Toronto, Ontario, April 3, 2012: Canadian Silver Hunter Inc. (the “Company”) (TSX-V: AGH) is pleased to release initial results from four holes of the recent six hole drill program at the Keeley-Frontier silver project in South Lorrain township. Significant silver-bearing zones were intersected in three of the four holes.
Drill hole CSH12-03 returned a silver value of 1435 g/t over 0.3 metres, starting at 121.6 metres. Additional silver assays were returned from the hole between 113.6 and 122.3 metres include 99.9 g/t over 0.3 metres, 59.5 g/t over 0.4 metres, and 29.6 g/t over 0.5 metres. Additional sampling is required to bracket and infill this zone of silver mineralization.
A second zone of silver mineralization occurs further downhole in CSH12-03, highlighted by a silver value of 40.6 g/t over 0.4 metres, starting at 137.6 metres. Anomalous Ag, Co, As and Bi values occur above this intersection; additional sampling is required to determine if this zone is continuous with the zone 15 metres up hole, described in the previous paragraph.
It is important to note that this area appears to be the extension of the 40 Vein, which has received very limited exploration by previous operators.
Hole CSH12-04 intersected a zone starting at 254 metres that returned silver assays of 25.3 g/t over 2.0 metres and 41.7 g/t silver over 1.9 metres. Check assays are being completed along with additional sampling in this area. This zone is highly anomalous in bismuth.
Hole CSH12-05 intersected the Beaver Lake drift at 248.8 metres. The east wall of the drift assayed 146 g/t Ag over 0.8 metres and the west wall assayed 12.7 g/t Ag over 0.4 metres. The drift portion was 1.1 metres long with 0.2 metres of subangular to angular gravel sized fragments recovered. This material could be a combination of wall rock and broken muck material, and returned an assay of 447 g/t Ag. The composite value for the zone is 267 g/t Ag over 2.3 metres, including 0.9 metres of lost core or void.
Hole CSH12-06 was drilled slightly more steeply to avoid the drift and stope area along the Beaver Lake fault vein. This was successful and assays are expected soon for this hole.
President of the Company, Jeff Hunter stated: “We are really pleased with the results so far from this first round of drilling…the fault structures and silver-bearing veins we are intersecting near the historic workings are confirming the work we are doing to compile the historical data into a 3D model of the Keeley-Frontier Mine. More importantly we are also seeing significant silver values in relatively undeveloped areas of the property. We are still waiting on assay results for the last two holes. Progress has been right on track, and we believe the potential for this property is very good”
The 3D Gemcom model has been built in an attempt to illustrate the current understanding of the structure and deposits based on historical data. Full details of the model are available on the company’s web site www.canadiansilverhunter.ca.
An update of drill results will be released once assay results have been received from the remaining two holes. A final table of results will be released once all check assaying and additional sampling results have been received. All analyses reported in this release are from assay certificates which passed both the Company’s and AGAT Laboratories QA/QC procedures.
All drill core was logged at the Company’s core shack facility in North Cobalt, Ontario. Samples were split and sent for aqua regia digestion and multi-element (including Ag, Co, Ni, Bi, Sb) analysis (ICP-OES finish) at AGAT Laboratories Ltd. in Mississauga, Ontario. The drill program was carried out under contract by Laframboise Drilling Inc. of Earlton Ontario and supervised by David R. Jamieson P.Geo and Dean R. Cutting P.Geo
AGAT is a fully accredited laboratory and conforms with the requirements of CAN-P-4E (ISO/IEC 17025:2005) and CAN-P-1579 by the Standards Council of Canada. AGAT Laboratories provides delivery of split core samples from the Company’s core shack in North Cobalt, to the preparation lab in Sudbury, Ontario. Analysis is performed at AGAT facilities in Mississauga, Ontario. QA/QC programs include the use of standard and blank samples inserted into the assay stream by the Company’s personnel every 25 samples in addition to the lab’s internal QA/QC programs. Samples assaying greater than 100 g/t Ag are fire assayed with a gravimetric finish.
Mr. Gerald Harron, P.Eng., is the “Qualified Person” under NI 43-101 and has reviewed the technical information contained in this news release.
About Canadian Silver Hunter
CSH is a junior mineral exploration company focused primarily on the identification, evaluation, acquisition and exploration of mineral properties. CSH holds a 100% interest in the prolific past producing Keeley Frontier project, located in the South Lorrain Township, Larder lake Mining Division, Ontario. CSH’s current focus is on the exploration of the Keeley Frontier project for silver, cobalt and nickel deposits.
For further information please contact:
Canadian Silver Hunter Inc.
President and CEO
Tel: (416) 707 4230
CAUTIONARY STATEMENT: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain “forward-looking statements”. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.