Further Consolidation Of Gold Chain Land Position With Agreement For Tyro Patented Claims

OTTAWA - Gold79 Mines Ltd. has completed a Definitive Lease and Option to Purchase Agreement for the Tyro Group patented claims and results of initial sampling from the Tyro claims. The claims, covering 57.4 acres, are immediately northeast of the Banner patented claims. The Tyro claims were subject to historical mining as recently as the 1980's and our initial work has yielded positive gold results.

Derek Macpherson, President & CEO, said, "The Tyro claims contain another highly prospective exploration target for the Company which we plan to test with the current drill program. The ~1 km northeast-trending structure has yielded impressive results from initial sampling and is a high-priority drill target for Gold79. This agreement provides us with another set of patented claims, which will be of strategic advantage when we get to the development phase for Gold Chain."

The Tyro Vein is referred to as a Type B vein which are transverse structures (north-trending) to the northwest-trending mineralized zones parallel to the North Oatman trend. The Type B veins, i.e. Sunset and Tyro veins, are likely hosted by normal faults and are more discernable than the broader stockwork and breccia Type A veins, i.e. Red Hill 'ledge' at the Banner mine.

The Tyro mine was developed both underground (early) and as an open pit (1980s) along a broad zone of quartz-chalcedony veins and stockwork hosted by Pre-Cambrian granite. The zone trends NNE, dips steeply and can be traced for over 1 kilometer. Open pit exposures reveal a width exceeding 50 meters.