Sego Resources Announces Fire Assays from Phase III Percussion Drilling

MM-11-PDH-94 1.006% Copper, 0.576 grams/tonne Gold, 1.69 grams/tonne Silver over 82 metres
Includes 26 metres 1.72% Copper, 0.921 grams/tonne Gold
Mineralization continues to the end of hole (EOH)

Diamond Drill Program Underway

VANCOUVER, Jan. 23, 2012 /CNW/ - Sego Resources Inc. ("Sego" or the "Company") is pleased to report that it has received fire assays from the Phase III percussion drilling program. The new Copper-Gold zone identified in Phase II (see NR November 28, 2011) has been extended to the southeast by 125 metres and remains open to the W, E, NE, SE, and at depth.  This extension is part of the Cuba Zone IP anomaly which is 350m x 1500m. Assays show a gradation from Copper-Gold, Gold-Copper to enriched Gold across the zone.  Most holes intersected intensely albitically and propilitically altered volcanics and microdiorite of the Upper Triassic Nicola Group. Significant assays are shown below:

PDH 94 from 18 to 100m  82m 1.006% Cu,  0.576 G/T Au  1.69 G/T Ag
- including from 20 -46m  26m of 1.72%  0.921 g/t Au              EOH 100m
PDH 78 from 18 to 32m 14m of 0.145% Cu with 0.209 g/t Au                EOH 50m
PDH  84 from 54 to 70m 16m of 0.164% Cu with 0.179 g/t Au               EOH 88m
PDH 85 from 38 to 60m 22m 0.136% Cu with 0.147 g/t Au                    EOH 100m
PDH 86 from 50 to 64m  16m of 0.161% Cu with 0.056 g/t Au               EOH 100m
PDH 87 from 12 to 54m 42m of 0.128% Cu with 0.088 G/T Au , including 2m of 0.433% Cu with 0.337 g/t Au from 26-28m                                         EOH 100m
PDH 88 from 2 to 16m 14m of 0.136% Cu with 0.056 g/t Au and 28 to 38m 10m of  0.154% Cu with 0.088 g/t Au              EOH 100m
PDH 89 8 to 22m 14m of 0.109% Cu with 0.343 g/t Au   EOH 60m
PDH 91 24 to 52m 28m of 0.146% Cu with 0.037 g/t Au and  62 to 78m 16m of 0.127% Cu with 0.024 g/t Au   EOH 80m
PDH 96 44 to 52m 8m 0.127% Cu with 0.142 g/t Au and 62 to 102m 40m of 0.23% Cu with 0.053 g/t Au
EOH 110m
PDH 97 70 to 80m 10m of 0.348% Cu with 0.095 g/t Au
EOH 98m
PDH 101 18 to 58m 40m of 0.134% Cu with 0.071 g/t Au including 2m of 0.39% Cu with 0.139 g/t Au from 44-46m
EOH 100m
PDH 102 36 to 66m 30m of 0.145% Cu with 0.027 g/t Au  EOH 80m

Fire Assay results can be found on our website at www.segoresources.com.

Phase III consisted of 25 percussion holes drilled on a 30 m x 30 m grid of 200 m x 150 m. PDH-11-94 is located 385 metres Southeast of PDH-09 and 123 metres Southeast of PDH-77.

The Granby-Cuba Zone is 350 m x 1500 m and is being drilled on a 30 metre grid basis. Thus far 102 percussion drill holes of Phases I, II, and III, totalling 7,280 metres have been completed.

2012 DIAMOND DRILLING PROGRAM

The 1500 metre 2012 diamond drill program, designed to test the zone at greater depth, is now underway.  Sego will be twinning PDH 09 (from 12 to 64 m 1.264% Cu 1.061 G/T Au , 3.79 G/T Ag, Including 12 to 44 m 1.845% Cu, 1.628 G/T Au 5.569 G/T Ag including from 16 to 24 m 3.681% Cu 5.256 G/T Au and 15.975 G/T Ag which includes from 18 to 22 m 3.999% Cu 6.925 G/T Au and 23.450 G/T  Ag.  Bottom of Hole 64 metres), PDH 02 (From  60 to 70 m  0.355% Cu, 0.446 g/t Au,  1.2 G/T Ag.  Bottom of Hole 70 metres), see News Release April 5, 2011; PDH 77 (From  4 to 14m 10m 0.215% Cu with 0.148 G/T Au, 20 to 36m  6m 0.218% Cu with 0.185 G/T Au, 38 to 93m 54m 0.342% Cu with 0.473 G/T Au, Including 7m 0.76% Cu with 1.508 G/T Au (see News Release November 28, 2011); and PDH 94 (18-100 metres 82 metres 1.006% Copper, 0.576 G/T Gold, 1.69 G/T Silver, end of hole 100 metres).  A location map of all percussion drill holes can be found on our website.

These holes will be drilled to a depth of approximately 300 metres, one hole will be held in reserve with its location to be determined after completion of the twinning holes.

Sego Resources is permitted for five years of exploration.

Sego Resources Inc.'s sole project is the Miner Mountain Project, a Copper Gold Porphyry project near Princeton, B.C., 15 kilometres north of Copper Mountain Mining Corporation's Copper Mountain Mine, now in production. The Miner Mountain Project is situated within the Traditional Territory of the Upper Similkameen Indian Band, with whom Sego has a Comprehensive Memorandum of Understanding. 

This News Release was reviewed and approved by V.A. Preto Ph.D., P. Eng.  A Qualified Person under NI 43 -101.

J. Paul Stevenson, CEO
Sego Resources Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No regulatory authority has approved or disapproved the information contained in this news release. This release includes certain statements that may be deemed "forward-looking statements".  All statements in this release, other than statement of historical facts that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects re forward-looking statements.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, statements are not guarantees of future performance and actual results or developments may differ materially from the forward-looking statements.  Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, general economic, market or business conditions.  Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

John Geisler, Investor Relations, [email protected] 
Or 1-866-683-2933.