Press Release – August 20 2012 – Phase 3 Drilling on Northshore Property Begins
(Burlington, August 20, 2012) GTA Resources and Mining Inc. (TSXV “GTA”) announces that a Phase 3 diamond drilling program has commenced on the Northshore Property. The property is located in the Hemlo – Schreiber greenstone belt of northwestern Ontario, approximately 200 km east of Thunder Bay, and 70 km west of Hemlo. The drilling program will consist of approximately 20 holes totaling a minimum of 5000 metres.
Exploration conducted by GTA to date suggests that gold mineralization associated with the Afric Intrusive Complex covers an area of at least 275 metres in an east-west direction and extends to a depth of at least 300 metres vertically below surface. Phase 3 drilling will focus on further evaluating the potential size and grade of gold mineralization.
GTA is well financed, and fully funded for this phase of exploration.
GTA is a publicly traded mineral exploration company focused on gold exploration in Canada. The Company is governed by an experienced and successful team consisting of management, directors, and technical advisors.
GTA is exploring two gold projects, the Northshore Property, near Schreiber, Ontario, and the Auden Property near Hearst, Ontario. GTA has an option agreement with Balmoral Resources Ltd. (“BAR”) whereby GTA can earn up to a 70% interest in the Northshore Property under the terms of an option agreement announced June 28, 2011. The Company owns a 100% interest in the Auden Property, which consists of over 1,500 claim units, and covers virtually an entire underexplored greenstone belt on strike with the prolific Geraldton-Beardmore gold camp.
GTA has 24,931,855 shares outstanding of which insiders control roughly 30% of the outstanding shares. The Company’s shares trade on the TSX Venture Exchange under the symbol “GTA.”
On behalf of the board of directors
GTA Resources and Mining Inc.
“Peter M. Clausi”
President and CEO
For more information, please visit the corporate website at gtaresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. This press release contains forward-looking statements and forward-looking information (collectively, “forward looking statements”) within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, are forwardlooking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company’s expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company’s projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company’s ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company’s ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company’s ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company’s mineral properties. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.