Tri-Valley Mineral Unit Retains Avalon Development Corporation to Write CNI 43-101 Reports on Alaska Gold Projects
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BAKERSFIELD, Calif.--(Business Wire)-- Select Resources Corporation, a wholly owned mineral subsidiary of Tri-Valley Corporation (NYSE AMEX:TIV), has retained Avalon Development Corporation of Fairbanks, Alaska, to write Canadian National Instrument 43-101 reports on Shorty Creek and Richardson, Select`s two large gold exploration projects in Alaska. Shorty Creek consists of a few claims less than 40 square miles of State of Alaska lands that encompass a huge cluster of anomalous poly-metallic and precious metals data just south of the Livengood property being drilled by International Tower Hill Mines (ITH). ITH`s website currently posts 12.5 million indicated and inferred ounces of gold. Should the relative size of the geochemical anomaly adjacent to Select`s claims be any indication, Select may have an opportunity for a potential multiple that could rank the Shorty Creek property among North America`s largest gold resources. Richardson consists of approximately 42 square miles of State of Alaska lands claims that encompass several anomalous areas mapped and tested (and intermittently produced) by contractors since Tri-Valley Corporation acquired the property in 1987. Richardson holds several anomalies ready for the drill bit and a drilled out placer deposit ready for production planning. A tremendous amount of work has been done on the Richardson property and it needs to be both compiled in final form and incorporated into planning for further exploration / development work. The Shorty Creek/Livengood gold area is approximately 70 miles north of Fairbanks, Alaska on the paved Elliott highway. The Richardson prospect is approximately 70 miles south of Fairbanks on the paved Alaska Highway. The CNI 43-101 technical reports are standard documents relied upon to fairly represent various aspects of data for both listing on Canadian stock exchanges and project financing. 43-101 reports are widely utilized in the finance and mining industries across numerous countries. Avalon Development Corporation is an independent Fairbanks-based metals consulting firm with many years of experience led by geologist Curtis Freeman who is very familiar with these particular properties and is a 43-101 qualified person. "ITH has done a great job of delineating a tremendous resource at Livengood, and we expect Select can follow suit. While ITH`s recent technical presentations suggest the basic geologic picture appears to change from the northern-most part of the data cluster to the bulk of the southern part, the size and magnitude of the geochemical anomaly on Select`s property is nothing short of remarkable. We hope to duplicate the success ITH has had in using the drill to convert a large mineralized system from an anomaly to what is unquestionably heading towards a high potential minable deposit. At Richardson, Select has a minimum of seven targets, five load targets suitable for drilling, and two non-load targets suitable for production planning. One stockpile and a drilled out placer deposit, are ready for verification sampling and production planning," said James G. Bush, president of Select Resources Corporation. "Select is quickly evolving from a collection of grass roots exploration plays to lower risk testable targets. Tri-Valley Corporation is on the road to establishing a financing vehicle from which significant resources may be directed toward Select`s properties. Simultaneously, Select is pursuing financing independently. Should either or both approaches be successful and early project results be positive, we expect the market place to recognize the increase in share value," said F. Lynn Blystone, chief executive officer of the public parent, Tri-Valley Corporation. Tri-Valley has been in business as a successful operating company since 1963, and has been a full reporting 12 (g) publicly traded Delaware Corporation since 1972. Tri-Valley Corporation stock is publicly traded on the New York Stock Exchange AMEX under the symbol "TIV." Our company website, which includes all SEC filings, is www.tri-valleycorp.com. This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements which includes such words and phrases as exploratory, wildcat, prospect, speculates, unproved, prospective, very large, expect, potential, etc. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company`s quarterly report on Form 10-Q for the quarter ended June 30, 2009, and the annual report on Form 10-K for the year ended December 31, 2008. Tri-Valley Corporation Egan Gost, Director of Public and Investor Relations 1-800-579-9314 information@tri-valleycorp.com www.tri-valleycorp.com Copyright Business Wire 2009
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