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Greywacke Potential Confirmed

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Posted: Dec 05/12

Masuparia Confirms Greywacke Potential
(see Masuparia News Release Dated 05 Dec 2012 for complete information)

Masuparia Gold Corporation reports that technical results received to date confirm the corporate decision to accelerate the exploration and development of the Greywacke project is justified. The project is a 50/50 joint venture between Masuparia Gold Corporation and Golden Band Resources Inc. (see Masuparia news release dated Nov. 14, 2012 and Golden Band's news release dated Nov. 14, 2012).

A total of 725 samples representing approximately 705.2 metres (m) of core previously not sampled, were acquired from the historic core stored on site. Elevated gold values were obtained from several new intervals, the most significant being from DDH GW02-79 which assayed 5.88 g/t Au over 11.5 m (19.0-30.5m). The historical drilling was completed during the period in which bulk mineable low-grade targets were typically not considered to be attractive. However, a recent review of the intervals utilized to complete the NI 43-101 resource report now indicates a low grade halo that would be of potential interest in considering a bulk mining target. All mineralized intervals, utilizing a 0.45 g/t cut-off, will be reported on Masuparia Gold Corporation's website, with selected holes presented on Table 1 below:

Table 1: Greywacke North Deposit
Mineralized Intervals from selected historical drill holes which have been positively influenced by additional core sampling. 

Drill Hole
From
(m)
To
(m)
Interval
(m)
Grade
(g/t Au)
True Width
(m)
GW89-02 35.0 45.5 10.5 5.01 10.34
GW01-41 118.0 125.5 7.5 16.29  6.7
GW01-43 87.1 94.45 7.35 3.67 4.82
GW01-44 25.82 40.43 14.41 2.75 13.7
GW01-45 46.97 59.25 12.28 5.31 9.81
GW01-46 34.45 48.3 13.85 0.82 13.53
GW01-47 76.0 85.5 9.5 7.40 6.48
GW01-48 40.2 55.0 14.8 3.83 12.82
GW01-49 74.5 85.5 11.0 6.78 8.04
GW01-50 57.7 76.25 18.55 4.92 16.53
GW01-51 24.0 46.85 22.85 4.70 22.5
GW01-52 71.25 89.69 18.44 5.89 16.13
GW02-59 29.0 49.0 20.0 2.01 19.7
GW02-60 30.35 35.0 4.65 9.12 4.21
and 40.5 45.3 4.8 5.40 4.35
GW02-66 31.6 60.64 29.04 2.38 23.19
and 64.5 67.0 2.5 1.97 2.0
GW02-79 6.0 30.48 24.48 3.78 14.43
GW05-82 22.0 74.47 52.47 5.01 46.75
Incl 50.83 69.6 18.77 12.07 16.72
GW08-86 142.2 153.4 11.2 9.07 9.29
GW08-98 39.0 73.53 34.53 3.56 30.52
and 27.56 34.56 7.0 0.50 6.19

Supporting Figures

Grade width and true width are available in Figures 1 and 2.
A total of 64 samples were completed and the compiled results are displayed as Figure 3.
A representation of the magnetic results are presented as Figure 4.


(see Masuparia News Release Dated 05 Dec 2012 for complete information)