March 1, 2013 - Winnipeg, Manitoba - Cougar Minerals Corp. - TSX-V: COU ("Cougar" or the "Company") Mr. Murray Nye of Cougar Minerals Corp. reports that drilling has commenced on Cougar's Rice Lake Properties. Cougar Minerals Corporation and San Gold Corporation ("San Gold") have commenced the winter drill program on the Rice Lake area properties pursuant to the terms of the option agreement between Cougar Minerals Corporation and San Gold Corporation (see Cougar's June 14, 2011 press release for complete details). The program is in the second year of the five year option agreement.
The program started in mid-February, and San Gold intends to complete approximately 10,000 feet of diamond drilling prior to spring break-up. San Gold's 2013 drilling plans for Cougar's properties include approximately twenty holes with an average core length of 500 feet.
The ongoing drill program is a follow up to the information that is contained in the National Instrument 43-101 Technical Report commissioned by Cougar Minerals on the PFG/Bill Property dated May 2010 and available on Sedar, dated September 2, 2010.
The focus will be on PFG5 claim on the north-central portion of the Cougar Claim Blocks. The property is 6 kilometres east of the Rice Lake Mine and 4.5 kilometres east of the San Gold Hinge Zone Deposit. The company is currently drilling a fifth hole on the "On the Mark" showing. Four holes totaling 2,000 feet have been drilled. The vein has been accompanied by several feet of silicification in holes drilled to date. No assays have been received to date.
The "On the Mark" showing is located 1.2 kilometres northeast of the Carbucketty showing, near the northern property boundary. It is another new discovery resulting from Cougar Minerals' 2009 work program on the property. A well-defined 3 to 4 metre wide north-south trending shear zone occurs at the On the Mark showing, and can be traced on-strike in outcrop for 150 metres. Numerous quartz veins and veinlets, up to 0.5 metres in width, occur within the shear zone. Samples from the showing were consistently elevated in gold, with values including 13.44 g/t Au, 8.92 g/t Au, 3.0 g/t Au and 3.02 g/t Au. The showing occurs on the western margin of a swampy topographic low linear. It remains open on-strike in both directions.
Plans include a series of shallow holes to test the "Carbucketty" showing area. The shallow holes drilled are to evaluate showings that were previously identified by Cougar prospectors.
The "Carbucketty" showing is situated in the north-central part of the property, near the centre of the PFG 5 Claim. It was discovered during Cougar Minerals' 2009 prospecting program, as a result of follow-up to several 2004 samples reported by MacQuarrie (2006), which had returned high gold values. Narrow quartz veins occur within a 2 to 6 metre wide north-south trending shear zone which can be traced in outcrop of approximately 250 metres. Visible gold was observed in one narrow tourmaline-bearing quartz vein within the shear zone. A sample from this vein returned 78.66 g/t Au. Most of the samples collected from the Carbucketty showing were anomalous in gold, with typical values ranging from 100 ppb Au to 1090 ppb Au. The Carbucketty showing occurs within a prominent north-south topographic low linear which is often devoid of outcrop. The showing remains open on-strike in both directions, is untested by any stripping, systematic sampling or diamond drilling.
Upon completion of the drill program the Company will do an update announcing the results of the winter drilling program.
COUGAR MINERALS CORPORATION
s/ "Murray Nye"
President & Chief Executive Officer
For more information, please contact:
Cougar Minerals Corporation
Murray Nye, President & CEO
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release may contain "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to Cougar's exploration program and plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "believes", "plans", "seeks", "expects", "budget" or variations of such words or statements that certain actions, events or results may, could, will, will be, would be or are expected to be. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Cougar to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Cougar does not undertake to update any forward- looking information, except in accordance with applicable securities laws.
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