Positive Sullivan Zone Sample Assay Results From Gabbs Project

VANCOUVER - P2 Gold Inc. reported that a sample has been collected and assayed from the Sullivan Zone at its wholly-owned, gold-copper Gabbs Project located on the Walker-Lane Trend in Nevada; and a Phase Three Metallurgical Program is underway.  A 338-kilogram panel sample measuring approximately 1 meter by 30 meters, was collected across the exposed oxide mineralization in a 10-meter-deep historic excavation at the Sullivan Zone at Gabbs.

In addition, the remaining low, medium, and high-grade samples from drill core used in the previous metallurgical programs were composited into one sample.  Representative cuts from the Panel and Composite Samples have been assayed in duplicate prior to starting the program.  

Samples were submitted for preparation and multi-element analysis. All samples were analyzed using multi-acid digestion with ICP finish for gold and copper and fire assay with AA finish for gold.

"The assay results of the sample collected at the Sullivan Zone support our enthusiasm and conviction for continuing to advance the Gabbs Project forward toward production," said Joe Ovsenek, President and CEO.  "Moreover, based on the results of our prior testwork, we expect the next phase of our metallurgical program to deliver a meaningful increase in copper recoveries as well as an increase in gold recoveries, a direct boost to the project's bottom line. We look forward to providing further updates on our metallurgical program as we advance Gabbs."

The Phase Three Metallurgical Program now underway is focused on increasing copper and gold recoveries of the oxide mineralization and providing a marketing sample of the copper-silver SART (sulphidization, acidification, recycling and thickening) concentrate.

The Phase Three program consists of leach testing approximately 150 kilograms of the Panel Sample in a 20-centimeter diameter column and approximately 20 kilograms of the Composited Sample in a 10-centimeter column.  Initial results from the Phase Three Metallurgical Program are expected early in the third quarter of this year.