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JMC

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Share Name Share Symbol Market Type
TSXV:JMC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Josephine Mining Corp. Announces Progress on the Turner Gold Project

26/04/2012 6:06pm

Marketwired Canada


Josephine Mining Corp. (TSX VENTURE:JMC) (the "Company" or "JMC") announces
progress on the Turner Gold project in southwestern Oregon, and an update on the
program going forward at Turner for Q2 to Q4 2012. The Company has been working
diligently for the past year to prepare for permit applications, further
delineate the mineral resource, and optimize plans for mining the Turner Gold
resource. Eleven core holes totaling approximately 12,000 feet of diamond
drilling provided infill information to be included in the next iteration of the
resource block model. It was also used as a source of new data for geotechnical
evaluations currently in progress and provided sample material for metallurgical
testing. Assays from core intercepts in the new holes were commensurate with
those collected in multiple prior programs. Details of the new drilling are
included in prior press releases that may be found on the JMC website:
www.josephinemining.com.


JMC intends to change the mining method from Avoca, as proposed in the 2010 PEA,
to post-pillar cut-and-fill. Both methods are dependent upon backfilling of the
underground mining void to maintain high levels of stability. Both methods
provide adequate support of the surrounding ground, but post-pillar is much more
flexible, allowing more selective recovery of the ore body, a factor which
should reduce dilution and optimize the recovered ore grade. CEO Robert L.
Russell said, "Our staff has been successful in employing the post-pillar method
in a number of mines in the US and abroad, and with good resource recovery and
low dilution. The method leaves little ground unsupported, and where employed,
has provided the safest possible working conditions."


The Turner project program has also concentrated upon consolidation of the
Company's land position, resulting in a tripling of acreage, all of which
remains on private ground. JMC is focused on making the final $1.35 million
payment to General Moly to complete the purchase of the Turner property.


The new drilling results have provided additional information that will be used
in refining our understanding of the Turner mineralization. Work has commenced
on an updated resource block model and on a geo-technical evaluation. Additional
metallurgical test work will be initiated shortly, using samples collected
during the 2011 drilling program. Environmental work continues in support of
ongoing permitting efforts. JMC will incorporate the results of this work into a
pre-feasibility study on the Turner project. The study is expected to be
completed during the first quarter of 2013. 


Disclaimer for Forward-Looking Information

This news release contains projections and forward-looking information that
involve various risks and uncertainties regarding future events, such as the
statements regarding mineralization and assay results. Forward-looking
statements consist of statements that are not purely historical, including any
statements regarding beliefs, plans, expectations or intentions regarding the
future. Such statements are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially from those
contained in the statements. No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if they do occur,
what benefits the Company will obtain from them.


These forward-looking statements reflect management's current views and are
based upon certain expectations, estimates and assumptions that may prove to be
incorrect. A number of risks and uncertainties could cause our actual results to
differ materially from those expressed or implied by the forward-looking
statements, such as the current economic conditions and the state of mineral
exploration and mineral prices in general. These risks and uncertainties could
cause actual results and the Company's plans and objectives to differ materially
from those expressed in the forward-looking information. The Company can offer
no guarantee that the goals and objectives detailed above will be accomplished,
in part or at all.


These forward-looking statements are made as of the date of this news release
and, except as required by law, the Company assumes no obligation to update
these forward-looking statements, or to update the reasons why actual results
differed from those projected in the forward-looking statements. Additional
information about these and other assumptions, risks and uncertainties are set
out in the "Risks Factors" section in the Annual Information Form of the Company
dated April 2, 2012 and available on www.sedar.com.


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