VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 8, 2012) - Parlane Resource Corp. (TSX VENTURE:PPP) ("Parlane" or the "Company") is pleased to provide the following update for its 2012 field program at the Big Bear property on the Nechako Plateau.
Field personnel have collected an additional 602 soil samples, 12 stream sediment and 26 rock samples over 9 areas that returned anomalous results during the 2011 field season (see Parlane news release dated June 25, 2012 www.parlaneresource.com). Results from this phase of sampling have been submitted to an accredited laboratory and the results are pending. An induced polarization (IP) and magnetometer survey are currently being carried out over 14 line kilometres. It is anticipated that this survey will be completed by the second week of August. All of the results from these geochemical and geophysical surveys will be analyzed together and a drill target assessment will be made. The Company holds a BC Mines Act permit that includes 10,000 metres of drilling.
The Big Bear property is located in the Omineca Mining Division, Nechako Plateau in central British Columbia, approximately 100 kilometres south of Vanderhoof, and is comprised of 14,366 hectares. It is located between two mineralized systems: New Gold Inc.'s Blackwater and the Capoose properties. The Big Bear is highly prospective for the discovery of similar epithermal, subvolcanic porphyry and transitional mineralization.
Ian Webster, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this release.
The Company also announces that Allan Fabbro has resigned as a director of the Company. The Board is thankful to Mr. Fabbro for his efforts in furthering the Company's goals and wishes him well in his future endeavours.
ON BEHALF OF THE BOARD
Robert Eadie, President, Chief Executive Officer and Director
Neither the 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.