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Adventure Gold Identifies New Significant Gold-Bearing Zone at Granada Extension Property

Adventure Gold Inc. (TSX VENTURE:AGE) has announced the results of prospecting work and mapping carried out last fall on its wholly-owned Granada Extension property which is located along the Cadillac - Larder Lake Fault in the southern part of the Rouyn-Noranda mining camp, Quebec.

Recent work led to the discovery of a new significant gold-bearing zone at the contact between the Temiscaming and Pontiac type sediments. Grab samples collected within the new gold zone ranged between 0.3 and 1.0 g/t gold. The gold zone is associated with a porphyry dyke and is open laterally towards the Gold Bullion Development Corporation (GBB: TSX-V) ("GBB") Granada property, which encompasses our Property on its eastern border.

The gold-bearing zone is characterized by an envelope with values grading higher than 0.3 g/t gold. The gold-bearing zone was modelled from seven samples exceeding this threshold from a batch of 57 analyzed samples. It is noteworthy that the recent prospecting work did not allow a systematic sampling of the outcropping rocks. Only the central part of the easternmost block of the Granada Extension Property is outcropping, thus limiting the sampling.

The Company has also planned a 2500-meter drilling program designed to test the new gold discoveries on the Granada Extension (see also press release dated November 10, 2010). The drilling program is scheduled to start after the completion of the drilling program at Pascalis-Colombiere.

Drilling performed by Gold Bullion on AGE Property

During the course of the prospecting work being performed by the Company's geologists, recent drilling activity footprints were noted on the field near the Property boundary with GBB. The Company then contracted land surveyors to delineate the location of the Property boundary and survey drill hole collars in its vicinity. Based on the surveying results, AGE informed the management of GBB that as part of GBB's extensive drill campaign, a small portion of the drilling had occurred on AGE's side of the boundary. Specifically, hole GB-10-85 was drilled entirely on AGE Property, and holes GB-10-78, GB-10-83 and GB-10-98 were collared north of the Property boundary but finished within it. Drilling performed within the AGE Property by GBB totalled approximately 900 meters. After verification, the management of GBB and its technical team provided AGE with all the drill cores from these holes. AGE in turn will disclose to GBB all the information gathered from the drilling including the assays results when available. The AGE technical team is currently logging the cores from the four holes and sending them for assaying.

A strict QA/QC program was applied to all samples; which includes mineralized standards and blank samples for each batch of samples. The gold analysis was carried out by ACTLABS - Techni-Lab S.G.B. Abitibi Inc., Quebec. Samples were fire-assayed with an atomic absorption finish. Repeats were carried out by fire-assay followed by gravimetric testing on each sample containing 3.0 g/t gold or more. Additional metallic sieve analysis revealed a wide variation in gold content. Jules Riopel P.Geo. Vice-President Exploration and Acquisitions, who acts as the Company's "Qualified Person" as defined by NI 43-101, has reviewed this press release and supervised the field program.

Source: Adventure Gold Inc.

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