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DIT

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Share Name Share Symbol Market Type
TSXV:DIT 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 -

Ditem Acquires 3 Properties in the Detour Gold Trend

06/09/2012 1:22pm

Marketwired Canada


Ditem Explorations (TSX VENTURE:DIT) is pleased to announce that it has, subject
to regulatory approval, signed a purchase agreement for a 100% interest in three
gold exploration properties in northwestern Quebec. The properties, situated in
Quebec near the Ontario/Quebec border to the east of the Detour Lake Mine and
along the Detour Gold Trend, are composed of three groups of claims named
Mannerelle (132 claims), Martigny (18 claims) and Jeremie (85 claims) for a
total of more than 12,000 hectares. The maps concerning the claims and the
general geology may be viewed at the following links:
http://www.ditem.com/detourgoldtrendclaims.pdf and
http://www.ditem.com/detourgoldtrendgeology.pdf. 


Geologically, the properties are situated in the Harricana-Turgeon Greenstone
belt which also includes the Matagami, Joutel, Brouillan and Casa Berardi mining
districts. Specifically, the properties are within the east-west Detour Gold
Trend which extends from the Detour Mine in Ontario to the Matagami area in
Quebec. This trend is mainly composed of mafic to intermediate volcanic rocks
(basalt, andesite) with local felsic volcanic rocks (dacite, rhyolite). The
mafic volcanic rocks are bordered to the south by sedimentary rocks mainly
composed of alternate wacke and mudrock units and local iron formation and
conglomerate, and to the north with biotite-rich granodiorite and tonalite units
of the Opatica Sub-Province. All claims are situated on the major east-west
deformation corridor now referred to as the Detour Gold Trend. Previous and
recent exploration programs indicated northeast and northwest faults within the
deformation corridor which may be associated with gold mineralization, as
notably the Bug Lake fault, which extends northward towards Ditem's Martigny
property.


Ditem now holds over 120 km2 of mineral licenses making it one of the main
holders of claims in this area. The Company may decide to acquire other claims
along the Trend. 


According to the agreement, in return for a 100% interest in the properties,
Ditem will pay to three arm's length vendors a total of $100,000 over a 24 month
period and a total of 8.5 million shares and 1 M warrants at $0.10 valid for
five years. The vendors will also hold a 2% NSR on the properties subject to a
1% buy back for $1 M in favour of the purchaser.  


Ditem is an exploration and development company with properties in Quebec on the
North Shore near La Romaine and in the Otish Basin, and in Saskatchewan in the
Athabasca Basin. Properties and general information may be viewed on the
Company's website at www.ditem.com.


Mr. Mario Joly (M.Sc Geology), President of Ditem Explorations is the Qualified
Person (as that term is defined in National Instrument 43-101) who has reviewed
this news release and is responsible for the technical information reported
herein.


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