.
Please see our public filings at www.sedar.com. 
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:
Burnstone Ventures Inc.
604-681-7733
www.burnstoneventures.com
 
 
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