Fredonia Mining Inc. announced the completion of a further drilling program at its El Dorado Monserrat (“EDM”) property, located in Santa Cruz, Argentina. 10 HQ diamond drill core holes were drilled at the La Herradura prospect, (“LH”) with a further drill hole on the ‘Gladys' prospect, 4.5 km to the north west. In total 11 holes were drilled for 2,482.80m.

With the cessation of drilling, the principal activity in the field base at EDM is the focus on the processing of the drill core: cutting and sampling (including QA/QC). It is anticipated that all sampling will be completed by month's end. The camp will then be put on ‘care and maintenance' until the Austral spring.

The Company anticipates drilling will recommence in October. Preparations are already underway for this 2,500m follow-up drilling phase at LH, but which will also include further exploration drilling on other prospective targets on the EDM property. Drill holes have intercepted hydrothermal breccias, veins and stockworks, hosted in a phreatomagmatic breccias, felsic domes and dykes that intrude the andesite flows which form the country rock.

There are assays pending for the remaining 6 drill-holes at LH. The recent drilling whilst of limited meters has enhanced the project's potential and although assays for only 4 of the 10 holes have been received these have confirmed the presence of wide intersections of mineralised material with higher grade inclusions. The results to date support and indicate the geological model of a low sulphidation epithermal Au-Ag mineralised system within an extensive lower grade breccia halo hosted in a predominantly andesitic, variably brecciated formation.