Vancouver, BC, November 18, 2011: Goldbank Mining Corporation (TSX.V-GLB) is pleased to report the 2011 field program on its Yukon Gold properties near Dawson City, Yukon is substantially complete. Exploration included soil sampling designed to detect precious and base metals anomalies in different rock units and at contacts. Sampling grids were distributed over several claim groupings. Click here to view a the pdf version of the News Release
Over 1600 soil samples were collected using a Dutch auger. Fifty-two rock samples were taken from outcrops found within soil sampling grids, from trenches and from historical placer mining areas located on the prospects. Samples have been dispatched to an accredited laboratory for analysis.
In October Goldbank issued and delivered a further 3,000,000 (three million) common shares to the Vendors of the Leota claims, Mr. Mark Pocklington and Mr. Ross Weitzel, to acquire 75% of the Leota Claims, subject to a 3% NSR royalty. Goldbank can acquire a further 25% interest in the Leota Claims by issuing a further 3 million common shares by October 15, 2014.
Upon Goldbank receiving a positive feasibility study confirming more than 4 million ounces of gold or gold equivalent reserve on the Leota Gold Property, or if Goldbank produces more than 4 million ounces of gold from the Leota Gold Property, then Goldbank will, after regulatory approval, allot and issue a further 2,000,000 fully paid and non assessable common shares in its capital stock to the Vendors.
Goldbank is a Canadian exploration company actively exploring for gold in the historic Klondike Goldfields near Dawson City, Yukon, Canada and for Platinum, Palladium, Copper and Nickel at the Buck Lake Property in Northwestern Ontario.
This news release has been reviewed and approved for technical content by Dr. Bohumil (Boris) Molak, a consulting geologist and Qualified Person.
For further information please contact Goldbank’s president, Anthony J. Beruschi B.Sc. LLB.
GOLDBANK MINING CORPORATION
|Anthony J. Beruschi
President & CEO
|Suite 605 - 889 West Pender Street
Vancouver, BC CANADA V6C 3B2
Toll Free: 1.888.880.2288
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. nvestors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.