RJX.A RJK Explorations Ltd

KIRKLAND LAKE, ON, Oct. 24, 2011 /CNW/ - RJK Explorations Ltd. (RJX.A: TSV) ("RJK") is pleased to provide an update to its exploration activities on its 15,000 hectare Blackwater East, West, Northeast and Dave 2 properties, located in the Blackwater Gold Camp, approximately 100 kilometers southwest of Vanderhoof, B.C. The properties are contiguous to the east and west of New Gold's Blackwater bulk tonnage gold deposit containing an estimated indicated and inferred resource of approximately 6.6 million ounces of gold (news release of Sept. 19, 2011 - New Gold Inc.) which is currently being expanded with a 50,000 meter drill program. On Oct.17(th), New Gold Inc. (NGD) announced that it was acquiring two junior exploration companies for $131 million and $17 million respectively, specifically for their land positions in the Blackwater Gold Camp. RJK reports that Geotech Ltd. has submitted a Summary Interpretive Report on the recently flown 1,540 km ZTEM Airborne Geophysical Survey on the company's Blackwater East, West, Northeast and Dave 2 properties. This survey has identified several areas of interest with a very strong feature located on the Blackwater East/Northeast claims. Taken from the Summary Interpretation Report on the Helicopter-Borne Z-Axis Tipper Electromagnetic (ZTEM) and Aeromagnetic Survey Results, Geotech Ltd. September 2011. "The survey blocks discussed in this study are situated in the Blackwater Gold District, which hosts the Richfield Gold Deposit, a low sulfidation epithermal mineralization system, characterized by high resistivity and flanking high magnetic susceptibilities. In East Block, ZTEM features of interest were identified and computer-modeled using 2D inversion with topographic correction. The eastern side of the block has an undifferentiated conductivity, suggesting a porous volcanic or sedimentary unit, juxtaposed to more resistive unit, possibly an intrusive or felsite, to the west. The latter is characterized by a central cluster of circular resistive zones surrounded by more conductive rocks - resembling a central, potassic altered volcanic epithermal center and surrounding claychlorite altered halo. East block therefore represents an area of exploration interest. Both East and West blocks feature characteristic high resistivity anomalies that are flanked by magnetic highs, analogous to the Richfield (now New Gold) deposit geophysical target model." RJK has also recently completed 55 km of line cutting on the properties at a 300 meter line spacing and approximately 25 km of pole-dipole IP surveying on two high interest areas on the East/Northeast claims. Preliminary 2D IP results have been received for grid EBW-1 and two moderate to high resistivity/chargeability areas have been identified which may represent mineralization. Both areas are of deposit scale size and open to further geophysical expansion. These anomalies coincide with Geotech's first and third high resistivity anomaly picks. Preliminary results have also been received for grid EBW-2 and a moderate to high resistivity/chargeability feature is seen to be developing in Geotech's fifth high resistivity pick. Only one IP line has partially covered this feature. Additional ground geophysical surveying is planned to fully evaluate the extent of this feature. The Blackwater East/Northeast claims have received the bulk of exploration to date. Following the Airborne Digem V survey in December/January of 2010/11, a dedicated prospecting program was initiated in June, 2011 on the East, West and Dave 2 claims. A phase 1 soil sampling program was also completed at Blackwater East. In July, 2011, Geotech Ltd., was contracted to conduct their Airborne ZTEM geophysical system over all the properties. Line cutting and 2D IP geophysical surveying was contracted in August, 2011. RJK's prospecting efforts along with historic government mapping has concluded that both properties are extensively covered with glacial tills. Till identification through prospecting on Blackwater East suggests that the eastern half of the property is underlain by more mafic volcanics (Basalts) while the western half is underlain by felsic volcanics (Rhyolite). Airborne magnetic data reinforces this observation. A small highly brecciated felsic volcanic (Rhyolite) outcrop was located in the west-central part of the property. Chemical analysis has returned geochemically minor gold and silver values, however, a 75% SiO2 content was reported in two of the samples. This outcrop was the only one located on the property. Similarly, on the Blackwater West and Dave 2 claims which have very limited outcrop exposure, prospecting has identified felsic volcanic rocks in the North and South quadrants of the property. Sampling returned geochemically low values in gold, but copper and silver values were elevated in several samples with one sample giving 2976 ppm Cu and another giving 3.4 gm/t silver. Phase 1 soil sampling program at Blackwater East consisted of 173 sample sites completed on grid lines at a 600 meter spacing and samples taken every 100 meters. Sixteen soil samples returned greater than 20 ppb gold, an additional 24 samples returned 10-20 ppb gold with the highest sample returning 149 ppb gold. These samples are considered to be significantly anomalous in gold. The widely-spaced reconnaissance sampling indicates a gold-in-soil anomaly associated with a low magnetic signal is developing in the south-central part of the property. Additional work will be required to fully evaluate the potential for this area. It should be noted that soil sampling on New Gold's Dave claim reported a peak value of 220 ppb gold from a 2007 soil sampling survey and indicated four zones of anomalously high gold values 20 ppb gold. (B.C. Government Assessment File Number 29363) A historic Regional Drainage Sediment and Water Geochemical Data sampling program was conducted by Geoscience BC in the Anahim Lake and Nechako River area of Central B.C. Five widely spaced silt samples were collected on the Blackwater East claims. One sample site located in the central west part of the claims returned highly anomalous values in Au, Ag, Cu, Zn, Mo and Ni, similar to the anomalous down-slope stream sediment silt sample results from the Blackwater Gold deposit. RJK will focus its immediate activities on the East/Northeast claims with additional follow-up work on the West/Dave 2 claims commencing early next year. Diamond drill permit applications for the East/Northeast claims have been submitted to the provincial government for approval. Proposed drill locations are readily accessible via established logging roads, as well as there being an adequate supply of water for winter drilling operations. To view the new ZTEM maps and bedrock rock samples, please visit: http://www.rjkexplorations.com/pj_blackwater.htm "Within a relatively short exploration time frame, we have developed several high quality exploration targets which will be drill tested upon receipt of all Government approvals," said Glenn Kasner, President of RJK. The technical contents of this news release have been reviewed by Derrick Strickland, P.Geo. Forward Looking Statements: includes statements contained in this news release regarding discussions in respect of a potential acquisition and funding arrangement and RJK's expectations regarding same and the trading of its shares on the TSX Venture Exchange. This forward-looking information reflects the current expectations or beliefs of RJK based on information currently available to it. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of RJK to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, RJK. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: the failure of RJK to enter into an agreement in respect of such arrangement; delays in obtaining or failure to obtain any required regulatory and/or shareholder approval; and other factors. Any forward-looking information speaks only as of the date on which it is made. Although RJK believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. 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. Web Site: http://www.rjkexplorations.com                                                                                                                           RJK Explorations Ltd. CONTACT: Glenn Kasner, President Vancouver Office:Telephone: (705) 567-5351 James (604) 565-5967Mobile: (705) 568-7567 james@rjkexplorations.comkasner1@ntl.aibn.com

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