ARA Anconia Resources Corp

Anconia Resources Corp. (TSX VENTURE:ARA) ("Anconia" or the "Company") is
pleased to provide an overview of the Melchett Lake Property (the "Property") as
well as the results of a recent down the hole BHTEM survey. As announced in the
Company's press release dated December 21, 2011, Anconia has an option to
acquire a 100% interest in 17 unpatented mining claims located approximately 60
km north of Nakina, Ontario comprising the Property. The Property covers a
strike length of 16 km of highly prospective sulphide bearing volcanogenic
massive sulphide (VMS) stratigraphy. A whole rock geochemical survey of the
Property has identified two areas situated along this strike length that
maintain major element alteration and anomalous minor element (Zn, Pb, Ag, & Cu)
concentrations characteristically associated with VMS deposits and more
specifically with being proximal to a source vent within a VMS genetic model.
These two areas are referred to as the Relf Zone (North and South areas) and the
Nakina Zone. Of these two areas of interest, the most extensive and detailed
exploration has historically been carried out over the Relf South Zone.


Jason Brewster, President of Anconia commented "The down the hole BHTEM survey
that we have recently completed has supported the exploration model developed on
the Melchett Lake Property. This survey encourages Anconia to continue
exploration on this property, as it indicates potential proximity to a VMS
source". 


At the Relf South Zone, which was initially detailed by surface geologic mapping
and whole rock geochemistry, stratiform Zn mineralization and intense
hydrothermal alteration characteristically associated with VMS deposits has been
documented. In 1983 a shallow drill hole (KAR-03) was completed to intersect the
down dip extension of the Relf South Zone. This drilling identified a
"mineralized sequence", approximately 150m in true thickness, of intensely
altered and mineralized (Zn) felsic volcanics. The center of the intersection of
KAR-03 with the "mineralized sequence" is approximately 150m below surface.
Within the "mineralized sequence" 5 distinct Zn rich stratigraphic horizons
(Units 1 through 5) were identified (KAR-03 in Table 1). There was no
geophysical, airborne or ground magnetics or EM, over the surface expression of
the Relf South Zone, however, whole rock geochemistry indicated that alteration
and mineralization were increasing down dip.


In 2007 one drill hole (SB-07-01 619m in length) was completed to investigate
the apparent down dip extension of the increasing alteration and mineralization.
The drill hole was spotted to intersect the center of the "mineralized sequence"
directly underneath the Relf South Zone, at approximately 375m below surface.
The whole rock geochemistry of the felsic volcanics indicated that alteration
within the "mineralized sequence" in this hole was more intense than that
reported in the near surface drillhole KAR-03. Within the "mineralized sequence"
the 5 stratigraphically controlled geochemically Zn enriched horizons were again
identified. Concentration of Zn in these horizons was more anomalous than in
drill hole KAR-03 (see SB-07-01 in Table 1). Geochemically anomalous Cu
mineralization was also reported sporadically within the immediate footwall to
the "mineralized sequence". A down the hole BHTEM survey was completed on hole
SB-07-01. There were no in hole conductors, either related to the Zn horizons
within the "mineralized sequence" nor the Cu mineralization in the immediate
footwall felsic volcanics were identified. However, one significant moderate
intensity anomaly was detected off the bottom of hole SB-07-01 and was
interpreted to be located 100m to the east.


A follow up drill hole (SB-08-02 688m in length) was completed in 2008 to
investigate the causative source of the off hole conductor previously
identified, which intersected the center of the "mineralized sequence" at
approximately 350m below surface. Whole rock geochemistry of the felsic
volcanics "mineralized sequence" were found to be more intense than either
KAR-03 or SB-07-01 indicating a possibly increasing proximity to a source vent.
The richest Zn mineralization intersected to date was reported in drill hole
SB-08-02 (Table 1), which also indicates an increasing proximity to a source
vent. Anomalous Cu mineralization was also reported within the immediate
footwall to the "mineralized sequence" in drillhole SB-08-02 (Table 1). The Cu
mineralization within the footwall felsic volcanics was characterized by fine
interconnected veinlets of chalcopyrite, which is consistent with a stockwork
zone found to underlie VMS deposits. This drill hole was not investigated by
down the hole BHTEM at the time, so the causative source of the off hole
conductor identified in hole SB-07-01 remained unresolved.


In 2012, Anconia completed a down the hole BHTEM survey of drill hole SB-08-02.
That survey identified numerous conductive zones. Within the "mineralized
sequence" conductive zones were found to be directly related to Zn enriched
horizons Unit 1, 2, 3 and 4 (see SB-08-02 in Table 1). These findings are the
first reported incidence of increased conductivity related to the Zn stratiform
mineralization. Within the footwall felsic volcanics 5 conductive zones were
identified. Of these, 4 are directly related to increased Cu mineralization
(veinlets of chalcopyrite) (Table 1). One of these conductive zones, Conductor
8, situated between 550m and 560m is believed to be the causative source of the
off hole conductor previously identified in drill hole SB-07-01. One final
conductor (Conductor 10 Table 1) was identified as lying off the end of
drillhole SB-08-02. The causative source of this conductor is believed to be to
the east of the hole.


In summary, the intensity of hydrothermal alteration characteristically
associated with VMS deposits is increasing with depth down plunge below SB-08-02
as is the concentration and thickness of the Zn enriched stratigraphic units
found within the "mineralized sequence". The increased Cu concentration within
the footwall felsic volcanic sequence and reports of veinlets of chalcopyrite
are further indicators of an increasing proximity to a source vent stockwork
zone. Contouring of the depositional basin defined by the footwall and
"mineralized sequence" contact indicates that the basin is also increasing in
depth down plunge, a location where economic concentrations of massive sulphides
would typically be found. Further investigation of the mineralization, both the
Zn rich stratigraphic Units 1 through 5 as well as the footwall "stockwork" like
Cu mineralization down plunge, is planned for 2012.


To view Table 1 please visit the following link:
http://media3.marketwire.com/docs/AnconiaTable1.pdf. 


Sample QA/QC 

At total of 233 composite geochemical core samples were collected from diamond
drill holes KAR-03 (33 samples) SB-07-01 (92 samples) and from SB-08-02 (107
samples). Each sample consisted of 5 pieces of whole core, each approximately
7cm in length, that were collected at regular intervals across a 1m sample
section. The 5 pieces of drill core comprising each sample were bagged, tagged
and sealed in the field. Samples were transferred from the field to Thunder Bay
by secure transport where transfer to bonded transport for delivery to SGS
Canada Inc.'s laboratory in Toronto, Ontario was arranged. At SGS the samples
were subsequently crushed, ground and analyzed by ICP methods for 40 elements.
As the core sampling program was geochemical in nature, i.e. to provide vector
information, elements reporting concentrations greater than their respective
upper limits were not rerun for assay concentrations.


David G. Wahl, P. Eng., P.Geo., Chairman of Southampton Associates Inc. and a
"Qualified Person" pursuant to NI 43-101 has reviewed and approved the technical
information in this press release on behalf of the Company. 


About Anconia 

Anconia is a base and precious metals exploration and development company, which
is focused on providing shareholder value through the advancement of its
properties in the Nunavut Territory and Ontario, Canada. Anconia is undertaking
a comprehensive exploration program to determine the potential of the projects
currently in its portfolio. 


Forward-Looking Information

This news release contains forward looking statements within the meaning of
applicable Canadian securities laws including with respect to the potential of
the Melchett Lake greenstone belt to host additional VMS concentrations along
strike. Words such as "may", "will", "should", "anticipate", "plan", "expect",
"believe", "estimate" and similar terminology are used to identify
forward-looking statements and forward-looking information. Such statements and
information are based on assumptions, estimates, opinions and analysis made by
management of Anconia in light of its experience, current conditions and its
expectations of future developments as well as other factors which it believes
to be reasonable and relevant. Forward-looking statements and information
involve known and unknown risks, uncertainties and other factors that may cause
actual results to differ materially from those expressed or implied in the
forward-looking statements and information. Risks and uncertainties that may
cause actual results to vary include but are not limited to: the speculative
nature of mineral exploration and development, including the uncertainty of
mineral reserve and resource estimates; uncertainties relating to the
availability and costs of financing needed to complete exploration activities;
exploration costs varying significantly from estimates; delays in the
exploration and development of, and/or commercial production from, the
properties in which Anconia has an interest; unexpected geological or
hydrological conditions; operational and technical difficulties; fluctuations in
commodity prices; the existence of undetected or unregistered interests or
claims, whether in contract or in tort, over the property of Anconia; success of
future exploration and development initiatives; competition; operating
performance of facilities; environmental and safety risks, including increased
regulatory burdens, seismic activity, weather and other natural phenomena;
inability to, or delays in, obtaining necessary permits and approvals from
government authorities; risks relating to labour; and other exploration,
development and operating risks; changes to and compliance with applicable laws
and regulations, including environmental laws and obtaining requisite permits;
as well as other risks and uncertainties which are more fully described in
Anconia's annual and quarterly Management's Discussion and Analysis and in other
filings made by Anconia with Canadian securities regulatory authorities and
available at www.sedar.com. 


Forward-looking information speaks only as of the date on which it is provided
and, except as may be required by applicable securities laws, Anconia disclaims
any intent or obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise. Although
Anconia 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
information due to the inherent uncertainty therein.

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