Ocean Park Enters Option Agreement on Additional Trapper Area Properties
(via Thenewswire.ca)
Total Trapper District Land Position Increased to 25,650 Hectares
October 26, 2011 - Vancouver, B.C. Ocean Park Ventures Corp. ("Ocean Park" or the "Company") (TSX-V: OCP) is pleased to announce that it has signed an Option Agreement with Gulfside Minerals Ltd. (TSX-V: GMG) and a private vendor to acquire a 100% interest in the 3347 hectare Golden Fleece and Argonaut properties, which are contiguous with the Trapper property to the southwest and northeast. The addition of these properties increases Ocean Park's total Trapper district land position to over 25,650 hectares, forming a continuous claim package that extends more than 30 kilometres from north to south.
Historic exploration work on the Golden Fleece claims identified extensive gossans that are associated with iron-carbonate alteration similar to that observed at Trapper, making the property prospective for hosting an extension to the Trapper gold-rich polymetallic mineralization system.
Under the terms of the Agreement, a 100% interest in the Golden Fleece and Argonaut properties may be obtained by making a payment of $25,000 and issuing 300,000 shares of the Company over two years. The properties are subject to a 1% NSR, which can be purchased from the Vendors for $500,000.
Maps of the Trapper district properties are available on Ocean Park's web site at www.oceanparkventures.com.
Mr. Chris Taylor, M.Sc. P.Geo, is Vice President Exploration with Ocean Park and is the Qualified Person as defined by National Instrument 43-101, who supervised the preparation of the above information. The information was obtained from public government assessment report records.
For further information please contact Mr. Paul Matysek, M.Sc. P.Geo, acting President and Chairman at or Mr. Chris Taylor, M.Sc. P.Geo, Vice President Exploration at 604-681-0084.
OCEAN PARK VENTURES CORP.
On behalf of the Board
"Paul Matysek"
Paul Matysek, Acting President and Chairman
About Ocean Park Ventures
Ocean Park is a well-funded Canadian mineral exploration company working in three leading jurisdictions, with active exploration including diamond drilling underway on 3 properties. Ocean Park can earn a 70% interest through its joint venture in the Trapper Gold project, northern British Columbia, where historic work has identified a 2000 metre by 500 metre gold-in-soil anomaly returning results as high as 19 g/t gold. The Company can also earn up to a 70% interest through its joint venture in the Chisna Gold project, south-central Alaska, where a 9 kilometre gold-in-bedrock and soils target has been identified returning results as high as 50 g/t gold, the Golden Range. A 75% interest can be earned through its joint venture in the Adelita Copper-Gold-Silver project, Sonora, Mexico, where a 10 square kilometer polymetallic soil anomaly having a porphyry signature includes a copper-gold-silver mineralized, drill-tested skarn.
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.
This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
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