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Gold/Mining/Energy : RVRLF Copper-Gold exploration Reservoir Minerals

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From: Savant9/5/2012 12:19:42 AM
   of 3
 
Reservoir Minerals Drills 160 Metres Grading 10.16% Copper Equivalent at Timok
Project

VANCOUVER, BRITISH COLUMBIA, Sep 04, 2012 (MARKETWIRE via COMTEX) -- Reservoir
Minerals Inc. ("RMC" or the "Company") (CA:RMC)(pinksheets:RVRLF)(berlin:9RE) is
pleased to report that diamond drilling on the Company's Timok Project in eastern
Serbia, with Freeport-McMoRan Exploration Corporation ("Freeport"), has
intercepted high grade copper and gold mineralization in hole FMTC 1213,
including 160 metres grading an average of 10.16% copper equivalent
("CuEq";average 6.92% copper and 5.40 grams per tonne ("g/t") gold) from 461 to
621 metres.

Dr. Simon Ingram, President and CEO of Reservoir Minerals Inc. commented: "We
believe that the Timok Project is entering a very exciting stage, and that the
results to date from wide-spaced drill holes provide confirmation of the
project's potential as a significant copper-gold epithermal and porphyry system."

Hole FMTC 1213 was drilled vertically to target blind porphyry and epithermal
copper-gold mineralization at the Cukaru Peki target beneath the
post-mineralization Miocene cover sediments. Targeting was based on geophysical
data and geological interpretation. FMTC 1213 is located approximately 200 metres
southeast of FMTC 1210 that intercepted 266 metres grading an average of 1.23%
CuEq (average 1.07% copper and 0.28 g/t gold; see Company News Release dated July
16, 2012). Analyses for copper and gold have been received for the interval 452
to 796.1 metres. Summary results are presented in the table below and as a
graphical strip-log on the Company website Click for Detail. The hole was completed at a depth of 796.1 metres.

-----------------------------------------------------------------------
--
AverageAverageAverage
Drill holeFromToIntervalCopper(i)Gold(ii)CuEq(iii)
ID(m)(m)(m)(%)(g/t)(%)
-------------------------------------------------------------------------
FMTC 1213461.0621.0160.06.925.4010.16
-------------------------------------------------------------------------
including507.0577.070.011.567.0315.78
-------------------------------------------------------------------------
including507.0530.023.016.728.3921.76
-------------------------------------------------------------------------
621.0633.012.02.321.903.46
-------------------------------------------------------------------------
Table 1: Significant intercepts in drill hole FMTC 1213
(i)Analysis by ICP-AES using 0.5 g aliquot for samples containing less
than 1% copper, by AAS for samples containing 1 - 11% copper, and by
ICP-AES using 0.1 g aliquot for samples containing greater than 11%
copper.
(ii)Analysis by fire assay with gravimetric finish for samples containing
greater than 3 g/t gold, and by fire assay with AAS finish for
samples containing less than 3 g/t gold.
(iii) The copper equivalent (CuEq%) is calculated from the formula (Copper%
+ 0.6 x g/t of gold).

The Timok Project:

The Timok Project comprises the Jasikovo-Durlan Potok, Brestovac-Metovnica and
Leskovo Exploration Permits that are held by Rakita d.o.o., a 100%-owned Serbian
subsidiary of RMC in which Freeport has earned a 55% ownership interest. The
Exploration Permits cover an area of 245 square kilometres in the highly
prospective Timok Magmatic Complex, eastern Serbia, which includes the
world-class Bor-Majdanpek mining and smelting complex with reported historical
production of 6 million tonnes of copper and 300 tonnes of gold (9.65 million
ounces gold) (BRGM publication BRGM/RC-51448-FR, 2002).

Drill hole FMTC 1213

The FMTC 1213 drill hole, within the Brestovac-Metovnica Permit area, intersected
the base of the Miocene sedimentary cover at a depth of 245 metres, then
penetrated Upper Cretaceous sedimentary and volcaniclastic rocks before
intersecting the target andesite and volcaniclastic unit at 432 metres. From
461.7 to 633.0 metres, moderate to intense mineralization of covellite, locally
bornite, and pyrite occurring as disseminations, breccia matrix fill, veinlets in
strongly altered andesites. The intervals with the highest copper grades consist
of over 90 percent sulphide minerals. The interval from 633.0 metres to the end
of the hole consists of brecciated andesite with a lower intensity of sulphide
mineralization, and degree of alteration decreasing with depth.

The interval 461.0 to 621.0 metres comprises 160.0 metres (grading an average of
10.16% copper equivalent, average 6.92% copper and 5.40 g/t gold) includes
results ranging from 0.13% to 36.51% copper. The longest interval with less than
1% copper is 11 metres (495.0 - 506.0 metres averaging 0.36% copper and 0.62 g/t
gold).

FMTC 1213 was drilled through the reported intercepts using HQ (63.5 millimetre
core) equipment from 275.5 to 614.4 metres and NQ (47.6 millimetre core)
equipment from 614.4 to 798.1 metres. Core recovery is recorded as 100% except in
some high-grade sections of brecciated and fractured massive sulphide, where
recovery decreased to 49-87% (average 69%) from 507.0 to 513.0 metres and 49-82%
(average 59%) from to 520.0 - 529.0 metres.

At this early stage of exploration for a deep high-sulphidation epithermal and
porphyry copper mineralized system typical of the Timok magmatic complex, it is
not possible to determine the orientation of the mineralized zones, or to
estimate their true thickness.

Note on Analyses of Samples

Copper was routinely analyzed by inductively coupled plasma - atomic emission
spectroscopy (ICP-AES) using 0.5 gram aliquots. Due to the exceptionally high
grade of copper in some samples, repeat analyses were undertaken using atomic
absorption spectroscopy (AAS) for samples containing 1 - 11% copper, and ICP-AES
with longer sample digestion times and smaller aliquot of 0.1 gram for samples
containing greater than 11% copper. The copper values in Table 1 of this news
release are from the repeat analytical procedures as available, and otherwise by
the routine procedure for the samples yielding less than 1% copper.

Gold was analyzed by fire assay (30 gram samples) with an AAS finish, and with a
gravimetric finish for samples containing greater than 3 g/t gold. The results
for gold reported in this news release are from fire assays with a gravimetric
finish as available, and otherwise by fire assay with AAS finish for the samples
yielding less than 3 g/t gold.

Status of Drilling

The status of drilling in the Miocene Basin area of the Brestovac - Metovnica
Exploration Permit is shown in Table 2. The drill hole collar locations are shown
on the map on the Company website Click for Detail
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