May 31, 2011 (Investorideas.com Mining stocks Newswire) - Yale Resources Ltd. (TSX-V: YLL and Frankfurt: YAB) is pleased to report a geophysics program has finished at the Los Amoles Property located in central Sonora State and that our partner, Sonora Resources Corp. has committed to the next term of the Agreement with Yale by issuing to Yale an additional 200,000 shares in Sonora Resources (SURE-OTC). Yale now owns 400,000 shares in Sonora Resources.
In addition, 124 rock samples were taken from historic workings, mineralized dumps and outcrops. Samples have been submitted to Inspectorate Labs' preparation facility in Hermosillo. Results are expected in approximately three weeks.
About the Los Amoles Property:
The early stage wholly owned 16.3 square kilometre Los Amoles Property is located approximately 150 kilometres northeast of the Hermosillo, Sonora State, Mexico. The property is 10 kilometres northeast of the La Caridad Mine, operated by Grupo Mexico, which is one of the largest mining and processing complexes in Mexico.
Sonora Resources Ltd. (previously Nature's Call) has an option to earn a 70% interest in the property by paying to Yale US $ 50,000 (received), spending US $ 900,000 on exploration expenditures and issuing 1,000,000 shares (400,000 have been received) to Yale over three years.
Work performed to date by Yale has concentrated on an area (the Rosales area) that is on the south eastern edge of a 4.0 by 2.75 km regional magnetic anomaly. Yale's interpretation is that the Rosales area represents silver-lead +/- gold veins that are distal to a porphyry system. The potential for this regional anomaly to reflect a buried porphyry has yet to be tested. Many of Sonora's most significant porphyry deposits are located within 70 km of the Los Amoles property.
Samples from Los Amoles were prepared and analyzed by IPL Inspectorate in their facilities in Mexico and Vancouver, respectively. Samples generally consisted of 1-3 kg of material. Gold and silver analyses were performed by 30 gram fire assay with an AA finish. Samples with greater than 100 g/t silver were re-assayed using gravimetric methods.
Ian Foreman, P.Geo., is Yale Resources' Qualified Person, as defined by National Instrument 43-101. The Los Amoles property is an early stage project that requires additional sampling and geological mapping to fully determine the project's potential.On behalf of the Board,
Ian Foreman, P.Geo.
Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. For additional information on Yale Resources please call the Company at 604-678-2531
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Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Yale Resources Ltd.