|November 21, 2011|
Elgin Mining Commences Drilling at the Lupin Gold Mine
|Vancouver, British Columbia, November 21, 2011 - Elgin Mining Inc. ("Elgin Mining" or the "Company") (TSX-V: ELG) is pleased to announce the commencement of drilling at its Lupin Gold Mine ("Lupin Mine") in Nunavut Territory. The drilling will be focused on testing known extensions of the main Lupin ore body nearby the Lupin shaft and within the mining complex. Drilling is targeted to test the near surface extension of the West Zone South of Shaft (WZSOS) (see attached images).|
The WZSOS was explored and has very limited development during previous operations. Based on a detailed data review by Elgin, grades and thicknesses appear to be capable of supporting underground production. In addition, very limited drilling was completed from surface. However, results show that there is excellent potential to identify additional resources and improve overall confidence in the target. Key historical intercepts include:
Elgin also plans to test the eastern extensions of the main Lupin ore body early in 2012. As was the case with the WZSOS, these extensions had very limited drilling with most being at depth. However, results indicate that the ore body continues for several hundred metres in that direction.
Following completion of the above program and upon receipt of all necessary drilling and land use permits, the Company plans to commence a helicopter supported reconnaissance drill program on several targets identified from a recently completed ground geophysics program. Drills for this program will be mobilized late in Q1-2012.
"We are very pleased and excited to commence drilling at the Lupin Mine." said Mr. Patrick Downey, President and CEO of Elgin. "Over the past few months we have put together an experienced exploration team, and completed a significant amount of work in terms of data review and ground geophysics. We believe that the WZSOS and the eastern extension offer excellent potential to expand on the known resources at the Lupin Mine. With our current Class A water licence, excellent infrastructure and mill, our plan is to outline sufficient resources to recommence operations at the Lupin Mine in the most time and cost effective manner possible."
Exploration at the Lupin Gold Mine is being conducted under the supervision of Ms. Vivian Park, P.Geo., who is the Company's Qualified Person as defined by National Instrument 43-101. Ms. Park has also reviewed and approved the contents of this news release as applicable.
Elgin Mining Inc.
Elgin Mining is a Canadian based company focused on the exploration and development of the Lupin Gold Mine and Ulu gold project, both located in Nunavut Territory, Canada. In addition, Elgin's portfolio includes a 35% interest in Auracle Resources, which is exploring the Mexican Hat property in Arizona and an exclusive right and option to earn a 60% interest in Lincoln Mining's Oro Cruz (California) and La Bufa (Mexico) gold projects. Elgin Mining will also selectively review opportunities to add advanced stage development projects to its portfolio.
For further information, please visit Elgin Mining's web site at www.elginmining.com.
Elgin Mining Inc.
President & Chief Executive Officer
Tel: (604) 682-3366
Fax: (604) 682-3363
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which include the expected timing of the commencement of trading of Elgin's shares and warrants on a consolidated basis and management's assessment of Elgin's future plans and operations and are based on Elgin's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects" "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Elgin's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Elgin undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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