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Enter Symbol
or Name
USA
CA



Blue River Resources Ltd
Symbol BXR
Shares Issued 30,182,303
Close 2013-02-26 C$ 0.12
Market Cap C$ 3,621,876
Recent Sedar Documents

ORIGINAL: Blue River acquires option for Mazama copper deposit

2013-02-27 16:35 ET - News Release

Received by email:

File: News Release Mazama Copper (RBS Feb 26).docx

 BLUE RIVER RESOURCES LTD. ACQUIRES MAZAMA COPPER DEPOSIT IN WASHINGTON STATE 



Vancouver, BC - February 27 2013: Blue River Resources Ltd. ( TSX.V: BXR ) ("Blue River" or "the Company") announces t
--->hat it has acquired an option to earn a 100% interest in the Mazama Copper deposit, located in Okanogan County, Washin
--->gton, USA. 

The Mazama Copper deposit has been explored for porphyry copper mineralization since 1963. Inspiration Development acq
--->uired the property in 1970 and conducted IP and soil surveys and drilled 15 diamond drill holes.

In 1973 Quintana Minerals Corp. began the most extensive evaluation of the Mazama deposit to date, drilling 47 percuss
--->ion holes and 5 diamond drill holes. Quintana calculated an historical resource of 149 million tons grading 0.36% copp
--->er and 0.01% molybdenum. 

A qualified person has not done sufficient work to classify the historical estimate as current mineral resources.  Blu
--->e River is not treating the historical estimate as current mineral resources.

Griffin Jones, president of Blue River Resources, states, "We are very excited about the acquisition of a near-surface
---> copper deposit in nearby Washington State. The Mazama deposit positions the Company with a development- stage asset t
--->hat is relatively close to Vancouver BC. The Mazama Project is located approximately 43 kilometres (27 miles) south of
---> Osoyoos BC".

Under the terms of the agreement, Blue River has agreed to pay to the vendor, upon approval by the TSX Venture Exchang
--->e, $85,000 in year one and $50,000 in each of year two and three for a total of $185,000. The Company has also agreed 
--->to pay 500,000 shares every 3 months to a maximum total of 5,000,000 shares.  Blue River has also agreed to grant the 
--->vendor a 3% net smelter royalty, of which 2% can be purchased by Blue River for $3.0 million. There is a minimum explo
--->ration and development commitment of $125,000 in year one, $150,000 in year 2 and $175,000 in year 3.The vendor is at 
--->arm's length to the Company.  The closing of the acquisition is subject to certain conditions, including approval from
---> the TSX Venture Exchange. 

Highland North Project

The Company's Phase I diamond drill program on the Highland North Project, conducted in September 2012, totalled 1,182
--->,56 metres of NQ drillcore over 5 holes (from 5 drill sites) and resulted in a total of 479 samples collected and subm
--->itted for assays. 
Diamond drill hole BXR-12-2 intersected 39.65 meters (130 feet) grading 0.1% copper, from 30.85 meters (101.2 feet) to
---> 70.05 meters (229.8 feet). Drill hole BXR-12-2 was the only hole to have reportable mineralization. No further explor
--->ation is planned for the Highland North Project.

Castle Copper Project

Blue River Resources Ltd. also holds a 100% interest in the 18,000 acre Castle Copper Project, located 25 km north of 
--->Copper Mountain Mining. The Castle project is directly north of Sego
Resources' Miner Mountain property and directly south of Westar's Axe Copper Project, currently under joint venture wi
--->th Xstrata Copper. The Company drilled 3 short reconnaissance diamond drill holes in September 2012 totaling 123 metre
--->s (407 feet) and no significant mineralization was encountered. The Company's current exploration plans for the Castle
---> Copper project include an extensive ground IP and mag survey over the 7 km of the Nicola fault that trends through th
--->e Castle property. 

The technical information contained in this news release was reviewed and approved by Paul D. Gray, P. Geo, Company Di
--->rector, and a qualified person as defined under National Instrument 43-101.


Neither 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.
  ON BEHALF OF THE BOARD BLUE RIVER RESOURCES LTD.  /s/ Griffin Jones 
Griffin Jones President, Director  For further information contact: Griffin Jones
Tel: (604) 682-7339 www.Blueriv.com 
  
 
 



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