RC drilling cheap and quick. Results should not take that long.

red911

Gryphon Gold starts Borealis drilling

2010-05-03 12:30 NT - News Release

Mr. John Key reports

GRYPHON GOLD COMMENCES DRILLING PROGRAM

Gryphon Gold Corp. has begun exploration drilling on the Borealis property. One reverse circulation drill was mobilized on April 27, 2010, to complete a 7,000-foot drilling program.

The program will complete a series of holes that is designed to upgrade inferred oxide resources reported in the 2008 NI 43-101 "Technical Report on the Mineral Resource of the Borealis Gold Project Located in Mineral county, Nevada, USA" to the measured and indicated category and to potentially add additional oxide ounces to the Borealis resource. The drill program will test multiple targets within the permitted mining area with the designed intent of adding ounces of gold previously reported as resources to the short-term mine plan. Targets include extension of known ore zones, infill drilling and identification of additional mineralized zones.

Initial drilling within the Freedom Flats pit is designed to test potential shallow oxide mineralization on the southwest side of the pit. A second area that has had limited drilling is the Middle Ridge area located between the East Ridge and Northeast Ridge pits. Previous drilling by Gryphon identified a new zone and this will be drill tested to both move resources previously reported inferred gold ounces into the indicated resource category and to explore for new gold mineralization. Other drill targets are being considered that will upgrade inferred gold ounces into a future mine plan.

Gryphon Gold and Sage Gold Inc. entered into an option agreement on March 5, 2010, as amended. Under the terms of the option agreement Gryphon has granted Sage the right to earn a 50-per-cent interest in Borealis property, including the fully permitted Borealis gold project located in the Walker Lane mineral belt of southwest Nevada, subject to the terms and conditions of the option agreement.

The Borealis property is described in a technical report dated Sept. 17, 2009, titled prefeasibility study on the mineral resources of the Borealis gold project located in Mineral county, Nevada, prepared in accordance with National Instrument 43-101. This technical report describes the exploration history, geology and style of gold mineralization at the Borealis property. Disclosure in this news release of mineral resources is based on the technical report. Details of the quality or grade of each category of mineral resources and key assumptions, parameters and methods used to estimate the mineral resources are included in the technical reports. The technical report also includes a description of environmental and permitting matters.