Visible Gold Mines Starts its Phase 2 Drilling Program on Joutel Property in Quebec

About this update from Visible Gold Mines Inc.

[{"type":"text","content":"\n\n\n\n\n\nROUYN-NORANDA, QC, Dec. 4, 2012 /CNW Telbec/ - Visible Gold Mines Inc.\n (TSXV: VGD) and (Frankfurt: 3V4) is pleased to announce that the company has mobilized a\n drill rig to its Joutel gold project located in the Joutel township\n Province of Quebec. The second phase of drilling will consist of\n approximately nine holes totaling 3,160 meters and the objectives are\n to test the extension zones of the gold values obtained from drilled\n holes done in 2011 as well as to validate the targets generated by the\n ground induced polarization survey executed during the first quarter of\n 2012. (see map on the company website at  www.visiblegoldmines.com). The company expects to complete the drilling program by the end of\n December 2012.\n\n\n\n\n\nPARTIAL ASSAY RESULTS FROM THE 2011 DRILLING PROGRAM -10-HOLES 6,016\nMETRES\n\n\n \n\n\nFrom\n\n\nTo  \n\n\nInt.\n\n\nAu\n\n\nHole\n\n\n(m)\n\n\n(m)\n\n\n(m)\n\n\n(g/t)\n\n\n \n\n\nJO-11-03A\n\n\n138.00\n\n\n141.00\n\n\n3.00\n\n\n4.13\n\n\n \n\n\n154.50\n\n\n157.50\n\n\n3.00\n\n\n4.43\n\n\n \n\n\n180.00\n\n\n183.00\n\n\n3.00\n\n\n1.63\n\n\n \n\n\nJO-11-06\n\n\n150.00\n\n\n153.00\n\n\n3.00\n\n\n2.41\n\n\n\n\n\nJoutel Project Option\n\n\nIn March 2011, Visible Gold Mines entered into an Option Agreement with\n Agnico-Eagle Mines Limited under which Visible Gold Mines can acquire a\n 50% undivided interest in the Joutel property, comprised of one mining\n lease and 477 mining claims located 150 km north of Rouyn-Noranda,\n northwestern Québec (see March 31, 2011 Press Release).\n\n\nTo acquire a 50% undivided interest in the Joutel property, Visible Gold\n Mines must incur $5 million in exploration expenditures on the property\n over a period of five years, which includes a firm commitment of\n $500,000 during the first year of the Option Agreement and $750,000\n during the second year. Work for an amount of $1,458,950 was occurred\n to date by Visible Gold Mines on the Joutel project.\n\n\nThe large land package includes the former Eagle Ouest and Telbel\n deposits which produced combined over 5,278,870 tons at a grade of 6.4\n g/t of gold (1.1 million ounces) from 1974 to 1993  (reference: R.\n Sansfaçon,  2012). This report is available on the company's website.\n\n\nQualified Person\n\n\nThis news release was writte...

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