Results for KR-10-8, a 60 degree undercut of KR-10-7, tested the depth potential of the Whiskey Jack
Zone, returned up to 23.85 metres grading 0.99 grams per tonne gold (g/t Au), confirming the results
from the overlying hole. Diamond drill hole KR-10-11, drilled on the newly trenched northern extension
of the Kramer Zone, intersected broad intervals of anomalous gold values with the best results
including 0.50 metres of 1.17 g/t gold (15.70 – 16.20 metres) and 0.35 metres of 2.33 g/t gold. (44.15 –
44.50 metres)
KR-10-14, one of two holes to test the Quartzite zone, returned 11.70 metres (starting at 27.75 metres
downhole) that averaged 1.04 g/t gold and suggests that locally the Quartzite Zone, which sits
unconformably on the mineralized Precambrian gneiss, could also host significant, near surface
mineralization. The Quartzite Zone lies adjacent to the Kramer Zone, and about 100 metres northeast
of the Whiskey Jack Zone.
The mineralization intersected in KR-10-7, 8 and 11, is hosted primarily in altered Precambrian gneiss
and in fine grained granitic bodies that appear to intrude the gneissic rocks. Gold is associated with
fine grained and stringer pyrite mineralization commonly associated with quartz stockwork zones.
Locally, quartz veins associated with the fine grained bodies carry extremely high gold grades, up to
45.16 g/t Au over 1 metre.
The Whiskey Jack zone is located about 200 metres southwest of the original Kramer discovery made
in 2009. The recently completed drill program verifies that potentially economic grades of near surface
bulk tonnage mineralization does occur on the Kramer property and suggests that the Kramer and
adjacent Viking gold property (Northern Abitibi Minerals Corp.) represent a new and potentially
important gold district in western Newfoundland. Northern Abitibi’s Thor Zone discovery lies less than
500 metres southwest of the Whiskey Jack zone and a NI 43-101 resource estimate at Thor is
expected in the first quarter of 2011. Northern Abitibi also announced in June, 2010, the discovery of a
new trend called the Asgard which lies less than 200 metres west of Spruce Ridge’s newly discovered
Whiskey Jack zone.
The work completed to date has outlined an open ended zone of intrusion hosted gold mineralization
extending at least 400 metres northeast from the western property boundary. A number of trenches
exposing intrusion style mineralization remain unmapped and unsampled from the fall 2010 program,
and the 2011 exploration program at the Kramer property will include the completion of all trench
mapping and sampling prior to planning the next stage of drilling. Spruce Ridge also plans to
commence field work on its 100% owned licence north of and directly along strike from Northern
Abitibi’s high grade Thor trend. The licence contains numerous untested soil geochemical and
magnetic anomalies that will be prospected, mapped and trenched in 2011.
About Spruce Ridge Resources
Spruce Ridge Resources is focused on exploring the Kramer gold property in western Newfoundland.
It also has three gold properties in the Beardmore-Geraldton greenstone belt of northwestern Ontario
and two uranium properties in Newfoundland. Spruce Ridge has made a substantial investment in RX
Exploration inc., which is developing the Drumlummon gold mine in Montana. Spruce Ridge owns
7,500,000 shares of RX Exploration (RXE) and 7,500,000 warrants with an exercise price of
.60 per
share with an expiry date of June 30, 2011.