Touchstone Gold to List on Toronto Stock Exchange

Tue Dec 11, 2012 6:30pm EST

* Reuters is not responsible for the content in this press release.

Touchstone Gold Limited ("Touchstone" or the "Company") (AIM:TGL) is
pleased to announce that the Company's common shares will be listed and
posted for trading on the Toronto Stock Exchange ("TSX") at the opening
of trading on Wednesday, December 12, 2012 under the symbol "TCH".
Touchstone will be quoted on both the AIM market of the London Stock
Exchange (AIM:TGL) and the Toronto Stock Exchange (TSX:TCH).

    At the request of the TSX, Touchstone is providing a more detailed
contingent Phase II budget than in its previously filed technical report
titled "Technical Report on the Rio Pescado Gold Property, Republic of
Colombia" dated June 30, 2012 and prepared by Peter A. Christopher, PhD.,
P.Eng of PAC Geological Consulting Inc. The technical report is available
on the Company's website at and under Touchstone's
profile on SEDAR at

    This phase II budget takes a longer term view towards what Touchstone
anticipates will be required for future exploration beginning mid-2014.
This future budget is contingent on the results and experience of
Touchstone's 2013 exploration program and will be adjusted by management

Phase II Budget                                                             
Rio Pescado Project                                                         
Anticipated to commence mid-2014                                            
Personnel                                                      $   2,232,000
Drilling                                                       $   4,550,000
Assays                                                         $     260,700
Air Support                                                    $     660,000
Transportation                                                 $     239,200
Equipment Supplies, Shipping & Capital                         $     523,000
Environmental Consulting                                       $     300,000
Report Writing                                                 $      75,000
Contingency                                          @ 12.5%   $   1,104,988
Total Cost                                                     $   9,944,888

    About Touchstone 

    Touchstone is a gold exploration company and its primary assets, which
collectively comprise its Segovia Gold Project, are the Rio Pescado, El
Cinco, San Miguel, and Frontino Norte properties along the
Segovia-Remedios Gold Belt in Colombia. Rio Pescado is comprised of four
mining concessions, the El Cinco property is comprised of one mining
concession, the San Miguel property is comprised of one mining concession
and one proposed mining concession, and the Frontino Norte property is
comprised of five mining concessions. Touchstone owns further options on
the Santa Rosa Project, in the South Bolivar area of Colombia, comprised
of four proposed mining concessions and one mining concession. With a
philosophy of creating value by the systematic exploration and
development of Touchstone's existing assets as well as the acquisition of
suitable exploration and development mineral projects, Touchstone's
long-term intention is to build a significant gold exploration and
production company. 

    This news release has been prepared under the supervision of, and
approved by, John Nicholson, P.Geo., B.Sc., who is a "qualified person"
as defined under National Instrument 43-101. Mr. Nicholson serves as the
Chief Geologist of Touchstone. 

    Forward-Looking Information

    This press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements related to
activities, events or developments that the Company expects or
anticipates will or may occur in the future, including, the anticipated
future exploration and the costs of such exploration.

    Forward-looking information is often identified by the use of words such
as "plans", "planning", "planned", "expects" or "looking forward", "does
not expect", "continues", "scheduled", "estimates", "forecasts",
"intends", "potential", "anticipates", "does not anticipate", or
"belief", or describes a "goal", or variation of such words and phrases
or state that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved. Forward-looking
information is based on a number of factors and assumptions made by
management and considered reasonable at the time such information is
provided. Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance, or achievements to be materially different from those
expressed or implied by the forward-looking information. The budget is
preliminary in nature and may change depending on the results of the
Phase I exploration and changes in the costs and estimates indicated in
the budget. The Phase II budget will also depend, among other things, on
the Company's ability to fund such required exploration at the time it
decides to proceed. Additional risk factors are disclosed in the
Company's other public disclosure documents available on SEDAR at Although Touchstone has attempted to identify important
factors that could cause actual actions, events, or results to differ
materially from those described in the forward-looking information, there
may be other factors that cause actions, events, or results not to be as
anticipated, estimated, or intended. There can be no assurance that
forward-looking information will prove to be accurate. The
forward-looking information contained herein is presented for the
purposes of assisting investors in understanding the Company's plan,
objectives, and goals and may not be appropriate for other purposes.
Accordingly, readers should not place undue reliance on forward-looking
information. The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.

Touchstone Gold Limited
David Wiley
Chief Executive Officer
+1 647 260 1247

Copyright 2012, Market Wire, All rights reserved.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.