Vancouver, BC - October 30, 2013 - Meadow Bay Gold Corporation ("Meadow Bay Gold" or the "Company") (TSX: MAY) (OTCQX: MAYGF) (Frankfurt: 20M, WKN A1C3DN) is pleased to announce the progress in on its Atlanta gold mining project in Lincoln County, Nevada. During a difficult year in which many junior explorers were forced to pause their work, Meadow Bay Gold continued development activities on its flagship project in eastern Nevada.
The most important single success is the publication of a resource estimate. Gustavson Associates, LLC created a NI 43 101 compliant technical report for the company's Atlanta Gold Project. The table below summarizes Atlanta's resources assuming a 0,015 ounces gold / ton cut-off. The Au-eq (ounces) field gives ounces of gold equivalent when silver is combined with gold in the Au: Ag ratio 1,53.
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/MeadowBay_311013_Deutsch.pdf
With the 3D computer model used to generate the resource estimate, Meadow Bay Gold was able to identify areas for future exploration. There is sufficient potential to expand resources within both the Atlanta shear zone and adjacent Atlanta Porphyry.
The company continues its efforts in obtaining the required exploration licenses. With the support of Sunrise Engineering, the company has completed the necessary biological and cultural studies for Environmental Impact Assessment (EA). A draft of this document has been submitted to the Bureau of Land Management (BLM) together with the request for approval of a Plant Operation Plan (PoO), which is a prerequisite for future drilling.
2013's exploration activities focused primarily on the Western Knolls 5 km area east of the former Atlanta mining operations. A recent gravitational survey conducted by Magee Geophysical Services will complement existing geophysical and geochemical data. The results of age determination in the area of Western Knolls are also available. Exploration work north of Atlanta primarily assessed the potential for mineralization expansion within the Atlanta shear zone.
The improvements to the infrastructure at the project site include the conversion of the former building supervision building into an additional office building and the removal of the former processing plant used by Standard Slag in the former production facility. After the core material had been stored in the processing plant building, a new warehouse for the core material had to be built in the patented mining concession. The new building for storage of core material is large enough to accommodate material from future drilling.
Once the BLM has approved the operation plan, exploration drilling at Western Knolls will commence. Western Knolls is a large area with many target zones that have not been drilled yet and have good potential for finding new precious metal deposits. Initial investigations will take place in areas where geophysical and geochemical measurements have provided evidence of undiscovered mineralization.
Infill drilling is also planned to extend the already published resources in the area of Atlanta Fault and Porphyry Formation. A smaller drill program at the end of 2012 has shown that existing resources can be extended by higher grade material. After revising the 3D model, it turns out that around 40% of the area from which the published resources originate has not yet been sufficiently drilled and even a classification into the category of inferred resources is not yet possible. Enormous resource expansion through cost-effective drilling is possible in these areas. The resources are also open to the north and the angle of inclination.
Dana Durgin, P.Geo., Has reviewed the contents of this news release as a Qualified Person as defined by National Instrument 43-101 and as an independent consultant to the Company.
More information about:
Meadow Bay Gold Corporation
Robert Dinning, Chairman, President & CEO
Charles William Reed, Director
Tel: 604-641-4450
Danny Gravelle, Investor Relations
Tel: 949-481-5396
Forward-looking information
This press release contains "forward-looking information" under Canadian securities laws, including forecasts, estimates and forecasts. Forward-looking information includes, but is not limited to, statements about activities, events or developments that the Company expects to or may have in the future, such as the calculation of a new mineral resource estimate.
Forward-looking information can often, but not always, be expressed by the use of terms such as "plan," "plan," "planned," "expects," or "looks forward to," "does not expect," "continues," "anticipates," , "Estimates," "forecasts," "intends," "potentially," "believes," "does not," or "believes," or words describing a "goal," or variations of such words and phrases or by saying that certain actions, events, or outcomes might "come," "become," or "become."
Forward-looking information is based on a variety of material factors and assumptions and includes: the results of drilling and exploration activities; the assumption that parties under contract provide goods and / or services within the agreed timeframe; that the equipment needed for exploration is available on schedule and does not cause any disruption; that there is no labor shortage or no delay; that the equipment and the equipment work as indicated; that no unusual geological or technical problems occur; and that laboratory services and other related services are available and provided in accordance with the contract. Forward - looking information is subject to known and unknown risks, future events, conditions, uncertainties and other factors that could cause actual results, performance or achievements to be materially different from the future results, forecasts, estimates, forecasts, performance or achievements contained in forward-looking information, directly or indirectly. Such factors include, inter alia, the interpretation and actual results of current exploration activities; Changes in project parameters through revisions of plans; future gold and silver prices; possible deviations in content or yield; unexpected defects in machinery or processes; Non-performance by the parties under contract; labor disputes and other risks typically associated with mining; Delays in regulatory approvals, financing transactions or completion of exploration; and those factors that are disclosed in the company's publicly filed documents. The Company has endeavored to identify important factors that could cause actual events or results to differ materially from those described in the forward-looking information. However, other factors may cause the events or results to not be as expected, estimated or intended. There can be no assurance that any forward-looking information will prove to be accurate. Actual results and future events may differ materially from such statements. Readers are cautioned that forward-looking information is not reliable. The Company is under no obligation to correct any forward-looking information except as required by applicable securities laws.
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