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TSX-V: DOS                                                                                                                September 24, 2012

 

NEW GOLD SHOWINGS ON DIOS’ WEST AU33 PROPERTY: TRENCHING AND DETAILED SAMPLING ONGOING

 (Montreal, Quebec, Canada- September 24, 2012)   Dios Exploration Inc. (DOS: TSX-V) wishes to inform its shareholders that new gold showings were discovered during summer 2012 on the WEST AU33  property, located in the James Bay area of Quebec and optioned to Osisko Mining Corporation in 2011. DIOS is pleased to release these preliminary 2012 results from the summer outcrop and soil sampling program.   The work revealed at least five new gold showings in a felsic (tonalite-granodiorite) intrusive complex.  Best new results are shown in the table below. Mechanical trenching is ongoing for detailed rock sampling, further results to be released when available.

New showings discovered from outcrops grab samples on WEST AU33 property.

Sample No

Ppm Au (g/t gold)

DESCRIPTION

D512925

17.3

Granodiorite, fine grained, beige, rusty, 2% Pyrite, cut by QZ vein 4 cm

D513054

12.65

Granodiorite, fine grained, beige, rusty, 3% pyrite, magnetite

D512254

11.85

Tonalite fine grained, strongly oxidized, quartz network, disseminated Pyrite mainly in quartz veinlets

D512901

4.72

Granodiorite, medium grained, beige, magnetic, rusty spots

D086612

1.775

Granodiorite with pegmatite, aplite and felsic dykes,  quartz-hematite veinlets with traces pyrite

A summer prospecting program was undertaken by Osisko in 2012 on the WEST AU33 property, targeting a large felsic (tonalite-granodiorite) igneous complex that hosts potential for low-grade disseminated bulk tonnage gold deposits.  The new showings are located within a two by three kilometre area, roughly in the same area as the previously reported 2011 gold showings (see Dec. 22, 2011 press release).

The outcropping auriferous mineralization comprises 1-2% pyrite as disseminations and fracture fillings that are associated with potassic alteration. The gold-bearing outcrops were found up-ice of a glacial dispersal train using historical data and the DIOS database for auriferous till and boulders.

A soil geochemical program was also undertaken in 2012 further up ice of the gold-in-till glacial dispersal train, in an area of poor outcrop.  Ground mechanical stripping and detailed rock sampling of at least eight trenches is ongoing in this area over gold-in-soil anomalies.  Helicopter borne mechanical or ground stripping is also taking place on showing extentions and/or 2011 gold-in-soil anomalies.

Osisko has the option to acquire a 51% undivided interest in the WEST AU33  property by incurring $5,000,000 in exploration expenditures and making cash payments of $700,000 during a five-year period. Osisko has the option to acquire an additional 9% participating interest in exchange for $9,000,000 of additional exploration expenditures during an additional five-year period. And finally, Osisko also has the option to acquire an additional 10% interest by solely funding a feasibility study pertaining to the WEST AU33 property within a time period equal to the lesser of: (i) the remaining time before expiry of the second option period, and (ii) a period of two years. Osisko is Project Manager during the option period.

Osisko follows strict QA-QC protocol measures in keeping with industry standards and regulatory reporting requirements. All assays reported above were obtained by standard 50-g fire assay with AA or gravimetric finish (method Au-AA24) and a multi-element package applied to selected samples (method ME-ICP 41) at the ALS Chemex laboratories in Val-d'Or, Quebec.

These results are preliminary results and further complete results will be released when available. This news release was prepared by M. J Girard, M.Sc. Geo and President of DIOS, the Qualified Person (43-101). 

  Neither the 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.

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