January 3, 2014
Vancouver, B.C., January 3rd 2014 – La Quinta Resources Corporation (TSX-V: LAQ / Frankfurt: LQK / OTCBB: LQRCP) (“La Quinta” or the “Company”)is pleased to announce that it has entered into an Option to Purchase Agreement (the “Agreement”) with Geoffrey N. Goodall, B.SC., P. Geo., for a 100% interest in the Frances Bay Copper prospect (“Frances Bay” or the “Property”). The Property consists of a 206 hectare mineral claim located in the Vancouver Mining Division of south western British Columbia, approximately 90 kilometres northwest of Powell River, BC.
The Agreement requires the issuance of 200,000 shares upon signing and an additional 200,000 shares on July 9, 2015 which coincides with the Property’s tenure renewal date with the Province of BC. Mr. Goodall will also retain a one per cent (1%) NSR of which 100% may be purchased at any time for $1 million CAD. The Company is under no commitment to conduct work on the Property other than as required to keep the Property in good standing under the BC Ministry of Energy and Mines mineral tenure requirements.
The Property lies within the Coast Plutonic Complex and is underlain primarily by granodiorite with local areas of quartz diorite. The age of the plutonic complex ranges from lower to upper cretaceous. The Coast Plutonic Complex hosts copper deposits such as the OK Copper Property located 65km southeast of Frances Bay.
A near vertical cliff on the northern shore of Frances Bay exposes malachite staining over a 10 metre by 20 metre area. Quartz vein stockwork hosted within granodiorite contains trace amounts of chalcopyrite, bornite and pyrite. Prospecting by Mr. Goodall during the 2011 work program identified three additional zones of similar mineralization over an approximate 1km by 2km area on the Property providing strong indications of a large mineralized zone.
The Property is located between Toba and Bute Inlets and is water accessible year round. A barge landing site and a network of logging roads provide ready access to the interior of the Property with moderate to steep topography.
Mr. Goodall, B. SC., P. Geo, has agreed to prepare a technical report to be filed within the next month and has reviewed and takes responsibility for this news release as it pertains to the requirements of National Instrument 43-101.
About La Quinta Resources Corporation
In addition to the Frances Bay Property, the Company has recently acquired by staking the Coppertonic property, located south of Canim Lake, British Columbia, is a copper-gold occurrence historically known as the Sleeping Giant prospect. The project covers 24 claim units covering 480 hectares. A prominent magnetic anomaly centered on the property is interpreted to reflect a larger area of covered porphyry than what outcrops. Historic drilling on the prospect has included an aggregate of twenty two drill holes as described in the Company’s August 15, 2013 news release. No resources have been identified on the Coppertonic property.
On behalf of the board,
Dustin Henderson, BBA
President, CEO and Corporate Secretary
La Quinta Resources Corp.
1 (604) 347‐9101
“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 document includes forward- looking statements. When used in this document, the words “potential”, “plan”, ”could”, “estimate”, “expect”, “intend”, “may”, “should”, and similar expressions are intended to be among the statements that identify forward-looking statements. Although La Quinta believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.”