Announces First Drill Results

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tnw



(via Thenewswire.ca)



April 5, 2013 - Winnipeg, Manitoba - Cougar Minerals Corp. - TSX-V: COU ("Cougar" or the "Company") is pleased to announce it has earned an initial 25% interest in the Geel gold and silver mine property, located near Virginia City, Montana. In addition, the Company is pleased to report it has intersected high-grade gold and silver mineralization on its initial 19-hole drill program on the property.




Highlights from the drill program include:




-Hole G3 - intersected 5.25 ft (1.6 metres) (true width) averaging 0.28 opt gold (9.60 g/t Au) and 0.85 opt silver (29.14 g/t Ag).




-Hole G7 - intersected 5 ft (1.5 metres) (true width) averaging 1.23 opt gold (42.17 g/t Au) and 1.88 opt silver (64.46 g/t Ag). This included a 1 ft (0.3 m) interval averaging 5.9 opt gold (202.29 g/t Au) and 8.8 opt silver (301.71 g/t Ag).




Please refer to Table 1. below for more results from the drill program.




With the completion of this initial 19-hole drill program Cougar Minerals has now earned an undivided 25% interest in the Geel Gold and Silver mining lease and holds an option to purchase an additional 25% for a total undivided 50% interest.




The Geel gold and silver mine property covers a portion of the Geel trend, a quartz vein system, that has been traced for over 4 miles (6.4 km). Cougar Minerals' Geel property hosts a small high grade gold and silver mine that has seen limited historical production. There are no records available to quantify the tonnage and grade produced.




At the mine site, an old adit follows the strike of the vein for about 85 ft. (26 metres) and a mined out stope is situated 50 ft (15 metres) from the portal. The vein measures on average, about 4.5 ft (1.37 metres) wide. A total of 45 chip samples were taken By Cougar Minerals along a 50 ft (15 metre) section of the vein at 5 ft (1.5 metre) intervals. The average grade of these samples was 0.23 opt (opt) gold (7.89 g/t Au) and 1.03 opt silver (35.31 g/t Ag).




"We are very excited about the mining potential of this new property," commented Murray Nye, President of Cougar Minerals. "The results from our drill program have not only confirmed the high-grade nature of the Geel vein system but have also confirmed mineralization over a strike length 300 ft (91metres). Based on the data we have acquired so far we believe that a short 340 ft (104 metre) long decline would reach the high-grade vein system and enable the Company to test mine about 150 ft (46 metres) of strike length of the vein."




Property Description




Quartz veins at the Geel trend occur in a 50 foot (15 metre) thick layer of talc rich schist within a package of Proterozoic-aged marble, schist, and gneiss over a strike of 4 miles (6.44 km). This favorable unit strikes north and dips 45 degrees to the west. The quartz veins occur as lenses and can be up to 15 feet (4.57 metres) thick.




In 1989, Noranda Exploration Inc. drilled a number of rotary holes along the Geel trend. The drill data that follow are historical in nature and have not been verified by the Company and should not be relied upon. Hole BC-89-6 was drilled about 50 feet (15 metres) west of the Geel Portal at a - 60 degree dip back towards the east. This drill hole encountered 10 feet (3.04 metres) averaging of 0.20 opt gold (6.86 g/t Au) starting 40 feet (12 metres) down-hole. Hole BC-89-5 was located another 150 feet (45.7 metres) to the west and was also drilled at - 60 degrees towards the east. It intercepted 5 feet (1.5 metres) averaging 0.169 opt gold (5.79 g/t Au) at about 140 feet (42.67 metres) down-hole.




Cougar Minerals Drill Results




In 2013 Cougar Minerals completed a 19 hole core drill program to the north and south of the old Noranda holes. Assays are pending for three core holes from this program. The best intercepts to date are highlighted in the Table1.




The sampling in the adit and the drilling results indicate good grades over a strike length of at least 200 feet (61 metres) and down-dip 140 feet (42.6 metres) below the surface. Mineralization on this vein still remains open for expansion at depth and to the south.




Table 1. Highlights of Drilling



-------------------------------------------------------------------
|DRILL |FROM |TO |WIDTH (True |GOLD |SILVER |
|HOLE | | |Widths) | | |
|-----------------------------------------------------------------|
|G-3 |58.75 |64 ft |5.25 ft|1.6 m |0.28 |9.60 |0.85 |29.14 |
| |ft | | | |opt |g/t |opt |g/t |
|-----------------------------------------------------------------|
|G-7 |113 ft|118 ft|5 ft |1.5 m |1.23 |42.17 |1.88 |64.46 |
| | | | | |opt |g/t |opt |g/t |
|-----------------------------------------------------------------|
|Includes|113ft |114 ft|1 ft |0.30 m|5.90 |202.29|8.8 opt|301.71|
| | | | | |opt |g/t | |g/t |
|-----------------------------------------------------------------|
|G-8 |134 ft|135 ft|0.75 ft|0.23 m|0.33 |11.31 |2.77 |94.97 |
| | | | | |opt |g/t |opt |g/t |
|-----------------------------------------------------------------|
|G-8 |171 ft|172 ft|0.75 ft|0.23 m|0.22 |7.54 |1.02 |34.97 |
| | | | | |opt |g/t |opt |g/t |
|-----------------------------------------------------------------|
|G-9 |113 ft|115 ft|1.8 ft |0.55 m|0.32 |10.97 |5.26 |180.34|
| | | | | |opt |g/t |opt |g/t |
|-----------------------------------------------------------------|
|G-11 |203.5 |204.5 |1 ft |0.30 m|0.15 |5.14 |0.40 |13.71 |
| |ft |ft | | |opt |g/t |opt |g/t |
|-----------------------------------------------------------------|
|G-14 |125.4 |128 ft|2.6 ft |0.79 m|0.125|4.29 |0.04 |1.37 |
| |ft | | | |opt |g/t |opt |g/t |
|-----------------------------------------------------------------|
|G-15 |144 ft|145 ft|1 ft |0.30 m|0.96 |32.91 |0.36 |12.34 |
| | | | | |opt |g/t |opt |g/t |
|-----------------------------------------------------------------|
|G-17 |121 ft|125 ft|3 ft |0.91 m|0.066|2.26 |0.36 |12.34 |
| | | | | |opt |g/t |opt |g/t |
-------------------------------------------------------------------




Additional Potential along the Geel Trend




In addition to the Geel mine target, Cougar Minerals holds the ground known as the Pioneer Pit target located three miles (4.8 km) to the south. Historical work completed by Noranda indicates that there were numerous good drill intercepts in the Pioneer Pit target. Mineralization is exposed at the surface and two historical bulk samples were taken out and shipped to a smelter in the 1980's (No data is available regarding the tonnage and grade of these bulk samples). Cougar Minerals hopes to drill this target in the spring.




Option Agreement Details




According to the option agreement, Cougar Minerals has the right to earn a 25% interest in consideration for a US$250,000 cash payment and completing US$400,000 in exploration (Now Completed). An additional 25% interest can be earned by making further expenditures totalling US$1 million on exploration and development of the property on or before April 14th 2014. Once a 50% interest has been earned, all expenses will be shared on a pro-rata basis with the underlying vendor.




Table 2. Drill hole location and orientation data



----------------------------------------------------------------
|Hole|Northing|Easting |Elevation (ft)|Azimuth|Dip|Length (ft)|
|--------------------------------------------------------------|
|G-1 |45:4497 |112:01959|7520 |90 |45 |298 |
|--------------------------------------------------------------|
|G-2 |45:4497 |112:01959|7520 |0 |90 |158 |
|--------------------------------------------------------------|
|G-3 |45:44876|112:01976|7496 |135 |60 |158 |
|--------------------------------------------------------------|
|G-4 |45:44876|112:01976|7496 |0 |90 |199 |
|--------------------------------------------------------------|
|G-5 |45:44876|112:01976|7496 |90 |45 |95 |
|--------------------------------------------------------------|
|G-6 |45:44876|112:01976|7496 |45 |45 |142 |
|--------------------------------------------------------------|
|G-7 |45:44821|112:02013|7493 |90 |45 |145 |
|--------------------------------------------------------------|
|G-8 |45:44821|112:02013|7493 |0 |90 |188 |
|--------------------------------------------------------------|
|G-9 |45:44821|112:02013|7493 |135 |45 |150 |
|--------------------------------------------------------------|
|G-10|45:44823|112:02013|7493 |12 |60 |172 |
|--------------------------------------------------------------|
|G-11|45:44876|112:01976|7496 |180 |60 |213 |
|--------------------------------------------------------------|
|G-12|45:44821|112:02013|7493 |12 |70 |181 |
|--------------------------------------------------------------|
|G-13|45:44823|112:02013|7493 |10 |60 |199 |
|--------------------------------------------------------------|
|G-14|45:44821|112:02013|7493 |50 |70 |174 |
|--------------------------------------------------------------|
|G-15|45:44821|112:02013|7493 |112 |70 |172 |
|--------------------------------------------------------------|
|G-16|45:44821|112:02013|7493 |112 |45 |172 |
|--------------------------------------------------------------|
|G-17|45:44876|112:01976|7496 |45 |70 |232 |
|--------------------------------------------------------------|
|G-18|45:44876|112:01976|7496 |157 |70 |244 |
|--------------------------------------------------------------|
|G-19|45:44876|112:01976|7496 |135 |45 |156 |
----------------------------------------------------------------




Methodology and QA/QC




Analyses of the drill core were performed by Norris Lab in Norris Montana. All samples were fire assayed for gold and silver using a gravimetric finish. All core samples are split and half retained on site. The other half is crushed and pulverized and a 15 gram split is fire assayed for gold and silver. Norris Lab uses certified reference material samples provided by CDN Resource Laboratories Ltd. in Delta, BC, and also by CCRMP-CANMET. Also, every batch of assays will contain one or more duplicate assays. Check assays are periodically submitted to ALS Minerals in Reno, NV and/or American Analytical Services in Osburn, ID. Twenty three percent of the samples, half pulps and half coarse rejects, were sent to an outside lab. These samples were re-pulverized and a 30 gram split fire assayed for gold and silver using a gravimetric finish.




Richard C. Capps, PhD., SME registered Professional Geologist, is the qualified person responsible for reviewing this press release for content and accuracy.




COUGAR MINERALS CORPORATION




s/ "Murray Nye"




Murray Nye




President




For more information, please contact:




Cougar Minerals Corporation




Murray Nye, President/CEO




(204) 989-2434









Cautionary Note




No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release may contain "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to Cougar's exploration program and plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "believes", "plans", "seeks", "expects", "budget" or variations of such words or statements that certain actions, events or results may, could, will, will be, would be or are expected to be. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Cougar to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Cougar does not undertake to update any forward- looking information, except in accordance with applicable securities laws.




Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.



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