Mindesta Reports on Somaliland Exploration Results

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Mindesta Reports on Somaliland Exploration Results
Marketwire - Canada
OTTAWA, CANADA--(Marketwire - Nov. 27, 2012) - Mindesta Inc. ("Mindesta" or the "Company") (OTCBB:MDST) announces that it has received assay results from its first stage stream sediment and rock sampling program on the Arapsyo, Qabri Bahar and Abdul Qadir exploration permits in the Republic of Somaliland.

Arapsyio and Qabri Bahar Permits

Over the September, 2011 to April, 2012 period, 2,500 km2 of the Arapsyio and Qabri Bahar permits were sampled at a density of one sample every 1-2 km2. A total of 1,659 stream sediment and 58 rock samples were submitted to the assay laboratory. The following anomalies were identified:

1. A large, well-structured and consistent platinum/palladium anomaly associated with an ultra-mafic intrusive, as well as three smaller anomalies in the same area; 2. Numerous columbite (Ta-Nb oxide) occurrences and stream sediment anomalies, including several artisanal workings; 3. A large, well defined Ni/Co/Cu/Ti/V/Cr anomaly associated with a series of gabbroic complexes. One rock sample assayed 3.9%Cu with background Ni.Co/Ti values and another 6%Cr, 0.02%Co, 0.1%Ni, 0.4%Ti, and 0.05%V; 4. A large tungsten anomaly associated with a granitic intrusive; 5. Molybdenum/bismuth and nearby copper occurrences associated with a large pegmatite zone (values up to 0.80% Mo and 0.49% Bi); 6. Gold and silver anomalies were generally weaker and poorly structured although one returned rock samples that assayed 79 and 17 g/t silver in association with galena.
Abdul Qadir Permit

From March to July, 2012, approximately 1,400 km2 were sampled and a total of 1,045 stream sediment and 98 rock samples were submitted to the assay laboratory. The following anomalies were identified:

1. 16 contiguous gold anomalies in stream sediments, each averaging approximately 5 x 15 km2 in size; 2. Four copper anomalies, largely associated with basalts; 3. Three zinc anomalies associated with a syenite body and related to Au/Ag/Cu anomalies; 4. A 70 km2 syenite body with a series of Mo prospects over a six km strike length with a nearby interesting Zn/As/Au/Ta/Cd signature in stream sediments; 5. Northern areas with epithermal vein potential were not sampled due to time/money/local issues.
Next Steps

Encouraging regional anomalies have been identified, particularly for gold, and must be narrowed down by infill stream sediment sampling and prospecting followed by soil sampling and/or geophysics. The Cu/Mo/Bi occurrences are already at a stage where soil sampling and ground geophysics could be carried out. A significant number of secondary anomalies will have to be ground checked on a case by case basis.

Gregory Bowes, CEO of Mindesta stated that: "the Company has achieved first mover status in an area of the world which has attractive geology and an underappreciated political situation. While the first stage exploration program was encouraging, the Company is now faced with the challenge of meeting its initial commitment and financing a second stage program in a very difficult market for junior explorers. Options are currently being evaluated."