Gold Bearing System Identified At Golden Corridor

VANCOUVER - Prosper Gold Corp. has completed Phase I of exploration at the Golden Sidewalk Project, in the Birch-Uchi region of Red Lake, and is moving to Phase II. The Company has completed reconnaissance drilling totaling 15,040 meters in 48 diamond drill holes over 4 kilometers of the Golden Corridor. 43% of assay results have been received to date. Drilling has intersected a pronounced zone of ankerite ± biotite alteration with intermittent gold mineralization over an area 1,000 meters by 100 meters which corresponds with a magnetic-low anomaly. Phase 2 drilling has commenced and will include tighter spaced drilling at this newly identified target.

Gold mineralization occurs as pyrite ± arsenopyrite ± fine visible gold in quartz-ankerite veins. Veins are up to 1 meter and within ankerite and/or biotite altered zones. Acicular, needle-shaped arsenopyrite, which is frequently observed in the Red Lake camp has been observed in several holes.

“Phase 1 reconnaissance drilling has identified a gold bearing system which will be the focus of Phase 2,” commented Peter Bernier, CEO. “The newly identified zone has quickly become a high priority target to systematically test. Although we have received less than 50% of the assays, we are excited by the alteration, arsenopyrite, and specks of visible gold seen in the core.”