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IP Inca Pacific Resources

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Share Name Share Symbol Market Type
Inca Pacific Resources TSXV:IP TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
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Exploration Update on La Rosita Ag-Au Property, Deseado Massif, Argentina

20/01/2012 3:23pm

Marketwired Canada


Minsud Resources Corp. ("Minsud" or the "Company") (TSX VENTURE:MSR) reports
that it has received very encouraging results from initial geological mapping,
prospecting and ground magnetometer surveying activities over a part of its 100%
owned, La Rosita Epithermal Ag-Au Property ("La Rosita" or the "Property"),
located in the Deseado Massif, southeastern Argentina. The recent work in the
Los Mogotes Hill sector of the Property has identified the presence of volcanic
lithologies and alteration phenomena that are characteristic of typical
low-sulphidation epithermal Au-Ag deposit areas. Traditional 'boot and hammer'
prospecting has located widespread mineralized outcrops and float that have
returned grab sample values up to 3.2 grams of gold, 234 grams of silver and 6.1
% lead per tonne. It is stressed that Los Mogotes Hill is a new prospect that
has never before been tested by drilling or even surface trenching. 


The 9,971 hectare La Rosita Property is located in the heart of the Deseado
Massif precious metals mining district some 70 km northeast of the town of
Gobernador Gregores, Santa Cruz Province. The Deseado Massif has four producing
mines: Cerro Vanguardia Mine (AngloGold - Fomicruz), San Jose - Huevos Verdes
Mine (Hochschild - Minera Andes), Martha Mine (Coeur d'Alene) and Manantial
Espejo Mine (Pan American Silver) as well as several additional projects at the
advanced exploration to feasibility study stage, most notably Cerro Negro
(Goldcorp).


Over the 2011 field season, the Company completed a modest exploration program
in the Los Mogotes Hill sector, which included detailed lithological, alteration
and structural mapping, bedrock and float sampling (452), and a 320.3 line
kilometer ground magnetometer survey. The object was to delineate and prioritize
prospective targets on the Property. Instead of reducing the main areas of focus
this work actually expanded the areas of potential interest to encompass over 10
square kilometers of prime exploration territory. Additional information can be
found in our website www.minsud.com.


The next steps in the systematic multidisciplinary exploration of the Property
include:




--  Completion of the first phase reconnaissance program: The main aspect of
    this is a previously budgeted surface trenching program in the Los
    Mogotes Hill sector. Additional reconnaissance work will be conducted
    over the remaining parts of the La Rosita Property as time permits on an
    ongoing basis. 
--  Phase two target definition program: Utilized in conjunction with
    surface geological, geochemical and basic routine geophysical (magnetic)
    data, sophisticated induced polarization/resistivity ("IP") surveys have
    been instrumental in effectively defining drill targets elsewhere in the
    Deseado Massif. Minsud intends to complement its surface geoscientific
    data by completing an IP test survey followed by a production survey (if
    warranted) in the Los Mogotes Hill sector to optimize definition of
    drill targets. A provisional budget is in place for selective drilling
    to test high priority targets.



The current proposed program is scheduled to be completed in the first half of 2012.

Mr. Carlos Massa, Minsud's President and CEO, said "Minsud is highly encouraged
by the exploration results obtained to date and intends to ramp up its efforts
to advance the Los Mogotes Hill prospect." He also stated "La Rosita and the
Company's yet to be systematically explored San Antonio Property located in the
eastern part of the Deseado Massif are key corporate assets. This ensures that
Minsud is strategically placed in this important precious metal mining
district". 


Mr. Howard Coates, Professional Geoscientist, Director of the Company and a
geological consultant, is a qualified person as defined by National Instrument
43-101. Mr. Coates has visited the Property and has read and approved the
contents of this release.


About Minsud Resources Corp:

Minsud is a mineral exploration company focused on exploring its flagship Chita
Valley project, primarily for gold, silver and copper in San Juan Province,
Argentina.


Additionally, the Company holds a portfolio of approximately 75,000 ha of 100%
owned exploration properties in Patagonia. Most of the key properties held by
the Company are located in mining friendly provinces like San Juan and Santa
Cruz, Argentina.


CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain information that may constitute
"forward-looking information" under applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to, statements about
strategic plans, spending commitments, future operations, results of
exploration, anticipated financial results, future work programs, capital
expenditures and objectives. Forward-looking-information is necessarily based
upon a number of estimates and assumptions that, while considered reasonable,
are subject to known and unknown risks, uncertainties, and other factors which
may cause the actual results and future events to differ materially from those
expressed or implied by such forward-looking information, including the risks
identified in the Company's TSXV Filing Statement dated April 27, 2011 under the
heading "Risk Factors". There can be no assurance that such information will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly, readers
should not place undue reliance on forward-looking information. All
forward-looking-information contained in this press release is given as of the
date hereof and is based upon the opinions and estimates of management and
information available to management as at the date hereof. The Company disclaims
any intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, except as
required by law.


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