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MHC Match Capital Resources Corp

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Share Name Share Symbol Market Type
Match Capital Resources Corp TSXV:MHC TSX Venture Common Stock
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Match Capital Intersects Broad Copper-Nickel-PGE Mineralization

24/10/2011 2:00pm

Marketwired Canada


Match Capital Resources Corporation (TSX VENTURE:MHC) "Match" or "Company is
pleased to announce drill results for the Indian Lake North property located
about 75 kilometers northeast of Schefferville Quebec. 


The property is located approximately 20 kilometers north of the Blue Lake
deposits owned by Lafosse Platinum. The Blue Lake "deposits" are disseminated to
massive copper-nickel-platinum-palladium bearing sulphide lenses well documented
in various reports by government and independent geologists. 


Three holes intersected broad zones of significant mineralization. Hole ILN-01
was continuously mineralized over 25.5 meters with a copper equivalent of 0.51%.
Hole ILN-04 intersected mineralization over 41.5 meters with an average grade of
0.33% copper equivalent. Hole ILN-05 was continuously mineralized over 35.0
meters with a copper equivalent of 0.57% (see technical information below).


"We are very excited about the results of the summer drill program." said
Elizabeth Kirkwood, President and CEO of Match. "We look forward to planning and
carrying out further programs on the Property."


Future work will include geophysical surveys to outline the mineralized zone and
further drilling to expand the zone.


Technical Highlights

A total of 1,173 meters were drilled in 9 holes. The target of the drilling was
copper, nickel, cobalt, platinum group mineralization hosted by peridotite sills
that have intruded sediments and volcanics of the Thompson Lake formation. The
property is located approximately 20 kilometers north of the Blue Lake deposits
owned by Lafosse Platinum. The Blue Lake deposits are disseminated to massive
copper-nickel-PGE bearing sulphide lenses well documented in various reports by
government and independent geologists. 


The total historical tonnage and weighted average of the four main Blue Lake
deposits, plus smaller lenses at Blue Lake is 4.03 Mt at 0.85% copper, 0.52%
nickel and 0.84 g/t combined platinum and palladium. These figures do not
represent a resource as defined by National Instrument 43-101, and should not be
relied upon by investors. A qualified person has not done sufficient work to
classify the historical estimate as current mineral resources and Match is not
treating the historical estimate as current mineral resources and the historical
estimate should not be relied upon.


The drilling by Match Capital intersected mineralization similar to that of the
Blue Lake deposits and is listed in the following table.


Significant Mineralized Intersections

Hole ILN-01 was continuously mineralized over 25.5 meters with a copper
equivalent of 0.51%. Hole ILN-04 intersected mineralization over 41.5 meters
with an average grade of 0.33% copper equivalent. Hole ILN-05 was continuously
mineralized over 35.0 meters with a copper equivalent of 0.57%. These results
include the mineralized intersections in the table below.




----------------------------------------------------------------------------
Hole     Interval (m)   Width (m)   Cu (%)   Ni (%)  Pd (g/t)       Pt (g/t)
----------------------------------------------------------------------------
ILN-01      101.5-105         4.5     0.43     0.19      0.63           0.05
----------------------------------------------------------------------------
ILN-04      74.5-81.0         6.5     0.17     0.08      0.04           0.01
----------------------------------------------------------------------------
ILN-05      87.0-92.0         5.0     0.13     0.13      0.20           0.06
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Hole     Interval (m)   Width (m)   Co (%) Au (g/t)  Ag (g/t)  Cu Equivalent
----------------------------------------------------------------------------
ILN-01      101.5-105         4.5     0.04     0.21      1.08          1.40%
----------------------------------------------------------------------------
ILN-04      74.5-81.0         6.5     0.02    0.004      1.82          0.56%
----------------------------------------------------------------------------
ILN-05      87.0-92.0         5.0     0.02    0.003      0.59          0.71%
----------------------------------------------------------------------------



True widths are not known but are not expected to vary significantly from the
reported lengths. Hole locations and orientations are provided in the table
below. Copper equivalent calculations are based on the following metal prices:
Cu $3.35/lb, Ni $9.50/lb, Co $16/lb, Pd $615/oz, Pt $1,557/oz, Au $1,688/oz and
Ag $33/oz and assumes 100% metallurgical recovery.




Hole Information                                                            
                                                                            
----------------------------------------------------------------------------
Hole              Easting(i)       Northing(i)        Azimuth    Inclination
----------------------------------------------------------------------------
ILN-01                672095           6144266            220            -45
----------------------------------------------------------------------------
ILN-02                672025           6144334            200            -45
----------------------------------------------------------------------------
ILN-03                672479           6144343            230            -45
----------------------------------------------------------------------------
ILN-04                672160           6144188            225            -45
----------------------------------------------------------------------------
ILN-05                672236           6144109            225            -45
----------------------------------------------------------------------------
ILN-06                669813           6146151            225            -45
----------------------------------------------------------------------------
ILN-07                672312           6144066            225            -45
----------------------------------------------------------------------------
ILN-08                671962           6144344            225            -45
----------------------------------------------------------------------------
ILN-09                671888           6144386            225            -45
----------------------------------------------------------------------------
(i)Coordinates are NAD83 Zone 19                                            



To date the mineralized zone has been traced for a distance of over 200 meters
and is open to depth and to the southeast. Holes ILN-02, ILN-08, ILN-09 were
drilled to the northwest of the mineralized zone and intersected anomalous
mineralization in serpentinized peridotite. Geophysical surveys and mapping will
help determine if faulting has offset the zone to the north. Holes ILN-06
drilled 2,800 meters to the northwest and ILN-03 was drilled 400 meters to the
east as broad step-out holes. Both holes intersected peridotite and sulphide
mineralization. Metal values were anomalous but sub-economic. Hole ILN-07 was
drilled southeast of the mineralized zone. The hole was terminated due to
technical difficulties before entering the zone of mineralization.


Split drill core was submitted to AGAT Laboratories, Toronto, Ontario which is
an ISO17025-accredited facility, for preparation and analysis. The entire core
was crushed and a 300 g split was pulverized. Gold, Platinum and Palladium were
analyzed by Fire Assay - Au, Pt, Pd Trace Levels, ICP-OES finish (202055). All
other elements were analyzed by Aqua Regia Digest - Metals Package, ICP-OES
finish (201073). 


Claude Larouche, P.Eng., Quebec, is the qualified person that has reviewed the
content of this press release.


About Match Capital

Match entered into an option/joint venture agreement with Western Troy Capital
Resources (TSX VENTURE:WRY) in July, 2010 where Match had the right earn up to a
50% interest in the Indian Lake Property by spending $250,000 over a two year
period. During the drilling program, Match earned its interest and the joint
venture has been formed. The interests of the joint venture partners at this
time are Western Troy Capital Resources - 58.85% and Match - 43.15%. A National
Instrument 43-101 report on the Indian Lake Property was produced in November,
2010 by Stewart Winter, P.Geo and can be viewed at www.matchcapital.ca.


Forward Looking Statements 

This Company Press Release may contain certain "forward-looking" statements and
information relating to the Company that are based on the beliefs of the
Company's management as well as assumptions made by and information currently
available to the Company's management. Such statements reflect the current
risks, uncertainties and assumptions related to certain factors including,
without limitations, competitive factors, general economic conditions, customer
relations, relationships with vendors and strategic partners, the interest rate
environment, governmental regulation and supervision, seasonality, technological
change, changes in industry practices, and one-time events. Should any one or
more of these risks or uncertainties materialize, or should any underlying
assumptions prove incorrect, actual results may vary materially from those
described herein. 


To view the map associated with this press release, please visit the following
link: http://media3.marketwire.com/docs/MHCMAP1024.pdf


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