NEW YORK, Sept. 12, 2005 (PRIMEZONE) -- Golden Patriot, Corp. ("GPTC") (OTCBB:GPTC) is extremely pleased to announce that it has been informed by the exploration contractor of the Lucky Boy Uranium Prospect, that the initial samples have returned very encouraging uranium grades. This initial sample was designed to test for the viability of continuing on this prospect. Samples came back as high as .286% U. Upon receipt of these samples, a multi-hole drill program to test the extent of the ore is now being implemented. This drilling is planed for late October. "Initial interpretation of recent sampling is encouraging. Surface alteration, similar in character to mineralized outcrop in the open pit area has been traced along a northeasterly trend for some 600 to 800 feet, and may represent a potential extension of the ore zone. Also significant, is the apparent thickness of the quartzite host unit. At this time, based on mapping and observation of drill cuttings, it appears that the quartzite ranges from several 10's to greater than 60 feet thick. Adjacent districts provide strong evidence that grades increase near the contact with the underlying diabase lithology. With respect to mineability, there is evidence the quartzite host unit dips 25 degrees, and roughly parallel to slope. This orientation would be very favorable in consideration of open pit development," stated geologist Nicholas Barr.
Bradley Rudman, President of GPTC stated, "This was exactly what we were hoping to see from this phase of the sampling. We knew there is uranium there because it was a past producing mine, we just needed to see uranium grades that would be economic in today's conditions. At this stage we are immediately implementing a multi-hole drill program to test the extent of the project. We anticipate being able to have a rig on location in October. This is a tremendously exciting prospect for GPTC as we are extremely encouraged with what we have seen to date and we are looking forward to the next few months as we fully exploit this prospect. When you take into account that uranium prices are near 25-year highs, this is an opportune time for these encouraging sampling results. Couple this with the anticipated start of drilling on the Gold View gold prospect in the next 30 days, and it is clear that the final quarter of 2005 could be the most significant in GPTC's history."
According to GPTC's joint venture partner on the Gold View Property, the geochemical survey has identified gold anomalies in association with major structural intersections identified in the geophysical survey. They have submitted permits for a ten-hole drill program consisting of ten reverse circulation drill holes (of which an initial four holes will be drilled), averaging 800 feet deep to test the most significant anomalies. Approval for these permits is expected shortly. Barring any unforeseen issues, drilling is scheduled to commence within 30 days.
The Gold View Property is located in the Cortez trend of Nevada, approximately 3 miles east of the Tonkin Springs deposits (650,000 ounces of gold), and consists of approximately 1,450 acres (587 hectares) containing 76 unpatented lode claims.
GPTC has decided against continuing on with Dun Glen Prospect and the surrounding Sierra Claims.
To receive timely updates and information on any future developments as they occur please send an email to info@goldenpatriotcorp.com.
Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in Golden Patriot, Corp. filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov.