Concordia's 2013 Program Commences With Expansion of Exploration Targets at Its Kerboule Gold Projec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 18, 2013) - Concordia Resource Corp. (News - Market indicators) ("Concordia" or the "Company") has commenced auger drilling on its 100%-owned Kerboulé Gold Project in northern Burkina Faso to follow-up on previously identified regional anomalies and to define new areas of mineralization in the Kerboulé-Yaléma trend.

As part of its initial 2013 work program, Concordia will use a mechanized auger drill - which has proved a cost-effective and successful tool for identifying gold mineralization both at Kerboulé and other properties within the Birimian greenstone belts of West Africa - in conjunction with an airborne electro-magnetic ("EM") and magnetics survey planned for 1Q 2013.

The initial 4,000-hole auger sampling program in conjunction with the planned airborne EM survey, will follow-up on regional anomalies generated by historic geochemical soil (pit) sampling results. This will help generate new gold targets and better define previously identified anomalies throughout the licences (Figure 1). The mechanized auger drilling will penetrate the 5 to 10 meter lateritic cover in order to retrieve a more representative sample from the saprolite bedrock.

Soil geochemical anomalies from previous sampling work and geophysical targets from the 2012 ground IP gradient survey suggest that more discrete zones of gold mineralization exist in the Kerboulé area. An auger drilling program of 5,000 holes is proposed to follow up on these zones (Figure 2).

Results from the proposed auger programs and the geophysical survey will be used to identify targets for an RC drill program.

Concordia has already identified and drilled four zones of mineralization in the Kerboulé area (Kerboulé South, Kerboulé Main, Kerboulé North and Yaléma) previously announced in its news release dated Sept. 12, 2012. The appended (table in Appendix 1) shows a compilation of all re-composited, mineralized drill intersections for the Kerboulé project(1).

To view Figures 1 and 2, click on the following link: http://media3.marketwire.com/docs/ccn117m.pdf

QUALIFIED PERSON

Mr. Barry Bayly, is a member of the South African Council for National Scientific Professionals (SACNSP), South Africa, and is a qualified person in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). He is responsible for the exploration program on Kerboulé. He has verified the data disclosed in this news release.. Mr. Bayly is the chief operating officer of Swala Resources Inc., a 100%-owned subsidiary of Concordia, and is therefore not independent within the meaning of NI 43-101.

ABOUT CONCORDIA

Concordia is a well-financed junior exploration company with an emphasis on developing mineral deposits in Africa and South America. Concordia has an extensive exploration portfolio in the resource-endowed regions including Burkina Faso, the Democratic Republic of Congo, Mozambique and Argentina. In addition, Concordia has acquired an option to purchase 100% of the historic La Providencia silver mine located in the Puna of northwestern Argentina and has also acquired an option to purchase the 14,000 ha Cerro Amarillo-Cajon Grande copper-gold-molybdenum property located in the Malargüe District of Argentina. The company has an experienced management team and board of directors with extensive expertise across the globe. 

On behalf of the Board of Concordia Resource Corp.

R. Edward Flood, Chairman and CEO

Certain of the statements made and information contained herein are "forward-looking information" within the meaning of the British Columbia Securities Act, including results from drilling, the anticipated costs of the drill program and the results from the airborne magnetic survey. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to risks inherent in mining, including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties, including those described in each management discussion and analysis. Forward-looking information is, in addition, based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long-term price of metals; appropriate equipment and sufficient labour and that the political environments where the Company operates will continue to support the development and operation of mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update the forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such information, other than as required by applicable law. Accordingly, readers are advised not to place undue reliance on forward-looking information.

(1) Drill intersections were re-composited using the following parameters: Cut-off at 0.2 g/t Au, End composite when >5 m interval below cut-off Top-cut high grade at 10 g/t Au.