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Everton Provides Update on its Ongoing Exploration Programs in the Dominican Republic

Tuesday, October 25, 2011

OTTAWA, ONTARIO--(Marketwire - Oct. 25, 2011) -Everton Resources Inc. ("Everton") (TSX VENTURE:EVR) (FRANKFURT:ERV) announces the following updates in connection with its on going exploration programs in the Dominican Republic.

"This update confirms the execution of our exploration strategy for the Dominican Republic is on track," said Andre Audet, Chairman and CEO of Everton Resources.

"We've only achieved a small portion of our APV South drilling objectives as deep-drilling geology and mechanical obstacles slowed our progress. With only five holes reporting though, we're still some way from unlocking APV's potential."

"The mechanical problems that beset our initial drilling - which are typical of a new drilling program - have been resolved and we're moving forward now with confidence," said Mr. Audet, adding that the company is now well-positioned for building additional shareholder value after re-negotiating an agreement with Brigus Gold Inc., to acquire 100% ownership of the APV, Ponton and La Cueva concessions.

"Ponton is a new discovery some 20 kilometers east of Pueblo Viejo. While this project is at the earliest stage, we see great potential here for next year," he said.

The updates are as follows:

Ampliacion Pueblo Viejo

Since the start of the deep drilling program in March, a total of 4928.87 metres have been completed in nine drill holes. Of these, four holes were aborted before reaching target depth due to mechanical or ground difficulties. We are currently drilling hole 44 and 45.

The highlights of the ongoing drilling program are as follows:

  1. Hole APV11-33 intercepted four thick intervals of strongly anomalous gold and copper (54.00 m @ 0.29 g/t Au and 0.12% Cu; 44.20 m @ 0.12 g/t Au, 51.85 m @ 0.12 g/t Au and 38.05 m @ 0.16 g/t Au).
  2. Hole APV11-36 intersected 39.65m @ 0.25 g/t Au and 0.18% Cu
  3. Holes APV11-38 and APV11-39A succeeded in penetrating below the silica lithocap achieving depths of 817.65 and 804.15 m respectively. At depth a monzonite-diorite-granodiorite porphyritic intrusives complex was detected which exhibits mineralisation style typical of porphyry copper-gold-molybdenum systems. The possibility exists of finding either structurally controlled mineralisation or large bulk tonnage porphyry Cu-Au-(Mo) mineralisation. A research project with participation of Universidad de Barcelona and the George Washington University has been initiated to characterise these porphyry related intrusives.


Table of drill holes completed to date and status of assaying:

Hole Target TD_m Status Drilling Status Assay Reports
APV11-33 Arroyo Hondo North 437.15 Completed /Aborted Completed
APV11-36 Arroyo Hondo South 513.70 Completed Completed
APV11-37 Miguel de Peña 357.00 Completed /Aborted Completed
APV11-38 Arroyo Candito / East Colorado 817.65 Completed Completed
APV11-39 Arroyo Hondo North 18.10 Completed /Aborted Completed
APV11-39A Arroyo Hondo North 804.15 Completed Completed
APV11-40 Silica Ridge 475.80 Completed Pending
APV11-41 Loma La Cuaba 1000.85 Completed Pending
APV11-42 Pinnacle Hill 123.97 Completed /Aborted Pending
APV11-43 Pinnacle Hill 380.5 Completed Pending
APV11-44 Pinnacle Hill In progress Pending
APV11-45 Pinnacle Hill In progress Pending

Note: holes APV11-34 and APV11-35 are located within the La Lechoza prospect.

Click here to view map.

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The lithological units intersected in these holes coincide with the rocks mapped at the surface during the various geologic mapping campaigns conducted by Everton including andesite and andesitic lithic tuffs, dacite porphyries and minor sediments. The rocks in the lithocap show the same intense advanced argillic (quartz-pyrophyllite-alunite-kaolinite) and zones of strong massive silicification. Shearing and brecciation is related to north to low angle trust faulting that have dislocated the stratigraphic sequence. Mineralisation is pervasive throughout the lithocap as disseminated to locally massive sulphides and as veining stockwork. The units subjacent to the lithocap are a complex intrusive with varied lithologies including diorite, monzo-diorites and minor tonalite, ranging from fine grained to porphyritic in texture. These rocks show little deformation.

Holes APV11-33, APV11-36 and APV11-39 were drilled along the border of the Ampliacion Pueblo Viejo concession to explore possible mineralised structures extending from the adjacent pits of Arroyo Hondo I and II.

Hole APV11-37 was located on the western end of the concession and was designed to test multi-element rock and soils geochemical anomalies. The hole was abandoned before reaching target depth.

Hole APV11-38 was drilled close to the southern limit of the concession and on the edge of the lithocap to test geochemical anomalies and alteration assemblages that include a cluster of occurrence of alunite and dickite.


Preliminary results of the detailed surface reconnaissance and soil and float sampling programme conducted on the property are as follows: A multi-element (Au-Ag-Cu-Zn-Mo-Pb-Sb-Hg) soil geochemical anomaly on Loma Majagual measuring 2.4 x 1.2 km has been defined. Among the highlights was a rock sample that returned: 0.61 g/t Au, 29.8 g/t Ag, 0.63% Cu, 0.13% Zn, 136 ppm Mo and 498 ppm Pb.

The geochemical anomaly coincides with a broad area of advanced argillic alteration, which until now, were undocumented. Reconnaissance stream sediment and rock geochemistry conducted in 2007 to 2010 confirms this. Trenching is underway to refine drill targets ahead of the first ever drilling program on the Ponton property.

The mineralisation appears to be contiguous onto an adjacent mineral property, which has been secured by the Company by means of an Option to Purchase Agreement signed on September 20 with the concession owner. By this agreement the Company has the exclusive option for one year, which may be extended for a second year at the Company's option, to acquire 100% ownership in exchange for a 1% NSR to the concession owner.

Qualified Person

Hugo S. Dominguez, M.Sc., C.P.G., General Manager of Everton Minera Dominicana S.R.L., and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration programs of Everton in the Dominican Republic and has reviewed and approved the information contained in this news release.

Sampling, Assaying and Quality assurance / Quality control (QA/QC)

Personnel at the projects photograph each individual core box from each core hole prior to measuring core recovery and geologically logging and sampling the hole. The core is then sawn in half with one half going to the lab and the other half kept for reference. All sample shipments are sealed and shipped to Acme Analytical Laboratories (R.D.) S.A. at Maimón, Dominican Republic for preparation. A formal QA/QC programme has been initiated including the insertion of accepted standards, duplicates and appropriate blank material in the sample stream. Prepared samples are then sent to the Acme Analytical Laboratories Ltd. in Vancouver for analysis.

ACME is an ISO 9001:2008 qualified assayer that performs and makes available internal assaying controls. Certified blanks and standards are systematically used as part of Everton's QA/QC program.

About Everton Resources Inc.

Everton Resources and Brigus Gold Inc., Everton's exploration partner in the Dominican Republic, have reached an agreement whereby Everton will acquire 100% ownership of Brigus' remaining interest in the Ampliación Pueblo Viejo II ("APV"), Ponton and La Cueva concessions in the Dominican Republic. Everton is actively exploring adjacent to the US$3.8 billion Pueblo Viejo project, currently being developed by the world's largest gold mining company, Barrick Gold Corporation (60%) (NYSE:ABX)(TSX:ABX) in partnership with Goldcorp Inc. (40%) ("Goldcorp") (NYSE:GG)(TSX:G). Planned divestiture of its 100%-owned subsidiary Hays Lake Gold containing the Shoal Lake Gold Project in Kenora, Ontario is expected to provide internal funding to advance the Ampliacion Pueblo Viejo project. Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Aurizon Mines Ltd. who is advancing Everton's interest by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit.

Maps showing the location of the properties can be found

This news 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 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, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. 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.

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