Mistango Announces More Results From Omega

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MISTANGO RIVER RESOURCES ANNOUNCES MORE RESULTS
FROM OMEGA’S LATEST DRILL PROGRAM IN THE OPEN PIT AREA

Kirkland Lake, Ontario August 7, 2012 Mistango River Resources Inc. (“Mistango”)(CNSX: MIS, OTC: GLRAF) today announces the final ten drill hole results from the 11,515 m drill program at Omega. This completes the drill program at the open pit area of the Omega Project.
HIGHLIGHTS:

  • OM-12-80 1.113 g/t Au over 15m and 16m of 0.959 g/t Au and 17m of 1.248 g/t Au
  • OM-12-81 1.259 g/t Au over 10m and 12m of 3.808 g/t Au
  • OM-12-84 1.060 g/t Au over 28m and 10m of 2.408 g/t Au
  • OM-12-88 0.810 g/t Au over 44 m

These and other significant assay results are listed in the table below:

Hole #

Section

From (m)

To (m)

Interval (m)

Au (g/t)

Zone

Remarks

 OM-12-080  550W  72.0  73.0  1.0  1.410  17  Open Pit
 and  77.0  78.0  1.0  18.450  17  Open Pit
 and  81.0  88.0  7.0  0.625  Open Pit
 and  100.0  115.0  15.0  1.113  Open Pit
 and  125.0  141.0  16.0  0.959  Open Pit
 including  125.0  137.0  12.0  1420  Open Pit
 and  228.0  245.0  17.0  1.248  17  Open Pit
 OM-12-081  600W  81.0  91.0  10.0  1.259  1-2  Open Pit
 and  97.0  101.0  4.0  1.070  1-2
 and  126.0  138.0  12.0  3.808
 and  224.0  228.0  4.0  1.550
 OM-12-082  600W  8.80  18.0  9.2  1.070  1-2  Open Pit
 including  8.80  13.0  4.2  1.118  1-2
including  17.0  18.0  1.0  4.740  1-2
 and  153.3  154.6  1.3  1.080  1-2  Open Pit
 and  165.5  170.0  4.5  1.883  1-2  Open Pit
 OM-12-083  650W  189.0  192.0  3.0  3.433  1-2  Open Pit
 OM-12-084  700W  147.0  149.0  2.0  1.975  1-2  Open Pit
 and  164.0  192.0  28.0  1.060  1-2  Open Pit
 including  164.0  165.0  1.0  1.570  1-2  Open Pit
 including  177.0  187.0  10.0  2.408  1-2  Open Pit

OM-12-085

700W

 10.0  20.2  10.2  0.553  1-2  Open Pit; DDH hit stope void
 and  52.0  58.0  2.0  0.992  1-2  Open Pit
 and  194.0  200.2  6.2  1.388  1-2  Open Pit
 and  203.0  207.0 4.0  2.660  1-2  Open Pit
 and  230.0  230.6  0.6  1.390  1-2  Open Pit
 and  239.0  245.0  6.0  1.273  1-2  Open Pit

OM-12-086

750W

 145.0  146.2  1.2  0.570  1-2  Open Pit; DDH hit stope void
 and  149.0  152.0  3.0  4.133  1-2  Open Pit
 and  155.4  157.0  1.6  1-2  Open Pit
 174.0  177.0  3.0  3.013  1-2  Open Pit

OM-12-087

750W

 205.0  216.0  11.0  1.098  1-2  Open Pit; DDH hit stope void

OM-12-088

750W

 75.2  119.2  44.0  0.810  1-2  Open Pit
 including  75.2  80.0  4.8  2.256  1-2  Open Pit
 including  93.0  97.0  4.0  1.038  1-2  Open Pit
 including  109.0  119.2  10.2  1.145  1-2  Open Pit
 and  142.0  146.0  4.0  0.701  1-2  Open Pit
 including  142.0  143.0  1.0  1.410  1-2  Open Pit
 including  145.5  146.0  0.5  1.170  1-2  Open Pit
 and  258.0  289.0  1.0  0.880  1-2  Open Pit

OM-12-089

700W

 NSV; hit stope void - hole stopped

OM-12-090

800W

 40.0  41.0  1.0  0.910  1-2  Open Pit
 and  51.0  52.0  1.0  0.520  1-2  Open Pit
 and  58.0  59.0  1.0  0.950  1-2  Open Pit
 and  93.0  100.0  7.0  0.853  1-2  Open Pit
 including  98.0  99.0  1.0  3.140  1-2  Open Pit
 and  220.0  224.0  4.0  2.008  1-2  Open Pit

*previously reported: all holes are uncut and over core length; core length is estimated 50-90% of true width; 1 g/t Au multiplied by 0.0291666 equals troy ounces per short ton (to convert from metres to feet multiply by 3.2808). NSV: no significant values. VG: visible gold.

QA/QC was followed in sampling the core. The core is sawed in half for sampling. Standards, blanks and duplicates were inserted into the stream of core samples every 20 metres. The core was assayed at Swastika Laboratories Ltd. at Swastika, ON using 30 gram samples. The core samples were analyzed using the fire assay method and AA finish.
Bob Kasner, President and CEO of Mistango comments: “We have now completed and received the final results of the latest drill campaign. I am very pleased with the results of the shallow drilling in the potential open pit area. We have now started a new drill program to fill in areas of the potential open pit. Approximately 3,000 m over ten holes will be completed prior to commencing a NI 43-101 resource report. A second drill will start in two weeks which will drill deeper holes while the smaller drill will be moved to the Lake Zone. The Lake Zone shows great potential from historic drilling, recent geophysics and soil sampling. The Lake Zone appears to be a NE/SW splay fault in contact with Ultra Mafic rocks and we expect positive assays back around September.”
Mistango has retained the services of AMC Consultants to complete the NI 43-101 resource at the Omega Mine site.
Fred Sharpley, P.Geo. is the Qualified Person defined by NI 43-101 and has reviewed and approved the technical information presented in this news release.

About Mistango River Resources Inc.

Mistango River Resources is a Canadian based exploration and development company holding several properties in Ontario and Quebec, including large land holdings in the Kirkland Lake region. Mistango specializes in precious metals and VMS hosted base metals, with recent projects centered on the Omega and Sackville properties in Ontario. Mistango brings a distinguished board and technical staff with expertise and many years in mineral exploration and mining fields.
This news release contains certain “forward-looking information”. All statements, other than statements of historical fact that address activities, events or developments that Mistango believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of Mistango based on information currently available to Mistango. Forward-looking statements are subject to a number of significant risks and uncertainties and other factors that may cause the actual results of Mistango to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Mistango. Factors that would cause actual results or events to differ materially from current expectations include, but are not limited to, Mistango’s decision to cancel its exploration program on its Omega gold property.

For further information please contact:

Mistango River Resources Inc.
Robert J. Kasner, President and CEO
Telephone: 1 705 567 5351
E-mail:  This email address is being protected from spambots. You need JavaScript enabled to view it.

CHF Investor Relations
Stephanie Fitzgerald, CHF Investor Relations
Telephone: 1 416 868 1079 x 222
E-mail:  This email address is being protected from spambots. You need JavaScript enabled to view it.

Mistango River Resources Inc.
Donald Kasner, Investor Relations
Telephone 705-570-1019
E-mail:  This email address is being protected from spambots. You need JavaScript enabled to view it.