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Adventure Gold Inc.: Adventure Gold Completes First Phase Exploration Work on Meunier-144, West Timmins Area

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  Published in Business and Finance on Tuesday, October 20th 2009 at 9:28 GMT by Market Wire
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MONTREAL, QUEBEC--(Marketwire - Oct. 20, 2009) - Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company"), has completed the first phase of exploration work on the Meunier-144 property located in the western part of the prolific Timmins gold camp which has produced more than 70M ounces of gold. The Company is fulfilling its first year work commitment of $150,000 over a five-year Option Agreement to earn a 100% interest in the property. To date, approximately $160,000 has been invested in compiling, prospecting, modelling and the drilling of 1,205 meters near surface. A second phase of deep exploration drilling for a total of at least 3,500 meters is planned to test the down plunge extension of the Timmins Mine Project (Mineral Reserves of 3.4 million tonnes at a grade of 7.5 grams per tonne - 812,000 ounces of gold) owned by Lake Shore Gold Corp., which is defined up to 475 meters east of our property boundary. The Meunier-144 property (figure 1, see Adventure Gold website) also adjoins the Thunder Creek property, a joint venture project between West Timmins Mining Corp. and Lake Shore Gold Corp., which encompasses the Rusk Zone where last summer's drill results returned up to 12.8 g/t Au over 83.4 meters.

The first drill program on Meunier-144, which consisted of three shallow holes designed to test five Induced Polarization (IP) anomalies, was completed during the summer 2009. One hole also tested the Bristol Fault rock package, a regionally extensive structure spatially related to the Timmins Mine gold deposit and associated with the Destor Porcupine Fault Zone. Drilling highlighted the presence of many quartz carbonates veins in mafic rocks associated with a major fault, which we interpreted as the South Bristol Fault rock package (figure 2). Hole M-09-03 intersected the Bristol Fault and investigated 150 m of this favourable assemblage. Holes M-09-01 and M-09-02 tested IP anomalies which have been explained by the presence of disseminated and stringer sulfides inside mafic flow breccias. Gold values from recent drilling did not exceed 0.1 g/t, a gold range which may indicate that we are approaching an ore zone like the Ultramafic Zone at the Timmins Mine Project. Accordingly, the 2010 follow-up drill program of 3,500 meters will require deeper drill-holes. It will include the deep extension of the Timmins Mine Project gold mineralized zones (figure 3) and the ultramafic north limb structure (figure 4) targets. The ultramafic north limb structure is the host of the Zone 17 (5 g/t Au over 5.4 meters) on the Cripple Creek property located 5 kilometers to the Southwest (Richmont Mines, press release dated September 23, 2009).

Marco Gagnon said: "The recent exploration work has provided us with the necessary geological and technical information in order to prepare our 2010 deeper drill program. Our three dimensional modelling of previous work, which includes Lake Shore Gold's public information, will be used to guide the next deep drill program."

Jules Riopel P.Geo. Vice-President Exploration and Acquisitions, who acts as the Company's "Qualified Person" as defined by NI 43-101, has reviewed this press release.

Profile:

Adventure Gold Inc. is a mining exploration company focused on discovering high quality gold deposits in the Abitibi greenstone belt located in north-west Quebec and north-east Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val-d'Or, Quebec and Timmins, Ontario areas and is led by determined management and technical teams with extensive exploration and mine production experience. The Company will be active in 2009 with $1,150,000 slated for exploration in the Val-d'Or and Timmins regions and will continue to aggressively seek new properties in compliance with the corporate strategy.

Neither 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.