Lease-Option Agreement For Daneville Property In Nevada

KELLOG, ID - Idaho North Resources Corporation (IDAH) reported that as part of the Exploration and Mining Lease with Option to Purchase Agreement for the Green Monster Property, the Company also acquired the adjacent Danville Property. The Danville Property is located along the Monitor-Eureka Mineral Belt on the eastern flank of the Monitor Range, approximately 85 miles northeast of the town of Tonopah. The property contains high-grade silver within favorable carbonate rocks along with associated anomalous gold-antimony-barite mineralization.

The sediment hosted "Carlin-style" mineralization and alteration at Danville extends south to the Green Monster Property, which IDAH also controls. Previous work at Danville includes intermittent silver production from underground mines dating to the 1860s and continuing until the 1940s. In the modern era, several companies including MK Gold, Mountain Gold Exploration, and Electrum Resources have explored the area, providing useful exploration data including structural geology and geochemical and geophysical surveys. Outcrop chip samples and mine assays from recent and historical reports range up to 83 opt silver and 0.06 opt gold. IDAH is currently compiling all surface geology and geochemistry and will release a table of the more significant silver and gold assays in the near future.

IDAH President Lane Griffin stated, Danville is an excellent property and its proximity to our Green Monster claim block gives IDAH a dominant position within the emerging Monitor-Eureka Mineral Belt. Our principal target at Danville is a bulk tonnage, disseminated, open-pit silver-gold deposit. Our secondary targets are underground mineralized structural zones hosting very high-grade silver mineralization along fault zones. Next steps at Danville include data compilation; mapping and sampling programs to further refine targets for an anticipated drill program. We are assembling a land package in the newly identified sediment-hosted mineral trend that we believe has the potential to become Nevada’s next large-scale belt for Carlin-type deposits. The agreement between IDAH and Mountain Gold Claims LLC includes the 12 unpatented lode mining claims that comprise the Danville property.