Carson City, NV – Walker Lane Exploration, Inc. (OTC: WKLN) (formerly, Goldspan Resources, Inc.) is pleased to announce that initial geochemical sampling from its wholly owned Paradise Property has returned significant gold values from its PPW 1-9 claims in the historic Paradise Peak Mining District, Nevada. Four samples were collected from drill cuttings piles from four separate holes in the east-central portion of the claim block and were found to contain from 0.264 to 0.874 ppm gold (0.008 to 0.026 opt Au) as reported by Inspectorate Labs of Reno, Nevada. The four widely-spaced and consecutive drill holes were drilled by FMC Gold in the early 1990’s while performing property-wide exploration associated with its Paradise Peak Gold Mine located 4,500 feet southwest of the PPW claims.
“These results represent drilled gold numbers in excess of typical present-day, open pit mine cut-off grades for oxide and mixed oxide-sulfide alteration,” stated Steve Jones, VP of Exploration for Walker Lane Exploration, Inc. “and indicate a possible continuous zone of significant gold alteration and mineralization that is at least 1,400 long and 300’ wide.” The drill cuttings piles were logged as containing oxide and mixed oxide-sulfide alteration hosted in volcanic tuffs that appear to be the same as those found within the four historic Paradise Peak pits. Cuttings piles are generated when drilling reverse circulation drill holes and represent a continuous sample record of the hole from the top to the bottom of the hole. The hole collar is typically located within 20-30 feet of the cuttings pile which collects beneath the drill rig discharge hose and splitter. The four holes found on the PPW claims appeared to have been undisturbed since their drilling more than 20 years ago. The holes were sampled so as to determine a representative value through the drilled alteration although the depth and thickness of alteration could not be determined.
About Walker Lane Exploration, Inc.
The Corporation is an early-stage gold and silver exploration company primarily exploring for precious metals with the Walker Lane region of Nevada where the Corporation presently owns three properties; Pyramid, which is located in Washoe County, Nevada, consisting of 10 lode claims leased from the Bureau of Land Management (BLM). West Trinity, which is located in Churchill County, Nevada consisting of 24 lode claims leased from the BLM. And, Paradise, which is located in Nye County, Nevada, consisting of 13 lode claims leased from the BLM. The Corporation’s focus is to identify mineral areas within the Walker Lane region that are open to staking and claiming, or to acquire properties management deems viable for exploration. Once a property has been secured, management conducts an assessment of the prospect for exploration, which can include sampling, trenching and drilling in order to develop the prospect for leasing, sale or joint venture with other mining companies. Further information can be found on Walker Lane’s website at: www.walkerlaneexploration.com
Walker Lane Exploration, Inc.
Under the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.