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Tue, July 6, 2010

REC Minerals: Exploration Program at North Nonacho Completed


Published on 2010-07-06 05:10:34 - Market Wire
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TORONTO, ONTARIO--(Marketwire - July 6, 2010) - REC Minerals Corp. ("REC" or the "Company") (TSX VENTURE:REC) is pleased to announce that it has completed an initial exploration and drill program (the "Program") at its North Nonacho Property (the "Property") located in the Northwest Territories, Canada. The Company has an option to acquire up to a 100% interest in the Property.

The Program, which cost approximately $100,000 to complete, was comprised of ground evaluation, hand stripping and surface chip sampling in areas of high total magnetic anomalies identified from the high resolution airborne geophysical survey completed over the Property in 2008.

In addition to the surface exploration work, four short BQ type holes (48 mm diameter holes) were drilled to test the targeted favourable areas using a JKT 48 Winkie type portable drill and coring system. The drill core recovered from the Program is being logged, sawn in half and sampled, and will be submitted for geochemical analysis along with the chip samples.

Based upon fieldwork completed on areas of exposed outcrop on the Property, a number of anomalously high magnetic areas were found to host encouraging iron, manganese, and copper oxide and sulphide mineralization. One 125 by 40 metre area of high outcrop exposure on the Property was found to exhibit a showing of abundant malachite and lesser azurite type copper-oxide staining with disseminated and fracture filled chalcopyrite plus lesser bornite and possible chalcocite mineralization. Sixty chip samples were gathered over the showing area in order to evaluate the extent and consistency of the observed mineralization. In addition, two drill holes, which tested this target area, recovered core intersections exhibiting similar types of mineralization.

The mineralization appears to be hosted in highly brecciated, sericitized, and silicified sedimentary rocks containing quartz veining, disseminated pyrite, specular hematite, manganite and fluorite. The exposed mineralization appears to be open in at least two directions into overburden covered areas. REC believes that the observed mineralization is consistent in terms of style and setting to that of iron oxide copper gold deposition.

"We are excited about completing the initial exploration and drill program at our North Nonacho Property, and hope that it leads to the discovery of potentially significant copper and precious metal mineralization," said Kabir Ahmed, Chairman, President and CEO of REC.

Depending on the geochemical analytical results of the Program, the Company may conduct a follow-up program of ground induced polarization (IP) surveys and diamond drilling of the mineralized showings and other favorable high magnetic anomalies on the Property.

Trevor Boyd, Ph.D., P.Geo., a qualified person as defined by National Instrument 43-101 ("NI 43-101") and a member of the board of directors of REC, supervised the preparation of the technical information contained in this press release in compliance with NI 43-101. Dr. Boyd is also the President and a director and the controlling shareholder of Millennium Minerals Limited which has granted to REC the option to earn a 100% legal and beneficial interest in the Property.

ABOUT REC

REC is a junior mineral exploration company with an experienced management team engaged in the acquisition, exploration and development of properties for the mining of precious and base metals and uranium. The principal property of REC is the Yukon Olympic Property, comprised of 272 quartz mining claims in the Dawson Mining Division, Yukon Territory, Canada, which is prospective for iron oxide, copper and gold mineralization and in which REC holds an option to acquire up to a 65% interest. The Corporation also holds an option to acquire a 100% interest in the North Nonacho Property comprised of two mining claims covering 60 units in the vicinity of Nonacho Lake, Northwest Territories, Canada, an option to acquire a 100% interest in the MC Dalhousie Property comprised of two mineral claims located in northwestern British Columbia, Canada, and an option to acquire a 100% interest in the Esten Property comprised of a 26-claim unit block located 10 km south of Elliott Lake, Ontario, Canada. The common shares of REC trade on the TSX Venture Exchange under the stock symbol "REC". The Company has 16,575,000 common shares issued and outstanding.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of REC or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of REC with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in REC's prospectus and in other continuous disclosure documents that will be filed by REC from time to time with the Ontario Securities Commissions which are available at [ www.sedar.com ] and to which readers of this press release are referred for additional information concerning REC, its prospects and the risks and uncertainties relating to REC and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of REC to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, REC cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

The forward-looking information contained in this press release is current only as of the date hereof. REC does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

No securities commission or regulatory authority has approved or disapproved the contents of this press 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.

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