Trading Symbol: URA - TSX.V
January 23, 2013 Frankfurt: AU3
Anglo-Canadian Mining Corp. (the "Company") is pleased to provide a corporate update that includes a 2012 summary of operations its 2013 Exploration Plans. Though 2012 generally proved challenging for junior mining companies seeking exploration financing, the Company was able to achieve several key milestones, which provide the foundation of its 2013 Exploration Plans. In addition, management also believes that enhanced liquidity via positive market sentiment could further augment its plans.
Year 2012 highlights include: positive drill results at its wholly-owned Princeton Copper Project, which is located adjacent to Copper Mountain's mine; encouraging geophysical results from airborne surveys at the Zeus and Stirrup Creek gold claims, and; increasing land positions at Stirrup Creek, which now encompasses 1700 hectares, and the Lucky Boy silver project, as well as Crown grants for the latter. The corporate side included the appointment of Mr. Peter Espig to the Board of Directors. Mr. Espig, who worked as an international financier for firms such as Goldman Sachs brings a high level of financial expertise and corporate compliance experience to the Company.
Year 2013 Exploration Plans:
The Company's 2013 exploration plans will focus on expanding its 2200 hectare Princeton Copper Project. The Company has already drilled 27 holes, totaling 6700 metres, of which 24 were located in the Combination Zone. As published on August 28th and Feb. 7th of 2012, the Company received positive drill results that include 20 metres of 0.64% and 38 metres of 0.564 %. The Company has intersected significant intervals on over 70% of its holes and hopes to expand its resource by drilling ten holes of 300 metres each during 2013, subject to funding. In addition to expanding the Combination Zone resource, the Company hopes to follow up on a key target identified by the 2011 3D IP/Mag geophysical survey with additional holes in the high chargeability zone.
Because the Princeton Project is located in a non-harsh weather region and the Company has a longstanding relationship with its drilling partner, historical drilling costs have remained within budget. The estimated budget of the 2013 Exploration Plan at the Princeton Property is $500,000. The Company is focus on raising funds sufficient to commence the drilling program.
About Anglo Canadian Mining Corp:
Anglo Canadian Mining is a junior mineral exploration company with copper, gold and uranium properties in Quebec, Colorado, British Columbia, and Yukon. For more information on the Company and its projects, please visit the website at www.anglocanex.com
ON BEHALF OF THE BOARD OF DIRECTORS
Len J. Harris, President
T: 604 669 6807 Toll Free: 866 488 3838
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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