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Jan 30, 2007 - Drilling Continues to Expand Higher Grade Gold Zones
 
Ottawa, ON - San Anton Resource Corporation (SNN:TSX) is pleased to announce the latest results from drilling of the Cerro del Gallo gold/silver (+copper) deposit on the San Anton property in Guanajuato State, Mexico. Significant new intersections from surface at a 0.30g/t AuEq cut-off include 294.1m grading 1.31g/t AuEq* (0.87g/t Au, 13g/t Ag, 0.10% Cu) in hole SA-205 and 318.5m grading 1.09 g/t AuEq (0.74g/t Au, 11g/t Ag, 0.07% Cu) in hole SA-204, both of which are open at depth, and 248.4m grading 1.06 g/t AuEq (0.71g/t Au, 12g/t Ag, 0.06% Cu) in hole SA-207. All holes were drilled into a higher grade gold zone which was initially defined with a wide spaced 100×100m drill pattern. It is now being drilled on a 50×50m spacing which is indicating an increase in both grade and width, particularly on the southern side of Cerro del Gallo.

Gregory Bowes, President of San Anton commented that “Cerro del Gallo is shaping up as a major new gold/silver discovery that has gone from nothing to over 11 million ounces of gold equivalent in just 12 months of drilling to December 2005. Drilling is now far more advanced and many of our best grades and intersections have come in the past year. The deposit is still open laterally and at depth, the gold rich and gold skarn zones are expanding, copper grades are increasing to the 0.30% range to the east, and there are many regional targets yet to drill on the broader San Anton property.”

Gold Skarn Results

The gold skarn is a separate and distinct zone of mineralization that lies on the southern flank of Cerro del Gallo and usually occurs within a broader envelope of gold mineralization that is up to 200m in width and generally higher grade than the average for the deposit. Significant gold skarn intersections included:

  • 13.7m grading 2.71g/t AuEq (1.99g/t Au, 7g/t Ag, 0.26% Cu) from 161.54m and 21.3m grading 3.75g/t AuEq (2.70g/t Au, 4g/t Ag, 0.38% Cu) from 234.70m (both at a 0.8g/t Au cut-off) contained within a larger mineralized zone of 176.8m grading 1.61g/t AuEq (1.01g/t Au, 5g/t Ag, 0.23% Cu) from 112.78m (0.3g/t AuEq cut-off) in hole SA-188.

  • 35.1m grading 2.44g/t AuEq (2.14g/t Au, 5g/t Ag, 0.09% Cu) from 144.8m (0.3g/t AuEq cut-off) in hole SA-211.

  • 12.19m grading 2.89g/t AuEq (2.29g/t Au, 2g/t Ag, 0.25% Cu) from 117.35m (0.8g/t Au cut-off) within a broader mineralized envelope of 70.10m grading 1.21g/t AuEq (0.83g/t Au, 6g/t Ag, 0.12% Cu) from 83.82m (0.3g/t AuEq cut-off) in hole SA-214.

  • 7.62m grading 1.48g/t AuEq (1.26g/t Au, 6 g/t Ag, 0.05% Cu) from 100.58m and 6.10m grading 3.89g/t AuEq (2.70g/t Au, 4g/t Ag, 0.49% Cu) from 111.25m (both at a 0.8g/t Au cut-off) within a larger mineralized zone of 99.06m grading 1.00g/t AuEq (0.70g/t Au, 3g/t Ag, 0.11% Cu) from 85.34m (0.3g/t AuEq cut-off) in hole SA-215.

To view the complete table of Cerro del Gallo assay results for all holes drilled to date, please go to www.sanantonresourcecorp.com/explorationproperties.

New Resource Estimate

The Cerro del Gallo deposit hosts measured and indicated resources of 225 million tonnes grading 0.81g/t AuEq (5.9Mozs AuEq) and inferred resources of 229 million tonnes grading 0.71g/t AuEq (5.2Mozs AuEq), both based on a 0.30g/t AuEq cut-off grade. The resource estimate is based on 24,635 metres of drilling in 110 drill holes to December 16, 2005. Over 62,000m of infill and expansion drilling has now been completed on the deposit and a new resource estimate will be prepared in the first quarter of 2007.

SGS Lakefield Oretest (Perth, Australia) has completed comprehensive metallurgical test work on approximately 1500 kgs of HQ core from the Cerro del Gallo Deposit and a report on the results is expected in four to six weeks.

*Au equivalent (AuEq) has been calculated as Au + (Ag/60) + (Cu X 2.3). Metallurgical recoveries and smelter returns have been assumed at 100%.

Regional Exploration

The San Anton property was consolidated under one owner in 2004 and only in the period since has it been subjected to modern exploration. This process very quickly identified over 20 high quality, intrusive, skarn and epithermal vein-breccia exploration targets. The first of these to be drilled was Cerro del Gallo. Work has now also commenced on other regional targets. A four hole drill program has been completed on the La Empalizada target on the 3+ km Carmen-Providencia epithermal vein system where two holes drilled by a previous owner returned 23.8gAu/t and 1507gAg/t over 9.25m and 8.8gAu/t and 643gAg/t over 10.9m. At the Espiritu Santos prospect, located 2 km to the south along the same vein system in an area characterized by widespread, small scale local workings and high grade values from rock chip sampling, a program of soil geochemistry was completed in December 2006 and the drilling of four holes is underway. Assay results from both the La Empalizada and Espiritu Santos drill programs are expected in February.

Go to PDF version of the press release for complete tables of the "Cerro del Gallo Deposit - Summary of Drill Intersections at 0.30g/t AuEq Cut-off and >10m, >0.50g/t AuEq", the "Gold Skarn Zone - Significant Skarn Intersections at 0.80g/t Au Cut-off, >5m" and the "Gold Skarn Zone - Summary of Drill Intersections at 0.30g/t AuEq Cut-off and >10m, >0.50g/t AuEq"

Drilling was supervised by Graeme Rabone, an independent consultant, who is a Qualified Person under National Instrument 43-101 and has reviewed and approved the technical information in this release. HQ diamond core is assayed in 1.0 meter intervals while RC samples are assayed in 1.52 metre intervals, at SGS in Toronto, Canada. Gold is routinely assayed using a 30 gram sample, fire assay fusion and AAS finish with all gold values greater than 1.0g/t routinely re-assayed by SGS using the gravimetric method as a check prior to batch reporting. Silver and copper values are determined on a 2 gram sample, aqua regia-hydrofluoric acid digest and AAS finish with high values checked using a different method. Standard reference material is routinely inserted into the sample stream from diamond core and RC drilling at a rate of 1 in 40 samples and sample blanks every 1 in 100 samples. Field duplicates are inserted every 1 in 50 samples. Analytical QA/QC work is done at a later time at another external laboratory on approximately 5% of selected samples containing above background metal values.

Click here to view PDF version.

For further information please contact:

San Anton Resource Corporation.

Gregory Bowes, President & CEO / Tel: (613) 729-9006

Kevin Keough, Vice President Corporate Development / Tel: (613) 729-9006

 

WARNING: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of San Anton are exploration risks detailed herein and from time to time in the filings made by San Anton with securities regulators.