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CTT Citation Resources

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Share Name Share Symbol Market Type
Citation Resources TSXV:CTT 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 -

Citation Retains Key Guerrero Gold Belt Geologist to Advance Biricu Prospect

28/11/2011 1:00pm

Marketwired Canada


Further to the announcement on November 23, 2011 by Citation Resources Inc.
("Citation" or the "Company") (TSX VENTURE:CTT) that it had signed a Letter of
Intent with Esperanza Resources Corp. ("Esperanza") for an option to acquire
Esperanza's 100% interest in the Biricu Prospect mineral exploration concession
located in Guerrero Gold Belt in Mexico, the Company is pleased to announce that
it has retained David M. Jones as a technical consultant to support the
direction and management of the Company's exploration activities at the Biricu
Prospect.


Mr. Jones is a graduate of Dartmouth College (1978) and the University of
Arizona (M.S. 1987) with over 30 years experience in mineral exploration and
project management. As Chief Geologist of Teck's Nukay Project from 1994-1999,
Mr. Jones is credited with the discovery of the Los Filos gold-skarn deposit,
which became Mexico's largest gold producer (Goldcorp Inc.) in 2010. Application
of his model to other properties in the region dramatically expanded the
conceptual extent of the Guerrero Gold Belt and led to the discoveries of El
Limon and Los Guajes, also major gold-skarn deposits.


He has published numerous technical articles and is considered to be the
foremost expert on Guerrero Gold Belt type deposits. Mr. Jones has worked
extensively throughout the Guerrero Gold Belt for clients including Teck,
Wheaton River, Goldcorp, Penoles, Grupo Mexico, Torex, and a number of other
Canadian juniors.


"We are thrilled that David has agreed to lend to Citation his immeasurable
technical knowledge of the Guerrero Gold Belt," Matthew Watson, President and
CEO of Citation commented. "David's success as a geologist in the region is
unrivalled and his interest in our project validates the attractive potential of
the Biricu Prospect. We welcome David to our team and look forward to advancing
this exciting prospect with him."


Finders' fee

Citation has agreed to pay a finder's fee in connection with the Biricu Prospect
of 250,000 common shares of the Company, subject to the approval of the TSX
Venture Exchange.


Executive options

The Company's board of directors has today approved the granting of 1,138,000
incentive stock options to be granted to directors and officers of the Company,
and a consultant to the Company, in accordance with its stock option plan. The
options are exercisable at $0.20 per share for a period of five years and vest
over time or upon the achievement of specific performance targets.


About Citation Resources

Citation Resources Inc. is a growth-oriented, Canadian mining company dedicated
to the exploration and development of precious and base metal resources.
Citation is based in Vancouver, British Columbia and aims to create shareholder
value through the acquisition, exploration, and development of profitable
mineral properties, in a manner that is consistent with best practice in
environmental stewardship, safety and stakeholder engagement. In addition to its
agreement relating to Biricu Prospect, the Company has an option agreement with
Rainy Mountain Royalty Corporation and International Bethlehem Mining
Corporation to acquire the right to earn a 60% total interest in the Eva Kitto
Property. The Eva Kitto Property claims are located approximately 190 kilometres
northeast of Thunder Bay, Ontario.


ON BEHALF OF THE BOARD OF DIRECTORS

CITATION RESOURCES INC.

Nigel Kirkwood, CFO

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