Iron Creek Provides Vaquillas Drilling Update

VANCOUVER , Nov. 20 /CNW/ - Iron Creek Capital Corp. (TSX-V: IRN) is pleased to report the drilling results from the Vaquillas Prospect which is part of the Victoria Joint Venture with Hochschild Mining Holdings Ltd. ("Hochschild"). Hochschild completed 14 holes for a total of 3,869 meters. These results together with drilling results from Mena Resources Inc. (2005) and Minera Rayrock (1994) suggest that the Vaquillas Prospect has potential for high-grade gold/silver veins, as well as bulk-tonnage low-grade gold/silver mineralization.

Vaquillas Prospect Overview

The Vaquillas Prospect is a structurally controlled gold/silver system hosted within andesitic lavas flows, tuffs and rhyolitic volcanic breccias centered on the old Vaquillas silver mine. The Vaquillas Prospect is located in a 2.5 km long x 1 km wide dilational jog between the Vaquillas and Cenizas fault segments of the Domeyko fault zone. The Vaquillas fault system appears to be the main control for the mineralization which strikes north-northwest and dips back to west. In addition, west-trending and northwest-trending crosscutting faults and veins appear to be an important control for high-grade mineralization observed in some of the drill holes.

Summary of Results

Recent drilling confirms continuity of disseminated gold silver mineralization. Drill hole VVQRC09013 was inclined to the west and believed to have been drilled down the plunge of the mineralization from 0 to 273 meters. The drill hole was mineralized from the top of the hole to the bottom and has an average grade of 1.0 g/t Au and 16.0 g/t Ag, including an interval of 16 m of 3.1 g/t Au and 35.0 g/t Ag from 184m to 200 m. In 2005, Mena drilled VQ009 (inclined to the east and on the same section as Hochschild drill hole VVQRC09013) which cut the main mineralizing structure intercepting 94 meters of 0.6 g/t Au and 19.1 g/t Ag.

Hochschild drill holes VVQRC09001 through VVQRC09006 intercepted broad zones of strongly anomalous gold and silver mineralization (from surface to approximately 250 meters) with values ranging from 0.1 gram per tonne (g/t) to in excess of 1 g/t gold. Examples of these broad, strongly anomalous zones include VVQRC09001 grading 0.32 g/t over 77 meters, VVQRC09002 grading 0.41 g/t over 105 meters, VVQRC09003 grading 0.55 g/t over 46 meters and 0.45 g/t over 86 meters, and VVQRC09004 grading 0.55 over 100 meters.

Additionally, Hochschild drill holes intersected high-grade gold veins within the lower grade material. Highlight results include 4 meters at 3.3 g/t Au and 580.5 g/t Ag (VVQRC09002); 2 meters at 19.4 g/t Au and 39.0 g/t Ag (VVQRC09003); 1 meter at 4.9 g/t Au and 60.9 g/t Ag (VVQRC09005); and 1 meter at 7.6 g/t Au (VVQRC09012) Continuity of these veins was not part of this first pass drilling.

The following table summarizes the Hochschild and Mena (2005) VQ009 results:

    
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    Drill Hole      Map       From   To       Interval    Au      Ag    Au Eq
                    No.        (m)   (m)        (m)    (g/t)   (g/t)    (g/t)
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    VVQRC09001       H1        208   209          1      4.3       -       -
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                               213   220          7      1.2    17.7    1.52
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    VVQRC09002       H2        195   216         21      1.1   128.5    3.44
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      including                204   208          4      3.3   580.5   13.85
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    VVQRC09003       H3         74    76          2      2.2    17.7    2.52
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                               110   112          2     19.4    39.0   20.11
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                               188   189          1      3.4    21.2    3.79
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    VVQRC09004       H4        122   128          6      1.1    10.9    1.30
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                               132   151         19      1.0     5.9    1.11
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                               169   178          9      1.3     5.1    1.39
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    VVQRC09005       H5         40    41          1      4.9    60.9    6.01
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    VVQRC09006       H6         43    47          4      0.9    22.2    1.30
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                                59    64          5      0.8    11.4    1.01
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                                85    88          3      1.5    50.2    2.41
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    VVQRC09007       H7         30    34          4      1.4    64.7    2.58
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    VVQRC09008       H8         98   105          7      1.0     1.6    1.03
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    VVQRC09009       H9         15    24          9      1.0     1.2    1.02
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                                95    96          1      3.9     2.3    3.93
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    VVQRC09010      H10  No significant results
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    VVQRC09011      H11  No significant results
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    VVQRC09012      H12         23    24          1      7.6     0.2     7.6
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    VVQRC09013      H13          0   273        273      1.0    16.1    1.29
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      including                  0    20         20      1.0     2.9    1.05
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      including                 56   106         50      1.2    30.9    1.76
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      including                119   127          8      0.7     7.2    0.80
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      including                134   140          6      1.6    33.8    2.21
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      including                156   165          9      1.3    25.8    1.77
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      Including                167   273        106      1.4    19.8    1.76
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    VVQRC09014      H14  No significant results
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    VQ009            M9         82   176         94      0.6    19.1    0.95
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      including                 88    90          2      1.2    32.1    1.78
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      including                108   110          2      0.7   186.0    4.11
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      including                130   132          2      1.4     8.6    1.56
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      including                162   164          2      1.1    11.1    1.30
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      including                172   174          2      1.7     5.8    1.81
    -------------------------------------------------------------------------

    Note: Silver equivalency estimates were derived using a silver-to-gold
    ratio of 55:1. The widths reported are the length of the drill core
    intersection as the true orientation of the mineralization has not been
    established.
    

Drill holes VVQRC09013 and VQ009 confirm that the mineralized zone is over 90 meters wide and extends to a depth of at least 250 meters. Drilling by Hochschild and Mena also shows that mineralization extends for over 1000 meters along strike. The zone is open at depth as well as to the south-southwest. Several of the higher grade intercepts appear to coincide with west-northwest cross-cutting structures identified from the ground magnetic survey. The potential exists to extend the target areas along strike of these structures. Based on these encouraging results, Hochschild executed a second phase of drilling that was completed on November 14th totaling 2,490 meters in 9 holes. Complete drill results are expected by year end.

Included with this release is a map of all the drill holes completed at the Vaquillas Prospect as well as a cross section. For purposes of simplifying the map and cross section, all Hochschild holes have been labeled as H1, H2 etc and all Mena Holes have been labeled as M1, M2, etc. The map, cross section and a list of the drill results will be posted on the Company's website at www.ironcreekcapital.com. For additional information on Vaquillas and all the work completed prior to the Hochschild JV, please refer to NI43-101 report which can be found on SEDAR as well as on our website.

Hochschild Joint Venture

Hochschild has the option to acquire a 60% interest in the Victoria Project, by incurring US$6.0 million in exploration expenditures by December 31, 2013 . Of the $6.0 million , Hochschild has a firm commitment to incur $750,000 by December 31, 2009 (which they have completed).

QA/QC Program

The Vaquillas Program is managed by Hochschild. Terra Service SA, an independent drilling contractor, was used to complete the drilling program. Hochschild's samples were collected in accordance with accepted industry standards and best practices. The samples were submitted to ACME Laboratories in Santiago , Chile , for analysis. As standard procedure, Hochschild conducts routine quality-assurance and quality-control analysis on all assay results, including the systematic utilization of certified reference materials, blanks and field duplicates.

About Vaquillas Property

The Vaquillas Property covers approximately 45,000 hectares (including the Victoria JV with Hochschild) and is prospective for copper and precious metal mineralization. The Company is currently looking for a joint venture partner for the southern portion of Vaquillas (referred to as Vaquillas Sur) which is prospective for copper mineralization and bulk-tonnage, low-grade gold mineralization.

About Iron Creek

Iron Creek Capital Corp. is a Vancouver-based mineral exploration company engaged in the acquisition and exploration of precious and base metals projects in Chile .

Qualified Person: Demetrius Pohl , P. Geo., is the Company's Qualified Person as defined by National Instrument 43-101, and is responsible for the accuracy of the technical information in this press release.

    
    ON BEHALF OF THE BOARD

       "Michael Winn"
    Michael Winn, President

         Neither the TSX Venture Exchange nor the Investment Industry
       Regulatory Organization of Canada accepts responsibility for the
                     adequacy or accuracy of this release

                          Forward-Looking Statement
                          -------------------------
    

Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Iron Creek Capital Corp. Actual results may differ materially from those currently anticipated in such statements.

For further information: Suite 830-355 Burrard Street, Vancouver, BC, Canada, V6C 2G8, T: [phone], F: [phone], www.ironcreekcapital.com, [email protected]