CALGARY, ALBERTA — (Marketwire) — 04/17/12 — BACANORA MINERALS LTD. (TSX VENTURE:BCN) (the “Company” or “Bacanora”) is pleased to report the final results obtained from its second round of drilling at its “Ventana” lithium property located in eastern Sonora, Mexico, which consisted of 1,465 metres in 8 NQ-Core holes. The Company is also pleased to announce the launch of the third round of drilling at its 100% owned “Ventana” and “El Sauz” properties.

Final Second Round Results

Two mineralized lithium bearing sections have been identified, which are separated by a barren ignimbritic tuff that has been utilized as a marker bed. The average thickness and grade from the upper unit has been determined to be 11.38 metres at 2,833 ppm Li and the average thickness and grade of the lower unit is 19.08 metres at 4,069 ppm Li. All of the samples from the second round of drilling were submitted to ALS-Chemex Lab and analyzed for Lithium with a 4-acid digestion method. The results are summarized in Table 1 and the location of the holes is displayed in Figure 1 that accompanies this release.

TABLE 1 – Summary of Mineralized Intercepts in La Ventana Target (Second round of drilling)

HOLE_ID From (m) To (m) (m) Li (ppm) Li2CO3% Note
LV-05 21.64 80.47 58.83 2698 1.43 Overall samples
Upper Zone 21.64 32 10.36 2697 1.44 Minimum 2000 ppm
Upper Zone 36.58 46.63 10.06 3424 1.82 Minimum 2000 ppm
Lower Zone 60.35 80.47 20.12 4520 2.41 Minimum 2000 ppm
LV-06 3.96 67.97 64.01 1394 0.74 Overall samples
Upper Zone 15.85 30.78 14.94 3120 1.66 Minimum 2000 ppm
Lower Zone 46.18 67.97 21.79 3538 1.89 Minimum 2000 ppm
LV-08 67.89 113.69 45.8 1578 0.84 Overall samples
Upper Zone 67.89 74.07 6.17 2676 1.43 Minimum 2000 ppm
Lower Zone 98.45 113.69 15.24 3131 1.67 Minimum 2000 ppm
LV-09 77.42 93.88 16.46 1443 0.77 Minimum 1000 ppm
LV-10 101.5 118.26 16.76 1148 0.61 Minimum 1000 ppm

Third Round Drilling Program

Bacanora’s third lithium drilling campaign contemplates approximately 2,000 metres of drilling in 10 NQ-Core drill holes at the Ventana property (see Figure 1 for a map of third round drilling targets). The objective at Ventana is to further evaluate the continuity of the encountered lithium bearing clays, both laterally and down dip as the deposit has been confirmed to be approximately 3,000 x 300 metres wide, to a depth of 200 metres. The third round drilling campaign has been designed to produce a 400 m spaced grid capable of being used for generating a resource of Lithium Carbonate Equivalent (LCE).

At the El Sauz property this campaign contemplates approximately 500 metres of exploratory drilling in 2 NQ-Core drill holes. The objective at El Sauz is to test the mineralization discovered during previous exploration activities, which revealed a continuous 120+ metre thick volcano-sedimentary section exposed in a semi-mountainous area that covered 1,200 X 400 metres in several outcrops. During this prior program a total of 125 samples were collected, which averaged 1,000 ppm lithium (with samples up to 7,220 ppm) and also contained a potassium average of 0.5% (min 0.26%, max 3.07%).

Along with the drilling, exploration activities (mapping and systematic sampling) continue on other lithium target areas such as Buenavista and San Gabriel, which are owned 100% by Bacanora. Field crews are currently working on road and drill pad construction and access to water supply and the Company expects to start drilling by the fourth week of April. Results of the drilling and the exploration activities will be presented upon completion of this phase of our drilling program.

Paul Conroy, President and CEO, states: “We are very pleased with the advancements made during our second round of drilling at Ventana and look forward to conducting our third round of drilling and exploration on each of our lithium properties, all with a view towards our goal of generating a National Instrument 43-101 compliant Lithium Carbonate Equivalent resource encompassing one or more of these properties.”

Martin Vidal, Professional Geoscientist, is the Qualified Person for this news release and has reviewed and approved its contents.

To view the map associated with this release, please see the following link: http://media3.marketwire.com/docs/417bcn.pdf

Reader Advisory

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities offered will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, the use of the net proceeds of the offering. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

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.

Bacanora Minerals Ltd.
Paul Conroy
President and Chief Executive Officer
(306) 649-0600
(306) 649-0601 (FAX)


Our company BYLSA DRILLING provides drilling services in a variety of environments, ranging from typical exploration sites to extreme topographic conditions, always with the highest quality and safety standards.