Vancouver, Canada - March 15, 2012 - Greg Myers, CEO and President of Caza Gold Corp. (CZY: TSX-V, FSE: CZ6, and OTC Pink Sheets: CZGDF), announces that Caza has defined a large initial drill target at the Quisaltepe high sulfidation epithermal gold zone on the Los Andes project in Nicaragua.
Detailed geological mapping and rock chip sampling (approximately 575 samples in the Quisaltepe area) have defined a strong gold anomaly over an area at least 2 kilometers (km) long and up to 300 meters (m) wide. High gold values up to 2.53 grams per tonne (gpt) in rock chip samples are associated with advanced argillic alteration and strongly silicified zones typical of high sulfidation epithermal gold deposits.
The highest gold values appear to be closely associated with the intersections of fault structures, possibly indicating leakage from mineralization deeper in the hydrothermal system. Quisaltepe is located at the margin of a large volcanic caldera, one of a series of volcanic calderas and high sulfidation epithermal alteration zones lying along a regional 1st order northwest-trending fault zone that defines the Central Gold Belt in Nicaragua.
Broad scale alteration and trace metal anomalies at Quisaltepe are zoned around 2nd order northeast- and north-trending cross-faults. The Quisaltepe, San Francisco and Pedregal drill targets are each located along a northeast-trending fault zone where it is cut by the northwest-trending faults (see map link).
More than 40 strongly silicified breccia bodies with advanced argillic and argillic alteration and trace metal anomalies occur within this regional northeast-trending structural zone and host anomalous gold values and highly elevated values of trace metals, which are associated with gold such as arsenic, bismuth, and tellurium.
A drill contractor has been selected and the Phase 1 drill program is scheduled to commence in the next few weeks at Quisaltepe, targeting the northern flank of Cerro Quisaltepe to test the deeper portions of the fault zones below the surface gold anomalies. Four to six drill holes each 200 m to 400 m deep will angle across the structures towards the south.
A parallel target occurs approximately 1 km to the north of Quisaltepe on the lower ridgelines and hosts the 2.53 gpt rock chip sample. This area has sporadic outcrops and several landslide deposits covering silicified breccia bodies. Drilling is planned to test this structure zone as well.
The Quisaltepe Zone is one small part of the overall epithermal gold system mapped at Los Andes. The Company continues to map and sample the Los Andes Property and has thus far identified 10 gold targets along a 12 km long portion of the fault zone. The Pedregal silver-gold zone, 7 km to the northwest of Quisaltepe, is also a top priority target and further details will be released next week.
Soil and rock chip sampling also continues to try and define the limits of the new San Francisco drill target on the San Francisco Property located 5 km south of the Los Andes Project on the same northeast-trending structural zone which hosts the Quisaltepe and Pedregal targets. Currently the San Francisco gold soil anomaly measures at least 750 m by 750 m and is open in all directions.
The Company has been approved for trading on the USA OTC Pink Sheets under the symbol CZGDF and is proceeding with listing its common shares for trading on the OTCQX in the USA. The Company has engaged Merriman Capital Inc. as its Principal American Liaison. The listing in the U.S. will improve the liquidity of its common shares to better serve the Company's U.S. shareholders.
Greg Myers, Ph.D. P. Geo, CEO of the Company, is the Qualified Person who reviewed and approved the contents of this property update.
Caza Gold Corp. is a growth-oriented gold exploration company listed on the TSX-V: CZY, FSE: CZ6, and OTC Pink Sheet: CZGDF. The Company is focused on the acquisition and exploration of strategic gold properties in Mexico and Latin America.
CAZA GOLD CORP.
/s/ Greg Myers
President and CEO
"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."
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Certain statements contained herein constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties, as discussed in the Company's filings with Canadian and United States securities agencies. The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable law. We seek safe harbour.