First American Silver Corp. (OTCBB: FASV) is pleased to announce that it has entered into and signed a Definitive Lease Agreement with Pyramid Lake LLC and Anthony A. Longo for their Mount Jackson property. First American Silver Corp has acquired 153 BLM claims and has created a project with an overall size and magnitude of almost five square miles.

The Mount Jackson project is located in a very under explored sector of the Walker Lane deformation zone south of the Goldfield caldera in the Mount Jackson Range Emeralda County Nevada. Gold and Silver were discovered there in 1987 by Pegasus Gold who drilled 15,000 feet of RC drilling in a total of 44 holes. This drilling outlined two separate zones of mineralization that is hosted in siltstones of the Cambrian Harkless Formation. Precious metals mineralization is hosted in moderately dipping tabular bodies of vuggy quartz druse, and is spatially associated with rhyolite domes. The highest grades (0.03-0.10 opt Au, .05-3.0 opt Ag) are typically found where the Harkless siltstones are immediately proximal to the uncomfortable contact with the overlying Cambrian Emigrant limestone. A number of old workings, and mineralized surface outcrops can be found on the property over an area of roughly four square miles and previous drilling determined that oxidation of the host rocks occurs to depths greater than 400 feet locally.

Thomas J. Menning stated, “We are very excited about this acquisition and firmly believe that it will be a major contributor to growing the asset base of First American Silver Corp.”

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