2.5 km x 3.5 km Geophysical Anomaly at Paciencia North to Be Drilled

TORONTO - Arena Minerals Inc., reported that Teck Resources Chile Limitada (Teck) has informed Arena that it has commenced a further phase of exploration on the Paciencia North project (Paciencia North). Following encouraging results from the June-July 2016 drilling and reconnaissance induced polarization (IP) program in the southern portion of the Paciencia option area, Teck carried out a further 51 km2 of reconnaissance IP and 380 line km of ground magnetics in an area extending to the northern boundary of the license block. This geophysical program led to the identification of a large coherent chargeability anomaly (~ 2.5 x 3.5 km) beneath shallow gravel cover (~20-100m thick) in the northern part of the Paciencia license block. The chargeability anomaly is coincident with an annular zoned magnetic anomaly with a central high and flanking low.

Teck plans to drill test the target with an additional 1,800 meters of reverse circulation (RC) drilling to be completed in December 2016. "The coincident chargeability and magnetic anomaly defined by Teck is a high priority target and we look forward to seeing the initial drill results towards the end of 2016," commented William Randall, President and CEO of Arena. "The target presents classic porphyry geophysical signatures, and being 20 kilometers to the northwest of Spence makes for a truly exciting opportunity."

In late 2015, and prior to the definition of the coincident IP and magnetic anomaly, three shallow, wide-spaced drill holes were completed on the periphery of the geophysical anomaly. These holes intersected sericite-chlorite and secondary biotite alteration. Due to their distant location and shallow depth, these holes are not considered to have tested the target.