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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 -

Drilling Permits Granted for Citation's Guerrero Gold Belt Project

01/04/2014 2:00pm

Marketwired Canada


Citation Resources Inc. (the "Company" or "Citation") (TSX VENTURE:CTT) is
pleased to announce that it has received formal written approval from The
Ministry of Environment and Natural Resources (SERMARNAT) that its permit
applications for its planned drill program at its Biricu Project have been
approved and permits have now been issued. The permits, along with the
previously announced permissions from the local community, allow Citation to
immediately commence drilling at its previously announced high-priority
exploration targets. The initial drill program will test the priority high-drill
targets in Punto Rojo and Northern Target areas with an initial exploratory
drill program of a minimum of 5,500 metres and 11 proposed holes. Each of the
target areas contain the geophysical, geochemical and geological characteristics
consistent with other discoveries in the area, including the neighboring Torex
properties, Morelos and Media Luna, and Goldcorp's Los Filos.


"With the drill permits now in place, we are moving expeditiously to conclude
discussions with potential financing and strategic partners as we look to
advance exploration activity at Biricu into this next exciting phase," said
Matthew Watson, current CEO and Chairman. In parallel, the Company is moving
towards finalizing the selection process for a CEO.


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. The Company has an
option agreement with Esperanza Resources Corp. to acquire a 100% interest in
the Biricu Project mineral exploration concession located in Guerrero State,
Mexico. The Biricu Project comprises more than 41,000 hectares of highly
prospectable ground and management believes that the Biricu Project is the
direct on-strike extension of five skarn deposits in the Guerrero Gold Belt (El
Limon-Los Guajes - Torex Gold Resources Inc.; Bermejal, Los Filos, and Nukay -
Goldcorp Inc.; Ana Paula - Newstrike Capital Inc.).


Forward-Looking Statement

Some statements in this report contain forward-looking information. These
statements include, but are not limited to, statements with respect to future
exploration, expenditures, transactions and financings. These statements address
future events and conditions and, as such, involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of to be materially different from any future results,
performance or achievements expressed or implied by the statements. Such factors
include, among others, risks related to actual results of exploration
activities, the timing and amount of expenditures and the completion of
transactions and financings.


ON BEHALF OF THE BOARD OF DIRECTORS

CITATION RESOURCES INC.

Nigel Kirkwood, CFO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Citation Resources Inc.
Nigel Kirkwood
CFO
604-682-6784
info@citationresources.com
www.citationresources.com

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