Far East Gold Limited announced that the complete assay results for the Phase 1 drill program at the Woyla Project have been received. The final assay results from the Phase 1 drill program confirm the Company's belief that the Woyla project is highly prospective to contain a high-grade gold and silver epithermal resource. The Company has also commenced the Phase 2 drill program with three rigs now operating at two of the project's prospect areas.

Thirteen drill holes totaling 1,984.2m were completed at the Rek Rinti prospect area. This included a 50m section of RRD006 that was redrilled (RRD006R) to improve recovery through a zone of intensely fractured core. Overall core recovery was 91%.

Table 1 lists collar details for the completed drill holes. The drill program was designed to test several quartz veins in areas of active artisanal mining. Two holes were drilled in sections to test the quartz veins over a vertical extent of approximately 100m.

The drilling has confirmed the interpreted structural-controlled nature of the Rek Rinti vein system and expected vein textures and styles of mineralization and alteration. The Rek Rinti vein system is comprised of seven main individual quartz veins ranging from 0.7m to 20m in width. The veins are structurally-controlled with a dominant northeast orientation and can be traced at surface for up to 250m in length.

Several of the veins are sites of active artisanal mining. Minor vein splays and sigmoidal veins occurring between main veins are indicated but are not yet fully mapped. The quartz veins at Rek Rinti are mostly chalcedonic with distinct colloform-crustiform textures with fine-grained intergrown adularia and are associated at surface with zones of intergrown massive black manganese.

The Company has previously reported on the occurrence of bonanza grade gold-silver mineralization within samples of quartz veins exhibiting distinct ginguro textures. Petrographic study has identified fine-grained electrum associated with sphalerite and galena as part of the ginguro bands. Samples of veins at surface with ginguro banding have returned assays of; 38.14 g/t Au with 581 g/t Ag and 44.24 g/t Au, and 91 g/t Ag.

The drill core and the assay results are consistent with the high-grade gold and silver grades obtained from surface samples of the exposed veins. Rek Rinti - Susi Vein Phase 1 Drill Results: Holes RRD001-003 were drilled to test a quartz vein exposed at surface in an area of active artisanal mining. At surface the Susi vein was up to 20m wide of chalcedonic and crystalline quartz containing abundant intercalated black manganese.

Surface vein samples intersected up to 2.8 g/t Au. The holes intersected black manganese bearing massive crystalline to chalcedonic quartz near surface but it was not present in the drillhole beyond approximately 50m depth. The Susi vein was intersected in RDD001 from 83.9 to 114.3m downhole representing an apparent true width of approximately 10m.

Significant intersections include; 1.7 g/t Au, 5.7 g/t Ag over 5.1m (86-91.1m), with 5.76 g/t Au, 9.8 g/t Ag over 0.8m at 89m. A narrow intersection (0.7m) of 4.52 g/t Au and 29.9 g/t Ag was intersected near hole bottom at 196m depth. Pyrite is locally abundant to 10%.

RRD002 was drilled to intersect the manganese bearing part of the vein at a shallower depth and intersected the vein from 7.5m-10.7m having an apparent true width of 2.5m. Minor black manganese was present. An intercept of 0.7 g/t Au, 7.2 g/t Ag over 6.9m (3.8-10.7m), with 2.38 g/t Au, 6.3 g/t Ag over 0.8m occurring at 8.10m depth was returned.

Holes RDD001 and RRD002 intersected the vein however the depth extension of the vein was terminated in a fault breccia zone. RRD003 intersected the Susi vein from 168.15m to 194m representing an apparent true width of approximately 20m. The vein was predominately massive crystalline and chalcedonic quartz with local brecciation suggesting multiple periods of quartz veining and brecciation.

Assay intersections include; 0.6 g/t Au, 6.3 g/t Ag over 2.4m (16- 18.4m), and 30.9 g/t Au, 18.9 g/t Ag over 2m (191-193m), incl. 59 g/t Au, 36.6 g/t Ag over 1m at 192m. The latter occurs within an intersections of chloritic lapilli tuff containing several narrow (1cm) and thinly banded crystalline quartz and bluish opaline quartz veins.

Such high-grade gold mineralization within the deep veins peripheral to the main Susi quartz vein was unexpected as is the relatively low associated Ag concentration and absence of significant wallrock alteration. The relationship of these veins to the Susi vein is not known. It is possible that the intersection is part of a vein splay from the Susi vein or possibly the Rame vein or perhaps a deep en echelon vein.

Deeper drilling is warranted to investigate the potential for deep high-grade veins at Rek Rinti. Sections of the Susi vein intersected in RRD03 also contain coarse calcite which appears to be a late infill into open vugs within the vein. Significant carbonate also occurs as part of quartz-carbonate matrix breccias that appear late stage overprinting earlier crystalline and chalcedonic quartz veins and colloform banded, ginguro bearing veins.

Scout hole RRD012 also tested the Susi vein approximately 150m northeast along vein trend from hole RRD001- RRD003. The hole intersected the Susi vein zone over an approximate drilled width of 18m (178.7-196.4m) consisting of abundant milky white to greyish quartz stock work veins that commonly show thinly banded colloform textures and rare amethyst, massive white quartz veins and quartz (+carbonate) breccia with angular clasts of andesite wallrock. Assay results indicate about 0.18 g/t AuEq over the interval.

The zone is associated with two distinct brittle fault zones one at the footwall contact with altered andesite. Also occurring are numerous late thin (cm) and thinly banded bluish opaline quartz veins and quartz-carbonate veins that crosscut earlier quartz veins. These late-stage veins show open vugs which in some cases are filled with crustiform quartz and euhedral quartz crystals.

Fine-grained (5%) disseminated pyrite (+clay, silica) is common in groundmass and as part of argillic alteration of andesite. As seen in RDD003, the quartz-carbonate veins and breccia appear to be the last event and while containing disseminated pyrite shows no association with Au-Ag or Cu-Pb-Zn mineralization. The highest-grade assays returned from RDD012 occur within two narrow quartz veins intersected before intersection of the Susi vein-breccia zone.

There were two other Phase 1 drill holes planned to test the Susi vein, RRD010 and RRD013 however both holes were abandoned due to ground stability issues while drilling.