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PXR

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Share Name Share Symbol Market Type
TSXV:PXR TSX Venture Common Stock
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Prominex Resource Corp.: Drill Program Planned for Reid Lot 50, Newfoundland

20/11/2013 1:00pm

Marketwired Canada


Prominex Resource Corp. (the "Company" or "Prominex") (TSX VENTURE:PXR) is
pleased to announce that it has completed the summer exploration program on its
100% owned Reid Lot 50 (Lake Bond) property in central Newfoundland. The
property is subject to a 2% Net Smelter Return (NSR) royalty in favour of Reid
Newfoundland Limited of St. John's, NL. The Company retains the option of
purchasing 1% of the NSR for $1,000,000. 


The 2013 program comprised compilation of historic diamond drilling results,
prospecting and a soil sampling surveys. Prominex plans a follow up exploration
program comprising 18 line-km of geophysical (Horizontal Loop EM) surveys and
2,000 metres of diamond drilling based on the results of our 2013 compilation
and sampling results. The purpose of the current compilation and follow up
exploration program is to outline a near surface mineral deposit that may be
amenable to open pit mining methods.  


Various operators from the mid 1950's to 1997 have carried out geochemical
sampling, ground geophysical surveys, and completed approximately 13,300 m of
diamond drilling in 90 holes on the property. Early exploration efforts by New
Jersey Zinc Exploration Company (Canada) Limited (New Jersey Zinc, or NJZ)
defined two target areas; Main Zone, close to the western shore of Lake Bond,
and Zone 2, which is approximately 900 m west of the Main Zone, in the western
part of the property. Drilling campaigns were completed by the following
operators; New Jersey Zinc (1956), Consolidated Morrison Explorations Ltd. (CM)
(1976), MacRee Resources Inc. (MacRee) (1989), Noranda Exploration Company
Limited (Noranda) (1992/93) and First Labrador Acquisitions Inc. (First
Labrador) (1997). 


Drill records indicate that the Main Zone includes massive sulphide
mineralization as well as lower grade material known as "stringer zone" that
extends more than 500 m along strike and to vertical depths of more than 330 m
over widths that range from approximately 10 m to 75 m. In general, the Main
Zone mineralization is associated with a ground geophysical (Max-Min EM)
conductor that trends north-northeast and is dipping steeply to the west. 


In 1989, MacRee reported "indicated and possible reserves" of 507,998 tonnes for
the Main Zone at an average grade of 4.15% Zn and 0.62% Cu. MacRee also reported
a lower grade resource of 2.6 million tonnes at an average grade of 2.09% Zn and
0.3% Cu. The Company cautions the reader that the reported estimates of tonnes
and average grade are historical resources and they are not NI 43-101 compliant
Mineral Resources. 


The drilling campaigns by Noranda in 1992 and 1993 were successful in extending
the Main Zone at depth, with wide mineralized intersections of 2.37% Zn over
24.9 m and 1.68% Zn over 36.8 m at depths ranging from approximately 190 m to
330 m. 


The past drilling indicates that there is good potential that the Main Zone
extends to the south, and the objective for the next drilling program is to test
this potential. 


In 2012 and 2013, Prominex completed sampling of the Main Zone in and around old
trenches dug by New Jersey Zinc. Results are as follows.




--  3.77% Zn and 3.11% Cu, located near old NJZ trench No. 6, near eastern
    margin of Main Zone 
--  1.15% Zn and 1.19% Cu, located near old NJZ trench No. 8, and close to
    sample location above. 
--  1.31% Zn, near the western margin of Main Zone. 
--  Outcrop sample; 100 m north of the Main Zone returned assay results of
    1.59% Cu and 4.40% Zn. 
--  Outcrop sample; 400 m north of the Main Zone returned assay results of
    5.10% Zn. 



Listed in the Table below are some of the mineralized intersections in drill holes.



----------------------------------------------------------------------------
    Significant Mineralized Intersections in Historic Diamond Drill Holes   
----------------------------------------------------------------------------
        Prominex Resource Corp.- Reid Lot 50 (Lake Bond) Property, NL       
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                                   Mineralized                   Depth Below
Company            Drill Hole      Intersection     Width (m)    Surface (m)
                               ------------------                           
                                    % Zn     % Cu                           
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-3         3.43     1.15        5.76           49.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-4         2.07     2.00       12.67           13.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-5         1.02     0.45       12.16           20.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-6         1.32     0.08       82.31           61.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-7         1.78     0.23       51.83           77.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-8         2.57     0.25        11.0           89.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-9         1.24      N/A       25.20           42.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-10        1.58     0.16       77.74           78.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-12        1.55     0.23        7.63            8.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-18        1.48     0.28       17.20           23.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-20        1.60     0.18       18.30           25.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-21        1.08     0.20        7.70           64.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-25        2.56     0.31        7.90           21.0
----------------------------------------------------------------------------
New Jersey Zinc    NJZ-56-26        2.18     0.19       17.83           35.0
----------------------------------------------------------------------------
Consolidated                                                                
 Morrison          CM-76-2          2.25     0.07       21.34           83.0
----------------------------------------------------------------------------
Consolidated                                                                
 Morrison          CM-76-3          1.25     0.07       12.19           49.0
----------------------------------------------------------------------------
Consolidated                                                                
 Morrison          CM-76-3          1.52     0.07       21.04           92.0
----------------------------------------------------------------------------
MacRee Resources   LB-89-11         2.72     0.07       28.02           70.0
----------------------------------------------------------------------------
Noranda                                                                     
 Exploration       LB-92-1          1.77      N/A       43.50          235.0
----------------------------------------------------------------------------
Noranda                                                                     
 Exploration       LB-92-2          2.37      N/A       24.90          214.0
----------------------------------------------------------------------------
Noranda                                                                     
 Exploration       LB-92-2          1.47      N/A       12.00          233.0
----------------------------------------------------------------------------
Noranda                                                                     
 Exploration       LB-93-4          2.22     0.10        6.40          328.0
----------------------------------------------------------------------------
Noranda                                                                     
 Exploration       LB-93-5          1.68      N/A       36.80          275.0
----------------------------------------------------------------------------



Notes:



--  Drill core is not available. 
--  Prominex has not verified the above mineralized intersections by
    independent sampling. 
--  Depth below surface is approximate. 



Qualified Person 

Mr. Hrayr Agnerian, M. Sc (Applied), P.Geo., President of Agnerian Consulting
Ltd., is a Qualified Person as set out in the definitions of National Instrument
43-101 (NI 43-101). Mr. Agnerian has reviewed and approved the technical
information included in this press release. 


About Prominex 

Prominex is a TSX-Venture listed exploration and development company trading
under the symbol "PXR". During the past several years, Prominex has been
exploring primarily for zinc-lead-copper-silver-gold mineral resources.
Currently, Prominex is evaluating two projects within a base metal rich area of
central Newfoundland, home to formerly producing world-class base metal deposits
at Buchans and the currently producing Duck Pond zinc-copper mine owned and
operated by Teck Corporation. The Company's two major assets are the historic
Tulks Hill and the Reid Lot 50 projects, both situated in central Newfoundland. 


ON BEHALF OF THE BOARD 

Gordon Barron, President and CEO

FOR FURTHER INFORMATION PLEASE CONTACT: 
Prominex Resource Corp.
Gordon Barron
President and CEO
1.604.566.1094
www.prominex.ca

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