WHO – Mclaren Resources – Suite 520, 65 Queen Street West, Toronto, ON M5H 2M5 Canada
Tel. 416-203-6784 Fax 416-368-1539 http://www.mclarenresources.com
MCL is listed on the Canadian National Stock Exchange – http://www.cnq.ca – that offers Geologists, land men and investors to take part in early stage property that has potential VALUE. Based on MCL’s announcement on April 21st, 2011 this is a property to watch.
WHAT- McLaren Resources is based in Toronto and is engaged in the gold exploration business. McLaren has an experienced management team exploring gold deposits from its operating base located in the Timmins Gold camp.
APRIL 21ST, 2011 – McLaren Drills 13.95 g/t over 2 meters at Blue Quartz, East Timmins Deepest Hole Indicates Mineralization at Depth Significantly Expands
McLaren Resources Inc. (CNSX: MCL, Frankfurt: 3ML) is pleased to announce the results of the recently completed 5 hole 1690 meters drilling program including 13.95 grams over 2.0 meters on the Blue Quartz Property located in the eastern part of the Timmins Mining District, 10 km from the Black Fox Mine. The recent results expand the gold mineralization to depth and along strike. The deepest hole intercepted 63 meters of gold mineralization starting at a depth of 351 meters down hole.
Significant Results Include:
HOLE # FROM(m) TO(m) WIDTH(m) GRADE (g/t) G*W
MBQ-11-07 77.26 78.26 1.0 13.3 13.30
MBQ-11-09 341.7 343.7 2.0 13.95 27.90
and 367.0 374.0 7.0 1.34 9.4
MBQ-11-10 155.57 158.67 3.1 5.51 17.08
Includes 155.57 156.8 1.3 10.5 13.86
and 351.00 414.00 63.0 1.21 76.06
Includes 357.00 361.00 4.0 5.56 22.24
Includes 358.00 359.50 1.5 12.8 19.20
Geotechnical Update:
Diamond Drill holes MBQ-11-9 and 10 were among the 2 deepest holes drilled to date on the property and intersected a wide interval of hydrothermal alteration with gold mineralization that include a substantial width of lower grade mineralization, 1.21 grams per tonne gold over 63 meters as well as a higher grade core of 12.8 grams per tonne gold
over 1.5 meters. These 2 holes were located at the west end and below the historic underground workings as well as to the west and below the majority of the limited drilling completed on the property to date. To date the mineralized zone is open to depth and down plunge with indications that the hydrothermal alteration system is increasing in intensity along with both the grade and width of the mineralization
WERE -The Blue Quartz Property is located in the Beatty Township (Ontario) 73km East of Timmins. Access to the property is excellent as a gravel road from Highway # 101 runs directly through the property. Situated on the Abitibi Greenstone Belt, The Blue Quartz property is surrounded by numerous past and presently productive gold mines. Most notably the Black Fox mine (Brigus Gold), the Hislop mine (St Andrews Goldfields) and the Ross mine. The Blue Quartz Property is 43-101 Compliant.

The Blue Quartz Property consists of 25 patented mining claims over 400 hectares. On December 7th 2010, Mclaren entered into an option agreement with Red Mile Minerals to earn a 50% interest in the Blue Quartz Property.Gold was first discovered on the property in 1907. The Blue Quartz mine was reported to have been produced in the 1920s and 30s from underground mining operations from the 514-foot deep mine shaft, including 6000 feet of crosscutting and drifting, over half of which was on the 500 foot level and lateral workings, to a depth of 740 foot level. Recent drilling programs in 2010/2011 confirm a strong potential for discovery on the property.
Significant Results include:
2010 Results (1500m 4 holes Drilling Program)
5.3 Au g/t over 2.8m
23.8 Au g/t over 1m includes 11.9 Au g/t over 2.8m
57.4 Au g/t over .2m includes 1.6 Au g/t over 9.1m
2011 Results (1690m 5 holes Drilling Program)
13.95 Au g/t over 2.0m
13.30 Au g/t over 1.0m
1.21 Au g/t over 63.0m
Includes 5.56 Au g/t over 4.0m
Includes 12.8 Au g/t over 1.5m
5.51 Au g/t over 3.1m
Includes 10.5 Au g/t over 1.3m
Blue Quartz Property Geology – The Blue Quartz Property Straddles both the Pipestone Fault as well as a subsidiary sub-parrallel fault, the Painkiller Fault. The rocks along the trace of these two faults have been silicified and are anomalous in gold. Bedrock mapped on the project area is Early Precambrian belonging to the Abitibi Greenstone Belt.
WHY – CAPITALIZATION OF MCL IS SMALL AND WELL HELD BY KNOWING INVESTORS, MANAGEMENT, FRIENDS AND FAMILY. THIS IS AN INTERESTING STOCK BECAUSE THE MANAGEMENT IS NEW (DEC. 2010) AND THE MCL CHANGE IT’S FOCUS FROM OIL TO GOLD (DEC. 2010).
January 1, 2011
| Common Shares |
20,794,281 |
| Options |
1,975,000 |
| Warrants |
500,000 |
| Shares Fully Diluted |
23,269,281 |
|
Latest price (Jun 01, 2011 11:46 EST) $ 0.200, Volume 0 |
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MANAGEMENT –
VICTOR CHILDS, Chairman and Director – Victor is a British geologist with 35 years of exploration and production experience in the international petroleum industry. Vic has working knowledge with 90% of the world’s hydrocarbon basins. After graduating from the University of Leicester (Hons Geol), Vic spent 16 years working for international oil companies including 10 years with Occidental International. Vic then spent 2 years as a manager of a UK based reservoir evaluation consultant performing engineering studies and asset evaluations worldwide. For the past 17 years Vic has worked as an independent consultant in the international petroleum industry for numerous clients including BHP Billiton, British Gas, Canadian Occidental, Japan National Oil Company, Lasmo plc, Norsk Hydro, Preussag gmBh and the World Bank.
MICHAEL MEREDITH, Vice Chair, Director – Mr. Meredith has over 25 years experience in the resource exploration industry. Mr. Meredith was previously the President of McLaren Resources from 1999 to 2007. From 2005 to 2008 he was Chairman of Hy Lake Gold Inc., a gold exploration company active in Red Lake, Ontario. Mr. Meredith is also the Chairman of Genesee Resources Inc., a natural gas producer in the USA.
IVAN BUZBUZIAN, President, Chief Executive Officer, Director – Mr. Buzbuzian is a private investor with over 30 years experience in public and private company development, including participation in management and fund raising. Formerly a registered investment adviser in Ontario, Mr. Buzbuzian is now a business consultant, a partner in a private real estate company and he sits on the board of Digi Test Diagnostics Corporation.
JOHN HOLKO, Director – Mr. Holko is a petroleum engineer, and the President of Lenape Resources based in Batavia, New York. Mr. Holko has over 25 years experience in the oil and gas industry. He started his career with 4 years at Halliburton Services, then moved to the engineering department at Lenape Resources where he rose to the position of manager of the Appalachian division. In 1995 Mr. Holko proceeded with a management buyout of Lenape Resources from its parent KCS Energy. Lenape is a petroleum exploration and production company which owns and operates interests in several hundred oil & gas wells in the Appalachian Basin. Mr. Holko experience encompasses all aspects of oil and gas well operations, including production, pipeline development, natural gas marketing and market development. He was president of the Independent Oil & Gas Association of New York from 1989-1992 and 1995-1999 and he is involved in numerous industry associations.
PAUL CRATH, Director – Mr. Crath is a Senior Manager of Accilent Capital Management Inc. and a Director of Accilent Raw Materials Group Inc. He is a principal and past interim president and director and currently an adviser to Ballantry Oil & Gas Inc., a private Ontario based oil and gas exploration company with properties in Ontario and British Columbia. Mr. Crath was recently appointed Managing Director of Norvista Resources Inc., a private merchant bank dedicated to investments in the natural resources sector. He is also a principal and Managing Director of Tarra Partners Inc. a merchant bank that acts as investment principal and/or provides advisory services in the areas of institutional real estate, infrastructure, private equity and lending transactions. Mr. Crath is a former Vice-President and Principal of Tricaster Capital Corporation, a family investment company and merchant bank he co-founded with the Campbell family of Toronto, and a former Vice-President and Principal of Hexagram & Co. a venture management company. He began his career as a corporate lawyer at White & Case, LLP in New York City, specializing in acquisition financings. He has a Bachelor of Law Degree from Osgoode Hall Law School at York University and is a Member of the New York State Bar Association.
IVAN BUZBUZIAN, President, Chief Executive Officer, Director – Mr. Buzbuzian is a private investor with over 30 years experience in public and private company development, including participation in management and fund raising. Formerly a registered investment adviser in Ontario, Mr. Buzbuzian is now a business consultant, a partner in a private real estate company and he sits on the board of Digi Test Diagnostics Corporation.
DAVID McDONALD, Chief Financial Officer – Mr. McDonald, C.A. has worked as the CFO of various public and private junior resource companies. Presently, Mr. McDonald is the CFO and Corprate Secretary of Victory Gold Mines.
NADIM WAKEAM, Corporate Secretary – Mr. Wakeam, LLB, MBA, corporate securities lawyer, is a partner in a major Toronto law firm specializing in serving public company resource industry clients.
OPPORTUNITY – LET’S MAKE MONEY – MCL OFFERS AN EARLY STAGE PLAY IN A WELL KNOW AREA OF GOLD PRODUCTION AND ACTIVITY. IT IS A SEASONABLE PLAY (MARCH – OCTOBER) AND HAS MANAGEMENT THAT HAS A STRATEGY TO DEVELOP THEIR PROPERTY DUE TO RESULTS THAT SAY DRILL MORE. McLaren President and CEO commented: “These results indicate that considerable potential exists at depth on the Blue Quartz Mine Property” The chart and news says accumulate at CND $.15 – $.20. Additional results would send MCL’s price to CND $.50 and enable funding for greater development.