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EVERTON Exploration Update, DR - Spins-off Non-core Labrador Properties

Monday, March 30, 2009

Everton Resources Inc. ( TSX-V: EVR, Frankfurt: ERV) ("Everton" or the “Company”) is pleased to provide an update on its current exploration activities in the Dominican Republic.


A comprehensive surface evaluation program including mapping, sampling, data integration and a first phase of six exploratory diamond drill holes totalling 443 meters was recently completed on the 66-km2 Fressó concession located in the north-western part of the Dominican Republic. Everton has the option to acquire a 100% interest in the Fressó concession over a period of up to two years.

To date, the surface evaluation program includes the collection of 2,261 soil samples, 638 rock samples and 125 stream sediment samples which defined five prospects, mostly associated with high- and low-sulphidation epithermal gold environments. The prospects are all located along northwest and northeast-oriented structural breaks and local lineaments, indicating that these structures played a role in the channelling and distribution of precious and base metal mineralization on the Fressó concession.

The five prospects are defined by multi-element soil anomaly assemblages that extend over strike lengths up to 5 km long by 1 km wide. Prospects are identified as follows:

Prospect Name

Soil anomaly size


Los Españoles & Guaconejitos

2.5 km x 1.2 km

Structural - gold

Fressó Hill

1.0 km x 0.6 km

Structural, disseminated - copper

Cerro Coronel

1.5 km x 0.5 km

Structural, disseminated - copper

Los Jíbaros & El Corozo

5.0 km x 1.0 km

Structural - gold

Juan Miércoles

0.3 km x 0.3 km

Structural - gold, copper

Geological mapping has revealed information not previously documented on the property, such as the presence of porphyritic and strongly altered dacites in contact with sedimentary chert and volcanic units. The dacite and accompanying alterations are associated with strong mineralization of stockwork and disseminated sulphides (showing as oxidized iron caps or gossan). Alteration characteristics suggest shallow level epithermal type of mineralization including strong silicification and advanced argillic alterations including kaolinite and possibly alunite. Surface results to date show very anomalous values including highlights of 1.89 grams per tonne gold (“g/t Au”) and 1.34 g/t Au in soil samples, and 9.61 g/t Au and 1.78 g/t Au and 4.15% copper (“Cu”) in rock samples. Numerous other samples are anomalous in gold and copper, including a rock sample from a mineralized quartz vein assaying 9.61 g/t Au collected during the previous summer mapping.

The 1,500-meter drill program announced in December 2008 was partially completed with the testing of coinciding induced polarization (IP) and soil anomalies. The program intersected some sulphide mineralization from which assay results returned low gold and base metal values with a maximum of 0.40 g/t Au, and 0.42 g/t Au and 0.67% Cu over 1.50 meters. The drill program on Fressó will resume this spring to test the above mentioned prospects. Trenching work is being proposed over selected soil anomalies.


A 2,193-meter drill program was completed last fall on two of the eight concessions comprising Everton’s 100%-owned Maimón project, namely the La Yautía and El Llano concessions. The program was testing chargeability anomalies in conjunction with alteration zones and soil anomalies. Although no economic intercept was cut, most of the drill holes encountered a sulphide mineralized hydrothermal alteration. The best intersection was cut in hole ELL-06 on El Llano with 4.5 meters grading 0.13% zinc and 0.41% Cu.


Everton has signed an agreement (the “Agreement”) for the sale of the mineral rights on 13 properties covering 668 km2 in the Labrador Trough region of Quebec to Focus Metals Inc. (“Focus Metals”), a company previously listed on the TSX Venture Exchange (the “Exchange”) under the name 3D Visit Inc. Focus Metals was reactivated by management in 2008 as a mining exploration company. Pursuant to the terms of the Agreement, Everton will receive 6 million common shares of Focus Metals representing approximately 30% of the current shares of Focus Metals, at a deemed price of $0.08 per share, for an aggregate consideration of $480,000. The completion of the transaction is subject to the listing of Focus Metals’ common shares on the Exchange by no later than December 31, 2009.

The consideration paid by Focus Metals represents the total acquisition and exploration costs incurred to date by Everton on the properties. The transaction was approved by all the directors of Everton with the exception of André Audet, President and CEO of Everton, who declared his interest as President of Focus Metals and therefore did not participate in the vote. The transaction is subject to the approval of the Exchange.

This press release was prepared under the supervision of Marc L’Heureux, P. Geo. and VP Exploration of Everton, who acts as Everton’s Qualified Person as defined by National Instrument 43-101.

Stock Options

Effective March 9, 2009, the Company has granted options to purchase up to 690,000 common shares of the Company to Directors, Officers, and an employee. Each option entitles the holder to purchase one common share of the Company at a price of $0.10 per share for a period of five years. The options vest over an 18-month period.


Everton is well funded and actively exploring in the Dominican Republic adjacent to the US$2.7 billion Pueblo Viejo project, currently being developed by the world’s largest gold mining company, Barrick Gold Corporation (60%) (NYSE/TSX: ABX) in partnership with Goldcorp (40%) (“Goldcorp”) (NYSE: GG, TSX: G). Pueblo Viejo is estimated to contain 22.4 million ounces of gold, 455 million pounds of copper and 131.3 million ounces of silver. Everton is also exploring in the Opinaca region of James Bay, Quebec where the Company has amassed one of the largest land claims adjacent to Goldcorp Inc.’s Eleonore gold deposit, which currently hosts an estimated mineral resource of 5.3 million ounces of gold.

For more information, please contact:

Andre Audet, Chairman & CEO
[email protected]

Tel: 613-241-2332
Fax: 613-241-8632

This press release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Everton’s plans, objectives, strategies, expectations and intentions. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to Everton, or its management, are intended to identify such forward-looking statements. Many factors could cause Everton’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this press release represent Everton’s views as of the date of the release. While Everton anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements. All subsequent written and oral forward-looking statements attributable to Everton or persons acting on its behalf are expressly qualified in their entirety by this notice.

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.