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PRM Pro Minerals Inc.

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Share Name Share Symbol Market Type
Pro Minerals Inc. TSXV:PRM 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 -

Pro Minerals Inc.: Gold Claims Acquisition

15/09/2011 4:00pm

Marketwired Canada


Pro Minerals Inc. (TSX VENTURE:PRM) is pleased to announce that the Company has
entered into a purchase agreement to acquire 3 patented mineral claims known as
the "Endeavour-Craig" located in the Cairo Township, south-west of Kirkland
Lake, Ontario.


The Endeavour-Craig claims are situated in the centre of Pro's 100% owned Cairo
Gold Project. Historically, these patented claims were noted to host a long gold
carrying vein that ran along the length of the claims north to south; consisting
principally of quartz and brecciated syenite with a width of up to 150 feet. In
the early 1900's, a shaft was sunk to a depth of 60 feet with short drifts
cutting into the vein. Fine visible gold was reported in the shaft and drifts
(Burrows 1918).


These strategic Endeavour-Craig claims have been held privately since the early
1900's. It appears the claims have remained relatively undeveloped and
underexplored for close to 100 years. Pro has worked diligently with the vendors
over the past year to have the multiple claim titles of the various heirs of the
estate holdings consolidated into a single holding from which Pro could then
consummate the purchase. Pursuant to the terms of the agreement, Pro will
acquire the claims by way of twenty thousand dollars in cash payments and the
issuance of two-hundred thousand shares to the vendors. There is a NSR in favour
of the vendors, of which Pro may purchase one-half for $1 million and has a
first right of refusal on the remainder. The agreement is subject to acceptance
by the TSX Venture Exchange.


Pro Minerals considers the Endeavour-Craig claim group to be highly prospective.
The company anticipates initiating a field program in 2011 to evaluate the
extent of untested gold mineralization. This field program will consist of
ground sampling, deep trenching and geophysics.


By way of this acquisition Pro has consolidated all three of the targeted areas
associated with the Cairo project. It now owns the poly-metallic features to the
south, the historical veining and mine shaft targets in the central section and
the yet to be explored faulting structures situated to the north.


In previous exploration, Pro Minerals had successfully completed a program in
2009 on the southern section its Cairo Project which consisted of blasting and
sampling on the claims south of the Endeavour-Craig claims. At that time Pro
discovered very encouraging Polymetallic mineralization; assays from which were
release in Pro's news release dated March 12, 2009. This earlier exploration by
Pro in the southern zone of the project, known as the "Galaxy" zone, identified
high-grade silver, copper and lead mineralization in the majority of the blasted
trenches. Samples assaying up to 11.35% copper, 26.25 oz/ton silver and 24.45%
lead was encountered at the intersection of a quartz vein, one-half metre in
width, which contained approximately 20% galena and 20% chalcopyrite. Nearby, a
smaller quartz vein of approximately 40% galena was identified.


As outlined in Pro's March 12, 2009 news release, assay results from the above
locations yielded the following:




---------------------------------------------------------------------------
Sample Number     Au (g/t)       Ag (g/t) / (oz/t)       Cu (%)       Pb (%)
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
78170              0.25 g     785.00 g / 22.90 oz      11.35 %      22.50 %
---------------------------------------------------------------------------
78171              0.40 g        6.20 g / 0.18 oz       0.65 %       0.24 %
---------------------------------------------------------------------------
78172              0.04 g        9.00 g / 0.26 oz       0.07 %       0.21 %
---------------------------------------------------------------------------
78173              0.17 g     900.00 g / 26.25 oz      10.70 %      24.45 %
---------------------------------------------------------------------------
78174              0.40 g     746.00 g / 21.76 oz       0.57 %      21.25 %
---------------------------------------------------------------------------



Copper, silver and lead mineralization was also encountered in quartz veins at
two blast trenches 15 and 54 feet (4.5 & 16.7 meters) north of the
above-location. Grab sample assays from these locations yielded the following
results:




---------------------------------------------------------------------------
Sample Number     Au (g/t)       Ag (g/t) / (oz/t)       Cu (%)       Pb (%)
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
78175              0.07 g       38.50 g / 1.12 oz       0.12 %       0.99 %
---------------------------------------------------------------------------
78176              0.08 g       51.20 g / 1.49 oz       1.67 %       1.47 %
---------------------------------------------------------------------------
78177              0.19 g       53.60 g / 1.56 oz       0.08 %       1.62 %
---------------------------------------------------------------------------



The Cairo gold project now covers of an area of approximately 1,600 hectares of
highly prospective, yet largely untested ground on the western end of the 100
Million ounce gold producing Cadillac-Larder Lake Break. The Company's Cairo
claims are located approximately 46 kilometres west of Kirkland Lake, home to 40
Million ounces of past gold production; and some 5 kilometres north-east of
Northgate Minerals' new Young Davidson Mine which contains 2.8 million ounces of
gold. The Young Davidson Gold Mine is slated to begin production in the first
quarter of 2012. Significant exploration activity in the area by companies like
West Kirkland Mining Inc occurred recently in close proximity to Pro Minerals
Cairo Gold Project. A recent intercept yielded 19.79 g/t gold over 7.9 meters,
within a broader mineralized intersection of 7.61 g/t gold over 23 meters. Both
intercepts occur within 100 meters of the surface and are within 5 km of the
Cairo Gold Project. The Cairo Gold Project is easily accessible and close to
infrastructure four kilometres from the town of Matachewan.


Additional information is contained on the Company's website at
www.promineralsinc.com.


ON BEHALF OF THE BOARD OF DIRECTORS OF PRO MINERALS INC.

Patrick D. O'Brien, ICD.D, Director

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