Silver Pursuit Resources Ltd.: Historic Mine Dumps at La Quintera Project, Mexico

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Oct. 21, 2011) - Silver Pursuit Resources Ltd. (TSX VENTURE: SPF) (the "Company") is pleased to report on results of recent sampling of historic mine dumps at the La Quintera property in Mexico.

The LA QUINTERA property is located 8 km west of Alamos, Sonora, Mexico and covers an area of 4672.5 hectares. Within the claim group are several significant past producing silver mines, the largest of which are the Quintera and Promintorio mine areas where combined production has been estimated at approximately 40 million ounces of silver based on historical reports.

Surface sampling was recently conducted of the historic mine waste dumps and mill tailings deposits. A preliminary tonnage estimate indicates between 400,000 and 600,000 tons of material. A total of 83 samples were collected, including 36 from the La Quintera waste dump and 38 from the Promontorio waste dump, and 9 samples of tailings. Each of the waste dumps samples were collected over a length of 8 meters. The table below summarizes the analytical results for precious metals.

Area                 No. Samples   Silver g/T   Gold g/T
La Quintera - waste          36        325.5       0.22
La Quintera - tailings        4         97.7       0.30
Promontorio - waste          38        171.9       0.33
Promontorio - tailings        5        100.4       0.10

Abbreviations: g/T = grams per tonne

The company considers the results highly significant but also cautions that they are preliminary in nature and not conclusive evidence of the likelihood of the occurrence of an economic mineral deposit.

The samples were analyzed at ALS Chemex in North Vancouver by ICP-MS/AES geochemical techniques using a four-acid digestion, with high grade samples being re-analyzed by ICP AES or AAS procedures suitable for ores grade materials. QA/QC was maintained by monitoring the results for blank and standard samples which were submitted at a frequency of 10%.

The results confirm significant potential for economic silver mineralization within waste deposits at the Quintera and Promontorio historic mines.

Dr. Matt Ball, P.Geo. is the Qualified Person who prepared the technical information contained in this news release.


ON BEHALF OF SILVER PURSUIT RESOURCES LTD.

Adrian Robertson
President and CEO



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.



Contact Information

Silver Pursuit Resources Ltd.
Investor Relations
604-682-2928 or Toll Free: 1-888-400-2928
604-685-6905 (FAX)
www.silverpursuit.ca