GTA Reports Gold Resource Estimate for the Afric Zone, Northshore Property

GTA Reports Gold Resource Estimate for the Afric Zone, Northshore Property
  
 

BURLINGTON, ONTARIO--(Marketwired - Jun 10, 2014) - GTA Mining and Resources Inc. ("GTA" or the "Company") (TSX-VENTURE:GTA) reports the results of an initial National Instrument 43-101 ("NI 43-101") mineral resource estimate for the Afric Zone on the Northshore Property located near Schreiber, Ontario, Canada. The Property is located in Priske Township, approximately 200 km east of Thunder Bay, and 100 km west of Hemlo, Ontario.

HIGHLIGHTS INCLUDE: (using a cutoff grade of 0.50 grams gold per tonne)

• Indicated Category: 391,000 ounces gold in 12,360,000 tonnes at a grade of 0.99 g/t gold

• Inferred Category: 824,000 ounces gold in 29,580,000 tonnes at a grade of 0.87 g/t gold

• All resources are open for expansion

The mineral resource estimates have been prepared by Mr. Gary Giroux, MASc., P.Eng. of Giroux Consultants Ltd., Vancouver, British Columbia, and Mr. Doug Blanchflower, P. Geo., of Minorex Consulting Limited, Aldergrove, British Columbia. Both Messrs. Giroux and Blanchflower are qualified persons, and are independent of GTA.

The resource estimate is based on a drilling database including a total of 13,777 samples from 100 diamond drill holes, representing approximately 19,448 metres of drilling. The drilling includes surface holes completed from the 1990s through 2013. Of these, 53 drill holes totaling 13,000 metres were completed by GTA from 2011 to 2013. The mineral resource is constrained by wireframes of the favourable host lithologies. Both the indicated and inferred resources were calculated using the GTA holes, as well as the historical data, which included drill holes completed since 1990. Some of the historic holes were not under the same "QA - QC" scrutiny as the GTA drilling programs. Gold grades were interpolated into 10-by-10-by-5-metre blocks using a combination of ordinary kriging ("OK") and indicator kriging ("IK") estimation methods.

Further details of the resource estimate, including inferred and indicated categories, and using cut-off grades ranging from 0.20 to 1.20 g/t gold are summarized in the following tables.

INDICATED RESOURCES (Afric Zone)

Cut Off Grade (g/t Au)	Tonnage	Gold Grade (g/t)	Contained Ounces
0.20	27,980,000	0.61	549,000
0.50	12,360,000	0.99	391,000
0.80	6,650,000	1.28	275,000
1.20	2,560,000	1.78	147,000

INFERRED RESOURCES (Afric Zone)

Cut Off Grade (g/t Au)	Tonnage	Gold Grade (g/t)	Contained Ounces
0.20	63,490,000	0.58	1,184,000
0.50	29,580,000	0.87	824,000
0.80	12,090,000	1.22	472,000
1.20	4,210,000	1.73	233,000

MINERAL RESOURCE NOTES AND PARAMETERS

1. A top cut of 180 gpt was applied to Au assays before compositing (only 2 samples were above the cap grade).

2. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing, or other relevant issues. Mineral resource estimate figures may not total due to rounding issues.

3. The quantity and grade of reported inferred mineral resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

4. The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council November 27, 2010.

5. Resources were estimated using 2.5-metre composites within a Block Model with block dimensions of 10x10x5m, and using a combination of ordinary kriging ("OK") and indicator kriging ("IK") grade interpolation method. Seven overlapping grade intervals were identified within the block model. The lower and higher grade mineralized intervals were subdivided at a statistically-determined grade of 1.4 gpt gold. Without comprehensive metallurgical results, recoveries were assumed to be 100%.

6. Mineral resources were classified as Indicated if estimated in the first two passes using search dimensions up to 1/2 the semivariogram range. A minimum of four composites from at least two different holes were required within the search ellipse to estimate a block. All other blocks were classified as Inferred.

GTA is encouraged with this initial resource estimate as it not only exceeds management's expectations, but it also exceeds the historical resources estimated by Noranda Explorations in the early 1990's. The above table shows both indicated and inferred gold mineral resources for the Afric Zone at various incremental gold cut-off grades. The cut-off grade of 0.50 gpt gold was highlighted as it is believed that this value represents a reasonable cut-off grade for exploiting a bulk tonnage gold deposit, such as the Afric Zone, located in northern Ontario with excellent existing infrastructure. The table also shows a cut-off grade of 0.20 gpt gold with an estimated contained inferred mineral resource of over 1.1 million ounces of gold (63,490,000 tonnes grading 0.58 gpt) and an indicated resource of over 0.5 million ounces gold (27,980,000 tonnes grading 0.61 gpt). These results clearly show that the Afric Zone is a significant, large intrusive-related gold system with a higher grade inner gold zone.

Gold mineralization within the Afric Zone is hosted within widespread sections of quartz carbonate, pyrite, tourmaline, sericite, (and localized potassic) altered felsic to intermediate intrusive and porphyritic rocks. These rocks exhibit brittle deformation and fracturing, and host quartz and quartz carbonate veins, veinlets, stringers and fracture infillings. These fracture infillings are mineralized with pyrite, with minor to trace amounts of chalcopyrite, sphalerite, galena, and molybdenite. Multiple occurrences of visible gold were observed in drill core from many of the holes drilled by GTA.

"We are very pleased with these initial resource estimates, as the data further strengthens our confidence in the Afric Zone, and allows us to advance to the next stage of evaluating options regarding exploiting the deposit," stated Wayne Reid, President and CEO of GTA. "This is the first time that a NI 43-101-compliant resource has been estimated on the Afric Zone, and we were able to complete this maiden resource in just over 2 years from the commencement of our initial drill program. Going forward, we will focus on expanding the zone and scoping out the economic potential of both the bulk tonnage Afric Zone and the near surface higher grade mineralization within the central part of the zone."

A copy of the full mineral resource estimate will be available in a NI 43-101-compliant report on the SEDAR website within 45 days of this press release. That report is being prepared by Doug Blanchflower, P.Geo. of Minorex Consulting Limited and Gary Giroux, MASc., P.Eng. of Giroux Consultants Ltd. The mineral resource estimates, which are effective today, are based on geological interpretations and data provided by the Company. Gary Giroux is an "independent qualified person" for the purposes of NI 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and has verified the mineral resource data disclosed in this release. Doug Blanchflower, P.Geo., of Minorex Consulting Ltd. and an 'independent qualified person" for the purposes of NI 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, has verified the sampling procedures and QA/QC data delivered to Giroux Consultants Ltd., and is of the opinion that the data are of good quality and suitable for use in the mineral resource estimates.

GTA's 2013 drill program also confirmed the presence of high grade gold mineralization in a vein system north of the Afric Zone, and south of the main Northshore Vein (underground workings). This recently discovered vein, termed the "Gino Vein", has not been included in the 2014 resource estimates.

Robert Duess, P. Geo., VP Exploration for GTA and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release. Messrs. Giroux and Blanchflower approved the disclosure of the technical information contained in this press release.

ABOUT GTA

GTA is a well funded publicly traded mineral exploration company. It is led by an experienced and successful management team and is focused on exploring for gold and graphite in Canada. GTA currently has three exploration focused projects in its portfolio. Its flagship project, the Northshore Property, located near Schreiber, Ontario, is subject to an option agreement with Balmoral Resources Ltd. (TSX-VENTURE:BAR) whereby GTA can earn up to a 70% interest. Secondly, the 100% owned Auden Property, is located near Hearst, Ontario and consists of 1748 claim units covering virtually an entire greenstone belt and hosting a number of graphite, gold, base metal and PGE targets. The third project, the Ivanhoe Property, is comprised of a large land package near the town of Foleyet in northern Ontario. The 94.6 sq. km. property is located between Probe Mines Limited's new gold discovery at Borden Lake and the prolific Timmins Camp.

GTA is a tightly held company having only 26,931,855 shares outstanding of which insiders control approximately 30% of the outstanding shares. The Company's shares trade on the TSX Venture Exchange under the symbol "GTA".

On behalf of the board of directors

GTA Resources and Mining Inc.

Wayne Reid, President and CEO

For more information, please visit the corporate website at www.gtaresources.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 press release.

This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, are forward-looking statements. 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. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

GTA Resources and Mining Inc.Wayne ReidPresident and CEO709 699 1733www.gtaresources.com