March 14, 2012 - Rockhaven Resources Ltd.
(TSX-V:RK) (“Rockhaven”) is pleased to announce that it has received 1,266,667 common shares of Silver Predator Corp. as the second payment under its option agreement relating to the Plata property (see Rockhaven news release of February 4, 2010). Rockhaven now owns 3,766,667 shares of Silver Predator, approximately 9.1% of its issued and outstanding share capital.
Rockhaven has also recently made a cash payment to an arm’s length syndicate to complete the purchase of a 100% interest in the Mount Hinton property. The $166,666 cash payment is the last of three staged payments totaling $500,000. Mill City Gold Corp., which held an option on the property from Rockhaven, has terminated its option agreement. Thus, the Mount Hinton property is now wholly-owned by Rockhaven, without any underlying royalty interests or outside options.
In conjunction with the termination of this option, Rockhaven has granted Mill City an option to purchase up to one-half of Rockhaven’s current Mill City shareholding at $0.05 per share over a two year period. Rockhaven currently owns 16,671,332 Mill City shares.
The Mount Hinton property consists of 400 claims and is situated within the eastern part of the Keno Hill mining camp, a district that hosts more than 35 individual mines and is historically Canada’s second largest primary silver producer. Alexco Resources Corp. currently owns most of the mineral claims covering the historic mines. The Mount Hinton property is located 2 km by road from Alexco’s producing Bellekeno Mine and 4 km from its new mill. Although silver mineralization is found in veins on the Mount Hinton property, gold is the most significant component in many of the 74 bedrock showings and float occurrences that have been discovered on the property. About Rockhaven Resources Ltd.
Rockhaven has interest in a number of projects in Yukon and is focused on growth through exploration of its wholly-owned Klaza gold-silver property located in the Dawson Gold Belt of southwestern Yukon. This road accessible project hosts high-grade and bulk-tonnage gold-silver mineralization in four known zones, all of which remain open to expansion. Trench assay results, together with geochemical and geophysical data, indicate additional potential for new discoveries. The 60 sq. km Klaza project is located in an under-explored part of the Dawson Gold Belt, south of Kaminak Gold Corporation’s Coffee project.
For additional information on Rockhaven or its various exploration projects please visit the website at www.rockhavenresources.com
Matthew Turner, CEO and DirectorRockhaven Resources Ltd.
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