RJX.A RJK Explorations Ltd

KIRKLAND LAKE, ON, Nov. 30 /CNW/ -- KIRKLAND LAKE, ON, Nov. 30 /CNW/ - RJK Explorations Ltd., (RJX.A) is pleased to announce that it has entered into an option agreement to acquire 6 mining claim units (Dempster Lake Claims) totaling approximately 1,600 hectares in the Meen‐Dempster Greenstone Belt of the Uchi Subprovince located approximately 21 kilometers southeast of the of the past producing Golen Patricia gold mine.    The Uchi Sup‐Province hosts the former producing Pickle Crow, Central Patricia and Donna Lake Mines in the Pickle Lake gold camp, the Golden Patricia gold mine in the Meen‐Dempster Belt and the currently producing Red Lake and Campbell mines in the Red Lake Belt.    The Dempster Lake property covers approximately 10 kilometers of the 15 kilometer long intensely deformed Dempster Lake Shear Zne (DLSZ) that is similar to the Bear Head Fault Zone and splay shear zone which hosts the Golden Patricia Mine.    The identified target lies within the transpressional dilational bend (20‐25 degrees) of the DLSZ with an interperated width of approximately 220 meters in a mostly overburden and a lake covered zone of sheared ad intense iron carbonate alteration at lower Dempster Lake with massive replacement ferroan dolomite outcrops and apparent visile gold on the lake shore. Major gold deposits are commonly associated with curvatures, flexures, splays, dilational jogs, dilational bends and other structural irregularities along major compressional fault and shear zones.   Mapping by Stott and Wallace, Ontario Geological Survey (Map 2057) has recommended the DLSZ in three publications as a gold target and has noted gold bearing quartz‐toumaline veinlets in this area.    Historical work in the Lower Dempster Lake area was conducted by Noranda in the 1980's and consisted of line cutting, magnetometer and VLF‐EM surveying, limited mapping and humus geochemical sampling. No drill testing was completed on this target.    Field, data collection and interpretative work by Donald Brown Ph.D., P.Geo has identified a gold in humus anomaly some 1,600 metres long by 200‐350 meters wide located on the south side of Lower Dempster Lake. This anomalous corridor is considered to be the down‐ice glacial dispersion expression of potential drill target areas within the DLSZ. Additionally, five of seven rock samples collected south of the target area returned anomalous values of 51,105, 208, 314 and 338 ppb gold. The regional threshold for litho geochemical gold is 10 ppb.   RJK plans to drill test this highly prospective area in January 2011.   Terms of the option are cash and share payments totaling $82,500 ($15,000 on signing), 1,000,000 shares (200,000 on signing) and work commitments of $1.7m over four years ($300,000 first year). The property is subject to a 2% Net Smelter Return Royalty of which a buy back of 1% can be completed for $2.0m. If the property is the subject of a pre‐feasibility or feasibility study an additional 200,000 shares is payable to the vendor. Donald Brown is the vendor of the Dempster Lake Property and is a qualified person under 43‐101 requirements. Mr. Brown has provided the field, research and interpretative data and has reviewed the contents of this news release.   Forward Looking Statements: This news release contains or refers to forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that RJK believes, expects or anticipates will or may occur in the future are forward-looking information. Such forward-looking information includes statements contained in this news release regarding discussions in respect of a potential acquisition and funding arrangement and RJK's expectations regarding same and the trading of its shares on the TSX Venture Exchange. This forward-looking information reflects the current expectations or beliefs of RJK based on information currently available to it. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of RJK to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, RJK. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: the failure of RJK to enter into an agreement in respect of such arrangement; delays in obtaining or failure to obtain any required regulatory and/or shareholder approval; and other factors. Any forward-looking information speaks only as of the date on which it is made. Although RJK believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. 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.    p/p table border="0" valign="top"trtd colspan="2"Glenn Kasner, President/td tdVancouver Office:/td/tr trtd colspan="2"Telephone: (705) 567-5351/td tdJames (604) 565-5967/td/tr trtd colspan="2"Mobile: (705) 568-7567/td tda href="mailto:james@rjkexplorations.com"james@rjkexplorations.com/a/td/tr trtd colspan="2"a href="mailto:kasner1@ntl.aibn.com"kasner1@ntl.aibn.com/a/td/tr/table

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