Gunpoint Exploration Ltd. reported on the corporate activities underway in 2013. The Gunpoint management team is focused on advancing the company's Talapoosa Gold Project, a low-sulfidation epithermal gold/silver property located in the Walker Lane gold trend of western Nevada, approximately 45 kilometers east of Reno. Currently, Tetra Tech is preparing an updated NI43-101 resource estimate on Talapoosa, which is expected to be available in March 2013.

The updated resource estimate incorporates the results of the 2011 drill campaign as well as a detailed technical reinterpretation of the geologic controls on the mineralization. The 2010 NI43-101 resource estimate, which was based solely on historic data, consists of 632,000 ounces of gold @ 0.93 g/t gold and 8.2 million ounces of silver @ 12 g/t silver in the Measured and Indicated categories and an additional 326,000 ounces of gold @ 0.89 g/t gold and 4.25 million ounces of silver @ 11 g/t silver, in the Inferred category. Upon completion of the updated NI43-101 resource, Gunpoint will initiate a Preliminary Economic Assessment studying the viability of developing an oxide heap-leach and CIL operation on the Talapoosa resource.

Tetra Tech anticipates the PEA will be completed in the third quarter.