 | Canadian Imperial Venture Corp. Commences Drilling Program on Little Bear Lake Gold Property, Manitoba Trading Symbol: TSX Venture Exchange: CQV Canadian Imperial VentureCorp. (TSXV: CQV) ("CIVC" / the "Company") is pleased to announce the commencement of a 1500 m drill program on the Little Bear Lake Gold property ("LBL") in the Maskwa pluton located in southeastern Manitoba. The drill program is being carried out pursuant to a farm-in agreement (see September 26, 2012 news release), under which the Company is earning a 55% working interest in the Little Bear Lake property from Carina Energy, a private mining exploration company based in Toronto, Ontario. The current program will test the Silver Fox and contiguousRush Veins. Historical trenching results for the Silver Fox vein yielded channel sample results of up to 0.90 oz/t (30.9 g/T) gold over 4 ft (1.2 m) with similar results obtained from other trenches over a strike length of 255 ft (77.7 m). The wallrock contained up to 0.2 oz/ton (6.9 g/T). The Silver Fox vein is up to 7 ft wide (2.1 m) at the south end. The narrower parts of the vein yielded grab samples of 7 oz to 10 oz Au/ton (10.5 to 348.5 g Au/T). During 2011prospecting and sampling, 12 grab samples from the Rush Vein averaged 6.2 g Au/T with a range from 0.05 to 41.68 g Au/T. In addition, the Company wishes to report that assaying of previously unsampled core from the 2010-11 Carina drill program on the Treasure Vein continues and results are expected to be released in early 2013. Little Bear Lake The Little Bear Lake claim block in eastern Manitoba, consist of 17 claims, or 2149 hectares. On the Property, numerous gold-silver bearing veins occur in a parallel linear array trending NW-SE. The veins themselves are generally narrow and sometimes high grade. They are comprised of quartz and chlorite, and shearing is commonly evident in the walls. Width of the shear structures ranges from less than 1 metre to about 18 m. Within these "shear zones", white to sugary to glassy quartz veins are commonly thin, but widths to 3 m are reported. Dips of the "shear zones" are mostly vertical to steep north or south. Gold grades appear to be directly correlated with percentage of pyrite, galena, sphalerite or chalcopyrite within the host quartz. Many high grade gold and silver assays have been reported from the property since 1928 when the veins were discovered. Historic grab sample assays range up to 17 oz Au/ton (530 g Au/T); 0.5 to 1 oz Au/ton (15-30 gAu/T) values have often been reported. Historically, there are reported to be an estimated historic resource of 10,000 tons of hand-cobbed "high grade" quartz vein material on the property adjacent to historic exploration pits on the veins. The major veins explored since 1928 have been named Silver Fox, Latwis, Gold Plate, Molson, Treasure, Black Beaver and Fisher. The Treasure vein appears to be the longest, being continuous over a strike length of greater than 2,000m where it has been sampled in 90 small blast pits along its length. The majority of veins have been similarly sampled. Historical records of sampling of pits and shafts by three separate parties for the Silver Fox vein are considered typical for veins on the property, e.g. 1) Birse, (1928): 12 samples over 188 ft length of the vein averaged 0.60 oz gold per ton over 19 inches. 2) Bull, (1928): six samples which averaged 0.46 oz/ton over 31 inch width. 3) C.S. Lord, (1934): assays averaged 0.98 oz/t over 21 inch width, for a length of 215 ft. Subsequent sampling and limited drilling in 1946 confirmed that high grade gold values can be obtained discontinuously over narrow widths along most veins. Past work on the ground was carried out by Norway Lake Iron Mines Ltd., Eco Exploration Company, Bear Lake Gold Mines Ltd., International Obaska Mines, Abermin, Theriault and Carina. Drilling of the Treasure Vein has shown existence of gold in wall-rock to high-grade veins and intersections with grades and widths, which in analogous geological environments (Goldex "GZ" deposit, Val d'Or; Hammond Reef in the Marmion batholith, and mines in the Bourlamaque batholith, Val d'Or) are amenable to open pit mining. CANADIAN IMPERIAL VENTURE CORP. "Gerard Edwards" Gerard Edwards, President and CEO |