February 7, 2013 – Vancouver, B.C. Ocean Park Ventures Corp. (“Ocean Park” or the “Company”) (TSX-V: OCP) announces that it has withdrawn from its option agreement with Minaurum Gold Corp. (TSX-V: MGG) where it was earning an interest in the Adelita copper – gold – silver project in Sonoroa, Mexico. After a thorough review of the available data and drill results, the Company has opted not to make additional payments as required under the option agreement as the project does not meet its geological criteria.
Mezquital Porphyry Drilling
Ocean Park completed a series of six diamond drill holes totalling approximately 2000 metres across 2.5 kilometres of strike along the main soil geochemistry trend at the Mezquital porphyry target. Drilling tested the upper 200 – 300 metres from surface underlying all of the strongest geochemical anomalies, in addition to targeting various levels of chargeability and resistivity responses from its 2011 Induced Polarization geophysical survey. None of this drilling intercepted significant copper mineralization.
Final Drill Results – Cerro Grande Skarn
Three shallow test holes drilled 35 metres to the north of the Company’s previous drilling intersected two parallel zones of copper – gold – silver mineralized skarn. Results are shown on the table below.
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|Drill Hole |Interval|Interval|Interval| |Copper|Gold|Silver|Comment|
| |From (m)|To (m) |Length | |% |g/t |g/t | |
| | | |(m) | | | | | |
|——————————————————————-|
|CGDD-12-013|35.1 |56.7 |21.6 | |0.50 |0.20|15.0 |East |
| | | | | | | | |Zone |
|——————————————————————-|
|CGDD-12-014|36.1 |43.0 |6.9 | |0.18 |0.03|2.9 |Hanging|
| | | | | | | | |Wall |
|——————————————————————-|
|CGDD-12-015|1.9 |63.9 |62.0 | |0.34 |0.19|14.8 |West |
| | | | | | | | |Zone |
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Table 1: Highlighted drill results of Cerro Grande skarn drilling. All widths are drill indicated and no cutoff criteria have been applied.
The Company also announces that it has terminated its option agreements involving the Metla, Golden Fleece and Argonaut properties in northern British Columbia.
About Ocean Park Ventures
Ocean Park is a Canadian mineral exploration company working in three leading jurisdictions. Ocean Park can earn a 70% interest through its joint venture in the Trapper Gold project, northern British Columbia, where Ocean Park has identified a gold-copper porphyry complex with a surface signature of over 15 square kilometres and visible gold in drill core. The Company has also recently announced joint ventures on the Jesse Creek porphyry copper project adjacent to the historic Craigmont mine in southern British Columbia, where it has the option to earn a 50% interest, and the Rous Lake/Toothpick properties in the Hemlo district of Ontario, where it has the option to earn up to a 75% interest.
Drill core assay results are evaluated through a Quality Assurance and Quality Control (QAQC) procedure that includes the use of standards with known precious and base metal values, duplicated core intervals and blank samples in order to determine accuracy. Assaying was carried out by ALS Minerals of Vancouver, British Columbia.
Mr. Chris Taylor, M.Sc. P.Geo, is Vice President Exploration with Ocean Park and is the Qualified Person as defined by National Instrument 43-101, who supervised the preparation of the above information.
For further information please contact Mr. Paul Matysek, M.Sc. P.Geo, Acting President and Chairman, Mr. Chris Taylor, M.Sc. P.Geo, Vice President Exploration or Mr. Robert Orr, Investor Relations at 604-681-0084.
OCEAN PARK VENTURES CORP.
On behalf of the Board
“Paul Matysek”
Paul Matysek, Acting President and Chairman
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.
This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
